The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-30

| associations of the State of Louisiana, OF
any other state, district, territory or cOun-
| try, and while owner of such stock to ex-
| ercise all the rights, powers and privileges
of ownership including the right to vote
| thereon, to the extent permitted by law.
| s. To acquire and hold shares, stocks,
| debentures, debenture stocks, bonds, obi
| cations and securities issued or granted
/ by any company, constituted in or car
| rying on its business in the United States,
| or in any colony or dependency or pos
and acquire, hold, sell, transfer, mort
gage, pledge or otherwise dispose of de-
bentures, debenture stocks, bonds, Obliga-
| tiOns and securities issued or granted by
| any government, municipality, district or
other public body.
o. To enter into, extend and receive
| any contract or assignment of contracts
for or in connection with any of the above
purposes; and, in matters wherein this
corporation shall be interested or con-
cerned, to guarantee full performance of
contracts and sub-cOntracts made by other
parties, and to advance money to such
parties and to endorse and guarantee pay
ment of promissOry notes and other OBJ
legations made or executed by them.
10. To buy, sell, lease, reclaim, Guilt
vate, develop and improve lands and real
estate, buildings improvements and ma
chinery necessary or convenient in connec-
tion with the business of this corporation.
Article IV.-The capital stock of this
corporation is hereby fixed at the sum of
one hundred and fifty thousand $3.50, OOO.-
00) dollars, divided into and represented
by fifteen hundred 15OO) shares of the
par value of one hundred ($lO0OO) dollars
each, of which shares two have been sub
scribed for and paid for in cash, and four
teen hundred and ninety-eight have been
subscribed for and paid for in the equiva-
lent of cash in property and contracts,
as shown by the detailed statement mark
ed Schedule A." attached hereto as part
of these Articles of Incorporation, the
property and contracts set forth therein
a. arA
of Directors as being worth in excess of
one hundred and forty nine thousand,
eight hundred (s149, 10000 dollars
An shares of stock shall be fully paid
shall be binding upon the corporation I'M
less made upon its books. All certificates
of stock shall be signed by the President
or First yice-President and the Secretary
and sealed with the corporate seal.
All transfers must be made upon the
books of the corporation by surrender of
the original certificate properly endorsed
for cancellation by the stakeholder in
by his or her duly authorized agent, and
upon receipt of said certificate, the Sec
rotary shall be authorized to cancel the
same and issue Il new certificate in lieu
thereof.
This corporation shall have the right to
increase its capital stock from time to
time, the limit of such increase to be the
sum of six hundred thousand (S6O0,OOOOOl
dollars, TO De also ulNlueu INTO Sndrts Vi
the par value of one hundred (S100.OO) dol
lars each; and provided said increase in
the capital stock or any part thereof shall
in each case have been authorized by the
vote of two thirds of all its stock, at a
meeting duly called and held in accord
ance with the provisions of Article vi or
this charter.
Article V.-The corporate powers of this
corporation shall be vested in and eXer-
cised by Board of Directors composed
of not less than five 90 nor more than
seven "a stockholders. In the event OF
there being five Directors, three 80 OF
them shall constitute quorum. In the
event of more than five Directors four a.
shall constitute a quorum. The Directors
shall be elected annually by ballot by the
stockholders on the third Tuesday in May
of each year, the first election to be held
on that date in 1918. and the following
shall compose three of the first Board of
Directors to be elected, to-wit:
II. III. McWilliams, cor. Bodley and Main
streets, Memphis, Tenn; A. W. Fisher, Jr.
cor. BOdley and Main streets, Memphis,
Tenn; X. ii. Burchell, 1918 SOniat street,
New Orleans, Louisiana.
All elections shall be by ballot, and no.
tice of each election shall be given as
provided in Article vi of this charter.
Each stakeholder shall be entitled to one
vote for each share of stock standing in
the vote to be cast either IN person or by
proxy, and it shall require a majority of
the stock present or represented to elect
Stockholders shall have the right of Gu
mulatiye voting in the election of Direc-
tors. The Directors thus elected shall
their successors are elected and qualified.
A failure to elect Board of Directors as
above provided shall not work a forfeiture
or this charter, but in case of such fail