The herald. [volume] (New Orleans, La.) 1905-1953, 1918-01-31
Al. {. HAMMER, Not. Pu
Jan II % 81 Feb Il p
CHARTER
OF CRESCENT CITY. MOSS GINNERY
INCORPORATED.

United States Of America, State of Louisi-
ana, Parish OF Orleans, City OF New
| Orleans.
| Be it known. That on this fifteenth day
| Of the month OF January, in the year OF our
Lord one thousand nine hundred and eighteen,
and of the Independence of the United
| second before me, Frederic Charles Marx,
| a Notary Public, duly commissioned and
| qualified. in and for the Parish of Orleans,
| State Of Louisiana, and in the presence OF
| the witnesses hereinafter named and I'M
| derSigned, personally came and appeared:
| The several persons whose names are here
unto subscribed, all residents of the City OF
| New Orleans, State of Louisiana, and of
the full age of majority, who severally de-
| clare, that availing themselves OF the pro-
! visions of the laws and Constitution Of this
| State, relative to the organization Of corpO-
rations, they have covenanted and agreed
| and by these presents, contract, agree and
| bind and Obligate themselves, as well as
| such persons as may hereinafter become as
| ISOLATED with them, to form and constitute
| body polite in law, for the objects and
purposes and under the agreements and stip-
| uations herein following, which they adopt
| as their charter, tn-wit:
Article 1.-The name and title OF this cor
pO.ation is hereby declared to be Crescent
| City Moss Ginnery, Incorporated, and shall
| have corporate existence for the period OF
| ninety-nine (90 years from the date hereof,
and shall have and exercise for the purpose
| of the business to be carried on by II, all
| the powers conferred by law on similar cor
| pOrations, including the power to make and
| use a corporate seal and the same 10 break
or alter at pleasure; to contract, sue and
| be sued in its corporate name; to hold,
yey, mortgage, hypOtheCate, pledge, or 9TH
| vey, mortgage, hypOthecate, pledge, or 9TH
erwise cucumber property, both real and per-
sOnll; to issue bonds, notes other ebliga-
| tions, for the purpose of borrowing money,
and TO secure same by mortgage other
wise, to name and appoint such officers, man
a pnt nd nth her 11nln eos
as the interest of the said corporation may
| require, and 10 establish such bylaws, rules
and regulations as may be necessary and
proper, and the same TO alter, amend or
| abolish at pleasure, and generally 10 do and
| perform all such acts and proper to carry
out and execute the purposes OF this cor
| poraton.
Article 1.-THE domicile of this corpora.
ton shall be in the City of New Orleans,
| State of Louisiana, but it may establish and
| operate Offices and agencies wherever il may
| deem advisable. All citation or other legal
process shall be served on the President and
| Treasurer of this corporation, in the event
OF his absence or inability to act upon the
Vice President.
Article III.-The objects and purposes for
which this corporation is organized and the
| nature of the business to bes carried on by
| it are hereby declared to be: To gin, buy,
| sell, export, clean and generally to deal in
| moss to purchase, hold, lease and otherwise
acquire, construct, maintain and operate fac
torres, mills ana glnuerleS, IN THIS STATE ana
| elsewhere, as may be necessary, convenient
Or deemed proper for the prosecution OF its
| business, and generally to do any and all
| things which may be necessary or incidental
to the conduct of the business herein con-
| templated.
Article IV.-The Capital stock of this cor
| poration is hereby fixed at the sum of seventy
thousand dollars (s7OOOOOO) divided into and
represented by seven hundred GOO shares
of stock of the par value of One Hundred
Dollars $4,000 each. Said stock shall be
paid for in cash at such time, in such
| amounts and after such notice to the sub.
! scribers as may be fixed by the Board of
Directors, and the same may be issued at
not less than par for labor done or property
actually received by the corporation. Said
stock shall be fully paid and worcestershire
when issued. No transfer of said capital
stock shall be binding upon this corporation
unless made in accordance with the charter
and bylaws and recorded the stock trans
fer books of the company.
No stakeholder of this corporation shall
sell his stock to any person, until he has
first offered the same to the then stock
holders of the corporation at its then book
value, and the said stockholders shall have
the right to accept or reject said offer within
five days after the same has been made in
writing and filed with the Secretary of the
corporation.
This corporation shall be a going concern
as soon as Forty-fve Thousand Dollars of
the capital stock has been subscribed for
The capital stock Of this corporation may
be increased or diminished in accordance with
the laws of the State of Louisiana, in such
cases made and provided.
The amount to which the capital stock of
this corporation may be increased is hereby
fixed at Two Hundred Thousand Dollars,
$4,000 OO.
Article V-All the powers of this corpo-
ration shall be vested in and exercised by
a Board of Four Directors, each of whom
shall own at least one share Of the capital
stock of this corporation, and three directors
shall constitute a quorum
The said directors shall be elected by bal
lot at the annual meeting of the shareholders,
under the supervision of two commissioners,
appointed by the Board Of Directors, which
meeting shall be held on the Third Monday
of January of each year, .after, due notice
given to the stockholders by the Secretary
by mail at least fifteen days prior to the
date of such election At all meetings Of
the shareholders each shareholder shall be
entitled TO cast one vote, in person or by
proxy, on each share of stock held by him,
but no persons shall vote and stock trans
ferred within ten days eff the holding of said
meeting. At all elections it shall require
a majority of the votes cast to elect. AT
any meeting of the Board of Directors, any
director absent from said meeting may be
represented by another director, who may
cast the vote of said absent directors upon
all matters coming before the meeting The
Board of Directors shall have the power 70
of the property, movable and imlmovable, be-
longing TO the corporations, without refer
ence to the shareholders for power to do so,
and they may also purchase for cash or on
credit property of any kind required for
any of the purposes of this corporation, with
out authority from the shareholders. The
Board of Directors shall have the power TO
issue or confer general or special power on
the President and Treasurer to issue prom
issory notes and other negotiable paper. 1t
shall require the vote of a majority OF the
Directors to transact any business, or pass
any resolution or motion.
Until the next general meeting to be held
under this charter viz: on the Third Monday
of January, 1919, the Board Of Directors of
this Company shall be composed of Noise
Levy, Jr., 1920 St. Charles Ave, New Orleans,
La, Nathan S. Stern, los Berlin Street,
New Orleans, La, Walter E. Levy, 1920 St.
Charles Ave, New Orleans. La, and Jake
s. Stern, Canal and Royal Streets, New
Orleans, La, with Noise Levy. Jr. Pres
ident and Treasurer Nathan S. Stern, Vice
President, and L. P. Delahoussaye, Secre-
tary.
The Officers of this corporation shall be
a President and Treasurer, and a Vice-Pres.
ident and a Secretary. The Secretary need
not be a shareholder or director The Board
of Directors shall have full power and au-
thority to fill all vacancies occurring in the
number. All officers and directors of this