The herald., 1918-06-27
CHARTER OF
THE DELTA SHIPBUILDING COMPANY
INCORPORATED.
United States of America State of Louis
lana. Parish Of Orleans, City of New
OrlpauS.

INCORPOR ATED.
United States of America. State of Louis |
lana. Parish Of Orleans City of New I
OrleauS.
BE it known, that on this the eighth /
day of the month of June i'm thu, year of 7
our Lord one thousand nine hundred and ,
eighteen, and of the independence of the /
United States of America, the one hundred /
and forty second. before me-. Joseph Sinai |
Il notary public. duly commissioned and /
qualified, in and for the Parish of Or |
leans, therein residing. personally came |
and appeared:
The persons whose names are hereunto
subscribed, who declared that availing
themselves of the provisions Of the laws
of this State relative to the organization
OF corporations, and more particularly of
Act 261 of the General Assembly of this
State approved July 9th. 1914. they have
cOvenanted and agreed, and do by these
presents, covenant and agree, bind. form
and constitute themselves. as well as such
persons who may hereafter join. or be
come associated with them, into a cOTpOr-
alton and body polite in law, for the
objects and purposes and under the agree
mentS and stipulatiOnS following, to-wit
Article 1.-The name and style of this
corporation shall be the Delta Shipbuild-
| ing Company, Incorporated" and under
| that name IL shall have and enjoy all the
| rights. advantages and privileges granted
by law to corporations; IL shall exist for
| the period of ninety nine years from this
date; it shall have the power to contract,
make and use a corporate seal, and the
same to break or alter mt its pleasure;
| to hold. receive, purchase, convey, mort
| gage hypOthecate or pledge property,
both real and personal; to issue bonds.
notes and other obligations or negotiable
| instruments; to have and employ such
managers, directors, officers. agents and
| other employees as the interest and con-
venience of said corporation may require,
| or demand; to make and establish such
bylaws, rules and regulations for the cor
| M n ono fTnrf ant nd frnl Of M
fairs of the corporation as may be deem
ed necessary, convenient and eXpedient.
Article 1.-THE dOmicile of this corpOr-
alton shall be in the City of New Orleans.
State of Louisiana, and all citations and
other legal process shall be served on the
President, or in his absence, upon the
Secretary.
Article III.-The objects and purposes
and the nature of the business to be car
ricd on by it, are hereby declared to be
as follows, tO-wit:
To build. make. operate. maintain. buy,
sell, deal in and with, own, lease, pledge
and otherwise dispose of ships, vessels
and boats, made of concrete and 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
equipment thereof, and together with en-
gines, boilers, machinery and appurten-
ances of all kinds, tackle, apparel and
furniture.
To construct and maintain for the use
of the company, or for letting out on
hire, craving and other docks, and other
lconveniences for the building, repairing
or docking of ships and other vessels,
and to aid in or contribute to the con-
structiOn of any such works.
| To buy or otherwise acquire ships and
vessels complete or not complete, sound
or out Of repair, for the purpose of nm,
proving, repairing reselling, letting out
to hire, or otherwise make a profit out
of the same.
estate necessary for docks and dock IA
cilities, and to furnish material necessary
in the furtherance of the purposes of the
company; to acquire rights of way, for
the construction of a line of railway; to
survey, construct, build, erect, own, lease,
mortgage, operate and maintain, sell or
otherwise dispose of a line railway for
the purpose of carrying into effect the
above named objects and purposes.
To own, manage and operate stores In
aid of the objects and purposes above
, named.
To subscribe to any association. insti-
tuition. or company calculated to benefit
. the company, or persons employed by the
company. or persons having dealings with
the company.
thing or act necessary, convenient or
proper for the carrying into effect of the
/ above named objects and purposes.
RI Article IV.-The capital stock Of this
| corporation is fixed at the sum of nine
, ty-n nine thousand nine hundred dollars
1890 300. 00). diyidkd into ninety nine hun
dred and ninety share of the par value
Of ten $1,000 dollars each All shares
of stock shall be full paid and assess
r able.
= Said stock shall be paid for in cash. OIL
the same may be issued at not less thar
h par, for labor done or for services rend
e cred to the said corporation. or for prop
y erty or rights actually received by SAID
n corporation.
e This corporation shall have the RICH
e to increase its capital stock up to tn
e further sum Of five million dollars $4,000,
i 0OO.0O), or any part thereof, to be divided
d into shares of ten dollars $1,000 each
provided said increase in the capital stocl
r shall have been authorized by the stock
!. holders at a meeting held pursuant to tn
, provisions of the law.
= This corporation shall have and enjo
i the rights to purchase shares Of stock 4
y other corporations, partnerships or othe
= interests as may be found necessary, ex
pedient or advisable. y
This corporation shall be and becom
- going concern when fifty 900 percent Q
d it's stock shall have been subscribed fo
,e Article YAH the corporate powers q
IS this corporation shall be vested in, an
a exercised by, a Board of Directors CON
e, posed of not less than five and not moi
e than nine stockholders, majority {
st transaction of all business. =
s. The Board of Directors herein name
or shall have the. powef and authority
&c augment its number by any addition u
RS bers.
s. The Directors shall be elected annual
or by ballot, by the stockholders, on u
H. second Monday of June in each year. Tt
N. first election under this charter shall
er held on the second Monday in June, 1872
n Each stakeholder shall be entitled
de person or by proxy, to one vote for ever
tx share Of stock owned by him, and Q
Of elections shall be held under such rul
he and regulations as may be specified
,s the Board Of Directors after fifteen (1
-; days notice of such election shall ha'
u. been sent to each stakeholder at his la
y. known address.
at No failure to elect Directors shall
Il, regarded as a forfeiture of this charter
ca Any vacancy occurring on such Boal
,ai Of Directors shall be filled by the RENAL
Ia, ing Directors for the unexpired term.
nd Said Board of Directors, shall, at ]
ne first meeting after its election, nominal
he out of its own number President,
in vice-President, a Secretary annd Urea
he urer may be combined and held by Oh