The herald. [volume] (New Orleans, La.) 1905-1953, 1918-11-07
CHARTER

Secretary and Treasurer. who need not be
| stockholders, and the latter offices may be
combined by the Board in one person. The
| Board of Directors may establish bylaws.
| rules and regulations for the government of
| the corporation and may also create com
| mittees for the management of the several
| departments of its business, including an
Executive Committee of not less than three
members of the Board. which Committee
shall be empowered to exercise all the func-
tons of the Board of Directors during the
recess of said Board, save those herein re-
served for the full Bard. Vacancies in the
remaining 'wembsys thereof.
ARTICLE YZTheIpower and right to de.
clare dividends is vested exclusively in the
Board of SDirest5fs, WHO are specially au-
thorzed 80 retain the profits and earnings
for the use of Che cprporation in whole or
in part. and for such time as An the judg-
ment of said Board may be necessary by
reason of the FINANCIAL needs and require
ments of the corporation or the emergency
of the time. Such profits and earnings so
withheld by the corporation shall be con-
sdered part of the corporate funds until the
necessity and use of the same shall have
been terminated by the action of the Board
declaring dividends therefrom.
ARTICLE VII-Any monies deposited
with or loaned to the corporation by stock
holders shall earn not exceeding six per
cent. interest per annum, payable on divi-
dend periods; the right is reserved in the
Board of Directors to pay said money at any
time when in its opinion the same is no
longer needed by the corporation.
ARTICLE VIII.-This charter may be
amended, altered or modified, the capital
stock increased or decreased, at a meeting
| of the stockholders duly called for that pur-
| pose, and in such manner may be permit
| ted by the laws of Louisiana now or here
after enacted. This corporation may be dis
| solved in the manner provided by any law
| of Louisiana now or hereafter enacted
! ARTICLE IN.-Upon the termination OF
| the charter or upon the dissolution of the
| corporation, its affairs shall be liquidated
| in the manner provided by any law of Louis
| lana now or hereafter enacted.
ARTICLE Mo stakeholder shall ever be
held liable or responsible for the contracts
| or faults of this corporation in any further
sum than the unpaid balance due to this
corporation on the shares owned by him. nor
shall any mere lntOrmality in organization
have the effect of rendering this charter null,
or of exposing the stockholders to any liza
biity beyond such unpaid balance.
| ARTICLE XI.-Wherever notice is re-
quired by law or by this charter the same
may be given in writing delivered in per
| son or sent to the last known address as
| is prescribed in Article V of this Charter,
| and twenty-tour hours Will be sufficient for
| all purposes except otherwise prescribed by
| law. Any notices required by law or by
| this charter may be waived by unanimous
consent of the Board of Directors or the stock
holders as the case may be, and such waiver
shall be entered the minutes of the meet
ing to which they apply.
Thus done and passed. in my notarial Of
flee, in the City of New Orleans, on the
date aforesaid, in the presence of Louis ].
Gelpi and Anna Morrell. competent witnesses.
who have hereunto signed their names with
the said parties, who have set out their ad-
dresses and the number of shares held by
them, and me, Notary, after reading of the
whole. Original Signed Louis Adrien
Block, l,25O shares, OBI Catina St, New
Orleans, La; Mary l. Smith, 20 shares, 80
Taylor Ave, New Orleans, La. n. J. Bar
rios, per L. A. Block, 50 shares. 6S1 West
End Blvd, New Orleans, La; Hughes Fer
nandez, 2Ol Ringold St, New Orleans, La,
Is shares; Benz. w. Herman, Is shares, 1888
State ST., New Orleans, La. Witnesses:
Louis ]. Gelpi, Anna Morrell. HENRY p.
DART, Jr., Notary Public
Recorded in the office of Recorder of Mort
cages, for the Parish of Orleans, on October
IS. 1918, in Book 1922, Folio -.
l certify that the foregoing is a true and
correct copy of the original file in my
office. HENRY p. DART, Jr., Notary Pub
lie.
Oct. H-2+5l: Nov. 7-l4-2l