The herald. [volume] (New Orleans, La.) 1905-1953, 1918-03-14
CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY, INC,

CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY, me-
United States of America. State of Lou
isiana. Parish of Orleans, City of New
Orleans.
Be it known, that on this ninth day o
the month of March. in the year of on
Lord, One Thousand, Nine Hundred an,
| Eighteen, and of the Independence of tn,
| United States of America. the One Humid
red and Forty Second. Before me Charles
l. Denechaud, a Notary Public. duly com
mtssioned and qualified, in and for tn,
| Parish of Orleans. State of Louisiana
therein residing, and in the presence o.
the witnesses hereinafter named and un
| dersigned, Personally came and appeared
| the several persons whose names are here
unto subscribed with their respective res
| licences hereinafter set forth, and being OF
| clare, that awaiting themselves of the pro.
visions of the laws and constitution OF
this State, relative to the organization OF
| corporations, they have contracted and
| agreed, and do by these presents contract
and agree and bind, and obligate them.
| selves, as well as such persons as may
hereinafter become associated with them
| to form and constitute a body polite in
Law, for the objects and purposes and
| under the agreements and stipulatiOns
herein following, which they adopt as
| tutlT CndrIeF, IO-Wlt.
Article 1.-The name of this corporation
shall be, Vernon Parish Naval Stores
Company, Inc" and shall have corporate
existence for the period of ninety nine
! 800 years from the date hereof, and shall
| have and exercise for the purpose of the
business to be carried on by il, all the
powers conferred by law on similar cor
porations, including the power to make
and use corporate seal and the same to
break or alter at pleasure; to contract
|
to hold, own, receive, purchase, ALLEVIATE
lease, convey, mortgage, hypOthecate,
pledge, or otherwise cucumber property,
both real and personal; to issue bonds,
| notes and ether obligations, for the pur-
pose of borrowing money, and to secure
same by mortgage or otherwise, to name
and appoint such officers, managers, di-
| rectors, agents and other employees as
the interests of said corporation may re-
quire, and to establish such bylaws,
rules anr regulations dis may be necessary
and proper to carry out and execute the
purposes of this corporation.
Article 1.-THE domicile of this corpor-
alton shall be in the City of Orleans, State
of Louisiana, but IL may establish and
operate factories. offices and agencies,
wherever it may deem advisable. All cita-
tiOns or other legal processes shall be
served on the President of this corpora
ton, or in the event of his absence or in
ability to act, upon the Vice-President.
Article III.-The object and purposes
and the nature of the business to be car
ried on by il are hereby declared to be
The general turpentine, naval stores and
lumber business in all it's various
branches, and to that end to manufacture,
purchase and sell turpentine, pitch, tar,
rosin, naval stores and allied products
to acquire, own, construct and operate
turpentine stills, saw-mills, planning mills,
driers and all machinery and appliances
necessary in connection with the opera
ton of said business and to manufacture
any products of wood such as sash, doors,
blinds, trimmings, boxes, furniture and
articles of wood and it's various by-pro-
ducts. And furthermore, to own and OPP
crate in connection with said business,
tram-roads, logging roads, sailing vessels,
steam vessels, and other water craft neces-
sary for the transportation Of it's mate
rial and products and also do mercantile
business.
Article Iv.-The capital stock of this
corporation is hereby fixed at the sum of
vided into Five Hundred 1000 shares of
One Hundred Dollars ($100.00) each,
which said stock shall be paid for in cash,
its equivalent in such manner and
determine or may be issued at par in pay
ment of property actually purchased and
such stock so issued shall be full paid
and worcestershire. All in conformity
and under the restrictions of the pres
emily existing corporate laws.
This corporation shall be authorized to
commence business and be a going con-
Germ as soon as Twenty-Five Thousand
Dollars (S25OO0.OO) of its capital stock is
subscribed for, which amount is hereby
declared to be subscribed. The shares
of stock shall be transferable only on the
books of the corporation and no transfer
of stock shall be binding or have any eff
feet upon this corporation unless and I'M
til made upon its books and a prior lien
on all shares of stock shall be retained
by this Company on the stock of any
shareholder for any Indebtedness, secured
or unsecured, however evidenced or Gre
ated, due at any time to 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
be increased up to an amount of One
Hundred and Fifty Thousand Dollars
(S15O,OO0.) by a vote of two-thirds (2-3)
of the outstanding stock at a meeting of
stockholders called for that purpose, in
meeting to elect Directors, and there shall
be given to the stockholders thirty (30)
days notice prior to said meeting, and
said capital stock may be reduced to an
amount not less than Twenty Five Thou
sand Dollars S25,000.O0l in the same man.
ner as above provided for the increase
Of stock.
Article v.-All the corporate powers of
this corporation shall be vested in and
exercised by a Board of four az Direc-
tors, who shall each be stakeholder in
this corporation, three (3) of whom shall
constitute quorum for the transaction of
all business and a majority vote at any
meeting shall decide all questions voted
upon.
Said Directors shall be elected annually
from the stockholders, on the first Tues
day in January in each year, after due
notice of said meeting shall have been
given to each stockholder, sent by mail
to his last known address at least fifteen
tio) days prior to the holding of said
election. And all other meetings of stock
holders, the stockholders must be notified
In the manner above described at least
ten t10) days prior to the holding of such
meetings. All other stockholders meet
mgs, other than to elect Directors may
be held when ordered by the Board Of
Directors or the holders of twenty five
per cent ESQ 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 meet
ings of the stockholders. the vote shall
be by ballot, and each share of stock out
standing shall be entitled to one "a vote
TO De cast nv the -0Wnar in paranu nv