The herald., 1918-06-27
CHARTERS
CHARTER.
.urpMAN BROS. & CO., INC.


pelav Of the month Oh l" -, 80 S,stes oi
ouf Lore one Hundred and forty second )
America 'HS Never Samuel DreItus, NO
Before ' d1ly sworn, commissioned and
tafy Iu IN and foT the PARISH ana otate
quairle;d and in the presence OF inc VIII
sfoies Hereinafter named anu uiiue i n i'l
pesses HIiv came aud appeared the per
PERSONAL names are hereto subscribed as
sons WIZ he full age OF majority, RESIDING In
such, Oh III 81 orleans who declared to me,
the fAl;i;ng themselves Of the laws OF this
that ssis,;Ve TO the organization OF SoIpo-
S'a.e and more particularly OF Ae' Z" VI
rstions, =, the General Assembly OF the
the hess ouisiana Tor the year l9l4, page
STATE u At 232 Of 1910, page S9S, they nave
%, anu and agreed, and by these pres
oovenan'.sua vsnant and agree for themselves,
ents ~. ~ successors and assigns TO form
ana.iSrs into a corporation ana Ooqy pom
u s for the objects ana purposes a ~ ~
&c iO foundations hereinafter set iorth' 10
wit: ri, ~. and title of thi
AkI.C sbaI be Sherman Bros. x Co.,
cory" md under such title 1t snail nave
ine' ;ov succession and existence ior
ana 81 niuety-niue years from date mere
peI'V. shau have power and authority 10
o., ,,,,et. sue and be sued, make ana use
eonue. seai the same TO break or after
eofp"s,,,e. 10 hold, sell, lease, mortgage,
o. psssss,e or pledge property real, personal
hyPo.I NECESSARY, incidental or proper Tor
~.s,Tyiug on Of its business, and 10
ue &c. ,lect and appoint managers director
hes~, .lsrks or other employees 10 properly
: anu lie corporate business and TO make
ecnouS. isws rules and regulations, as may
suea syd necessary or desirable for the man
W ~, NJ this corporation, and generaly
49, every other act, matter or thing nee
% w for the complete and proper carry
;,s on Of said business.
spTICLE 1.-THE domicile OF this cor
na,;on shall be in the City OF New Or
PoIsp sTish of Orleans, State of Louis
ieans' ,hsre all citation and other legal pro-
hns Kali be served upon the President, or
e re absence OF the President upon the
z ~ PRESIDENT. or, in the absence OF both,
W. the Secretary Treasurer.
ARrICLE III.-The objects and purposes
= sh;s corporation shall be to conduct a
S,;nsss Of buying and selling scrap iron,
~ new and second hand machinery, and
ils.si rails, and any other articles OF com
go, al wholesale and retail, and to do
~ and all acts necessary or incidental TO
- carving on and conducting OF the
sso,,said objects and purposes; and to en-
ssss In the business OF buying and selling
80 and other metals and machinery; 10
engage in the reducing, refining and melting
y srrh materials, and to do any and all
ss;rgs necessary or incident to the above.
lPTICIE IV-The capital stock of this
.,,noration shall be Ten Thousand Dollars
gidmOO, divided into 100 shares OF the
ssr value of $1,000 per share, and this cor
eorziion shall become going concern when
Ei,y (50l shares Of its said capital stock
All have been subscribed and paid for in
cash, or its equivalent.
yo stoekholder shall ever be held liable
az he faults contracts or debts of this cor.
.cr,tiou on the shares Of stock subscribed
ior Nv him, nor shall any mere intormallty
d examination have the effect Of rendering
this charter null, or of exposing any share
bolder to any liability whatsoever.
ARTICLE V-All the corporate powers OF
mi, corporation shall be vested in and ex-
,rcised by a Board of Directors to be com
oosed Of three stockholders, a majority OF
whom shall constitute a quorum. The of
hcers Of this corporation shall consist OF a
President, Vice-President and Secretary,
Treasurer, all of whom shall be members Of
he board Of directors, towit:
Abraham Sherman, President, 1885 Baronnt
Street
Maurice Sherman, President, 1885 Ba
roune Street.
Jsedb Sherman, Secretary Treasurer, 1875!
Baronne Street.
AID these directors and officers shall hold
heir said office until the 10th day Of June
49, or until their successors shall have
been duly elected and qualified.
Thereafter the directors shall be elected
sunuslly on the 10th day of June of eact
year, beginning with the year 1919, Al
elections OF directors shall be by ballot anC
each stockholder shall be entitled to one vott
iof each share of stock standing in his nam'
On the books of the corporation, this vote
% be cast in person or by proxy, and /
shall require a majority of the stock presen
o. represented to elect.
ARTICLE VI-The board of director
shall meet and adopt bylaws, rules ant
regulations governing the management of tn,
corporation as the directors may see fit.
ARTICLE VII.-The several stakeholder
,pee not to sell, transfer, donate or other
wise dispose Of any of the share, or shares
q stock held by them without offering tn
said stock to the corporation, which shall
hve the right within ten days from dat
u receipt Of said notice by the President
purchase the said stock offered for sale
N whole or in part, at price to be agree
pcn between the said corporation and tn
nid shareholder, provided that the SAT-
rice shall not exceed the maximum valu
II said stock so offered for sale, which valu
hall be determined to be the value Of tn
nd stock as it appears on the books of tn
nd evaporation as of that date. After sucl
me should the corporation decline to pur
chase said stocks, the shareholder shall hav
he right of option to offer said stock TO
ale to any other person or persons, firms o
uporations
ARTICLE VIII-This charter may b
nsdified, or altered, the capital stock there
increased or decreased, or the corporation
nay be dissolved with the assent of two
erds Of the capital stock present or rep
resented al any meeting of the stakeholder
ned TOR that purpose, after prior notice i
rntng 10 each stakeholder mailed to hir
his last known post office address, o
accordance with the terms of Act 20
IpTTrTr w A. ... r a.;
uaffer, or at the earlier dissolution of thi
pPoration for any cause, its affairs shall
hquidated by one or more liquidators
elected by the stockholders, all of who1
NAL hold stock in said company and tn
az commissioners are hereby vested wit
w power and authority to liquidate the al
-sof said company in accordance with tn
ems Of Section q Of Act of 1914.
NiiCLE X-The appearers hereby d,
reIe mat they have subscribed to the 70
LING number Of shares In the proportio
opposite their names. and their signs
hereto shall constitute their origins
.sfipion to the capital stock Of said col
a1mes r'Op'''0A SCI 0PPosi'e '"S
aprsnam Sherman, Is shares.
{seoo Sherman, IS shares.
rsunce Sherman, shares
c.nus done and Passed in my office in III
New Orleans on the 9Th day of jun
- The presence of Herbert W. Kaist
- .rguerite G. Stein, competent witness
- nsve signed these presents, togeth,
~ sie appearers and me, Notary, aft,
reading Of the whole
aSSs ss: II. w. Kaiser. NJ. G. Stein.
unerman, - shares; NJ Sherman, b
MEYER s. DREIFUS,
n. Notary Public.
Nc undersigned Recorder of Mortgage
la';.;a Tor the Parish of orleans, State
- ta., 90 hereby certify that the abo,
kemsa Sung Act of Incorporation Of Il
lyan bros. Co. Inc WAS This A