The herald. [volume] (New Orleans, La.) 1905-1953, 1918-12-26
CHARTER

shall have the further right TO separate the
office of Secretary Treasurer, may select
a Secretary who is not a stakeholder. The
said board shall have the right to fill vacan-
cies occurring on said board. and directors
representing a majority of the issued CAPT
tai stock shall be present at any meeting of
the Board Of Directors to constitute quorum.
The said directors shall have the right TO
adopt bylaws, rules and regulations for the
proper conduct Of said business, and the
same to alter at pleasure, TO borrow money.
execute mortgages, issue notes. pledges,
bonds or other obligations, il thinks proper
without reference to the stockholders. They
shall have control over the issuance of the
above capital stock so that any stakeholder
desiring to dispose of his stock shall first
offer the same to the Board of Directors
for the benefit of the corporation, who with
in ten days, from said offer shall have the
right to purchase said stock according to
the books of said company, at last inventory
and stocktaking. but should said corpora
delay, then said stock may be sold to the
other stockholders the same basis the
offer to the company, and in event OF no
purchase by said stockholders than said
election to be held on the first Monday Of
January, 1920, the following shall constitute
the first Board of Directors, to-wit: Frank
X. Dufour. Paul J. Dufour and Leon L.
Olberding, with said Frank \. Dufour as
President. Paul ]. Dufour as Vice President
and Leon l. Olberdng as Secretary Treas
urer.
ARTICLE VINO stakeholder shall ever
be held liable or responsible for the con-
tracts or faults of this corporation in any
further sum than the unpaid balance due on
the shares of stock subscribed for by him, nor
shall any mere informality in its organiza-
ton have the effect of rendering this char
ter null or Of exposing any stakeholder to
any liability beyond the amount of his
stock.
ARTICLE vII.-This act of Incorporation
may be amended. and its capital stock in
creased, or the corporation may be dissolved.
in the manner now provided by law. Upon
the dissolution of the corporation, its affairs
shall be iiquidated by three commissioners
to be appointed at a meeting of the stock.
holders convened for liquidation, TO be
elected by a vote Of all the stockholders
Said liquidators shall remain in office until
the affairs Of said corporation shall be
have fuilspo@er to transfer and give title to
all the property and assets OF the corpora
ton. at public 9r private sale, and 10 dis.
tribute the proceeds. In .ase OF death Of
disability or resignation on any Of said
commissioners, the vacancy shall 'e filled
by the survivor or survivors.
Thds done and passed in my office. on the
the presence of Daniel ]. Murphy and
George Keller, competent witnesses, who
have signed with the appearers and me, the
Notary. after reading tfe whole.
Original SigneD Frank X. Dufour, bl6
Lepage ST.. % shares; Paul J. Dufour. 7,6
2l6 ". Lopez ST., 2 shares. Witnesses: Dan
iel ]. Murphy. Geo. Keller.
A. GUBLBAULT. Notary Public.
I, the undersigned Recorder Of Mortgages,
in and for the Parish of Orleans, State OF
Louisiana, do hereby certify that the above