The herald. [volume] (New Orleans, La.) 1905-1953, 1918-06-13

associations of the State of Louisiana, or
any other state, district, territory or coun-
try, and while owner Of such stock to ex-
ercise all the rights powers and privileges
of ownership including the right to vote
thereon, to the extent permitted by law.
8. To acquire and hold shares, stocks,
debentures, debenture stocks, bonds, obl-
cations and securities issued or granted
BY any company, constituted in or car
rying on its business in the United states,
or in any colony or dependency or pos
session thereof, or in any foreign country
and acquire, hold, sell, transfer, mort
gage, pledge or otherwise dispose of de-
bentures, debenture stocks, bonds, obliga-
tions and securities issued or granted by
any government municipality, district or
other public body. -,
o. To enter into, extend and receive
any contract or assignment of contracts
for or in connection with any of the above
purposes; and, in matters wherein this
corporation shall be interested or con-
cerned, to guarantee full performance of
contracts and sub-contracts made by other
parties, and to advance money 10 such
parties and to endorse and guarantee pay
ment of promissOry notes and other OBJ
legations made or executed by them.
10. To buy, sell, lease, reclaim, Guilt
| vate, develop and improve lands and real
estate, buildings, improvements and ma
chinery necessary or convenient In connec-
i ton with the business of this corporation.
Article IV.-The capital stock OF this
corporation is hereby fixed at the sum OF
one hundred and fifty thousand (Sl5O,OOO.-
| OOl dollars divided into and represented
by fifteen hundred 15OO) shares or the
par value of one hundred (slOo!Oo) dollars
each, of which shares two have been sub
/ scribed for and paid for in cash, and four
teen hundred and ninety eight have been
subscribed for and paid for in the equiya-
as shown by the detailed statement mark
| ed Schedule A." attached hereto as part
of these Articles of Incorporation, the
property and contracts set forth therein
i 1 nv ha 81
| of Directors as being worth in excess OF
I one hundred and forty nine thousand
eight hundred (s149, sOO,0Ol dollars;
Il All shares of stock shall be fully paid
shall be binding upon the corporation IN
less made upon its books. All certificates
/ of stock shall be signed by the President
or First Vice President and the Secretar!
and sealed with the corporate seal.
| All transfers must be made upon the
books of the corporation by surrender o.
the original certificate properly endorsed
for cancellation by the stockholder II
by his or her duly authorized agent, anC
upon receipt of said certificate, the Sec
| rotary shall be authorized to cancel TIM
| same and issue a new certihcate In het
i thereof.
1 This corporation shall have the right t.
increase its capital stock from time t.
| time the limit of such increase TO De IN
| sum of six hundred thousand (S6OO,OOO.VO
dollars, to De also ulNlueu lHIO ehaicS v
the par value of one hundred ($1OOOO) dol
lars each and provided said increase II
the capital stock or any part Thereon shai
1 in each case have been authorized Dy TN
vote of two-thirds of all its stock, at {
1 meeting duly called and held in accord
ance with the provisions of Article vi
this charter.
Article V.-The corporate powers of Thu
corporation shall be vested in and exer
eised by a Board of Directors composed
of not less than five (5) no: more thar
seven "a stockholders. In the event o
there being five Directors, three 90 o
them shall constitute quorum. In TN
event of more than five Directors four a
shall constitute a quorum: The director
shall be elected annually by ballot by tn
4 stockholders on the third Tuesday in Ma,
of each year, the first election to be hel'
on that date in 1918, and the following
shall compose three of the first Board o
Directors to be elected, to-wit:
r. III. McWilliams, cor. Bodley and Mail
cor. Bodley and Main streets, Memphis
Tenn; X. II. Burchell, 1918 Soniat street
New Orleans, Louisiana.
All elections shall be by ballot, and no
tice of each election shall be given a
provided in Article vi of this charter
Each stakeholder shall be entitled to on
vote for each share of stock standing II
his name on the books of this corporation
the vote to be cast either IN person or b,
proxy, and it shall require majority o
: the stock present or represented to elect
Stockholders shall have the right of Gu
mulative voting in the election of Direc
, tors. The Directors thus elected shall
continue in office for one year and unit
their successors are elected and qualified
} failure to elect Board Of Directors a
: above provided shall not work a forfeitur
Of this charter, but In case Of such fall