The herald., 1918-08-01
CHARTERS.


ages of all kinds, and all other timber
products, for either domestic sale or ~
port ana to that end to purchase lraS,
or other" i>e acquire and operate veneer
mus box factories and SIW-millS i'm "a,
stat" of Louisiana and elsewhere: 10 con
.>tFuct, acquire ana use RAILWAYS tram.
ways aud other roads or rights Of WAY
Ilor the transportation of veneer bo\,~
i>h"ohN, lumber. timber, logs and other
products; to buy, lease or otherwise g,-
Iuulre timber lands and timber rights ON
land, aud 10 acquire, lease, hold and buy
! lands for IL" us" of saw mills and fl,.
tories and timber yards. in III" state of
Louisiana, or elsewhere: to acquire bv
purchase, lease or otherwise. patients, and
inventions that might be- used for ia" pur-
poses OF IN" business of this corporation
Iamd generally to do ana perform any and
Iali things necessary or convenient to car
Iry OH said objects and purposes.
Article " The capital stock Of this
corporation iS hereby fixed gr th, ...,rr of
ten thousand ,$lO.OOOOOD dollars. divided
into on" hundred tlOOI share, of tho mar
value of one hundred tSlOOOOl dollars each
provided that the amount To which the
icapltal stock of this corporation may be-
increased shall be twenty five thousand
lN2'OOoOOl dollars. Fifty tJuJ shares. or
IhNe thousand tSJOuOOOJ dollars of the cap
Il.i STOCK OF inns corporation must be- sub
lS'rihcd before the hliug of the articles of
incorporation. Tn" subscribed capital
stock of this corporation shall be- Daygble
IN cash, property Ircal or PERSONAL. or
formed.
No stakeholder shall ever br held Ii,II,
Tor responsible for the faults contracts or
debts OF this corporation in any further
sum than the unpaid balance due the cor
pOratlOn on the shares of stock SuE,rrib-
led by him. nor shall any mere informaIitv
IN organization hav" the effect of render
ing TINS charter null. or OF exposing any
shareholder to any liability Whatsoever
This corporation shall not engage in
IL e..
thousand tSJ.OO0.OUl dollars OF the capital
Stock shall have been issued and paid in
IN cash or for property. or for cash ana
property, and if any stock of this cor
pOration is exchanged. either in whole or
IN part for property or good will i'm that
event the provisions of Section of Act
2b' OF 18Th, shall b" complied with strictly.
Article N.-All the corporate powers of
this corporation shall be- vested in and
exercised by Il Board of Directors to bc
composed OF three stockholders. each of
whom shall own in his own right during
his term CT Office. at least one full pnid
share of stock, two of whom shall con
Stltute quorum for the transaction of
business.
Article NI-Thc officers of this CORPORA
ton shall consist Of a President. Vice
President. Treasurer and Il Secretary all
OF whom shall be members of the Board
of Directors.
The following named shall constitute the
hrSt Board of Directors, to-wit:
Nelson Jensen, 1927 Napoleon Ave. New
Orleans; La; David F. Dixon, 1926 Peters
Ave, New Orleans, La, William r. NJ
Whitney, Baton Rouge. La all residents
or the State of Louisiana, as above stated
with Nelson Jensen, president, David j.
nlN0n vice president and treasurer and
Nllllam X. NJ. Whitney, secretary, and
these directors shall hold office until the
hrSt Monday of July 1919. or until their
successors are duly elected and qualified
Thereafter the directors shall be elected
annually on the first Monday of July of
each year; 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 on the books
OF this corporation, this vote to be cast in
person or by written proxy, and it shall
require twO-thirds of the stock present or
represented to elect.
Failure to hold an election for directors
on the first Monday of July 1919 or an
nually thereafter, shall not work forfeit
ure OF this charter, but the old Board of
Directors shall remain in office until their
successors are duly elected and qualified.
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
at 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 re-
quired to call such special meetings at the
request of a member of the Board of Di-
rectorS. Three days written notice of such
special meetings shall be given to the di-
rectorS, unless waiver of such notice is
signed by the directors. ANY vacancy oc-
curing in the Board of Directors either
from death, resignation or inability to
serve, shall be filled by the remaining
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 NAV be altered
amended changed IA nN nf
the case may require.
Article NII.-The stock of this CORPORA
ton may be transferred, provided such
transfer shall he recorded on the books
of this corporation before ii shall be re-
quired to recognize the transfer or the
new holder of holder of said stock The
total amount of the subscribed stock, as
herein set forth, is the sum of five thou
sand (S5,OOO.OO) dollars, or fifty (50) shares
which are hereby authorized to be issued
fully paid for and worcestershire, for cash.
In the event that any stakeholder de-
sires to sell his stock, or any part there
of, he shall first offer same to the remain
ing stockholders, in proportion to their
respective holdings, at its book value. This
dressed to each stakeholder at his last
known address. At the expiration of
which time, the said stakeholder desiring
to sell his stock, shall be at liberty to do
so at whatever price and to whom he shall
please.
Article vIII.-This charter may be mod
flied or altered, the capital stock thereof
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 stOckhOld- |
er held for that purpose after prior no
tice in writing to each stakeholder mail |
ed to him at his last known post office |
address, all in accordance with the terms
of Act 267 of 1914.
Article IX.-At the expiration of this
charter or the earlier dissolution of this
corporation for any cause. its affairs shall
be liquidated by one or more liquidators
to be elected by the stockholders, all of
whom shall hold stock in this corporation
and said lquidatOrs are hereby vested
with full power and authority to liquidate
the affairs of said corporation.
Article X.-The appearers hereby declare
that they have subscribed to the follow
ing number of shares of the capital stock
of this corporation, to-wit:
Nelson Jansen, 1927 Napoleon Ave, sew
enteen 40 shares; David +. Dixon, 1926
Peters Ave, seventeen 40 shares; VIM.
X. W. Whitney, Baton Rouge, La, herein
represented by Sig. s. Levy of New Or
leans, La, by power of attorney hereto
annexed, sixteen (16) shares, all of which
shall be paid in cash.
Thus done and passed at my office in
this city of New Orleans, Louisiana on
the day, month and year hereinabove first
written, in the presence of Francis l..
Burns and Arthur Ryan, competent wit,
nesses, who hereuntO sign their names, to-
gether with the said appearers and me,
Notary, and the said appearers have also
set opposite their names the number of
shares subscribed by them, all after due
reading of the whole.
(Original signed):
n. Jensen, IL shares; ID. +. Dixon IL
shares; w. X. NJ. Whitney, by S. s. Levy,