The herald., 1918-05-09
CHARTER

corporation shall become Il going concern
and shall be authorized to bust
ness as soon as twelve thousand. five hun
dred (Sl2.jOO.O0) dollars of its capital
stock shall have been paid for. either in
cash or for labor done. or services per
formed for said corporation. or for prop
ertI or rights actually transferred TO il.
Article N.-The capital stock of this cor
pOTatiOn may he increased 10 the sum of
one hundred thousand (S1OO.OOO.OOD dol
lars, - a vote of twO-thirdS of all of the
stock, AT Il meeting called for that pur-
pose.
Article VI.-TranSfer of stock shall he
made only on the books of the corpora
! ton. subject to such regulations and for
maliticS as the Board of Directors may
prescribe.
Article VII.-An the corporate powers
of this corporation shall he vested in and
exercised by a, Board of Directors. com
posed of i've 90 stockholders. three of
whom shall constitute Il quorum for the
transaction of business.
DR.. J. W. Lamon. of McElroy. La. j.
Paul Bourgeois, of Gonzales. La. William
l.. Haynes of McElroy. La. Mrs. WeS>ey
+. BreauN, of New Orleans. La, and Har-
~ Henderson. of New Orleans, La, shall
OmpOSe the first board of directors of
this corporation. This first board of di-
~rectOrS shall serve until the second Mon
day in May. 1919. after which the Direc-
tors shall be elected annually by the
stockholders at Il meeting to be held on
the said second Monday in MAY of each
year. Said meeting of stockholders to be
preceded by fifteen days notice i'll writing
sent TO each of said stockholders at his
or her last known place of residence. Each
stakeholder shall be entitled in person or
proxy to one vote for every share owned
by him or her; all elections shall be held
under such rules and regulations AS may
be determined by the Board of Directors.
The Directors, when elected. shall con
time in office for one year and until their
successors shall have been duly elected.
and shall. have been qualified. No fail
nrp 70 plppt shall nnnrgfp tho fnrfnitnra nf
this charter or any right under the same.
Any vacancy occurring on said Board
shall he filled by the remaining directors
for the uneXpired term.
DIR. J. W. LamQn shall he President. J.
Paul Bourgeois SHALL be First Vice-Presi-
dent. William l.. Haynes, shall be See
ond Nice-PreSident. Harry Henderson
shall be Secretary. and Mrs. Wessey +.
I:reauN shall he Treasurer of the first
Board of Directors TO serve until the see
ond Monday I'm May, 1919.
Article NlII.-The funds of this cOrpor-
alton shall be deposited from time to time
in a bank or banks to he selected by the
Board of Directors. All checks, notes or
instruments drawn or executed or issued
tcrsigned by at least two officers of the
corporation. No official shall thus sign
or endorse the name of the corporation
save strictly in its concerns.
Article IN.-ThiS act of Incorporation
may be changed. modified or amended or
the capital stock increased or decreased
by and with the consent Of twO-thirdS of
all the stock.
\ change in the objects and purposes
may be made only by u vote of all the
stock therefor issued and an increase of
the capital stock in excess of the amount
originally named herein as the amount to
which the capital stock may be increased,
may be made by three-fOurths of al the
outstanding stock.
Notice of all meetings referred to in
this Article shall be given i'm the same
manner as is provided for the giving of
the notices of election. In case of diSSO-
luton or termination of this charter. eth
er by limitation or otherwise. the AFFAIRS
of this corporation shall be liquidated by
three liquidatOrS. elected by the stock
hOldeGs from among their own number.
each 1iquidatOr shall have full authority
to settle and wind up the business and
affairs of this corporation. The terms
and conditions and the compensation for
such services shall be fixed at the time of
election. In case of the death or other
disability of any of the liquidatOrS before
the final liquidation of the affairs of the
corporation. the remaining liquidatOr or
liquidatOrs shall fill said vacancy or va
cancieS.
Article Mo stakeholder of this cor
pOratiOn shall be held liable or response
BILE for the contracts, defaults or debts
of this corporation, nor shall any mere in
fOrmality of this organization have the
effect of rendering this charter null. or of
exposing any stockholders to any liabil-
ity beyond the unpaid balance due on the
stock held by him.
Article Kiln order that this charter
may also serve as the original subscrip-
ton list. the subscribers hereto have writ
ten opposite their names the number of
shares subscribed for by them.
The subscribers to this corporation are:
j. W. LamOn, NJ. D., McElrOy. La, 30
shares: W. f. BreauX, SIS Carondelet St,
New Orleans, La, 80 shares: j. =. BOur-
La, 30 shares; Harry Henderson, s1s Car
Ondelet ST., New Orleans, La. 80 shares;
William L.. Haynes, McElroy, La, 30
shares.
payable in the manner, mode and species
as is set forth in the list hereto annexed
and which forms a part of this charter.
Thus done and passed at New Orleans,
La. this second day of May. 1916. in the
presence of Charles A. Duchamp and Vie
tor LOisel. competent witnesses. residents
OF this Parish, who have signed these
presents, together with said appearers and
me, Notary, after a reading of the whole.
Original signed:
J. ". LamOn, NJ. D.. McElrOy, La: W.
f.. Breaux, SIS CarOndelet St, New Or
leans. La; J. p. Bourgeois. Gonzales, La,
(p. p. Harry Henderson, :sHarry Hender-
son. SIS CarOndelet st. New Orleans, La.
William L.. Haynes, McElrOy. La.
Witnesses: Chas. A. Duchamp. Victor
Loisel.
EDOUARD F. HENRIQUES. Not. Pub.
/. the undersigned, Recorder of Mort
cages, in and for the Parish of Orleans,
State of Louisiana, do hereby certify that
the above and foregoing Act of IncorpOr-
alton of the Palm Fibre Manufacturing
Company. Incorporated. was this day daily
recorded in my office, in book 1919, folio
New Orleans. May Bird. 1918.
(Signed) EMILE j. LEONARD, ID. r..
/ hereby certify that the above and
foregoing is a true and correct copy of
the original act on file in my NOtarial
Office.
EDOUARD F. HENRIQUES, Not. Pub.
May 9-16-23-30-Jun 6-13