The herald. [volume] (New Orleans, La.) 1905-1953, 1918-06-27
CHARTERS.

out the objects ana purposes "
zaton.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City OF New orleans;
Parish of Orleans, State OF Loulsldnd', La
ali citations or other legal process shal DC
| served upon the President, OF III MS "O
upon the Vice-President.
ARTICLE III-The objects and purposes
| for which this corporation is formed ana 'ne
| nature of the business to be carried on Oy II
are hereby declared TO be:
| To lend money and negotiate ioans' 70
dravy. accent, endorse, discount, buy, sell,
| and deliver bills Of exchange, promIssory
notes. bonds, debentures, coupons ana o'"et
negotiable instruments and securilGs'
| issue on commission, subscribe tor take d.
ouire and hold, sell exchange, ana dedi III
! Shares stocks bonds obligations, securities
| of auy government, or authority or company
! to form, promote, subsIdize, ana assist Gun
panies, syndicates and partnerships Oh all
| kinds; 10 give any guarantee ior the pay
ment of money the performance OF any
! obligations or undertaking.; 70 undertake anu
execute any trusts, to acquire, improve,
manage work, develop, exercise all rights IN
respect Of, lease, mortgage, SELL dispose q
| turn to account and otherwise deal WIN
property OF all kinds and IN particular re
lating to lands, buildings, CONCESSIONS pa
TO enter into any arrangements with any
authorities, municipal, local or otherwise
that may seem. conductive to the company
objects or any OF them and to obtain from
rights, privileges and concessions which the
company may think II desirable 10 Obtain
| and to carry out, exercise and comply WIN
any such arrangement, rights, privileges ana
| concessions and in all cases where author
lied by law, 10 act as the agent tor insur'
ance companies or other corporations, or for
individuals, and in all cases where permit
ted by law, 10 act as trustee or receiver IN
bankruptcy, or liquidatOr or receiver OF cor
porations; to act depository and to guar
antee the value Of properties and accounts;
generally TO carry on and undertake any
business usually undertaken by capitalists,
promoters, financiers, cOncesslonaIres, midi
viduals, contractors, for public and other
works, merchants, and any other business
being conveniently carried IN connec-
ton with the above or calculated directly
| or indirectly 70 enhance the value OF or
render profitable any OF the company prop
any and all things appertatining to, growing
out Of and relating TO the nature OF the
aforesaid objects and purposes.
ARTICLE IV-The total authorized CAPT
= thousand, five hundred dollars S25,O0OO
OF such total authorized capital stock, two
hundred and fifty ESQ shares shall be pre-
t ferred stock of the par value OF One Hun
dred Dollars (Sl0O00) each, and five hun
e bred 900 shares shall be common stock Of
5 the par value OF one dollar (Sl.O0) each.
From time 20 time, the preferred stock and
e the conrnan stock may be increased accord
Il amounts and proportions as shall be deter
mined by the board of directors, and may
: be permitted by law. The holders of the
: preferred stock shall be entitled to receive
: when and as declared, from the surplus or
; net profits OF the corporations, yearly divi-
= dends at the rate of eight per centum per
5 annum, payable annually. The dividends
4 on the preferred stock shall be cumulative,
h and shall be payable annually. The divi-
g dends on the preferred stock shall be cunu-
u lative, and shall be payable before any divi.
, dend the common stock shall be paid
: or set apart; SO that, If any year dividends
I amounting TO eight per cent shall not have
!; been paid thereon, the deficiency shall be
u payable before any dividends shall be paid
. upon or set, apart for the common stock
! Whenever all cumulative dividends the
;. preferred stock for all previous years shall
a have been declared, and shall have become
Y payable, and the accrued dividends for the
current year shall have been declared anc
the company shall have paid such cumula
. tive dividends f0E previous years, and such
Il accrued dividends, or shall have set aside
- from its surplus or net profits sum suffi
:, further dividends be declared out OF any
~ remaining surplus net profits, the board
- OF directors shall declare dividends on The
e common and preferred stock share and share
:, alike, payable then thereafter. In the
% event of any liquidation dissolution OIL
% winding up whether voluntary involun
n tary) of the corporation, the holders of the
preferred stock shall be entitled TO be paiC
in full both the par amount of their shares
: and the unpaid dividends accrued thereon
e before any amount shall be paid 10 III,
4 holders of the common stock; and after tbs
stock OF its par value, and the unpaid &C
II crued dividends thereon, the remaining as
i sets and funds shall be divided and paid Il
= the holders of the common stock accordin,
a 10 their respective shares.
e The capital stock of this corporation ma,
e be increased to one hundred thousand dol
Re lars (Slp,pOOO) according to law.
n, No transfer OF stock shall be admitted o.
e held to be valid or binding, so far as tn,
D, company is concerned, unless made upon III,
L books OF the company. No sale or stool
l. shall be valid unless such sale is accompa
MED by written certificate signed by tn,
n President or Vice-President and Secretary
L Treasurer of the Company, to the effect tina
n such stock is offered to the remaining di
az rectors proportionately through the board o
- directors at its book value for period o
} ten days and they have failed or decline,
> to purchase same.
a Said corporation may and it hereby re
"a serves the right to purchase, redeem, retir
10 and cancel any and all of the then outstand
ing preferred stock of the corporation within
a. sixty days after the end Of any fiscal yea
3 IN such amounts from time TO time and il
IF such manner as the board of directors ma,
4 determine, by paying to the respective hold
is ers of the stock so retired, or by depositin
pr to their order at the office of the company
l. sum or sums equal to the par value Q
d the preferred stock so retired and cancelled
m dividends thereon, if any, plus the sum O
Dr. ten dollars $1,000 per share. In case O
c. such deposit, written notice thereof shall
rs forthwith be given to the respective holder
n OF the stock so retired and cancelled by mail
Ia ing such notice to such holders at their las
ne known place of abode or business, if show
i'd by the corporate records
ARTICLE V-No stakeholder shall ever h
We held personally liable for the faults or cor
es tracts OF said corporation in any further su,
IN than the unpaid balance due TO the corpora
er ton on the shares owned by him, nor shaI
Oh any, mere informality have the effect {
3 rendering the charter null, or of exposin
any stockholders TO any personal liabilit
al beyond the unpaid balance due on his stool
ne ARTICLE VI-All the corporate powers {
to THIS corporation not reserved by law to th
r stockholders shall be vested in and exc
er cised by Board of Directors to be con
posed OF not less than three stockholder
nor more than five, holding common stool
a majority of those elected shall constitut
t. quorum TO transact business. The Dire
IS, tors shall be elected annually by ballot b
at the holders of common stock, at a meetin
a convened tor that purpose after fifteen day
-" written notice to each stakeholder mailed
ce ms last address as per the books of the Co
poration. The preferred stock shall have r
voting power.
IT, The Directors at their first meeting an
at each annual meeting shall elect fro
theIr number President, Vice Presiden
secretary and a Treasurer, which last tw