The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-09
4s19OO
100000
ARTICLE ".

celNaDle $4,000
$4,000. 90
ARTICLE ".
The capital stock of this corporation
is fixed at the sum of fifteen thousand
dollars, divided into one hundred and
nifty shares of the par value of one
hundred dollars each. All shares of
able, No transfer of stock shall be
binding upon the corporation unless
made upon it's books and all GER
tihcateS of stock shall be signed
by such officers as may be designated
by the board of directors. This corpora
tion shall have the right to increase it's
capital stock to the further sum of
100000, one hundred thousand dollars
to be divided into shares of one hundred
dollars ($100.00) each. provided such in
crease in the capital stock shall have
been authorized by three-fourths of the
stockholders at a meeting held for that
purpose after being duly notified in
writing. No stock shall be sold by any
stakeholder until the same shall have
been offered for sale to the corporation
which shall have the right tn purchase
he same. and no transfer shall be made
upon the books of the corporation until
the stock has been so offered and de-
clined. In the event of the increase of
the capital stock the additional shares
shall be first offered to the stockholders
DESTROYS of subscribing to such in
crease.
ARTICLE V.
All the corporate powers of this cor
poration shall be vested in. and the
management and control of it's affairs
shall be exercised by board of direc
tors composed of three stockholders. A
majority of the directors shall consti-
tute a quorum for the transaction of
business. The directors shall be elected
annually by ballot; the first board of di-
rectors shall be elected on the third
Monday of February, 1919.
Each stakeholder shall be entitled in
person or by proxy, to vote for every
share owned by him, and all elections
shall be held under such rules and regu-
lations as may be determined by the
board of directors; after fifteen days
notice by mail of such election shall
have been sent to each stakeholder at
his last known address. The directors
thus elected shall continue in office for
one year, or until their successors shall
have been duly elected and qualified. No
failure to elect shall be regarded as a
forfeiture of this charter. Any vacancy
occurring on said board shall be filled
by the remaining directors for the unex-
pired term; the said board shall like
wise elect the additional members in
case they should determine to increase
the number of said board. The said board
of directors shall. at it's first meeting
after it's election, nominate out of it's
number a president, a vice president, a
secretary and a treasurer. Said board
shall have the right to consolidate any
gate said officers. as also their right to
appoint and dismiss such clerks, man.
ayers and other employees of the cor
poration as conditions may justify or
the business of the corporation may re-
quire. The tenure of office of all the
employees shall be during the pleasure
of the board of directors.
ARTICLE VI.
No stakeholder shall ever be held liza
BILE or responsible for the contracts.
faults or debts of said corporation nor
shall any mere informality in it's or
ganization have the effect of rendering
this charter null, or of exposing stock
holder to any liability beyond the un-
paid balance due on his unpaid stock
owned by him.
This act of incorporation may be
changed. modified or altered or this cor
poration may be dissolved, with the as
sent of the stockholders owning two
thirds of all the stock of the corpora
ton at a general meeting convened for
that purpose, after at least fifteen days
written notice of this meeting has been
given through mail; addressed to each
In case of dissolution by the expiration
of this charter or otherwise, the stock
holders shall elect three liquidators
and settle the business and affairs of
the corporation.
ARTICLE VIII
Ten thousand dollars (s10000.00) has
been subscribed to the capital stock of
this corporation. as follows:
Salvatore Battaglia, 535 st. Philip St.
New Orleans, $4,000, (25 shares).
Joseph Foto. 535 st. Philip St, New
$500 (25 shares).
Bartholomew Pirrone. 1912 Bourbon
ST.. New Orleans. $4,000 (25 sharesD.
Widow Salvatore Greco, 535 st. Philip
St, New Orleans. $4,000 (25 shares).
ARTICLE TX.
Until the election to be held on the
third Monday of February, 1919, the fol- |
lowing shall constitute the first board
Of directors. viz:
Salvatore Battaglia, Joseph Foto, Bar |
tholomew Pirrone, of whom the said
Calvatore Battaglia shall act as presi- !
dent, Joseph Foto as vice president, and
Pirrone as secretary-treas- |
lrer.
Thus done and passed in my office at
the City of New Orleans, on the day |
and date first above written. in the pres |
ence of John j. Wingrave and l.. de La |
,roix, both of this city, competent wit |
nesses, who sign these presents with |
said appearers and me, notary, except |
Widow Salvatore Greco. who having de-
,lared that she was illiterate. made her |
usual mark.
(Original signed): Salvatore Battag- |
ia, 25 shares: Bartholomew Pirrone, % |
(Widow) Rosa cher Y mark) |
Greco, 25 shares: Jos. Foto. 25 shares. |
Witnesses: John j. Wingrave, L. de |
Lacroix. THEO. COTONIO,
Notary Public.
/, the undersigned Recorder of Mort |
cages, in and for the Parish of Orleans. |