The herald. [volume] (New Orleans, La.) 1905-1953, 1917-02-22
REMEDIAL RATES
4 Remedy for The trurbitant
Interest Charged

/ aSe hundred 500 shares Of one hundred dol
.a-s lSlOyuU each which said stock shall be
paid for n cash or is eluvalen; IN such
uau0er and amounts the board OF direc-
,O-s may determine OF may be issued at par
IN payment Of property actually purchased
and non assessable. All IN conformity and
under The restrictions OF the presently exist
iug corporate laws.
This corporation shall be authorized 20 COM
mence business and be a going concern as
soon twenty-five thousand dollars (s25,-
OnUD) OF IFS capital stock IS subscribed for,
which amount Is hereby declaied 10 be sub
sc-ibed. The shares Of stock shall be trans
ie-abIe only on the books Of the corporation
and no transfer OF stock shall De binding or
have any effect upon this corporation unless
and untIl made upon its books and a prior
lien all shares Of stock shall be retained
. by :his company on the stock OF any snare
holder FOR any Indebtedness, secured or un-
. secured. however evidenced created. lue al
any time 10 the company by the holder OF
said stock and all transfers Of stock shall
be made subject to these conditions.
/ The capital stock Of this company may
he increased up TO an amount OF one hundred
/ and fifty thousand dollars lSlO. OO.O) by
vote OF ;L-ee-fOurths 90 OF the outstanding
stock At a meeting Of stockholders called for
/ that purpose, in the same manner as provided
for the meeting 70 elect directors until there
. shall be given 10 the stockholders thirty 800
days notice. prior TO said meeting, and SAID
4 capital stock may be reduced 70 an amount
not less than twenty-five thousand dollars
(S25,O0OO IN the same manner as above pro
vided for the increase OF stock.
Article N.-AN the corporate powers OF this
corporation shall be vested in and exercised
by a board of six Co directors. who shall
each be a stockholder in this corporation,
four a. Of whom shall constitute a quorum
for the transaction OF all business and a
majority vote al any meeting shall decide
all questions voted upon.
Said directors shall be elected annually
from the stockholders, on the first Tuesday
in January in each year, after due notice OF
said meeting shall have been given to each
stockholder, sent by mailsto his last known
address at least fifteen 09 days prior TO the
holding OF said election. And all other
meetings Of stockholders, the stockholders
must be notified in the manner above de-
scribed at least ten (l0) days prior 70 the
holding Of such meeting. All other stock
holders meetings, other than 10 elect direc-
, / tors may be held when ordered by the board
( Of directors the holders OF twenty-five per
. cent (250cl of the outstanding stock. The
= president shall call said meetings and upon
. his inability or failure so TO do, same will
be called by a vice-president;
: AT said election, and at all other meetings
: OF the stockholders, the vote shall be by
ballot, and each share OF stock outstanding
shall be entitled TO one Ql vote TO be cast
. by the owner in person or by written proxy.
The majority of stock voted at any stock
holders meeting shall decide all questions
voted upon except as otherwise provided.
Within one % week from their election
as above provided for, the board of directors
shall elect from among their members a pres:
ident and two (2) vice-presidents; they shall
also elect treasurer ana secretary. Inc
last two named officers may or may not be
members of the board OF directors and the
two Offices may be combined in one person
S as the board may determine.
e above provided for shall hold their respective
e offices for period of one % year from the
y date of their election or until their success,
/, sors are duly elected; except the first board
herein provided for whose terms will expire
on the first Tuesday of January, 1918, or un'
til their successors have been duly elected
but the failure to hold an annual election OF
i to elect the officers as above provided tor
shall not result in the dissolution of this
= corporation but the then board Of directors
and officers shall hold their respective Offices
until their successors are duly elected.
Any vacancies occurring on said board Of
/, directors shall be filed by the remaining
. members of said board for the unexpireo
Il term, at meeting called for that purpose
r after ten days prior notice in writing sem
: by mail to said directors at their last known
d address. and if the said board fails to cleo
d at said meeting, second meeting may o'
2, called for the purpose of electIng said dlrec
! tors as above provided or the election may
e be made by the stockholders at a specia
e meeting called for that purpose in the man
d ner herein provided for the election OF di
j. | rectors and should second meeting OF tn
e board be held and fail to elect then thu
e board must have said election by the stock
g holders as above provided for the election
J. The said board Of directors shall have tn
is power to make all bylaws, rules and reg
r ulations for the proper management an.
i. conduct of the affairs Of this eorporatio'
e and to change, alter, amend, or abolish tn
is same at pleasure, and shall have and exeI
D. else all the powers conferred BY law on thu
a corporation and as set forth in this charter
T. The said board of directors shall have tn
u power to appoint any agents, managers, Q
pt employees who shall respectively have sue
power and perform such duties at such plac
IN or places as may be prescribed by the by
IS laws or by the board of directors and VIII
t. may be removed at the pleasure OF tn
rs directors, and said board shall have author
I'd ity to delegate any of the said powers veste
TO in il. in the transaction of the business
ed this corporation 10 committees OF their ow
he body or to the officers and agents OF TIL
10 XII EMPLOYEES of this corporation, excel
te those holding the Offices of president an
n vice-president shall be considered as en-
e, ployed, by the month unless otherwise col
nd The first board of directors of this corp
". ration are hereby declared to be: Mr.. Waite
r. B. Chilean of New Orleans, La. Mr.. Charlie
er Chipley of New Orleans, Louisiana; M
"a Wallace B. Rogers, of Laurel. Mississippi
" Mr.. Frank G. Wisner. of Laurel. Mississippi
r, with the said Mr.. Walter B. Chilean, ;
n president; the said Mr. Charles Green ar
ay the said Buckner Chipley vice presidents
nd with the said Wallace B: Rogers as treasure
and John A. Taylor, Of New Orleans, LoI
a isiana. as secretary; who shall hold their. r
IS, spective Offices until their successors are dul
sh elected as provided for.
es Article Vf.-Ths corporation may be d
a. solved by a vote of two-thrds Of the on
ed standing capital stock thereof at a gener;
in meeting convened for that purpose in Il
Il, manner above provided for the calling
the stockholders meetings to elect director
or and otherwise in conformity with the law
he of this state.
DIV Whenever this corporation is dissolved
IT. either by limitation otherwise, its affair
IS shall be liquidated by three liquidstors con
nd missioners to be elected at such general NEE
e, ing of the stockholders, who shah procee
ed with the liquidation only upon a certihca'
RI OF the Secretary of State, all provided Fl
IS, BY the laws of this state. And in case
es death. resignation or inability to act of an
on of said commissioners, the surviving commi
nv sionsr or commissioners shall appoint su
Is, cessor and together they shall continue Il
Of liquidation to its termination.
IT. Article VII.-This charter may be change
on or amended by vote of two-thirds of Il
Is, capital stock issued at general meetir
"a called for that purpose after thirty (30) da,
of prior notice in writing having been sent
a each stakeholder at his last known address
No stakeholder shall ever be held lab
Dr.. or responsible for the contracts or faults