The herald., 1918-04-25
ARTICLES OF INCORPORATION OF
AMERICAN COMMERCIAL COMPANY,
INCORpOR ATEn

State of Louisiana, Parish of Orleans.
Be it known, that on this, the 18th day of
March, 1918, before me, Thomas E. Furlow, a
duly COMM ssioned, qualified and acting
Notary Public in and for the Parish of Or
leans, State of Louisiana, and in the presence
of the hereinafter named and undersigned
witnesses. personally came and appeared
the several persons whose names are hereunto
subscribed, and severally declared that, avail
ing. themselves of the general laws of the
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.
/. 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 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 (sS0,0O0)
to and represented by Five Hundred (s00)
shares of the par value of One Hundred
(slOO Dollars each Stock may be paid for
in money, in services rendered to the corpora
ton or in property and good will regularly
transferred to the corporation.
OF the capital stock herein provided for
Thirty Thousand ($30000) Dollars shall be
common stock and Twenty Thousand CO.
OOO) Dollars shall be preferred stock. The
holders of preferred stock issued and out
all dividends 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 or 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
for 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
|
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, metallurgical, engineering, build
ing, construction, contraction, mining, smelt.
ing, quarrying, refining, chemical, ice, real
estate, logging, numbering, agricultural plan
tation, dairying 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
and with all manner of development works
and conveniences, including docks, harbors,
piers, wharves canals, reservoirs, embank-
| ments and improvements; sewerage, drainage,
sanitary and other engineering works, not
| TOR public use; water, steam, water power,
water supply and refrigerating plants; ware
houses, markets, buildings, tunnels, bridges,
conduts viaducts and other works and con-
veniences, not for public use; of purchasing
or otherwise acquiring, maintaining, selling:
pledgIng, mortgaging, leasing, hiring and
| fulfilling any contracts, franchises or con-
cessions for or in relation to the construc-
ton, execution, equipment, management, op-
Grafton or control of such works, and of I'M
dertaking, executing. carrying out, disposing
| of, or otherwise turning to account the same !;
and also, so far as necessary or incidental
| to, or connected with any one or more of or
all OF the corporate purposes, to undertake
| any lawful business transaction or operation
undertaken or carried on by capitalists, or
hnaneiers, and to carry on a general hnan-
cial business and financial operations of all
kinds.
The foregoing clauses shall be construed
both as objects and powers, but no recita-
| ton, expression, or declaration of specific or
special powers purposes herein enumera-
| ted shall be deemed to be exclusive; but it
is hereby expressly declared that all other
lawful powers not inconsistent Herewith are
| hereby included
Nv. The corporate powers of this corpora
ton shall be vested in Board of Directors
| of not less than Three 90 or more htan (9
| Five, a majority of whom shall constitute a
quorum for the transaction of business; and
the officers Of this corporation shall be a
President, Vice-President. Secretary and
9 Treasurer. with the option of one person
for Secretary Treasurer.