The herald. [volume] (New Orleans, La.) 1905-1953, 1918-01-10
CHARTER.

I
herewith arising therefrom or incidental
thereto, and all acts proper or necessary for
the purposes of the business.
Section !: To own, lease, acquire or oper-
ate public warehouse warehouses for
storing and caring for such commodities as
may be handled.
Section 8: To borrow money and TO pledge,
mortgage or hypo,hecate property therefor,
and to loan money security otherwise.
In fact, to do all things necessary OF Incl
dental to carrying on a general brokerage
business as herein contemplated.
Article IV.-The authorized capital stock
of this corporation is hereby declared to be
the sum of Twenty Thousand Dollars (S2O.
0O000) which capital stock may be increased
in the manner provided by law, to the sum
of One Hundred Thousand Dollars $780,
10000. The presently authorized stock of
this corporation shall be represented by two
hundred 600 shares of the par value of One
Hundred Dollars $4,000 each. The said
capital stock shall be represented by certi-
Gates and shall be personal property. No
transfer of said stock shall be binding upon
this corporation unless made in accordance
with its charter and bylaws and recorded
on the books thereof
The capital stock of this corporation shall
be fully paid and worcestershire when is
sued, and shall be issued only for labor
done for property actually received or
| for cash to be paid at such times and in such
amounts and after such notice may be
determined by the Board of Directors.
ration shall be vested in and exercised by
a Board of three 90 Directors, each of whom
shall hold, in his own name, at least one
| % share of stock. Said Board of Directors
shall be elected annually on the second
| Tuesday of January of each year, the first
| election to be held in the year 1919. All
such elections shall be by ballot at the Office
of the corporation, under the supervision of
one commissioner to be appointed by the
board of directors and in the absence Of any
commissioner the President shall have power
to fill the place by appointment. Notice of
all such elections, well as of all meet
| ings of stockholders, except for the purpose
| of liquidation or dissolution or as otherwise
required by law, shall be given fifteen Q5)
days prior thereto by mailing to each stock
holder who appears as such on the books
of the corporation at his last designated ad-
| dress or at the general delivery at New
Orleans, II he has not designated adj
dress, an announcement stating the time, the
place and object of the meeting. Each stock
holder shall be entitled to one vote for each
share of stock standing in his name on the
books of the company, to be cast in person
or by proxy and a majority OF the vote cast
shall elect. The board of directors shall have
power to fill all vacancies that may occur
in the Board Failure TO elect directors
the day above specified, shall not dissolve
the corporation, but the directors then in
Office shall remain in Office until their sue
cessors are elected and qualified The Board
of Directors at their first meeting following
! each annual election shall elect from their
d
a Secretary Treasurer and such other officers
as the Board of Directors shall deem necessary.
The Board shall have power in its discre-
ton to unite two or more Offices, and the
same to confer upon one person, and shall
have power to fix the salaries of all officers
and all such other officers and employees as
they deem necessary. The Board of Direc-
tors shall have power to make and establish
| as well alter and amend, all bylaws, rules
and regulations necessary and proper for
| the support and management of the business
and affairs of said corporation, not incon-
| sistent with its charter.
A majority of the directors shall constitute
| a quorum for the transaction of any bust
ness. AT any meeting of the board, any
| director absent from the meeting may be
| represented by any other director, who may
cast the vote of said absent director according
| to the written instructions of said absent
| director. The board of directors shall have
the power by vote of not less than a
majority thereof, to sell, lease, mortgage, by
bond, mortgage, or otherwise, or to pledge
| and and all of the property, movable or
| immovable belonging to the corporation to
| receive in exchange therefor, moner or stocks
| or bonds other obligations of another
| corporation without referring to the share.
holders for the power to do so; and they
may also purchase for stock in this cooperation
or for cash, or any of the purposes of this
corporation, without authority Of the share.
holders.
Until the next general meeting to be held
under this charter on the second Tuesday in
January 1919, or until their duly qualified
| successors elected and installed, the
board of directors shall be composed of:
Chaille P. Sims, whose post-offce address
| is Adeline, La; William F. Giles, whose
p9st.ofice address is Adeline, La; Edith
V; Gammell. whose address is sol Canal Bank
P. Sims as President. William F. Giles as
Vice-President and Edith V. Gammell as
Secretary Treasurer.
Article VI.-This charter may be amended
Id av,1 Il l. r -,
may be increased or decreased, this cor
poration may be dissolved in the methed
and manner provided by law.
Article VII-No stakeholder of this cor
poration shall ever be held liable or respon-
sible for the contracts or faults of this
corporation in any further than the
unpaid balance on the stock for which he
has subscribed, nor shall any mere infor
mality in organization have the effect of
| rendering this charter null or of exposing
stakeholder to any liability than as above
provided.
Article VIII.-Whenever this corporation
shall be dissolved, whether by limitation or
from any other cause, the affairs thereof
shall be liquidated by three ~ stockhold
ers to be elected and qualified in the man.
IN e by aT A bs Se shall al 6.
corporation shall have been fully settled and
| liquidated. In case Of the death of one of
| the liquidators his refusal or inability to
serve. the remaining liquidators may fill the
themselves proceed with all power and au-
| thority vested in the full membership.
And the signers hereto declare that they
have affixed opposite their names the number
Of shares subscribed by them and they here
by declare this to be their subscription list
Thus done and passed, in my Office at the
city of New Orleans, La. on the day, month
and year herein first above written in the
presence of Gertrude Cowan and May Lorio,
competent witnesses who hereunto sign their
names with the said appearers and me, No
tary, after due reading Of the whole.
c. P. Sims, Adeline, La, IS shares, $4,000
w. F. Giles, Adeline. La, rs shares, $4,000
per c. p Sims, Edith v. Gammill, sol
Canal Blk. Annex. rs shares, 10000, A.
S. Baker, by Edith V. Gammill, rs shares
S. 5000.
} Witnesses: Gertrude Cowan, May Lorio
HENRY G. BLOCH, Notary Public
/, the undersigned Recorder Of Mortgages
in and for the Parish of Orleans, State Of
Louisiana, do hereby certify that the act Of
Incorporation Of the Terminal Grain
Company, Inc" was this day duly recorded
in my Office in Book 1919. folio =.
New Orleans, Louisiana, December IS, 1917
, (Signed) EMILE J. LEONARD
by. Recorder
A true copy.