The herald., 1917-06-21
CHARTER

A.
OF COTTON LAND & TRADING co, INC.
State Of Louisiana, Parish OF Orleans. City
oi New Orleans.
BE it known, tina, on this 7,h day Of June,
1917. before me, Herbert W. Kaiser, 4 notary
public. duly commissioned and qualified, IN
and for the Parish OF Orleans, State OF
Louisiana, IN the presence Of the witnesses
hereinafter named and ersigned, person
ally came and appeared the persons whose
names are subscribed hereto. who declared
that. ayallng themselves Of the provisions OF
the laws Of the State OF Louisiana, and more
particularly Of Act No. 267 OF the General
Assembly OF the State OF Louisiana for the
year 1914. they have cOvcnanted and agreed,
and do, by these presents, covenant, agree,
bind and form themselves, as well as such
persons who may hereafter join and become
associated with them. into a corporation and
body polite IN law, for the objects and pur-
poses and under the agreements and Stlpula-
tiou> following. to-wit:
Article 1.-The name and style Of this
corporation shall be Cotton Land X Trading
Co., Inc, and under that name It shall
have and enjoy all the rights, advantages
and privileges granted by law to corpora
tons. IL shall exist Tor period OF ninety
nine years from date hereof. unes, sooner
dissolved; it shall have power 10 sue and
be sued in its corporate name; to make and
use corporate seal and to break and alter
the same at pleasure; to hold, receive, con-
ycy, mortgage and hypo;hecatc real, personal
and mixed property; 70 issue bonds, notes
or other obligations; to have and employ such
managers. officers and agents a the interest
and convenience OF the corporation may re-
qurc; and 70 make and establish such laws,
rules and regulations for the corporate man
agcmcut and control OF the business and
affairs of the corporation may be deemed
necessary and eXpcdent.
Article 1.-THE dpmicilc Of this corpora
ton shall be in the City OF New Orleans,
State OF Louisiana, but II may carry on its
business and affairs in any part OF the world
that is directors may see AT. All citation
and other legal process shall be served on
the president and in his absence on the sec
retary-tre lSurer.
Article ITT.-The objects and purposes Of
this corporation are: 10 acquire, hold and
possess by whatsoever title movable I'M
movable property oi every description III the
State Of Louisiana and elsewhere in the
world, whether by purchase, lease, donation,
exchange or otherwise: 10 improve ImmOvable
property by the erection OF buildings thereon
or the planting and growing OF crops: 70
| buy, sell and exchange stocks, bond, mer-
chandiSc. cotton and other products OF the
soil; t. borrow money whether upon the
credit Of the corporation or on notes OF the
corporation secured by mortgage on its prop
gage or other security; and. in general, -
| do any and all acts and things connected
| with. incidental to or growing out Of the
| said objects set forth contemplated.
| Article IN.-The capital stock Of this cor.
| poration IS hereby fixed at the OF forty
| thousand CS+0000OO dollars. which capital
stock may he increased to one hundred thou.
| sand CSlOOOOOOO dollars. Said capital stock
shall be divided into four hundred shares
! II the par value OF hundred dollars
| $4,000 each, to be paid for in cash, or in
| ouSiderati0n for immOvahe property, stocks,
| bonds or merchandise transferred 10 this
corporation in lieu OF cash 70 be deter.
mined upon appraised values set upon such
property. transferred. by the board OF d.
-ectors, for which property. 81 transferred,
this cOrpOation may issue its full paid and
ron-aSSeSsable stock.
Article N.-All shares OF capital stock shall
be non-assessable, and no transfer shall be
binding upon the corporation unless made
upon its books, and all certificates OF stock
shall be signed by the president and the sec
retary-treasurer OF the corporation.
Article Vino stockholder OF this corpor-
alton shall offer for sale, sell, atign or trans
fer his stock in this corporation without Civ
ing TO the other stockholders thirty days
prior notice OF such intention. which notice
shall be given in writing to the president of
the corporation and shall by said president
be Immediately made known 10 the directors
of the corporation. and the other stockhold-
erS shall have the privilege OF purchasing
said stock al the book value thereof for a
period OF thirty days from delivery OF said
notice to the president.
Article EII.-All the corporate powers Of
this company shall be vested in, and the
management and control of its business and
affairs shall be exercised by, a board OF
directors composed of three stockholders. A
majority OF the directors shall constitute a
quorum for the transaction of all business.
At any meeting Of the board of directors al
which there are only two members of the
board present, the absent director may give
TO either Of the two directors present at said