The herald., 1918-05-16
4S19OO
100000
ARTICLE ".


100000
ARTICLE ".
The capital stock of this corporation
| is fixed at the sum of fifteen thousand
dollars, divided into one hundred and
| hundred dollars each. All shares of
stock shall be full paid and non-assess-
| able. No transfer of stock shall be
binding upon. the corporation unless
made upon it's books and all GER
| tificates 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 (S1O0.00) 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 to purchase
the 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 he vested in. and the
management and control of its affairs
shall be exercised by a board of direc-
tors composed of three stockholders. A
majority of the directors shall consti-
tute quorum for the transaction of
business. The directors shall be elected
annually by ballot; the first board of di-
-ectors shall be elected on the third
Monday of February, 1919.
Il l. 4 II. l. L.
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
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 its
number a president a vice president,
secretary and treasurer. Said board
shall have the right to consolidate any
two of said officers into one, or segre-
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 its or
ganiza ton have the effect of rendering
this charter null, or of exposing a stock
holder to any liability beyond the un-
paid balance due on his unpaid stock
o""eu " ARTICLE VII.
|. This act of Incorporation may be
changed, modified or altered or this cor
pora ton 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
stakeholder. at his last known address.
In case of dissolution by the expiration
of this charter or otherwise. the stock
holders shall elect three liquidators
from among their number to liquidate
and settle the business and affairs of
the corporation.
ARTICLE VIII.
Ten thousand dollars (s10.000.00) has
been subscribed to the capital stock of
this corporation, as follows:
Salvatore Battaglia, sos st. Philip St,
New Orleans, $500, (25 shares).
Joseph Foto, SOS st. Philip St, New
Orleans, $500 (25 shares).
Bartholomew Pirrone. 1912 Bourbon
St, New Orleans. $4,000 (25 shares).
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
Bartholomew Pirrone as secretary-treas-
urer.
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
croix, both of this city, competent wit
nesses. who sign these presents with
said appearers and me, notary, except
Widow Salvatore Greco, who having de-
clared that she was illiterate. made her
usual mark.
Original signed): Salvatore Battag-
liza, 25 shares; Bartholomew Pirrone. 25
shares; (Widow) Rosa cher Y mark)
Greco, 25 shares; JOS. Foto. rs shares.
witnesses: John j. Wingrave, l.. de
Lacroix. THEO. COTON1O,
Notary Public.
I, the undersigned Recorder of Mort
cages, in and for the Parish of Orleans,
80 7 fCia 40 har NV fv