The herald., 1917-11-08
Cement sidewalks and we'll surfaced
streets. Filled to grade; higher than
Carrolifon Ave. Electric lights. Over
seventy-fvs homes built already.
CHARTERS.

ton shall be in the city of New Orleans,
State OF Louisiana, and all citations and
| president, in his absence, on the sec
| rotary.
Article III.-The objects and purposes for
| which this corporation is organized and the
nature of the business to be carried on by
| it. are hereby declared TO be, as follows,
| to-wit:
To manufacture. buy. sell. import export
and generally deal in all kinds, classes and
descriptions of food products; and generally
20 do any act, matter or thing whatever that
may be necessary, incidental, useful ad
visable in the furtherance OF such objects
and purposes.
Article IV.-The capital stock OF this cor
poration is fixed at the sum OF six thousand
dollars (S6,ODO0, divided into sixty shares
Of the par value OF one hundred $4,000
dollars each
OF said capital stock. $4,000 or thirty
shares, shall be Preferred stock, and 5000 60
| or thirty shares, shall be Common stock.
The holders Of the Preferred stock shall be
entitled to receive, when and as declared
from the surplus or net profits of the cor
poration. yearly dividends at the rate OF six
toC) per cent per annum and no more.
The dividends on the preferred stock shall
be cumulative, and shall be payable before
any dividend on the common stock shall
be paid set apart; so that if in any year
dividends amounting 70 SIX (6ct) per cent
shall have been paid thereon, the deficiency
. >ldll ne payable before any dividend shall
be paid upon or set apart for common stock.
Whenever all cumulative dividends on the
preferred stock for all previous years shall
have been declared. and the company shall
have paid such cumulative dividends for pre-
vlouS years, or shall have set aside from
its surplus or net profits, a sum sufficient for
the payment thereof, dividends on the COM
mon stock, and payable then or thereafter
out OF any remaining surplus or net profits,
may be declared.
II .ba
tion or winding up (whether voluntary or in
voluntary OF the corporation, the holders OF
the preferred stock shall be entitled to be
paid in full, both the par amount of their
shares and the unpaid dividends accrued
thereon, before any money shall be paid to
the holders OF the common stock: and after
payment 10 the holders of the preferred stock
Of its par value and the unpaid accrued div.
be divided and paid to the holders of the
common stock according TO their respective
shares.
All shares OF stock shall be full paid and
1On-asSessable.
The said stock shall be paid for in cash
or the same may be issued at not less than
par. for labor done, or services rendered said
corporation, or property or rights actually
received by said corporation.
No stakeholder shall have the right 70
dispose OF his shares OF stock until he shall
have first offered the same to the board of
A'tSNb'lN dt us l1C0 DOOk value, who shall
have hfteen days option within which time
20 purchase same. No transfer of stock shall
he binding upon the corporation unless made
upon its books.
This corporation shall have the right 10
increase its capital stock to the further sum
OF one hundred thousand (SlO0.OO0OO) dollars.
or any part thereof, - be divided into shares
Of $4,000 each, provided said increase in the
capital stock shall have been authorized by
the stockholders at meeting held pursuant
to the provisions of this charter
This corporation shall have and eniov the
right to purchase shares of stock in other
corporations, partnerships or interests as
visable.
This corporation shall be and become
Hoing concern when fifty C0cf) per cent of
rs stock shall have been subscribed and
paid for. anu
Article V-All the corporate p.we-s Of This
| corporation shall be vested in. and eyer.
clsed by, a board of directors composed Of
IpnTee , stockholders. and majority of the
boali OF Directors shall constitute a quorum
for the transaction of all business The ii.
rectors shall be elected annually bv ballot
nv me stockholders on the third "Wednesday
IN September Of each year.
The common stockholders alone shall have
me voting power in all corporate affairs.
Each stakeholder of common stock shall
he entitled. by person or by proxy. IN one
vote for every share of common stock owned
by him; and all elections shall be held
under such rules and regulations as NAV he
ssP2eclhed by the board of directors, after
htteen days notice OF such election shall
have been sent to each of the stockholders
at his last known address.
No failure to elect directors shall he re-
sarded as a forfeiture of this charter.
ANY vacancy occurring on this board shall
ne hlied by the remaining directors for the
unexpired term '0' ''e
Said board Of directors shall at its frs.
meeting after its election nominate out &c
its own number president, and a secre.,- V.
treasurer. The Offices of secretarv-treasure-
may ne separated and held by separate in
d,yiduals. The Office of secretary NAV he
held by one not a stockhoIder
The said board of directors shall have -.
right to appoint and dismiss such clerks and
managers and other EMPLOYEES of the co-no
ration as in its judgment may be deemed
necessary. ~ ueei'eu
The tenure of office of all the EMPLOYEES Of
the corporation shall be during the nIeos,,ua
OF the board Of directors; anv d-ector sb.lI
nave The right to appoint in writing anv
otheT director to act as'his proxy and in his
steaa at any and all meetings of the board
of directors o 0oaiu
,d hrticle NILeon Frank, whose post Office
Orleans Louisiana; Julius c. Werner Who's
post office address is OH Ca, ton Avenue
Hew orleans. Louisiana: William Henry
49,, whose post ONCE address is 1914 PRIV
tania street. New Orleans. louisiana sb.II
constitute the first board Of directors of Ms
corporation. with Leon Frank as president
ana William Henry Ker as secretarv.treas.
rrer 10 serve until the third Wednesday of
snail have been elected and qualified.
| Article VII.-This act Of inro-no-.+;o- .,...
oe changed, modified or altered. or this cor.
| Peraton NAV be dissolved, with the assent
OF stockholders owning two-thirds of all the
49,; 800 ol me corporation, at a general meet.
ing convened for that purpose. and after AZ
east hfteen n0 DAVIS written notice Of this
nee'ln0 mas been given personally or through
me mail; addressed TO each stockholder, at
I;I ast known place Of address In case Of
| dissolution. BY the expiration of ne -
Yer or otherwise, after compliance with law
me stockholders shall elect two Iinuidats-s
| ION arrong their number n liouidate and
no-n.; me business and affairs Of the cor.
eeoratlon. The said liuuidators shall have
| rui! power to settle the cornorat;on,s d.h,.