The herald., 1918-04-18
CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY. NC

CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY. INC.
United States of America, State of Lou
isiana, Parish of Orleans, City of New
Orleans.
BE it known, that on this ninth day OF
the month of March, in the year of our
Lord. One Thousand, Nine Hundred and
Eighteen, and of the Independence of the
United States of America, the One Humid
red and Forty Second. Before me Charles
|. nenechaud, Notary Public. duly COM
misSioned and qualified, in and for the
Parish of Orleans, State of Louisiana
therein residing, and in the presence OF
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, ami being OF
full age of majority, who severally de-
clare, that availing themselves of the pro,
visions of the laws and constitution oil
this State, relative to the organization OIL
corporations, they have contracted and
and agree and bind, and Obligate them
selves, 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
their charter, to-wit:
Article 1.-The name of this corporation
Company, Inc" and shall have corporate
existence for the period of ninety nine
(99) years from the date hereof, and shall
have and exercise for the purpose of the
business to be carried on by it, all the
powers conferred by law on similar cor
pOratiOns, including the power to make
and use a corporate seal and the same &c
break or alter at pleasure; to contract
sue and be sued in its corporate name
to hold, own, receive. purchase, ALLEVIATE
lease convey, mortgage, hypothecate
pledge or otherwise cucumber property
both real and personal; to issue bonds
notes and other 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
auire, and to establish such bylaws
rules anr regulations as 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, Stat,
of Louisiana, but it may establish anC
operate factories, offices and agencies
wherever it may deem advisable. All eta
lions or other legal processes shall b'
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 purpose!
for which this corporation is organized
and the nature of the business to be car
| III
| The general turpentine, naval stores anC
lumber business in all its 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
any products of wood such as sash, doors
blinds, trimmings, boxes, furniture an'
articles of wood and its various by-pro
ducts. And Furthermore, to own ana Op
crate in connection with said business
tram roads, logging roads, sailing vessels
| steam vessels, and other water craft neces
sary for the transportation OF its mate
| rial and products and also do mercantll
| business.
Article Iy.-The capital stock of thi
corporation is hereby fixed at the sum o
Fifty Thousand Dollars ($50,OOO:OO), di
vided into Five Hundred 5000 shares o
One Hundred Dollars (SlOOOO) each
which said stock shall be paid for in cash
amounts as the Board of Directors ma,
determine or may be issued at par in pay
ment of property actually purchased an
such stock so issued shall be full pal
and under the restrictions of the pres
emily existing corporate laws
This corporation shall be authorized I
| commence business and be going con
| eern as soon as Twenty-Five Th0usan
Dollars (S25.00000) of its capital stock /
subscribed for, which amount is hereb
| declared to be subscribed. The snare
| of stock shall be transferable only on tn
books of the corporation and no transte
of stock shall be binding or have any ei
feet upon this corporation unless and un
til made upon its books and prior lie
on all shares of stock shall be retalne
by this Company on the STOCK or an
shareholder for any indebtedness' secure
| ro1 evidenced
ated, due at any time to the Company b
the holder of said stock and all transfer
of stock shall be made subject TO tines
conditions.
The capital stock of this Company ma
he increased up to an amount of On
Hundred and Fifty Thousand Dollar
(Sl5O,OOO by a vote of two-thirds (2-S
of the outstanding stock at meeting
stockholders called for that purpose, I
the same manner as provided for tn
meeting to elect Directors, and there sha
be given to the stockholders thirty (3C
days notice prior to said meeting, an
said capital stock may be reduced to a
amount not less than Twenty-Five Thou
sand Dollars ($25000.00) in the same maj
ner as above provided for the increas
of stock.
Article VAN the corporate powers
) this corporation shall be vested in an
exercised by a Board OF four ~ plre:
tors, who shall each be stockholder J
this corporation, three (3) of whom sha
constitute a quorum for the transaction
all business and a majority vote at an
meeting shall decide all questions vote
, upon.
Said Directors shall be elected annual
from the stockholders, on the first Tue
, day in January in each year, after oil
! notice of said meeting shall have bee
: given to each stakeholder, sent by ma
; to his last known address at least tiftet
. 15) days prior to the holding of sal
election. And all other meetings OF stool
: holders, the stockholders must be notihf
, in the manner above described at lea
/, ten (10) days prior to the holding of sue
i meetings. All other stockholders NEE
i ings, other than to elect Directors ms
: be held when ordered by the Board
, Directors or the holders of twenty -fi'
, per cent (25Go) of the outstanding stoc
The President shall call said meetin,
and upon his inability or failure so to d
same will be called by a Vice Presiden
At said election, and at all other NEE
ings of the stockholders, the vote sha
) be by ballot, and each share Of stock GU
standing shall be entitled to one ~ vo
: to be cast by the owner in person or
: written proxy. The majority of stot
e vested at any stockholders meeting shs
Il decide all questions voted upon except
a otherwise provided.