The herald. [volume] (New Orleans, La.) 1905-1953, 1917-08-02
CHAR TER
OF INTERNATIONAL SCRAP MATERIAL
COMPANY, INC.

OF INTERNATIONAL SCRAP MATERIAL
COMPANY, INC.
United States of America. State of Louisiana,
Parish of Orleans, City of New Orleans.
Be il known, that on this thirteenth day
Of the month of July, in the year one thou
sand nine hundred and seventeen, A. D.,
before me, Charles Rosen, notary public,
duly commissioned and qualified, i'll and for
the above parish and State, therein residing,
and in the presence Of the witnesses herein
after named and undersigned, personally
came and appeared
The several persons. of the full age of
majority, whose names are hereunto sub.
scribed, who declared that availing them
selves of the laws of this State in such
cases made and provided. they do hereby
form themselves, their successors and as
signs, into a corporation under the following
Articles and stipulationS, which they hereby
adopt as their charter, to-wit:
Article 1.-The name of this corporation
shall be International Scrap Material Com
pany, Inc. Its period of duration shall be
ninety. nine years from this date. Said cor
poration shall have, for the purposes OF the
business to be carried on by 1t, all the
powers conferred by law upon corporations,
and shall generally exercise all the powers
necessary to carry said business. Said
corporation shall have full power to contract,
sue and be sued in its corporate name; TO
make and use corporate seal, and the same
to break or alter at pleasure; to hold, re-
-
convey, mortgage, hypothecate, lease,
pledge, or otherwise dispose of,
y, real, personal and mixed; to issue
notes, other obligations; TO have
ID employ such managers. directors officers,
Dagents and other employees as the interest
and convenience of the corporation may re-
quire or demand; to make and establish
such bylaws, rules and regulations for the
management and control Of the business and
affairs of the corporation as may be deemed
necessary or expedlent.
Article 1.-THE domicile of the corporation
shall be in the City of New Orleans, State
legal process shall be served on the presI-
dent, and in case of his absence disability
upon the secretary-treasurer.
Article III-The objects and purposes for
which this corporation is organized and the
nature of the business to be carried on by
il are hereby declared to be:
To buy and sell scrap iron, metals, rags,
rubber, and other scrap materials OF all
kinds, and other articles OF merchandise and
personal property.
Article IV.-The amount OF the capital
stock of this corporation IS hereby declared
to be ten thousand (Sl0,m.0O dollars, con-
sisting of one hundred shares OF the par
value of 500 per share. One-halt OF Sald
amount shall be subscribed before the Ming
of the Articles of Incorporation, of which
fifty per cent shall be paid in cash before
the corporation engages in business, and the
remainder within twelve months.
The remainder of the authorized capital
stock may be issued at any time by the
board of directors for money or property &C
tually received or labor done for the corpo-
ration, upon such terms and conditions as
the board of directors shall deem proper.
The amount to which the capital stock may
be increased shall be fifty thousand ESQ.,
000.00) dollars
No stakeholder shall have the right to sell,
pledge, or otherwise dispose of his stock
without first offering it to the other stock
holders in proportion TO their respective mold
ings through the board of directors for thirty
days at its book value, for cash; and all
stock shall be held subject to this provision
and every sale, pledge, encumbrance, or other
disposition of said stock shall be made sub
ject to this provision of the charter.
The board of directors shall have power to
receive subscriptions for and 90 issue all
stock hereafter subscribed for; but all such |
stock and any increase thereof must hrst be
offered to the existing holders and owners /
of stock at the time of such issuance in pro-
portion 60 their respective holdings.
Article VAN the powers of this corpora
ton shall be vested in and the business
and affairs of the corporation managed by