The herald. [volume] (New Orleans, La.) 1905-1953, 1918-07-11
CHARTERS
CHARTER.
OF SHERMAN BROS. & CO., INC.

Orleans:
Be il known and remembered that on thi
9Th day of the month Of June, in the year o
our Lord 1918, and OF the United states 9
America the One Hundred ana forty second
Before me, Meyer Samuel Drclius, No
tary Public, duly sworn, comm ssloned an
qualified, IN and Tor the Parish and Stat
aforesaid; and in the presence Of the wat
uesses hereinafter named and undersigned
Personally came and appeared the per
sons whose names hereto subscribed 4
such, Of the full age Of majority, residing Il
the Parish Of Orleans, who declared TO me
that avaiing themselves OF the laws OF tai
State relative TO the organization Of corpo
rations, and more particularly OF Act loI o
the Acts of the General Assembly OF tn
State Of Louisiana Tor the year l9l4, pas
covenanted and agreed, and by these pres
ents do covenant and agree tor themselves
and their successors and assigns TO torn
themselves into a corporation and body poll
tic for the objects and purposes and undei
the stipulations hereinafter set forth, 10
wit:
ARTICLE 1.-The name and title OF this
corporation shall be Sherman Bros. x Co.,
Inc" and under such title II shall have
and enjoy succession and existence igr
period Of ninety nine years from date here
OF; it shall have power and authority TO
contract, sue and be sued, make and use
corporate seal, the same to break or alter
at pleasure, TO hold, sell, lease, mortgage,
hyp0thecate or pledge property real, personal
or mixed, necessary, incidental or proper for
the carrying OF its business, and TO
name, elect and appoint managers, directors
and clerks other employees 10 properly
conduct its corporate business and to make
such by laws, rules and regulations, as may
be found necessary or desirable for the man
agement OF this corporation, and generally
10 do every other act, matter or hing nee
essary for the complete and proper carry
ing on of said business.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City OF New Or
leans Parish Of Orleans, State OF Louis
lana, where all citation and other legal pro-
cess shall be served upon the President, OF
in the absence Of the President upon the
President, or, in the absence OF both,
upon the Secretary Treasurer.
ARTICLE lII-The objects and purposes
of this corporation shall be to conduct
business of buying and selling scrap iron,
Junk new and second hand machinery, and
steel rails and any other articles Of COM
merce, at wholesale and retail, and TO do
any and all acts necessary or incidental to
the carrying and conducting OF the
aforesaid objects and purposes; and to en-
gage in the business of buying and selling
steel and other metals and machinery; 10
engage in the reducing, refining and melting
Of such materials, and TO do any and all
things necessary or incident to the above.
ARTICLE lN.-The capital stock OF this
corporation shall be Ten Thousand Dollars
100000, divided into 100 shares Of the
poration shall become a going concern when
fifty (5O) shares of its said capital stock
shall have been subscribed and paid for in
cash, or its equivalent.
No stockholder shall ever be held liable
for the faults. contracts or debts of this cor
poration on the shares of stock subscribed
for by him, nor shall any mere informallty
in organization have the effect OF rendering
this charter null, OF exposing any share
holder to any liability whatsoever.
L al
this corporation shall be vested in and ex-
ercised by Board of Directors TO be COM
posed of three stockholders, majority OF
whom shall constitute quorum. The OF
ficers of this corporation shall consist OF a
President Vice President and Secretary
Treasurer, all of whom shall be members OF
the board of directors, to-wit:
Abraham Sherman, President, 1885 Baronne
Street.
Maurice Sherman, Vice-President 1885 Ba-
rome Street. -
Jacob Sherman, Secretary Treasurer 1885
Baronne Street. :,
their said office until the 10th day OF June
1919, or until their successors shall nave
been duly elected and qualified
Thereafter the directors shall be elected
annually on the 10th day of June OF each
year, beginning with the year 1919. All
elections of directors shall be by ballot and
each stakeholder shall be entitled to one vote
for each share Of stock standing in his name
90 be cast in person or by proxy ana II
shall require a majority of the stock present
or represented to elect
ARTICLE VI.-The board OF directors
shall meet and adopt bylaws, rules ana
regulations governing the management OF the
corporation as the directors may see MT
ARTICLE VII-The several stockholders
agree not to sell, transfer, donate or other'
wise dispose of any of the share, or shares'
of stock held by them without offering the
said stock TO the corporation, which shali
have the right within ten days from oa,e
of receipt Of said notice by the PRESIDENT
20 purchase the said stock offered tor saie;
in whole or in part, at price to DC agreed
tIpor between the said corporation ana tne
said shareholder, provided that the salo
price shall not exceed the maximum value
OF said stock so offered for sale, which value
shall be determined TO be the value OF the
said stock as it appears on the books OF the
said corporation as OF that date. AFTER such
time should the corporation decline 70 pur-
chase said stocks, the shareholder shall have
the right of option to offer said stock Tor
sale to any other person or persons, firms or
ARTICLE vIII.-This charter may. be
modified, or altered, the capital stock there
Of increased or decreased, or the corporation
may be dissolved with the assent OF TWO
thirds Of the capital stock present or rep
resented at any meeting OF the STOCKHOLDERS
held for that purpose, alter prior hou'e hin
AT his last known post office ADDRESS, OF
in accordance with the terms of Act 2O'
ARTiCLE IX.-At the expiration of this
charter or at the earlier dissolution OF TINS
CORPORATION for any cause, its affairs shall
be louidated by one or more liquidators 10
be elected BY the stockholders, all OF whom
shall hold stock in said company and me
said commissioners are hereby vested with
full power and authority to liquidate me al
fairs Of said company in accordance with the
terms Of Section q of Act OF 1914. 1.
ARTICLE X.-The appearers hereby de-
clare that they have subscribed to the tol-
lowing number of shares In the proportion
set opposite their names, and their sigma,
lures hereto shall constitute their original
subscription TO the capital stock OF SAID cor
ooration on the proportion set opposite their
names.
Abraham Sherman. 10 shares.
Jacob Sherman. IS shares
Maurice Sherman, 2 shares
Thus done and Passed in my office in the |
CITY of New Orleans on the 9Th day Of june.
iqis in the presence of Herbert w Kaiser |
and Marguerite G. Stein, competent witnesses
who have signed these presents, together |
with said appearers and me, Notary, after
due reading of the whole
Witnesses: H. w. Kaiser, NJ. 6. Stein.
A. sherman, Is shares; Nj. Sherman, by
A. Sherman, shares; ]. sherman, 50 shares.
MEYER S. DREIFUS,
Notary Public.
/. the undersigned Recorder of Mortgages,
In and for the Parish Of Orleans, State OF
louisiana do hereby certify that the above
and foregoing Act of Incorporation OF the
Sherman Bros. & Co., Inc, was this day
duly registered in my office in Book l(-Z,
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