The herald. [volume] (New Orleans, La.) 1905-1953, 1918-07-11
CHARTER OF
THE DELTA sHIPBUILDING COMPANY
INCORPORATED.

United States Of America. State of Louis
lana. Parish of Orleans, City of New
Orleans.
BE it known, that on this the eighth
day of the month of June in the year OF
our Lord one thousand nine hundred and
eighteen. and of the independence of the
United States of America, the one hundred
and forty second, before me-. Joseph Sinai
a notary public, duly commissioned and
qualified, in and for the Parish of or
leans, therein residing, personally came
and appeared:
The persons whose names are hereunto
subscribed, who declared that ayaiIing
themselves of the provisions of the laws
OF this State relative to the organization
of corporations, and more particularly of
Act 26I of the General Assembly of this
State, approved July 9th, 1914. they have
covenanted and agreed, and do by these
presents, covenant and agree, bind, form
and constitute themselves as well as such
persons who may hereafter join or be-
come associated with them, into Il cOrpOr-
alton and body polite in law. for the
objects and purposes and under the agree
ments and stipulatiOns following, tO-wit
Article 1.-The name and style of this
corporation shall be the Delta Shipbuild-
that name IL shall have and enjoy oil the
rights, advantages and privileges granted
by law to corporations; il shall exist for
the period of ninety-n nine years from this
date; il shall have the power to contract.
sue and be sued in it's corporate name: 10
make and use a corporate seal and the
same to break or alter at its pleasure
10 hold; receive, purchase. convey, mort
gage, hypothecate or pledge property.
both real and personal; to issue bonds.
notes and other obligations or negotiable
instruments; to have and employ such
managers, directors, officers, agents and
other employees as the interest and CON
venience of said corporation may require
or demand: to make and establish such
bylaws, rules and regulations for the cor
porate management and control of the af-
fairs of the corporation as may be deem
ed necessary, convenient and expedient
Article 1.-THE dOmicile of this corpor-
alton shall lie in the City of New Orleans,
other legal process shall be served on the
PRESIDENT, or in his absence, upon the
Secretary.
Article III.-The objects and purposes
for which this corporation is organized,
and the nature of the business to be car
ried on by it, are hereby declared to be
as follows, to-wit:
To build, make, operate, maintain. buy.
sell, deal in and with, own, lease. pledge
and otherwise dispose of ships, vessels
and beats. made of concrete and of every
nature and kind whatsoever, together with
all materials, articles. TOOLS machinery
and appliances entering into, or suitable
and convenient for the construction or
equipment thereof, and together with en-
glnes, boilers, machinery and appurten-
snces OF all kinds, tackle, apparel and
furniture.
To construct and maintain for the use
of the company. or for letting out on
hire, craving and other docks, and other
conyeniences for the building, repairing
or docking of ships and other vessels,
struction Of any such works
10 buy or otherwise acquire ships and
Vessels complete or not complete, sound
or out Of repair, for the purpose of i'm
proving. repairing, reselling, letting out
to hire, or otherwise make nro6t ont
of the same.
To buy, lease or otherwise acquire real
estate necessary for docks and dock IA
c1lit1es, and to furnish material necessary
In the furtherance of the purposes of the
company; to acquire rights of way, for
the construction of line of railway; to
survey, construct, build, erect, own, lease.
mortgage, operate and maintain sell or
otherwise dispose Of a line or railway for
the purpose of carrying into effect the
above named objects and purposes.
10 own, manage and operate stores in
-
To subscribe to any association, insti-
tutlon, or company calculated to benefit
the company, or persons employed by the
company, or persons having dealings with
the company.
And generally to do and perform any
thing or act necessary, convenient or
proper proper for the CARRYING into effect of the
above named objects and purposes.
Article IV.-The capital stock OF this
is fixed at the sum of nine
y, nine thousand nine hundred dollars,
lSD9 eO0.OO), divided into ninety-nine hun
bred and ninety share of the par value
Of ten $1,000 dollars each. All shares
able.
Said stock shall be paid for in cash. or
The same may be issued. at not less than
par, for labor done or for services rend- |
cred to the said corporation, or for prop |
erty or rights actually received by said |
corporation.
This corporation shall have the right |
% increase its capital stock up to the |
,urther sum Of five million dollars (S5,OOO,- |
10000, or any part thereof, to be divided |
INTO shares of ten dollars $1,000 each. !
provided said increase in the capital stock |
hall have been authorized by the stock |
holders at meeting held pursuant to the |
provisions Of the law.
This corporation shall have and enjoy |
he rights to purchase shares of stock In |
'ther corporations. partnerships or other |
interests as may be found necessary, ex- |
)edient or advisable.
This corporation shall be and become |
! going concern when fifty (J0) percent of |
is stock shall have been subscribed for |
Article V.-All the corporate powers of |
ms corporation shall be vested in. ana |
Exercised by, Board of Directors com /
POSED of not less than five and not more
han nine stockholders, majority of |
whom shall constitute quorum for the /
transaction of all business.
The Board of Directors herein named |
hall have the. powet and authority to
Iugment its number by any addition up
o the maximum number of nine mem
The Directors shall be elected annually I
~ ballot by the stockholders. on the
econd Monday of June in each year The
lrst election under this charter shall be
ield on the second Monday in June, 1920.
Each stakeholder shall be entitled in
,erson or by proxy, to one vote for every /
mare OF stock owned by him, and all
lections shall be held under such rules
ma regulations as may be specified by 1
ne Board Of Directors after fifteen Q5) II
avs notice OF such election shall have
een sent to each stakeholder at his last
nOwn address II
No failure to elect Directors shall be
egarded as forfeiture of this charter.
ANY vacancy occurring on such Board
Directors shall be filled by the remain
ng Directors for the unexpired term.
said Board Of Directors, shall, at fits
rst meeting after its election, nominate.
rr Of Its own number n President n