The herald. [volume] (New Orleans, La.) 1905-1953, 1918-04-04

State of Louisiana in such cases made and
provided, they have formed and organized,
and do by these presents form themselves
and such others as may hereafter become
associated with them into, a corporation and
body polite in law, for the objects and pur-
poses in the following articles set forth and
express, which they adopt as their Charter
l.. The name and title of this corporation
shall be, American Commercial COMPANY
incorporated, and it shall exist and enjoy
succession by its corporate name for a period
of ninety-nine years from date hereof, with
all the rights and powers now or hereafter
conferred by law upon similar corporations
Its domicile shall be in the city of New Or
leans, Louisiana, and all citations and other
legal process shall be served upon the Presi-
dent, and in the event of his absence upon
the Vice-President, or Secretary, in the order
named.
II. The capital of stock of this corporation
is hereby fixed at Fifty Thousand (s5OOOO)
Dollars. and said stock shall be divided in.
to and represented by Five Hundred $500
shares of the par value of One Hundred
(slOO) Dollars each. Stock may be paid for
IN money, in services rendered to the corpora
tion or in property and good will regularly
transferred to the corporation.
OF the capital stock herein provided for
Thirty Thousand $4,000 Dollars shall be
common stock and Twenty Thousand &c.
COO Dollars shall be preferred stock. The
holders of preferred stock issued and out
standing shall be entitled to receive ratably
al uiVluenuS until the aggregate amount OF
dividends received thereon shall be equiva-
lent to the par value of the preferred stock
on which such dividends are paid, and in
the meantime, no dividends shall be paid on
on common stock; and such holders shall, in
the event OF liquidation, voluntary invol-
untary, be entitled TO receive from the assets
OF the corporation amounts equivalent to the
difference between the aggregate amount of
dividends received thereon and the par
value Of the preferred stock held and owned
by them, before any payment whatever on &C
count OF common stock. When the aggregate
amount of dividends paid on any preferred
stock shall be equivalent to the par value
thereof such preferred stock shall ipso facto
be converted at par into common stock at
par and the certificates therefor shall be
cancelled and new certificates shall be issued
TOR such converted common stock. Preferred
stock shall carry the same voting powers as
common stOc.
III. The purposes Of this corporation are
to carry on, and license others TO carry on
all or any part of the several businesses
enumerated in this paragraph, to wit: the
business OF manufacturers, merchants, traders,
importers, exporters, and dealers in and with
goods. wares, and merchandise of every des-
cription; of establishing, financing, develop
ing, managing, operating and carrying on in
dustrial commercial, trading, manufacturing,
mechanical, netallurgical, engineering, build
ing, construction, contraction, mining, smelt-
ing, quarrying, refining, chemical, ice, real
estate, logging, numbering, agricultural, plan
tatIon, darying and maritime enterprises,
Undertakings, propositions, concessions of
franchises in their respective branches; of
constructing, equipping, improving, working,
developing, purchasing, selling, leasing, hir-
ing, mortgaging, operating, and dealing IN