The herald., 1918-03-28
CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY, NC

CHARTER
OF THE VERNON PARISH NAVAL
STORES COMPANY, INC,
United States of America, State of Lou
isiana, Parish of Orleans, City of New
Orleans.
BE it known, that on this ninth day of
the month of March, in the year OF our
Lord. One Thousand, Nine Hundred ana
Eighteen. and of the Independence of the
United States of America, the One Humid
red and Forty Second. Before me Charles
l. peneChaud, a Notary Public. duly com
misSioned and qualified, in and for the
Parish of Orleans. State of Louisiana.
therein residing, and in the presence OF
the witnesses hereinafter named and I'M
dersigned, Personally came and appeared,
the several persons whose names are mere
unto subscribed with their respective res
licences hereinafter set forth, and being OF
full age of majority, who severaily de-
clare. that availing themselves OF the pro.
visions of the laws and constitution OF
this State. relative TO the organization of
corporations, they have contracted and
agreed and do by these presents contract
and agree and bind. and obligate them
selves, as well such persons as may
hereinafter become associated with them,
to form and constitute body polite In
| Law, for the objects and purposes ana
under the agreements and stipulations
herein following which they adopt as
| their charter, to-wit:
| Article 1.-The name of this corporation
shall be, vernon Parish Naval stores
Company, Inc" and shall have corporate
| existence for the period of ninety nine
| (99) years from the date hereof, and shall
have and exercise for the purpose of the
business to be carried on by 1t, all the
powers conferred by law on similar cor
pOrations. including the power to make
| and use a corporate seal and the same to
break or alter at pleasure: to contract,
sue and be sued in its corporate name
to hold, own, receive, purchase, ALLEVIATE,
lease. convey, mortgage. hypothecate,
pledge, or otherwise cucumber property,
| both real and personal; to issue bonds,
| notes and other obligations, for the pur-
| pose of borrowing money, and to secure
| same by mortgage or otherwise, to name
and appoint such officers, managers, d.
| rectors. agents and other employees as
the interests of said corporation may re-
| quire, and to establish such bylaws,
rules anr regulations as may be necessary
| and proper to carry out and execute the
purposes of this corporation.
| Article 1.-THE domicile of this corpor-
| alton shall be in the City of Orleans, State
| of Louisiana, but it may establish and
| operate factories, offices and agencies,
wherever 1t may deem advisable. All cita-
| tons or other legal processes shall be
| served on the President of this corpora
ton or in the event of his absence or in
ability to act, upon the Nice-President.
Article III.-The object and purposes
for which this corporation is organized
and the nature of the business to be car
ried on by It are hereby declared to be
The general turpentine, naval stores and
lumber business in all its various
branches, and to that end to manufacture.
purchase and sell turpentine, pitch; tar.
rosin, naval stores and allied products
to acquire, own, construct and operate
lturpentine stills, saw-mills, planning mills.
driers and all machinery and appliances
necessary in connection with the opera
tion of said business and to manufacture
any products of wood such as sash, doors.
blinds, trimmings, boxes, furniture ana
articles of wood and its various by-pro-
ducts. And Furthermore, to own and OPP
crate in connection with said business
tram roads, logging roads. sailing vessels
steam vessels, and other water craft neces-
sary for the transportation or its mate
rial and products and also do a mercantile
business.
Article IV.-The capital stock of this
corporation is hereby fixed at the sum OF
Fifty Thousand Dollars $3.50. 0OOO0), di-
vided into Five Hundred (JO0) shares OF
One Hundred Dollars (s100.O0l each
which said stock shall be. paid for in cash
its equivalent in such manner and
amounts as the Board Of Directors may
ment OF property actually purchased and
! such stock so issued shall be full paid
and non assessable. All in conformity
and under the restrictions of the pres
emily existing corporate laws.
| This corporation shall be authorized Il
commence business and be a going con
Icern as soon as Twenty-Five Thousand
Dollars ($25.0O0.00) of its capital stock IL
4 subscribed for, which amount is hereby
declared to be subscribed. The shares
of stock shall be transferable only on thu
books of the corporation and no transfer
of stock shall be binding or have any eff
feet upon this corporation unless and un
I'll made upon its books and prior lier
on all shares of stock shall be retained
by this Company on the stock OF an!
!, shareholder for any Indebtedness secure'
or unsecured, however evidenced or ere
ated, due at any time to the Company b!
the holder of said stock and all transfer
of stock shall be made subject to thes
conditions.
The capital stock Of this Company ma!
be increased up to an amount of on
Hundred and Fifty Thousand Dollar
; (Sl5O,OO0) by vote of two-thirds (2-3
of the outstanding stock at a meeting o
stockholders called for that purpose, II
2 the same manner as provided for tn,
meeting to elect Directors. and there shall
= be given to the stockholders thirty go
days notice prior to said meeting. AM
said capital stock may be reduced to al
) amount not less than Twenty Five Thou
sand Dollars ($25.0O0OOl in the same man
I ner as above provided for the increas
! of stock.
Article VAN the corporate powers o
this corporation shall be vested in an
exercised by Board of four az Direc
: tors, who shall each be stockholder Il
this corporation, three (3) of whom shall
constitute a quorum for the transaction o
all business and majority vote at an,
! meeting shall decide all questions vote
upon.
= Said Directors shall be elected annuall
from the stockholders, on the first Tues
day in January in each year, after du
notice of said meeting shall have bee
, given to each stakeholder, sent by mai
, to his last known address at least ffteel
4 15) days prior to the holding Of SAT-
election. And all other meetings of stock
: holders, the stockholders must be notifie'
? in the manner above described at leas
ten (10) days prior 10 the holding of sucl
meetings. All other stockholders meet
ings, other than to elect Directors ma.
be held when ordered by the Board o
Directors or the holders Of twenty-five
lper cent (25qc) of the outstanding stock
; The President shall cali said meeting
! | and upon his inability or failure so to dc
: same will be called by a Vice President
At said election, and at all other meet
, lings Of the stockholders, the vote shall
be by ballot, and each share Of stock out
standing shall be entitled to one I'd vot
to be cast by the owner in person or b.