The herald. [volume] (New Orleans, La.) 1905-1953, 1918-07-25
CHARTERS.

State of Louisiana and elsewhere: to con
lNtrurt, acGuir" ami use railways. tram
My ana other roads or rights Of WAY
nor the transportation Of veneer. boxes
|shookS, lumber, timber. logs and other
products, to buy. lease or otherwise, no
.gulre timber lands and timber rights on
ldnd, aud to acquire. lease, hold and buy
lands for the use of SAW mills and fac.
tories and timber yards. in IA" state of
Louisiana, or elsewhere. to acquire hy
purchase, lease or otherwise. patents and
inventions that might bc used for the pur.
poses Of the business of this CORPORATION
Iaud generally to do and perform any aud
Iali tulHGS necessary or convenient TO car
Try on said objects and purposes.
Article " The capital stock Of thi,
corporation - hereby nNcd gt the sum at
ten thousand tSlUUoOUOi dollars divided
INTO on" hundred tlupi shares of the pgr
value of one hundred 100000 dollars each
Ic1pital stock of this corporation may De-
increased shall Zoe twenty-five thousand
l"-1.OOoOOl dollars. Fifty t5uj shares. or
five thousand $4,000 OO) dollars of tL, can
Iital stock of this. corporation must be sub
Iscrlncd before the filing OF the articles of
Incorporation. The subscribed ,guit.,I
stock of this corporation shall be payabl,
IN cash, property (rcal or PERSONAL or
ifOr labor and services rendered ana ppr-
formed
! No stakeholder shall ever be- held liable
or responsible for the faults contracts or
debts of this corporation in any further
/ pOraton on the shares OF stock Sub>rrib-
ed by him. nor shall any mere iufOrmality
| IN organization hay" the effect of render
ling this charter null. or of exposing any
shareholder 10 any liability Whatsoever.
This corporation shall not engage in
business until fifty (JOD shares or five
Thousand t$JOOO.OuD dollars of the CAPITAL
stock shall have been issued and paid in.
| III cash or for property, or for cash and
property, ana if any stock of this cor
IpOratlon is exchanged either in whOIc or
| IN part for property or good will. in that
IeyeHt the provisions of Section 2 of Act
26' OF 1914, shall be complied with strictly.
! Article N.-All the corporate powers of
this corporation shall be vested in and
IeNcrciSed by a Board of Directors to be
composed OF three stockholders, each of
whom shall own in his own right. during
ms term Of Office, al least one fun paid
share of stock, two of whom shall con
Stitute a quorum for the transaction of
business.
Article NI-Thc officers of this corpora
tiOn shall consist of Il President Vice
President, Treasurer and "A Secretary, all
of whom shall be members of the Board
of Directors.
The following named shall constitute the
nrSt Board of Directors, tO-wit:
Nelson Jensen, 1927 Napoleon Ave. New
Orleans, La, David +. Dixon. 1926 Peters
Ave, New Orleans, La, William X. VI.
whitney, Baton Rouge, La, all residents
of the state of Louisiana. as above stated
with Nelson Jensen, president, David +.
Dixon, vice president and treasurer, and
William Il. 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 east in
person or by written proxy, and il 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 a 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
snail hold regular meetings at such times
as shall be fixed in the bylaws of this
corporation. TheSs meetings shall he 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 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
| 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 may be altered.
amended or changed as the eXigencies of
the case may require.
Article VII.-The stock of this CORPORA
ton may be transferred, provided such
transfer shall be 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 ($J.OOO.OO) dollars, or fifty 900 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
offer is to be made to appear by letter adj
dressed to each stakeholder ut his last
known address. At the expiration of
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
ihed 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-
t1ce in writing to each stakeholder, mail
ed to him ut his last known pOst-Office
address, all in accordance with the terms
of Act 267 of 1914.
Article IN.-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 liquidatOrs 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 90 shares; David +. Dixon, 1926
Peters Ave, seventeen 40 shares; VIM.
X. W. Whitney, Baton Rouge La, herein
represented by Sig. ). Levy of New Or
leans, La, by power of attorney hereto
annexed, sixteen (l6) 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 i.
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; u. L. Dixon, II
shares; w. Il. NJ Whitney, by S. S. Levy,
10 shares.
Witnesses Francis p Burns, Arthur
Ryan.
JOHN X. UPTON, Not. Pub
/, the undersigned, Recorder of Mort
cages, in and for the Parish of Orleans