The herald. [volume] (New Orleans, La.) 1905-1953, 1918-02-14
CHARTERS.
among and paid to the holders of tom
mon Stock, ratably according to re-

| spective shares.
| No holder of any of the PreferrStoek
OF this corporation shall have the 1t C
sell or otherwise dispose of any of Pre-
IN writing to the Board of Directors thi
corporation, through its Presidentyhich
Board OF Directors shall have ten days
WITHIN which to accept or refuse toffer,
out said Board of Directors shall the
right to purchase any or all of ss stock
SO onered at its par value, plus anycrued
dividends and plus any interest wi said
stock may have in any amount to tcredit
OF the Preferred Stock Surplus punt"
In the event the business of the cSration
shows loss for the current year TO the
GATE OF the purchase of any such ferred
STOCK by this corporation, then ann that
event there shall be charged TO thnterest
SAID purchased stock may have in Pre-
ferred Stock Surplus Account" supropor-
ton OF said loss as said PreferreJock SO
purchased bears to the then issuedd out
standing Preferred Stock of the Grafton
should the Board of Directors fap avail
itself of said privilege within saidriod of
time, the said stock may be oed and
sold to any other person or persorsubject,
however, to all the conditions cont.d here
in.
The Common Stock of this corpoon shall
be entitled to such dividends may be
declared by the Board of Direct subject
TO the provisions heretofore set in this
Article of this Charter and shall entitled
to share in the assets and fu of the
corporation IN the manner hereinescribed
All voting rights of every kirshall be
exclusively vested in the hole of the
lennon Stock, each holder beinntitled ts
one vote for each share standing his name
on the books of the corporation hich vote
may be cast either in person oy proxy
The Common Stock shall be tnow out
standing One Hundred QOO sts of the
present stock of this corporation, lich stock
shall hereafter be known and Bnated as
Common Stock. All certificate such stock
shall be called in and new chcates for
Common Stock shall be issued refor.
No stakeholder shall have thesht to sell
or otherwise dispose of any Cmon Stock
OF this corporation without firsfferirg the
same in writing TO the Board Directors
OF this corporation, through President,
which Board shall have ten Odays within
which to accept or refuse the T, but said
Board of Directors shall hav1e right TO
purchase the Common Stock SO cred or any
part thereof at its book val irrespective
or what price may have be offered by
anyone. Should said Board directors fail
to avail itself of said privile within said
period OF time, the. said Com, Stock may
be offered and sold to any sr person or
persons. subject, however, tol the condi-
tons contained herein.
The amount to which the dial Stock of
TINS corporation may be missed, in the
manner provided by law, sh be the sum
OF One Hundred Thousand Ollars (SlOO,
OOm all of which said ieased Capital
Stock shall be Preferred SS.
In the event the Capitastock OF this
corporation is increased, onlye holders and
owners OF the Common Stochall have the
privilege of taking additionshares in the
proportion which the shareleld by them
bear to the entire Common OK of the cor
Dnr9frAn -sxrtta .
within thirty 800 days, army shares not
taken at the expiration Chat time may |
De disposed of by the Boarf Directors for
he benefit of the corporatiot not less than
heir par value.
Article V.-All of the ccrate powers of
his cooperation shall be we'd in and exer-
Used by Board of Dire's, composed of
rot less than Five (sD nosore than Seven
" stockholders, a MAORI of whom shall
Constitute quorum. Said rectors shall be
elected annually on the ird Tuesday in
anuary in each year at general meeting
Il the common stockholde except the first
Directors appointed in thiaarter, who shall
lold their offices until Third Tuesday
n January, 1919
II, at any time, a leslumber than the
naximun be elected bthe stockholders,
hen the Board of Direct, may elect others
lot exceeding the MAXIM number for the
Inexpired term. All elons of Directors
hall be held by ballond conducted at
he Office Of the corpor0n under the SUI
ervision of two (2) coussioners to be APP
ointed by the Board of rectors. Notice OF
UGH meeting and Of aother stockholders
meetings shall be givef1 the manner pre-
cribed by law. and wi not so prescribed.
hen written notice ofIch meetings shall
e deposited at least en- GS days prior
D the date of such melg in the post-office
{ the City Of New Orns, postage prepaid,
roperly addressed to1ch common stock
older at his last knc residence or place
business.
At all such electiound at all corporate
ieetings every comm eckholder shall be
ntitled 10 one vote each share of Com
ION Stock standingI his name on the
ooks of the corporal, to be cast by him
n person or by higritten proxy, and a
iajority of the voteast shall elect. Any
acancy or vacancitoccurring among the
directors by deathesignation, or other
Use. shall be flieE election for the I'M
xpired term by ttremaining Directors.
The failure to ell, Directors on the day
bove specified, sh: not dissolve the cor
oration, nor impaSts corporate existence
r management, bathe Directors then in
flee shall remain Office until their sue
>ssors are electedHd qualified.
The Board of Dctors shall annually at
$ first meeting er election, elect from
5 own number President, a First Vice
resident, a Sec. Vice-President and a
bird Vice-Presid. 1t shall also elect
ecretary and treasurer, or one person
no may be boteither or both of whom
ay or NAV not. members of the Board.
II of said Office must be the owners and
,lders of eitherne Common or Preferred
took of this coration. The Board of Di-
ctors may also ct not more than two (2)
ssistant Secrets, neither of whom need
members of Board or stockholders in
is corporation. The Board of Directors
Iall have powerld authority to name and
point all such er officers, agents and en- !
oyees as may deemed necessary for the ,
lrposes and bness of this corporation. !
lid Board shahave power and authority I
fix the competition and define the duties !
every officer , employee, and all officers /
i'd employees IL hold Office and employ
emit at the pldre of said Board. $
I'll as alter a amend, any and all by +
VS., rules anregulations necessary and '
oper in its jcment for the conduct and I
of,e business and affairs of +
i'd corporation v
At all meetin of said Board of Directors, {
oh Director 81 have the right to appoint
,m amongst ! directors a proxy to act
his place arstead. 2
Said Board 81 have full power and au-
Ority to borr money, execute mortgages, l.
d create lier to tissue bonds, notes and =
her obligation and to secure the same by
'rtgage, pledtor otherwise, and generally
do any andl things reasonable, conven- =,
It and necery for the proper carrying =
of the buses and affairs of said cor y
ration.
said Board issue full paid shares of
,ck for caslr in payment of labor done r.
performebr said corporation, or prop a
y actually ceived by said corporation, s.
On complyirwith the formalities required s.
law. s.
Article Whenever this corporation
I'll be dssed, either by limitation or L
m any otl cause, its affairs shall be 4,
Undated bywo (2) commissioners to be a
pointed fro amongst the holders of the m
mman Sto, at a general meeting of the o.
nmon stos>lders convened for such pur- q
e; two-ths in amount of all the QUIT +
nding Coon Capital Stock of this cor a
alton repented at such meeting shall II
requisitto elect. Said commissioners e