The herald., 1918-06-06
CHARTERS.
CHARTER OF
THE DOULLUT 4 WILLIAMS SHIP
BUILDING COMPANY, INC,
United States of America, State of Louis
lana, Parish Of Orleans, City of New
Orleans.

Orleans.
BE it known, that on this 18th day of
the month of April in the year of our
Lord. one thousand nine hundred and
eighteen. and of the Independence of the
United States. the one hundred and forty
second, before me. Arthur l.. Leopold. a
Notary Public duly commissioned and
qualified i'm and for the City of New Or
leans. Parish of Orleans, and therein re-
siding and in the presence of the wit
neSses named and undersigned personal
ly came and appeared:
The several persons whose names are
hereuntO subscribed and who Scverally de
clared that availing themselves of the laws
of the State of Louisiana in such cases
made and provided, they do, by these
presents, form themselves into cOrpOr-
alton under the following stpulatiOns:
Article 1.-The name of this corporation
shall be the "Doullut & Williams Ship
building Company, Inc" by which name
said corporation shall have and enjoy cor
pOrate existence aud succession for Il
term of ninety nine 800 years, from and
after the date hereof, unless sooner dis
solved according to law; and its dOmiCile
shall be in the CITY of New Orleans. 1t
shall have power to contract. sue and be
sued, to make and use corporate seal,
and the same to break and alter at pleas
ure; to hold, receive. lease, purchase, sell
and convey, as well as mortgage and by
pOtheCate, under its corporate name, pro
perty both real and personal: to borrow
money and lend money, TO give and re-
ceive securities therefor. to make and ap-
point such managers, directors and Off
GERS as the interest and convenience of
said corporation may require: to make
and establish such bylaws, rules and reg
ulatiOns as may be necessary and proper
and the same to alter and amend at pleas
urc.
Article U.-AIl citations and other legal
process shall be served on the President
of this corporation, and in ease of his
absence, upon the Vice President, or the
Secretary Treasurer thereof
Article lll.-The objects and purposes
for which this corporation is formed are
declared to be: to build, make operate
maintain, buy, sell, deal in and with. own.
lease, pledge, and otherwise dispose of
ships, vessels, and boats 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 equip
ment thereof, and together with engines.
boilers machinery and appurtenances of
all kinds, and tackle, apparel and furni-
ture of all kinds. including all other
things that may be incidental or neces-
sary to the primary purposes for which
this corporation Is formed.
Article IV.-The capital stock of this
corporation is fixed at one million dollars
Isl, 900, 100000 which may be increased or
reduced permitted by law. That the
said capital stock is to be divided into
ten thousand 100000 shares of one hun
dred dollars (s1OOOO) each, of which eight
thousand $4,000 shares are to be pre-
ferred stock, and two thousand (2,OOO)
shares common stock, which may He is
sued from time to time by the Board of
the holders of said preferred stock shall
be entitled to receive from the surplus or
net profits of the corporation a yearly
dividend of ten per cent payable annual
Iy, before any dividends shall be paid
on the common stock. Said dividends on
the preferred stock of 10 per cent shall
be cumulative. The balance of the net
profits of the company declarable divi-
dends shall be distributed among the
holders of the common stock. The par
value of the preferred stock. together with
all AfxiH do hall
in the event of dissolution and division
OF the assets be paid in full before any
sum whatever shall be paid in liquidation
on account of the common stock and
thereafter. the common stock shall be en-
titled to the entire assets remaining. The
holders of the preferred stock shall have
no voting powers whatsoever, nor shall
they be entitled to notice of any meeting
of stockholders of the company. Said
preferred stock shall be subject to re-
demption out of net profits or earned sur
plus at one hundred and five dollars
(S1O5.00) per share, and dividends that
may have accrued thereon at such time or
time and in such manner as the Board of
Directors may determine.
Subscriptions to said capital stock may
be paid for in cash in property, and
good will, and as otherwise required by
law.
Article VAN the corporate powers of
this corporation shall be vested in board
of directors, to be composed of five of
the common stockholders. who shall be
elected by the common stockholders on
the first Monday of May of each year. be-
ginning on the first Monday of May, 1918.
The present board of directors shall hold
Office until the first Monday of May, 1919.
and until their successors shall have been
elected and qualified. The directors shall
elect President. and Vice-President.
and n Secretary Treasurer. In case of
any vacancy occurring on the board from
death, resignation otherwise, the
naming members shall fill the vacancy
until the next election. Three members
of the board of directors shall constitute
quorum.
The following named persons. to-wit
Orleans, La; W. Horace Williams. 331s
Coliseum St. New Orleans. La: Paul
Douilut, 500 Egania St, New Orleans. La. !;
leans, La: Louis II. Guerin. Oaklawn.
La. shall be and are hereby constituted
as the first board of directors, with said
Doullut. vice-President and W. Horace
Williams, Secretary Treasurer.
Article VII-All meetings of the stock
previous notice in writing mailed to each
stakeholder at his post office address.
Article VIII.-Wheneyer this corporation
is dissolved either by limitation or 9TH
erwise, its affairs shall be liquidated by
three liquidators, to he selected by the
stockholders after meeting convened for
that purpose shall have been called.
Article N.-This act of incorporation
may be changed, altered or amended or
said corporation may be dissolved. or it's
capital stock increased. provided for
by the laws of this state. after n general
meeting of the stockholders shall have
been called. after fifteen days previous
notice thereof given.
Article N.-No stakeholder shall ever
be held liable or responsible for the con-
tracts OF said corporation for any further
sum than the unpaid balance due upon the
shares of stock subscribed for. or owned
by him. nor shall any informality in or
ganization have the effect of rendering
this charter null or of exposing n stock
holder to any liability beyond the amount
of subscription to the stock.
The subscribers hereto have given op-
apostle their respective names, the amount
stock in this corporation subscribed
pr by each of them so that this Act of
Incorporation may also serve as the orig
FINAL subscription list of said corporation.
Thus done and passed, in the City of
New Orleans on the day, month and year
nrst above written. in the presence of
William A. Movers and 4. l.. Treadwpll
competent witnesses, who hereunto sign
their names, with the said appearer and
me. Notary.
Original signed):
NJ y. DOullut. 1900 shares preferred
stock, NJ. p. Doullut. 167 shares common
stock; w. Horace Williams, 1900 shares
preferred stock. w. Horace Williams 1877
shares common stock; Paul Doullut 1900
shares preferred stock, Paul Doullut l67
shares common stock: Louis H. Guerin
share common stock, A. II. Gomila |
share common stock.
witnesses: VIM. A. Movers, A. l.. Tread
well
ARTHUR Il. LEOPOLD. Not. Pub.
L, the undersigned Recorder OF Mort