The herald. [volume] (New Orleans, La.) 1905-1953, 1918-06-13
CHARTERS
CHARTER.
OF SHERMAN BROS. & CO., INC.

America the One Hundred and forty second;
BEFORE me- Meyer Samuel Dreitus, No.
tary Public, duly sworn, comma SSloned ana
qualified, in and for the Parish and State
Aforesaid; and in the presence OF the wit
nesses hereinafter named and undersigned:
Personally came and appeared the per-
sons whose names are hereto subscribed as
such OF the full age Of majority, residing III
the Parish Of Orleans, who declared !? ms
that availlng themselves of the laws OF TINS
State relative to the organization OF coIPo-
rations and more particularly OF ACT -o/ OF
the Acts of the General Assembly OF me
State OF LOU siana for the year l9l4, page
255. and Act 2S2 Of 1910, page 1913, they have
and agreed and by these pres
ents do covenant and agree Tor themselves
and their successors and assigns to form
themselves into corporation ana OoGy P1H-
tic for the objects and purposes anu uHue'
the stipulations hereinafter set forth, 10
wit: -.
ARTICLE 1.-The name and title OF this
corporation shall be Sherman Bros. Co.,
Inc" and under such title II shall have
and ENJOY succession and existence LOT
period OF ninety nine years from date mere
of; it shall have power and authority to
contract, sue and be sued, make and use
corporate seal, the same to break or alter
at pleasure; to hold, sell, lease, mortgage,
hyp1thecate or pledge property real, personal
or mixed, necessary, incidental or proper io'
the carving on OF its business, and to
name, elect and appoint managers directors
and clerks or other employees 10 properly
conduct its corporate business and II make
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.
ARTICLE 1.-THE domicile OF this cor
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, Or
in the absence Of the President upon the
Vice President, or, in the absence OF Ooth,
upon the Secretary Treasurer
ARTICLE III-The objects and purposes
Of this corporation shall be TO conduct a
business Of buying and selling scrap iron.
junk. new and second hand machinery and
steel rails, and any other articles OF com
merce, at wholesale and retail and to do
any and all acts necessary or incidental 10
the carrying on and conducting OF the
aforesaid objects and purposes; and TO en-
gage in the business of buying and selling
Steel and other metals and machinery; TO
engage in the reducing, refining and melting
of such materials, and to do any and all
things necessary or incident to the above.
ARTICLE IV.-The capital stock OF tins
corporation shall be Ten Thousand Dollars
(Sl0mOOO, divided into 100 shares Of the
par value of $1,000 per share, and this cor
poration shall become going concern when
fifty 500 shares OF its said capital stock
shall nave Deen subscribed ana pdlu lOl III
cash, or its equivalent.
No stockholder shall ever be held liable
for the faults, contracts or debts OF this cor.
poration on the shares OF stock. subscribed
for by him, nor shall any mere informallty
in organization have the effect of rendering
this charter null, or OF exposing any share
holder to any liability whatsoever.
ARTICLE N.-All the corporate powers Of
this corporation shall be vested in and eN
ercised by a Board OF Directors to be com
r II. tnrt+p n
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 Baronnt
Street.
Maurice Sherman, Vice President, 1885 Ba
rome Street.
Jacob Sherman. Secretary Treasurer, 1873
Baronne Street.
And these directors and officers shall hole
their said office until the 10th day Of June
| 1919, or until their successors shall havt
been duly elected and qualified
| Thereafter the directors shall be elected
| annually on the 10th day of June OF eacl
year, beginning with the year 1919. Al
| elections of directors shall be by ballot AM
each stakeholder 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 /
4
| or represented TO elect.
| ARTICLE VI-The board Of director
shall meet and adopt bylaws, rules an,
| regulations governing the management of III
| corporation as the directors may see fit.
| 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 til
| said stock to the corporation, which shal
have the right within ten days from dat
| OF receipt of said notice by the President
to purchase the said stock offered for sale
| in whole or IN part, at price TO be agree
upon between the said corporation and tn
| said shareholder, provided that the sal
| price shall not exceed the maximum valu
of said stock so offered for sale, which valu
shall be determined to be the value OF tn
said stock as it appears on the books of tn
said corporation as of that date. After sue
time should the corporation decline to pun
chase said stocks, the shareholder shall hav
the right of option TO offer said stock 10
sale TO any other person or persons, firms q
corporations.
ARTICLE VIII.-This charter may b
modified, or altered, the capital stock there
of increased or decreased. or the corporatio
may be dissolved with the assent of two
thirds of the capital stock present or rel
resented at any meeting of the stOckholdel
held for that purpose, after prior notice i
writing TO each stakeholder mailed to hi
at his last known post office address,
in accordance with the terms of Act q
| OF 1914.
ARTICLE IX.-At the expiration of TIL
charter, at the earlier dissolution Of TIL
corporation for any cause, its affairs sha
be liquidated by one or more liquidators
be elected by the stockholders, all of who
shall hold stock in said company and III
said commissioners are hereby vested wit
full power and authority to liquidate the a
fairs of said company in accordance with ii
terms of Section % of Act of 1914.
| ARTICLE X.-The appearers hereby d.
clare that they have subscribed to the 70
lowing number of shares in the proporto
set opposite their names, and their sign
lures hereto shall constitute their origin;
| subscription to the capital stock Of said co
poration on the proportion set opposite the
| names.
Abraham Sherman, 10 shares
Jacob Sherman, IS shares.
| Maurice Sherman, 2 shares
Thus done and Passed in my office in II
City Of New Orleans on the 9Th day Of Jun
1918, in the presence of Herbert W. Kais,
| and Marguerite G.. Stein, competent witness
who have signed these presents, togeth,
with said appearers and ne, Notary, aft
due reading of the whole
| Witnesses: II. w. Kaiser NJ c. Stein
A. Sherman, Is shares; NJ Sherman. b
A. Sherman. ? shares; ]. Sherman, IS share
MEYER S. DREIFUS,
Notary Public.
l, the undersigned Recorder of Mortgage
in and for the Parish of Orleans, State
Louisiana, do hereby certify that the abo,
and foregoing Act of Incorporation of II
Sherman Bros. & Co., Inc, was this da
duly registered in my office in Book 122
Folio =.
New Orleans, June -, 1918
Signed: EMILE J. LEONARD, D. ]
| hereby certify that the above and for