The herald. [volume] (New Orleans, La.) 1905-1953, 1918-07-11
CHARTER OF
THE DOUILUT a. WILLIAMS SHIP
BUILDING COMPANY, INC.


United States of America, Sia,e of Louis
lana, Parish of Orleans, City of New
Orleans.
Be it known, that on this 25th day of
the month of April, in the year of our
Lord. one thousand nine hundred and
eighteen, and of the Independence of the
United States, the one hundred and forty
second, before me, Arthur IL. Leopold, a
Notary Public, duly commissioned and
qualified in and for the City of New Or
leans. Parish of Orleans and therein re-
siding and in the presence of the wit
neSSes named and undersigned, personal
lX came and appeared:
The several persons whose names are
hereuntO subscribed and who seyerally de-
dared that ayailing themselves of the laws
Of the State of Louisiana in such cases
made and provided, they do, by these
presents, form themselves into corpOr-
alton under the following stpulatiOns:
Article 1.-The name of this corporation
shall be the "Doullut x Williams Ship
building Company, Inc" by which, name
said corporation shall have and enjoy cor
pOrate existence and succession for n
term of ninety nine (99) years. from and
after the date hereof, unless sooner dis
solved according to law; and its domiCile
shall be in the City of New Orleans. II
shall have power to contract, sue and be
sued. to make and use a corporate seal,
ind the same to break and alter at pleas
ire; to hold, receive, lease, purchase, sell
and convey, as well as mortgage and ny
pOthecate, under its corporate name; pro-
money and lend money, to give and re-
,eive securities therefor to make and APP
point such managers, directors and Off
GERS as the interest and convenience OF
said corporation mag require, to make
and establish such bylaws, rules and reg
ulations, as may be necessary and proper
and the same to alter and amend ut pleas
urc.
Article I.-An citations and other legal
process shall be served on the President
IF this corporation, and i'm case of his
1bsence. upon the Vice President, or the
Secretary-TreaSurer thereof
Article III.-The objects and purposes
for which this corporation is formed are
declared to be: TO build, make. operate
maintain, buy, sell, deal in and with, own
lease, pledge, and otherwise dispose OF
ships, vessels, and boats 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 equip
ment thereof and together with engines
boilers, machinery and appurtenances OF
Ill kinds, and tackle, apparel and furni-
lure of all kinds. including all other
things that may be incidental or neces-
sary to the primary purposes for which
this corporation is formed.
Article lV.-The capital stock of this
corporation is fixed at one million dollars
Isl 900. 100000 which may be increased OF
reduced as permitted by law. That the
said capital stock is to be divided into
ten thousand 100000 shares of one hun
ired dollars (Sl00O0) each, of which eight
thousand $4,000 shares are to be pre-
ferred stock, and two thousand (2OO0)
shares common stock, which may be is
sued from time to time by the Board OF
Directors and as permitted by law, and
he holders of said preferred stock shall
De entitled to receive from the surplus OF
net profits of the corporation a yearly
dividend of ten per cent payable annual
~, before any dividends shall be paid
on the common stock. Said dividends on
hA nrafArrnH tnaE Of aapt chol
De cumulative. The balance of the net
profits of the company declarable as divi-
lends shall be distributed among the
holders of the common stock. The par
value of the preferred stock, together with
all unpaid dividends accrued thereon shall
in the event of dissolution and division
Of the assets be paid in full before any
sum whatever shall be paid in liquidation
thereafter, the common stock shall be en-
titled to the entire assets remaining. The
holders of the preferred stock shall have
no voting powers whatsoever, nor shall
they be entitled to notice of any meeting
of stockholders of the company. Said
preferred stock shall be subject to re.
iemption out of net profits or earned sur
plus at one hundred and five dollars
tS105O0) per share, and dividends that
may have accrued thereon at such time oil
time and in such manner as the Board OF
Directors may determine.
Subscriptions to said capital stock may
good will, and as otherwise required by
Jaw.
Article VAN the corporate powers o.
his corporation shall be vested in a board
Of directors, to be composed of five Of
the common stockholders who shall b,
elected by the common stockholders OF
he first Monday of May of each year, be
ginning on the first Monday OF May. 1918
The present board of directors shall hold
office until the first Monday of May, 1919
and until their successors shall have beeI
elected and qualified. The directors shall
elect a President. and a vice-President
and Secretary Treasurer. In case o.
any vacancy occurring on the board from
death. resignation or otherwise, the re
naming members shall fill the vacancy
until the next election. Three member
Of the board Of directors shall constitut,
l quorum.
The following named persons, to-wit
Milton p. Doullut, 400 Egania St., New
Orleans, La; w. Horace Williams, 1871
Coliseum ST., New Orleans, La; Pau
| Doullut, 500 Egania St., New Orleans, La
Arthur T. Gomila.. 2435 Fern St., New Or
| leans, La; Louis H. Guerin, Oaklawn
La, shall be and are hereby constitute,
as the first board of directors, with sal,
Milton P. Doullut, as President, Pau
| 0oullut, yice-President and w. Horac
Williams. Secretary Treasurer.
Article VII.-An meetings of the stock