The herald. [volume] (New Orleans, La.) 1905-1953, 1918-06-20
CHARTERS
CHARTER.
OF SHERMAN BROS. & CO., INC.
United States Of America, STATE o. LOUIS

BE IL known and remembered that on TINS
Sth day Of the month Of June, IL the year OIL
our Lord 1918, and % the Ihittd S'a'ts "
America the One Hundred and forty second
Before me, Meyer Samue. Dreiius, 4 10
tary Public, duly sworn, comm ss!OHed a"1
qualified, IN and for the Parish aud STATE
aforesaid; and ~ the presence 0i the vat
nesscs hereinafter named and uadeEsl gied
Personally came and appeared the per
SIMS whose names are hereto subscribed a
such. Of the full age Of majority, residing II
the Parish Of Orleans, VINO declared 10 ne
that awaiting themselves Of the laws 81 tAl'
State relative 10 the organization oI co-Po
rations, and more PARTICULAR y Of Act @o' o.
the Acts Of the General Assembly Of INT
State Of Louisiana lgr the year I9l4, page
2SS. and Act 232 Of 1910, page 5S3, they have
coyensuted and agreed, and by these pres
ents 30 covenant and agree Tor themselves
and their successors and assigns 70 lorH
themselves into a corporation and body poll
tic for the objects and purposes and unde
the stipulations hereinafter set iorth, 10
wit:
ARTICLE 1.-The name and title OF thi
corporation shall be Sherman Bros. 90.
Inc" and under such title II shall have
and enjoy succession and existence tor
period OF ninety nine years from date here
of; it shall have power and authority Z
contract, sue and be sued, make and use
corporate seal, the same to break Or aItei
at pleasure; to hold, sell, lease, mortgage
or mixed necessary, incidental or proper Tot
the carrying on of its business, and tC
name, elect and appoint managers, director
and clerks or other employees 10 properly
conduct its corporate business ana TO MAXI
such by laws, rules and regulations, as may
be found necessary or desirable for the man
agement of this corporation, and generally
to do every other act, matter or thing nee
essary for the complete and proper carry
ing on Of said business.
=.
poration shall be in the City Of New Or
leans, Parish of Orleans, State OF Louis
lana, where all citation and other legal pro
cess shall be served upon the President, Oh
in the absence of the President upon thI
e-President, or, in the absence OF both
upon the Secretary Treasurer.
ARTICLE III.-The objects and purposes
of this corporation shall be TO conduct ;
business of buying and selling scrap iron
Junk, new and second hand machinery, anC
steel rails, and any other articles OF com
merce, at wholesale and retail, and TO dc
any and all acts necessary or incidental L
the carrying on and conducting OF The
aforesaid objects and purposes; and 10 en-
gage in the business of buying and selling
steel and other metals and machinery; t.
engage in the reducing, refining and meltini
of such materials, and to do any and al
things necessary or incident TO the above.
ARTICLE IV.-The capital stock OF thu
corporation shall be Ten Thousand Dollar
(sl0UOOO, divided into 100 shares Of TIT
par value Of $1,000 per share, and this cor
poration shall become a going concern whei
fifty $50 shares of its said capital stool
shall have been subscribed and paid for II
cash, or its equivalent.
No stakeholder shall ever be held liabl
for the faults, contracts or debts OF this cor
poration on the shares of stock subscribe
for by him, nor shall any mere intormalit!
in organization have the effect of rendering
this charter null, or of exposing any share
holder to any liability whatsoever
ARTICLE V.-All the corporate powers o
this corporation shall be vested in and ex
ercised by Board of Directors to be com
posed of three stockholders. majority o
whom shall constitute a quorum. The OF
ficers OF this corporation shall consist OF
President, Vice President and Secretary
Treasurer, all of whom shall be members o
the board of directors, to-wit:
Abraham Sherman, President, 1885 Baronn
Street
Maurice Sherman. Vice-Presdent, 1855 Ba
rome Street.
jacob Sherman, Secretary Treasurer, lS3
Baronne Street.
And these directors and officers shall hol
their said office until the 10th day Of June
1919, or until their successors shall hav
been duly elected and qualified:
Thereafter the directors shall be electe
annually on the 10Th day of June of eac
year, beginning with the year 1919. Al
elections of directors shall be by ballot an
each stockholder shall be entitled to one vot
for each share Of stock standing in his nam
on the books of the corporation, this vot
TO be cast in person or by proxy, and
shall require a majority Of the stock presen
or represented to elect.
ARTICLE VI.-The board Of director
shall meet and adopt bylaws, rules an
regulations governing the management OF IN
corporation as the directors may see tit.
ARTICLE VII.-The several stakeholder
agree not to sell, transfer, donate or other
wise dispose of any of the share, or shares
of stock held by them without offering IN
said stock to the corporation, which snal
have the right within ten days IRON dat
of receipt Of said notice by the Presiden
20 purchase the said stock offered for sale
in whole or in part, at price 10 De agree
upon between the said corporation and IN
said shareholder, provided that the sai
orice shall not exceed the maximum valu
of said stock so offered for sale, which yalu
shall be determined to be the value OF n
said stock as it appears on the DOCKS Oh u
said corporation as OF that date. After sue
time should the corporation decline 10 pu
chase said stocks, the shareholder shall haN
the right of option TO offer SAID STOCK Il
sale TO any other person or persons, firms
corporations. ,
ARTICLE vIII.-This charter may
modified, or altered. the capital stock Their
OF increased or decreased, or the corporato
NAV be dissolved with the assent OF tw
thirds of the capital stock present or rel
resented at any meeting of the stockholdel
held for that purpose, after prior notice
writing to each stockholder mailed to hi
at his last known post office address,
in accordance with the terms of Act
of 1914
ARTICLE IX.-At the expiration Of tn
charter, or at the earlier dissolution OF tn
corporation for any cause, its affairs sha
be liquidated by one or more hquidators
DE elected by the stockholders, all of who
shall hold stock in said company and Il
said commissioners are hereby vested wit
full power and authority TO liquidate the a
fairs Of said company in accordance with Il
terms of Section q of Act of 1914.
ARTICLE X-The appearers hereby d.
clare that they have subscribed to the 10
lsuipg number of shares in the proporto
opposite their names, and their sign
hereto shall constitute their origin
option to the capital stock of said CO
Mon on the proportion set opposite the
mes
Abraham Sherman. 10 shares.
Jacob Sherman, IS shares.
Maurice Sherman, shares.
Thus done and Passed in my office in II
City Of New Orleans on the Sth day Of Jun
1918. in the presence Of Herbert w. Kaist
and Marguerite c. Stein. competent witnesse
who have signed these presents, togeth,
with said appearers and me, Notary, aftt
due reading Of the whole
Witnesses: II. w. Kaiser, NJ. G. Stein
A. Sherman. l3 shares; NJ. Sherman,
A. Sherman, , shares; ]. Sherman, IS share
MEYER S. DREIFUS,
Notary Public.
In and for the Parish Of Orleans, State
Louisiana. do hereby certify that the aboN
and foregoing Act Of Incorporation Of Il
Sherman Bros & Co, Inc, was this da
duly registered in my office in Book l22
roIo 49,