The herald. [volume] (New Orleans, La.) 1905-1953, 1917-12-06
CHARTERS,
nature of the business to be carried on by
it are hereby declared to be:

oil, rosin, rosln oil, compounds, and otner
naval stores and by-products; wood, lumber,
timber, wood pulp, straw board, and other
fibre; any and all kinds of paper and any
and all ingredients, products and compounds
of any of the foregoing substances, and any
and all machinery, materials and articles
that may be now or hereafter used or re-
quired in or in connection with the manu-
facture or handling thereof.
Section 2 To acquire, rent, construct,
equip, improve, operate, manage, work and
develop woodlands, wood, timber, trees, fac
tories, plants, shops, mills, camps, stores,
depots, selling agencies, and all necessary
real estate, buildings, structures, machinery,
tools, implements and appliances necessary
and proper for the manufacture, production,
disposition and sale OF any or all of said
articles.
Section B. To apply for, purchase or other
wise acquire and use, operate, sell, assign,
transfer and otherwise dispose of, processes,
formulas, patents, licenses, and other rights
in any and all inventions or improvements,
whether secured or not, under letters patent,
domestic foreign.
Section a. To survey, subdivide, and plat
lands for the purpose Of lease sale, and
to improve and develop the same by the
erection of houses or buildings thereon and
to do such other lawful acts may be need
full or desirable in and about the improve
ment and development thereof for any pur-
pose; to plant, grow and cultivate all kinds
of fruits, plants and vegetables; to raise,
buy, sell and deal in horses, mules, cattle,
live stock and poultry of all kinds, and
generally to engage in the business of a
planter.
Section 5. To construct, purchase, lease
or otherwise acquire and own, maintain and
operate, steamboats,, sailing vessels, baIges
and other water craft, piers, docks, wharves
and such lines of tramway or railway as
may be convenient, necessary or incidental
to any business or enterprise of the corpo-
ration, with all necessary side-tracks, loco
motives, cars, depots, round houses and other
equipment necessary to the operation OF said
vessels, piers, docks, wharves, tramways or
railways and the traffic thereon; provided
that this corporation shall not, without an
amendment of this charter, be a common
carrier or have the right to exercise the
power of eminent domain.
Section s. To enter into, make, perform
and carry out contracts of every kind not
contrary to law, with any person, firm, asso-
citation or corporation, and TO carry on any
other business which under the law 1t may
be entitled to carry on, which may seem to
the corporation to be calculated, directly or
indirectly, to effect the aforesaid objects or
either of them, or to facilitate it in the
transaction of its aforesaid business or bus
inesses or any part thereof, or in the trans
action of any other lawful business that
may be calculated, directly or indirectly, to
enhance the value of or to render profitable,
any of the corporations property and rights,
and generally TO hold and exercise all such
incidental powers and privileges as relate
to the objects and purposes hereinabove set
forth or may be necessary, useful or con-
venient for effecting said objects and pur-
poses.
Article IV.-The authorized capital stock
of this corporation is hereby declared to be
the sum Of Two hundred thousand dollars
(S2OO,OO0O0), which capital stock may be in
creased in the manner provided by law, to
the sum of Five hundred thousand dollars
($SOo,Ooo0O). The presently authorized cap
ital stock of this corporation shall be rep;
resented by two thousand 5000 shares OF
the par value of One hundred dollars lSlOOOO)
each The said capital stock shall be rep
resented by certificates and shall be per,
sonal property. No transfer of said capital
stock shall be binding upon this corporation
unless made in accodance with its charter
and bylaws and recorded on the books
thereof.
Article V.-The capital stock of this cor
poration shall be fully paid and mona assess
for labor done or for property actually. re-
ceived or for cash to be paid at such times
and in such amounts and after such notice
as may be determined by the Board OF Di:
rectors, but, whereas, Robson Dunwody OF
New Orleans, Louisiana, has invented, dis.
covered or perfected certain new and useful
improvements in certain processes for distil-
lation and handling of crude pine rosin, GER
tain processes for distillation and handling
rosin, certain processes for the manufacture
of rosn and rosin oil compounds, and GER
tain processes for the recovery of naval
stores from dross and other distillery waste,
this corporation, In ayment OF the SUB.
scription to one thousand, nine hundred and
ital stock may receive and take title TO the
full and exclusive right to the process SO
invented, discovered or perfected by the said
Dunwody.
with the said Dunwody that any letters pat
ent ever issued for said processes, or any
one or more thereof, shall vest the exclu'
sive right of said invention and said letters
patent in this corporation, which aforesaid
processes so invented, discovered or perfected
by the said Dunwody and the rights there
under have been appraised by the parties
hereinafter named as the FIRST Board OF Dr.
rectors of this corporation as having value
of at least Two hunded thousand dollars
(S2O0OOO0).
Article VI.-All the powers OF this corpo-
ration shall be vested in and exercised by
Board of not more than seven 10 and
not less than three 90 Directors, each Of
one ID share of stock. Said Board of Di-
rectors shall be selected annually on the
second Tuesday in January Of each year, the
first election to be held in the year IVY
All such elections shall be by ballot, at the
Office of the cooperation, under the supervi-
sion of three 90 commissioners, to be ap'
pointed by the Board of Directors, and IN
the absence of any commissioned, the Pres-
ident shall have power to NIL the place by
appointment, and of all such elections, as
well as of all meetings of stockholders, ex-
cept for the purpose of liquidation or DISCO
luton, or as otherwise required by law
fifteen Q5) days notice shall be given by
mailing to each stakeholder who appears as
such on the books of the corporation, at has
/ last designated address, or at the general
delivery at New Orleans, if he has no,
designated an address, an announcement
stating the time and place of the meeting
Each shareholder shall be entitled to one
vote for each share of stock standing in his
name on the books of the company, to De
cast in person or by proxy, and a majority
of the vote cast shall elect The Board oil
Directors shall have power to fill all vacan-
cies that may occur in the Board. Failure
to elect directors on the day above specihed
shall not dissolve the corporation, but the
Directors then in Office shall remain in
Office until their successors are elected ano
qualified. Due notice of another election
shall forthwith be given. as above provided
Such notice of election shall be continued tc
be given until an election is held. The
Board of Directors at their FIRST meeting
following each annual election shall elecl
| from their number President, Vice-Pres'
ident and a Secretary Treasurer, and such
other officers as the Board of Diectors shall
deem necessary. The Board shall have pow
Offices, and the same to confer upon one
person. and shall have power to nix the sal
aries of all officers and all such other officer.
and employees as they deem necessary. Iht
Board Of Directors shall have power to make
and establish, as we'll as alter and amend
| all bylaws, rules and regulations necessar,
and proper for the support and management
of the business and affairs of said corpora
ton not inconsistent with its charter. SaiC
L noa-d hall ,tca have fulf power and au