The herald. [volume] (New Orleans, La.) 1905-1953, 1918-09-26
CHARTERS.


for which this corporation is established, and
the nature of the business to be carried on
by il are to buy and sell furniture, house
hold goods and other wares and merchandise,
to establish stores throughout the State, to
lend money for the establishment of such
stores, and to enter into partnerships for the
purpose of conducting mercantile stores.
ARTICLE lV.-The capital stock of this cor
poration shall be 100000, divided into 100
shares of the par value of $1,000 each, and
may be increased to the sum Of 100000,
divided into 500 shares of the par value of
$1,000 each, and this corporation is to be a
going concern when one-half of the capital
stock has been issued and subscribed for.
Each share of stock shall be entitled to one
vote at all general elections. Should the
capital stock Of this corporation ever be in
creased over the sum of 100000 then such
additional shares of stock that may be is
sued shall first be offered to the holders Of
stock at the time of issuance of said new
stock in the proportion in which the said
stockholders shall at the time Of issuance
hold stock in this corporation.
ARTICLE N.-No stakeholder shall ever
be held liable or responsible for the indebt
edness, faults, or defaults Of this corporation
nor shall any mere informality in the orga-
nlzation of the corporation have the effect
Of rendering the charter null or of exposing
the stockholders to any liability beyond the
unpaid balance, if any, his stock sub
scrptlon. Should any stakeholder desire to
sell his stock he shall first offer the same to
the stockholders of the company through its
board of directors, and the stockholders who
desire to purchase shall have the right to
holdings of stock in the company. Should
sad stockholders in fifteen days after notice
having been given, in writing. fail or refuse
to purchase the stock offered for sale, such
stock may be sold TO any one. No transfer
Of stock shall be made or held to be valid
and binding unless made on the books of
the company, and unless made in pursuance
Of the provisions Of this charter
ARTICLE NI-This corporation shall have
! all powers granted to such corporations by
law, and shall have the power to contract,
sue and be sued in its corporate name. and
to own. hold, receive, loan. lease, purchase.
sell and convey or mortgage any and all
of its effects, or 10 hypOtheCate its property.
and to do any and all acts and things Of any
other kind, nature or description, as may be
necessary to carry out the objects and pur-
poses Of said business as its interests and
corveniences may require.
ARTICLE NII-The business of said cor
poration shall be directed by and vested in
board of directors of three stockholders, two
Of whom shall constitute a quorum for the
| transaction of bushes, and the said direc-
tors as first constituted shall be. Perry {.
Doerr, Isaac NJ. Causey and ]. Gordon
Baughin, and they shall hold office, until the
first Monday of October, 1919, and on that
day and from each and every day thereafter
elections snail be neld annually tor directors
at the principal office of the corporation.
Failure TO hold an election on the day speci-
fled. shall not dissolve the corporation, but
the directors in office shall hold their re-
spective offices until election shall be
held after thirty days notice Of the time and
place thereof given to each stakeholder The
annual election shall be held on the first
Monday OF Oct, 1918, and thereafter on
the first Monday of October of each sue
ceeding year, and the election shall be held
hPF IN haf Of NJ a,,I 4
All vacancies on the board OF directors for
whatever cause shall be filled by the remain
ing directors. Perry c. Doerr shall be the
first president, Isaac NJ Causey shall be the
first vice president, and ]. Gordon Baughn
shall be first secretary treasurer, and they
shall hold office until the first Monday of
October, 1919, and each succeeding board
of directors shall elect its principal officers
for the term OF their election, and only stock
holders shall be eligible for election as a
member of the board of directors.
ARTICLE NIlI.-Whenever this corporation
is dissolved, either by limitation. or for any
other cause, its affairs shall be liquidated
by the board of directors, who are hereby
vested with full power to sell any or all
assets Of the corporation, either separately
or IN a mass, and to convey full and complete
title thereto, and shall have full power to
do and perform all acts necessary and
proper to fully and completely liquidate the
| affairs and distribute the proceeds, if any,
among the stockholders of the said corpora
tion to the amount of stock held by each
ARTICLE lN.-This act of Incorporation
may be amended, altered or modified, or this
corporation dissolved by a vote of three
| fourths Of the shares of the total amount Of
stock at a meeting convened for that pur-
pose after ten days notice in writing mailed
to the address Of each stakeholder.
Thus done and passed, in my notarial Of
flee. in the city of New Orleans, State of
Louisiana, the day, month and year first
above written, in the presence of Ruth NJ.
Seller and Robert E. Bell, competent wit
nesses. who have hereunto signed these
presents, together with the parties hereto, and
me, Notary, after a reading of the whole
Witnesses: Ruth NJ. Seller, Robert f. Bell.
p. c. Doerr, 1914 Fourth ST., New Orleans,
La, SO shares; J. G. Baughin, Bogalusa, La,
5 shares; l. NJ. Causey, Baton Rouge. La. 2
shares. A. A. MORENO, Notary Public.
/, the undersigned Recorder of Mortgages,
in and for the Parish of Orleans, State of
Louisiana, do hereby certify that the above
and foregoing charter of The Mercantile
Stores, Inc, was this day filed and recorded
in the mortgage office for the Parish of Or
leans, in Book 1922, Folio 454 EMILE J.
LEONARD, by. X. A true copy of the ORR
ginal now file in my office. A. A.
MORENO, Notary Public.
Sept. 1876, Oct. 3-l0H-24.