The herald., 1918-08-15
CHARTERS.

State OF Louisiana ana elsewhere. 10 con.
|Nli"l l. acquire ami Use railways, tram
ways and other roads or rights OF Way
nor the transportation of veneer. boxes
tNhooh>. lumber, timber. LOGS aud other
products, 10 buy, lease cor uturrni,. a.-
.qulre timber lands ana timber rights on
land, and to acquire. lease. hold and buy
lands for IN" use of SAW mills and fac
tories and timber yards. iu tho State Of
Louisiana, or el>eW here. 10 at.uuira Iy
purchase. lease or otherwise. patents and
inventions that might be- used for the uur
poses of the business of thi, corporation
and generally To 30 and perform any and
AN things necessary or convenient To- car
T! ON said objects and purposes.
Article " The capital stock Of thi,
corporation il hereby fixed az the sum or
ten thousand )$IOOoOOOt dollars. divided
into onr hundred tlOU shares of tho par
value of one hundred 100000 dollars each
provided, that the amount 10 which the
ICapital stock of this corporation may bee
Increased shall be twenty-five thousand
lS2"Unouol dollars. Fifty tIUb shares. or
live thousand $4,000 OOl dollars of the cap
'ltal stock Of this corporation must be- sub
|Scrihcd before the filing of the articles of
incorporation. The subscribed capital
stock of this corporation shall he payable
i'm cash, property tread or prr~ougp. or
nor labor ana services rendered and per
formed.
No stakeholder shall ever be- held liable
.Or responsible for the faults contracts or
debts Of this corporation ia any further
FOrItiOu on the shares of stock ~ubSrrib-
ed by him. nor shall any mere IuiorualiIy
an organization have the effect OF render
ing this charter null or of cNuo~iH.- ANY
shareholder 10 any liability whatsoever.
This corporation shall not cugag. In
business until nifty tJuI shares or five
Thousand tNJOou.nOl dollars Of the capital
stock shall hay" been issued and paid in
in cash or for property, or for cash and
property, and if any stock of thi, cor
iporatIou is exchanged. either in Nholr or
in part for property or good will i'm that
event the provisions of Section > of Act
i2ti OF l'li shall be complied with strictly
Article N.-Au the corporate powers OF
this corporation shall be- vested in and
Exercised by Board of Directors to De
composed OF three stockholders. each of
whom shall own in his own right. during
his term Of Office. at least one full paid
/ share of stock. two of whom shall con
Sttute quorum for the transaction of
business.
Article The, officers Of this corpora
ton shall consist of a President, Vice
President, Treasurer and a Secretary. all
Of whom shall be members of the Board
| of Directors.
The following named shall constitute the
first Board of Directors, to-wit:
Nelson Jensen. 1927 Napoleon Ave. New
! Orleans, La, David +. Dixon, 232G Peters
! Ave. New Orleans, La, William X. W..
| whitney. Baton Rouge, La, all residents
OF the state of Louisiana. as above stated,
I.
| DIXON vice president and treasurer, and
! William X. NJ. Whitney, secretary. and
! these directors shall hold Office until the
| first Monday of July 1919 or until their
| successors are duly elected and qualified.
Thereafter the directors shall be elected
| annually on the first Monday of July Of
each year; all elections of directors shall
| he by ballot, and each stakeholder shall
be entitled to one vote for each share of
stock standing in his name on the books
! of this corporation, this vote to be cast in
person or by written proxy, and it shall
| require twO-thirdS of the stock present or
| represented to elect.
| Failure to hold an election for directors
| on the first Monday of July 1919, or an
nually thereafter. shall not work a forfeit
ure of this charter, but the old Board Of
Directors shall remain in office until their
successors are duly elected and qualified.
Article VI The Board of Directors
! shall hold regular meetings at such times
| as shall be fixed in the bylaws Of this
corporation. These meetings shall he held
| at the dOmicile of the corporation, but the
president may call special meetings of the
| Board of Directors at such times as he
may deem advisable, and he shall be re
qulred to call such special meetings ut the
request of q member of the Board of hi
| rectOrS. Three days written notice of such
| special meetings shall be given to the di-
rectors. unless waiver of such notice is
signed by the directors. Any vacancy Oc-
curing in the Board of Directors. either
from death resignation or inability "a
Board of Directors at its next regular
meeting after such vacancy shall have Oc'
CURED. The first Board of Directors OF
this corporation shall be required to draft
suitable bylaws for the government OF
this corporation, which may be altered
amended or changed the eNigencies OF
the case may require.
| Article NII.-The stock of this corpora
ton may be transferred, provided such
transfer shall be recorded on the books
of this corporation before ii shall be re-
Inn nR.a.t IN NIg g e L..
new holder of holder of said stock. The
total amount of the subscribed stock. as
herein set forth, is the sum of five thou
sand tS5OO0OO) dollars, or fifty t50) shares
which are hereby authorized to be issued
fully paid for and non assesable, for cash.
| In the event that any stakeholder de-
sires to sell his stock, or any part there
of, he shall first offer same to the remain
ing stockholders, in proportion to their
respective holdings, at its book value. This
offer is to be made to appear by letter adj
dressed to each stakeholder at his last
known address At the expiration of
which time, the said stakeholder desiring
to sell his stock, shall be at liberty to do
so ut whatever price and to whom he shall
please.
Article VIII.-This charter may be mod
flied or altered. the capital stock thereof
increased or decreased, or the corporation
may be dissolved with the assent of two
thirds of the capital stock present or rep
resented at any meeting of the stOckhOld-
er held for that purpose after prior no
tice in writing to each stakeholder, mail
ed to him at his last known pOst-Office
address. all in accordance with the terms
of Act 267 of 1914.
| Article IX.-At the expiration of this
charter or the earlier dissolution of this
corporation for any cause, its affairs shall
be liquidated by one or more liquidatOrS
to be elected by the stockholders, all OF
whom shall hold stock in this corporation
; and said liquidatOrs are hereby vested
with full power and authority to liquidatC
the affairs of said corporation.
| Article X.-The appearers hereby declare
that they have subscribed to the follow
ing number of shares of the capital stool
of this corporation, tO-wit:
Nelson Jansen. 1927 Napoleon Ave, sew
enteen % shares; David L. Dixon, 232'
Peters Ave, seventeen 90 shares; VIM
X. W. whitney, Baton Rouge, La, hereiI
represented by Sig. :. Levy of New Or
leans, La by power of attorney heret'
annexed sixteen (16) shares, all of which
shall he paid in cash.
Thus done and passed at my office IL
{ this city of New Orleans, Louisiana OIL
= the day, month and year hereinabOve frs
a Burns and Arthur Ryan, competent wit
= nesses, who hereuntO sign their names, to
= gether with the said appearers and me
D Notary, and the said appearers have ais
= set opposite their names the number o
Y shares subscribed by them, all after du
reading of the whole.
al tOriginal signed:
n. Jensen, II shares; ID. L. Dixon. l
. shares; W. Il. NJ. Whitney, by s. S. Levy
16 shares.
Witnesses: Francis p. Burns, Arthu
! Ryan.
L the undersigned. Recorder of Mort