The herald., 1918-04-04
CHARTERS.

chinery or other apparatus that is or
might De necessary for working up the
| products of said land, either in the raw
or natural state or changed by manufac-
ture, either produced by this corporation
or other persons or corporations, and to
market the products to the best advant-
age.
4th. To carry on such other business
| or businesses appertaining to the pur-
poses hereinabOye set forth, OF such as
are generally engaged in by corporations
| of this kind.
Article Iv.-The capital stock of this
corporation is hereby fixed at the sum of
| Fifty Thousand (S50,OO0O0) Dollars divid-
ed into Five hundred $500 shares of the
par value of one hundred (SlOOOO) dollars
each, provided that the amount to which
the capital stock of this corporation may
| be Increased shall be one hundred thou
sand ($lo0,OO0.0O) dollars. Two hundred
and seventy l21Ol shares, or twenty seven
thousand (S2l 100000 dollars of the cap
| ital stock of this corporation must be
subscribed before the filing of the articles
of incorporation. The subscribed capital
stock of this corporation shall be payable
| in cash, property (real or personaD, or
| for labor and services rendered and per-
| formed.
No stakeholder shall ever be held liable
! or responsible for the faults, contracts or
| debts of this corporation in any further
sum than the unpaid balance due the cor
poration on the shares of stock subscribed
| by him, nor shall any mere informality in
| organization have the effect of rendering
this charter null, or of exposing any
| shareholder to any liability whatsoever.
This corporation shall not engage in
| business until twenty-seven thousand
| (S27, 0OO.O0) dollars, or two hundred and
seventy (270) shares of the capital stock
| shall have been issued and actually paid
in, either in cash, property or services
| rendered as aforesaid. If any of the stock
of this corporation is exchanged either in
whole or in part for property or good
will, in that event the provisions of Sec.
3 of Act 267 of 1914, shall be compiled
with strictly.
Article VAN the corporate powers of
| this corporation shall be vested in and eX-
ercised by Board of Directors composed
of three stockholders, each of whom shall
| own in his own right, during his term of
office at least fifty (50) full paid shares
stitute a quorum for the transaction of
| business.
The officers of this corporation shall
consist of President, Vice-President, and
| Secretary Treasurer, all of whom shall be
members of the Board of Directors.
| The following named persons shall con-
stitute the first Board of Directors, to-
| wit:
George Mule, No. $500 Esplanade Avenue,
| New Orleans, La; Peter CiacciO, 1923 n.
Rampant St., New Orleans, La; John Lii
uZza, 600 Audubon Bldg, New Orleans,
La, all residents of the City of New Or
| leans, State of Louisiana, with George
| Mule, President, Peter Ciaccio, Vice Pres
ident and John Liuzza, Secretary Treas
!
| hold Office until the first Wednesday of
March, 1919, or until their successors are
| duly elected and qualified.
| Thereafter the directors shall be elected
| annually on the first Wednesday in March
| of each year, beginning with 1919; all cleo
| tions of directors shall be by ballot, and
| each shareholder shall be entitled to one
vote for each share of stock standing in
| his name on the books of the corporation,
! this vote to be cast in person or by writ
| ten proxy, and it shall require twO-thirds
| of the stock present or represented 10
| elect.
Failure to hold an election for Directors
| on the first Wednesday of March, 1919, or
| annually thereafter shall not work a for
TEXTURE of this charter but the old Board
| of Directors shall remain in office until
| their successors are duly elected and quail
| flied.
| Article VI-The Board of Directors
| shall hold regular meetings at such times
| as shall be fixed in the bylaws of this
CORPORATION. These meetings shall be held
mt the domicile of the corporation, but
the President may call special meetings
| of the Board of Directors at such times
as he may deem advisable, and he shall
be required to call such special meetings
at the request of a member of the Board
| of Directors Three days written notice
of such special meeting shall be given tC
the Directors, unless waiver of such no
tice is signed by the Directors. Any va
ors, either from death, resignation, or in
ability to serve, shall be filled by the
Board of Directors at its next regular
meeting after such vacancy shall have oc-
Cured. The first Board of Directors OF
this corporation shall be required to draft
suitable bylaws for the government Of
this corporation, which may be altered