The herald., 1918-04-11

PROGRESS GROCERY COMPANY, INC.
United States of America, State of Louisi-
ana, City of New Orleans.
Be it known. that on this second day OF
the month of March in the year one thou
sand, nine hundred and eighteen Ools) be-
fore me, Theodore Cotonio. a Notary Public,
duly commissioned and sworn for the Parish
Orleans and City of New Orleans, therein
residing, personally appeared. the persons
whose names are hereunto subscribed, who
declared that availing themselves of the
provisions of the laws relative to the or
ganization OF corporations, and more partic-
ularly Act No. 267 of the General Assembly
of the State of Louisiana, approved July 9.
1914 they have covenanted and agreed and
do by these presents covenant and agree.
bind, form and constitute themselves as we'll
as such persons who may hereafter join or
become associated with them, into a cor
poration 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 Progress Grocery Com
pany, Inc. and under that name shall have
and enjoy all the rights and privileges and
advantages granted by law to corporations
it shall exist for the period of (9o) ninety
nine years from this day; it shall have the
power to contract, sue and b. sued in its
corporate name; to make and use a corporate
seal and the same to break or alter at
pleasure; to hold, receive, own, purchase,
convey, mortgage, hypothecate or pledge
property, both real and personal; to issue
bonds, notes and other obligations or nego.
table instruments; to have and employ such
managers, directors, officers, agents and other
employees as the interest and convenience
of said corporation may require or demand; ;
to make and establish, alter or amend such
bylaws, rules and regulations for the cor
porate management and control of the affairs
of the corporation as may be deemed neces-
sary and expedient.
Article 1.-THE domicile of said CORPORA
a. Ill
New Orleans, State of Louisiana, and all cita-
tons and other legal process shall be served
on the President of the corporation, or in
the event of his absence or inability to act,
upon the Secret1ry-Treasurer.
Article III.-The objects and purposes for
which this corporation is formed. and the
nature of the business TO be carried on by
it. are hereby declared to be:
The conduct of a general grocery and mer-
chandise business in all its branches and
to buy, sell and generally deal in all gro
ceries, supplies, feed. grain, notions and
general merchandise; to buy and sell fruits,
vegetables, truck and garden products: poul.
try, farm and country produce; to grow and
and operate packing and canning plants and
all accessories necessary thereto for the man.
ufacture, packing or canning of fruits, veg
etables and any and all products and COM
modities of the ground and sea; to import
any and all products of foreign countries
or to sell forein products on commission;
to conduct a general bakery and confeec-
tionery business: to conduct a saloon or
bar-room in connection Herewith. dealing
in wines, liquors and cigars at the option
Of the board of directors. s
The corporation is primarily formed and
organized for the purpose of taking over
the general grocery business of the Progress
Grocery Co., presently located at 1901 De-
Grocery Co, being a partnership composed of
Gaetano DeMajo and Salvador Lupo; with
all and singular, the merchandise, fixtures.
live stock, equipment and
appurtenances, all as going concern, all
of which property shall be taken in payment
of stock subscribed for and appraised by the
Board of Directors at the sum of Eleven
Thousand and Six Hundred Dollars (Sl1,-
10000 as set forth is detail as follows, to-
wit:
Horse and Wagon ................. s 5000
Store Fixtures --..--...--.-----..---..-- 1,21200
Merchandise: Stock in trade, gro
Total sffi Ss,,. the ,nm of 81. NJ 6 fsS ~
Article IV.-The capitai stock Of this cor
poration is hereby fixed at the sum of IF.
teen thousand dollars. (sls.oOOoo), divided
into $50 shares of the par value of One
Hundred dollars each. All shares of stock
shall be fully paid and non-assessable when
issued, and shall be issued only for labor
done, or property actually received. or money
to be paid at such times and in such amountsf
as may be determined by the board Of direc-
tors. The stock OF this corporation shall be
transferred in writing only and no transfer
of stock shall be binding upon the corpo-
ration unless made upon its books and all
certificates of stock shall be signed by such
officers as may be designated by the board Of
directors. This corporation shall have the
right in increase its capital stock to the
further sum of Fifty Thousand, Dollars, to
be divided into shares Of One Hundred dol
lars each, provided such increase in the
capital stock shall have been authorized by
two-thirds of the stockholders, at a meeting
to be held for that purpose after being duly
notined in writing. No stock, however. shall
be transferred on the books, nor shall any
stockholder have the right to sell his stock
until and unless he has FIRST offered the
stock for sale to Company at the book value
thereof. and the company shall have the
right for ten days within which to decide
whether il shall purchase the stock or not
In the event Of an increase of the capital
stock the additional shares shall be frs.
offered to the stockholders and If they should
decide to purchase the stock then each of
the stockholders at the time shall have the
right to participate in the purchase to the
extent Of the proportion of his holdings in
the Company.
Article VAN the corporate powers of
this corporation shall be vested in and the
and control of its affairs shall
be exercised by board If directors COM
posed of three stockholders. The FIRST