The herald., 1918-05-02
100000
ARTICLE w.

ARTICLE w.
The capital stock of this corporation
is fixed at the sum of fifteen thousand
dollars, divided into one hundred and
fifty shares of the par value of one
hundred dollars each. All shares of
stock shall be full paid and non-assess-
able. No transfer of stock shall be
binding upon the corporation unless
made upon it's books and all GER
tificates of stock shall be signed
by such officers as may be designated
by the board of directors. This corpora
tion shall have the right to increase it's
capital stock to the further sum of
100000, one hundred thousand dollars
to be divided into shares of one hundred
dollars (S100.OO) each. provided such in
crease in the capital stock shall have
been authorized by three-fourths of the
stockholders at a meeting held for that
purpose after being duly notified in
writing. No stock shall be sold by any
stakeholder until the same shall have
been offered for sale to the corporation.
which shall have the right to purchase
the same. and no transfer shall be made
upon the books of the corporation until
the stock has been so offered and de-
clined. In the event of the increase of
the capital stock the additional shares
shall be first offered to the stockholders
DESTROYS of subscribing to such in
crease.
ARTICLE V.
All the corporate powers of this cor
poration shall be vested in, and the
management and control of its affairs
shall be exercised by a board of direc-
tors composed of three stockholders. A
majority of the directors shall consti-
tute a quorum for the transaction of
business. The directors shall be elected
annually by ballot; the first board of di-
rectors shall be elected on the third
Monday of February, 1919.
Each stakeholder shall be entitled. in
person or by proxy. to vote for every
cd Nv aim md oil al
shall be held under such rules and regu-
lationS as may be determined by the
board of directors; after fifteen days
notice by mail of such election shall
have been sent to each stakeholder at
his last known address. The directors
thus elected shall continue in office for
one year. or until their successors shall
have been duly elected and qualified No
failure to elect shall be regarded as a
forfeiture of this charter. Any vacancy
occurring on said board shall be filled
by the remaining directors for the unex-
pired term; the said board shall like
wise elect the additional members in
case they should determine to increase
the number of said board. The said board
of directors shall. at it's first meeting
after it's election, nominate out of its
number president, a vice president, a
secretary and treasurer. Said board
shall have the right to consolidate any
two of said officers into one, or Segre-
gate said officers, as also their right to
appoint and dismiss such clerks, man.
ayers and other employees of the cor
poration as conditions may justify or
the business of the corporation may re-
quire. The tenure of office of all the
employees shall be during the pleasure
Of the board of directors.
ARTICLE VI.
No stockholder shall ever be held liza
Bile or responsible for the contracts,
faults or debts of said corporation nor
shall any mere informality in It's or
ganization have, the effect of rendering
holder to any liability beyond the un-
paid balance due on his unpaid stock
owned by him.
ARTICLE VII.
This act of incorporation may be
changed, modified or altered or this cor
Doration may be dissolved, with the as
sent of the stockholders owning two
thirds of all the stock of the corpora
hat purpose, after at least fifteen days
written notice of this meeting has been
given through mail. addressed to each
at his last known address.
In case of dissolution by the expiration
IF this charter or otherwise, the stock
holders shall elect three liquidators
from among their number to liquidate
md settle the business and affairs OF
he corporation.
ARTICLE VIII.
Ten thousand dollars S10.000.o0) has
,een subscribed to the capital stock of
his corporation, as follows:
Salvatore Battaglia, 535 St Philip St..
New Orleans. $500. (25 shares).
Joseph Foto, 535 st. Philip St., New |
orleans, $500 (25 shares).
Bartholomew Pirrone. 1912 Bourbon |
st., New Orleans, $500 Us shares).
Widow Salvatore Greco 5S5 st. Philip |
It., New Orleans, $4,000 (25 shares).
ARTICLE TX.
Until the election to be held on the |
bird Monday of February, 1919, the fol- |
owing shall constitute the first board |
f directors, viz:
Salvatore Battaglia, Joseph Foto, Bar
holomew Pirrone, of whom the said /
,alvatore Battaglia shall act as presi- !
lent Joseph Foto as vice president, and |
Pirrone as secretary-treas-
Irer.
Thus done and passed in my office at
he City of New Orleans, on the day /
nd date first above written. in the pres
nee of John ]. Wingrave and L. de La
roix, both of this city, competent wit
esses, who sign these presents with |
aid appearers and me, notary. except /
Widow Salvatore Greco, who having de-
Jared that she was nliterate, made her i
sual mark.
(Original signed): Salvatore Battag-
la, rs shares: Bartholomew Pirrone, 25 /
hares; widow Rosa Cher x mark)
;reco, rs shares; Jos. Foto. rs shares.
Witnesses: John ]. Wingrave. L. de
.acroix. THEO. COTONIO,
Notary Public.
!, the undersigned Recorder of Mort /
ages, In and for the Parish Of Orleans,
tate of Louisiana. do hereby certify