The herald., 1918-08-01
CHARTERS.


as the interest of said corporation ma,
! require. and to suspend or remove sam,
at the pleasure of said Board and to IS
tabllSh such bylaws rules and regulation
; as may be necessary and proper, and tn,
same to alter, amend or abolish mt pleas
5 ure. and to generally do and perform al
such acts as may be proper and neces
Sary to carry out and execute the mr.
poses of this corporation.
Article 1.-THE dOmicile of this corpOr.
alton shall be in the City of New or.
leans. state of Louisiana but it may eS
itabliSh and operate factories. Offices and
IaGencl"S whatever il may deem advisable
MI citations and other legal processes
shall be served on the President of thi,
l'Orporation, or, in the event of his abb
srnce. or inability to act then upou the
Vice President
Article III.-Thc objects and PURPOSES
nor which this corporation is organized
land the nature of the business to be car.
RED on by IT. are hereby declared rs be:
lhe general turpentine and lumber bust
ness in all its various branches and IN
Ithat end. to manufacture purchase and
lSeIl. turpentinc. pitch. tar. rOSin. and nav
Ial stores. to acquire. own, construct. and
Operate turpentine stills saw mills DIau-
ing mills, dryers. and all machinery and
lappIanCeS necessary in connection with
me operation OF said business, and TO
manufacture and sell any products of
wood. such as sash. doors, blinds trim
Innings, boxes. furniture and other articles
lof wood. and its various by products. And
ton with said business. tram rOadS log
lginG roads, sailing vessels steam vessels
ldhd other water craft necessary for the
Transportation of its materials and DrO-
IductS, ana also do Il mercantile business
Article IE.-The capital stock of this
corporation is hereby fixed at fifty thou
sand dollars t$50O0O.O0l divided into and
represented by five hundred (JOO) shares
lof one hundred dollars (SlOOOOI each,
(which said stock shall be paid for in cash
ior may be issued at par in payments for
property actually purchased, or services
actually rendered to this corporation.
(which said stock shall be full paid and
mon -aSSeSSabIe.
This corporation shall be authorized to
commence business and be a going con
lcern as soon as ten thousand dollars $50 70
lOO0O0D of its capital stock is subscribed
and paid for, as above provided.
| The shares of this stock shall be trans
Iferable only on the books of this corpora
non: aud no transfer of stock shall be
Iporation, unless, and until made upOn its
hooks; and prior lien on any shares of
stock shall be retained by this company
on the stock of any shareholder for anv
Indebtedness, secured or unsecured. how
ever evidenced or created. 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.
Article V.-All the corporate powers of
this corporation shall be vested in and
Exercised by a board of five 90 direct
orS. who shall each be a stakeholder in this
corporation. majority 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 Tuesday
of April of each year, after due notice
of said meeting shall have been given to
each stockholder. sent by mail to his last
known address. ten Cl0D dayS prior TO the
holding said nlnntinn Va soil ti.a
or any other notice required by this char
ter may be waived in writing.
At said election and at all other meet
ings of the stockholders the vote shall be
| by ballot. and each share of stock shall
be entitled to one vote to be cast by the
owner in person or by written proxy The
majority of stock, voted ut any stOckhOld-
ers' meeting, shall decide all questions
voted upon. except as otherwise provided.
within one week from their election
as above provided for, the Board of hi
rectors shall elect from among their mem
bers President and Vice President;
they shall also elect a Secretary Treasur-
er, who may or may not be a member of
the Board or stakeholder, at the dis
erection Of the members of the Board.
All the said officers and directors shall
hold their respective offices for period
! of one uD year from the date of their
election, or until their successors are duly
elected
| The term of the first Board of Directors
and officers herein named, shall expire on
the first Tuesday in April. 1908 or until
their successors are duly elected as here
| In provided for, but the failure to hold
an annual election or to elect the officers,
as above provided for, 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 filled by the remain
ing members of said Board for the uneX-
pired term, at a meeting called for that
purpose. after ten (10) days prior notice
in writing. sent by mail to said directors
at their last known addresses, and if
the said Board fails to elect at said meet
ing then the election shall be made by the
stockholders at special meeting called
for that purpose in the manner herein
provided for the election of Directors.
The said Board of Directors shall have
the power to make all bylaws, rules and
regulations for the proper management
and conduct of the affairs of this corpora
ton and to change. alter, amend, or abOl-
ish the same at pleasure and shall have
and exercise all the powers conferred by
law on this corporation, and as set forth
in this charter.
The said Board of Directors may also
delegate any of said powers in the trans
action of the business of this corporation
to committees of their own body, or to
the officers and agents of this corporation.
All the employees of this corporation,
except the Offices of President and Vice
President shall be considered as employed
~! the Honth uhieSS olheTNlse COntrdcttu
The first Board of Directors of this
corporation is hereby declared to be: W.
b. Chilean of this city, f. a. McKoy of
this city, Anthony Wizard, Jr., of this city,
George w. Collier of State of Texas, and
W. f.. Payne of the State of Texas, with
the said W. ID. Chilean as President, the
said Il. A. McKoy as Vice President. and
the said W. Il. Payne as Secretary Treas
urer, who shall hold their respective Of
hces until their successors are duly elect
ed and provided for.
1t shall be the duty of the President of
this corporation, or in the event of his
inability to act, then the ce-President,
to call a special meeting of the Board of
Directors of the stockholders, on a writ
ten request to that effect signed by two
or more directors, or upon the written re-
quest of ten per cent of the stock issued.
Article yI-This corporation may be
dissolved by vote of three-fOurths of the
capital stock thereof, at general meet
ing convened for that purpose in the man
ner above provided, for the calling of the
meetings held annually for the election of
Board of Directors, except that in that
event a notice in writing shall be sent to
each stakeholder thirty days prior to said
meeting at his last known address.
Whenever this corporation is dissolved
either by limitation or otherwise its af-
fairs shall be liquidated by three liquid
general meeting. and in the case of death,
resignation or inability to act, of any of
the said commissioners, the surviving COM
missioner or commissioners shall appoint
"a successor, and together they shall con-
tinue the liquidation to its termination.
Article VII.-This charter may be chang
ed or amended and the capital stock may