The herald., 1918-07-18
CHARTER OF
THE DELTA SHIPBUILDING COMPANY
INCORPDR ATCD.

THE DELTA sHIPBUILDING COMPANY
INCORPORATED.
United States of America, State of Louis
lana. Parish Of Orleans, City Of New
Orleans.
Be it known. that on this the eighth
day Of the month of June in the year of
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
a 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 bereunto
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 COrpOr-
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 it shall have and enjoy all the
rights, advantages and privileges granted
by law to corporations; it shall exist for
the period of ninety nine years from this
date; it shall have the power TO contract,
sue and be sued in its corporate name: TO
make and use a corporate SEAL and the
same to break or alter at 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
porate management and control of the af-
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
for which this corporation is organized.
and the nature of the business to be car
ried on by ii, are hereby declared to be
as follows, to-wit:
To build. make, operate. maintain. BUY,
sell, deal in and with, own. lease, pledge
ana 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
conveniences 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 i'm
proving, repairing, reselling letting out
to hire, or otherwise make a profit out
of the same.
To buy, lease or otherwise acquire real
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 line of railway; to
survey, construct, build, erect, own, lease.
mortgage, operate and maintain. sell or
otherwise dispose of line or 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.
And generally to do and perform any
thing or act necessary, convenient or
proper for the carrying into effect of the
above named objects and purposes.
Article IV.-The capital stock of this
corporation is fixed at the sum of nine
ty-nine thousand nine hundred dollars
$500 ,90000), divided into ninety-nine hun
dred and ninety share of the par value
of ten $4,000 dollars each. All shares
OF stock shall be full paid and nOn-assess-
able.
Said stock shall be paid for in cash. or
the same may be issued at not less than
par; for labor done or for services rend-
cred to the said corporation, or for prop
erty or rights actually received by said
corporation.
This corporation shall have the right
to increase its capital stock up to the
further sum of five million dollars $1,000
OOO.OO), or any part thereof, to be divided
into shares of ten dollars $4,000 each,
provided said increase in the capital stock
shall have been authorized by the stock
holders at a meeting held pursuant to the
provisions of the law.
This corporation shall have and enjoy
the rights to purchase shares of stock in
other corporations, partnerships or other
interests as may be found necessary, ex
pedient or advisable.
This corporation shall be and become
going concern when fifty (50) percent OF
its stock shall have been subscribed for.
Article VAN the corporate powers OF
this corporation shall be vested in, and
exercised by, Board of Directors COM
posed of not less than five and not more
than nine stockholders, a majority Of
whom shall constitute a quorum for the
transaction of all business.
Iue DOdFu OF directors nereln named
shall have the power and authority to
augment its number by any addition up
to the maximum number of nine mem
bers.
The Directors shall be elected annually
by ballot, by the stockholders on the
second Monday of June in each year. The
hrst election under this charter shall be
held on the second Monday in June 1920.
Each stakeholder shall be entitled in
person or by proxy. to one vote for every
share of stock owned by him, and all
elections shall be held under such rules
and regulations as may be specified by
the Board of Directors after fifteen (1J)
days notice of such election shall have
been sent to each stakeholder at his last
known address.
No failure to elect Directors shall be
regarded, as forfeiture of this charter.
Any vacancy occurring on such Board
OF Directors shall be filled by the remain
ing Directors for the unexpired term.
Said Board of Directors, SHALL at its
first meeting after its election, nominate,
out OF Its own number, a President,