The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-16
CHARTERS


Be it known, that on this Fifteenth day OF
the month Of May, in the year one thousand
nine hundred and eighteen, before me. VIII
liam Waller Young, Notary Public, in
and for the Parish Of Orleans State OF Lou
isiana, duly commissioned and qualified and
in the presence OF the witnesses hereinafter
/ named and undersI gned personally came and
APPEARED, the several persons whose names
/ are hereuntO subscribed, all above the full
. age OF majority, who Severally declared that,
| avaling themselves OF the laws Of the State
OF Louisiana, and especially the laws rela-
tive 10 the organization OF corporations, they
have covcnantcd and agreed TO bind, form
4 and constitute themselves, as well as all
such other persons as may hereafter JON
or become associated with them, into a cor
poration and body polite in law. for the
! objects and purposes and under the articles,
agreements and Stipulations following, to-
| VIII:
! ARTICLE 1.-The name. style and title OF
| this corporation shall be Coate Bros, Inc,
| and, under that name II shall have and
enjoy all the rights. advantages and priv,
! eges granted by law 20 corporations. and
| shall exist for the full term and period OF
/ ninety nine years, from this day. 1t shall
/ have power to contract sue and be sued; TO
make and a corporate seal, and the
same to alter and break at pleasure; TO hold
receive. lease. purchase. sell and convey, as
well as mortgage, hypothecate and pledge
| property. real, personal and mixed. corporeal
and incOrporeal; to name and appoint such
/ managers, directors, officers, agents and other
/ employees as its interests and convenience
| may require, and to make and establish as
| well as alter and amend from time 10 time,
/ such bylaws, rules and regulations as may
he necessary and expedient for the proper
management and government of the affairs
! OF said corporation.
ARTICLE 1.-THE drmicile of this oorpo-
ration is hereby fixed in the city of New
Orleans, State Of Louisiana. and all cita-
items or other legal process shall be served
upon the president OF said corporation, or,
in his absence, upon its secretary, or, in the
event of the absence of the secretary. upon
the treasurer.
ARTICLE III-The objects and purposes
of this corporation and the nature of the
business to be carried on by il hereby
declared TO be to buy. sell, export and I'M
port any and all merchandise of every kind
ard character, whether on commission or as
merchants dealers; to act as forwarding.
exporting. importing and financial agents;
to establish and conduct warehouses and to
do all kinds Of commercial, brokerage and
commission business; and IN connection
therewth. to own. hold, lease, buy, sell or
otherwise acquire real, personal and mixed
property of all kinds; with the right and
power to do any and all things necessary
or connected with or in any manner Incl.
dental or complementary to the objects and
purposes herein set forth.
ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum of
ONE HUNDRED THOUSAND DOLLARS
(slnOOO0 to be divided into and repre-
scented by one thousand Q,OOO shares in
the sum of one hundred dollars $4,000
each. said stock shall be paid for in cash
The capital stock of this corporation may
be increased to the sun. of FIVE HUNDRED
THOUSAND DOLLARS (S5OO0OO.O0.
ARTICLE Wall the corporate powers of
said corporation shall be exercised by a
board of directors consisting of five stock
holders, a majority of whom shall constitute
a quorum for the transaction OF business.
The Board of' Directors shall elect annu-
ally from their number a president, vice.
presidents, a secretary. and a treasurer. The
first board of directors shall consist of five
stockholders and shall be composed of
Charles B. Coate. Harold W. Oliver, James
NJ. Beley, Malcolm B. Coate and Fred w.
Coate. with Charles b. Coate as President.
Harold w. Oliver and James NJ. Beley, as
Vice Presidents. Frederick w Coate as sec
rotary, and Malcolm b. Coate as Treasurer.
The post office addresses of all of said
directors are as follows: Charles b. Coate.
New Orleans, louisiana: Harold w Oliver !
Houston, Texas; James NJ. Beley, Memphis, !
Tennessee; Malcolm B. Coate, New Orleans,
louisiana; Frederick W. Coate, Memphis, !
Tennessee.
These directors and officers shall serve
until the first Wednesday of SEPTEMBER, 1918, |
or until their successors have been duly |
of stockholders for the election of directors !
SHALL be held on the first Wednesday of |
September of each year, unless said day be /
a legal holiday, and then on the next bank !
day thereafter Each subscriber hereto sets |
after his name his post-office address and a |
statement of the number of shares of stock /
which he agrees to take the corporation. |
AT all elections, every stakeholder shall be |
entitled TO vote for each share of stock /
standing in his name the books of the |
corporation, TO be cast in person or by his |
written proxy. A majority of the votes cast
shall elect.
ARTICLE Win the event OF the liqui-
dation dissolution of this corporation the |
stockholders shall elect thyee liqudators !
from among their number at meeting con
vened for that purpose, after fourteen Q4 !
days written notice sent to each stakeholder
by mail to his last known address; said liqui-
dators shall have the authority to wind up
the business and affairs of this corporation.
In case of the death of a liquidator the
survivors shall appoint a stakeholder as sue
cessor to him.
ARTICLE VII-This charter may be modi-
fled, changed altered or said corporation
may be dissolved, with the assent of stock
fourteen Q4) days written notice shall have
tai stock, at a general meeting of the stock
holders convened for such purpose, after
fourteen "a days written notice shall have
been given TO each stakeholder mailed to
him at his last known address.
ANl1OI>E Nlll-NO subscriber tor stock
shall ever be held liable for the contracts
faults or debts of said corporation in any
further sum than the unpaid balance, if any.
due the corporation on the stock for which
he has subscribed; nor shall any stockholder
ever be held liable for such contracts, faults
Dr. debts in any further sum than the unpaid
if any, on the stock owned by him:
nor shall any mere informality in organi-
ration have the effect of rendering this
charter null, rendering any subscriber or
stakeholder liable beyond the unpaid amount.
i any, remaining due on his stock.
ARTICLE IX-Ths corporation is orga.
1zed under the laws of the State of Louis
ana, and especially Act No. 267 of 1914, and
he subscribers hereto, for themselves and
said corporation, and for its officers, direc-
ors and stockholders, hereby accept, as part
IF this charter and conditions of this cor
Doratlon, all the rights, powers privileges
Ind immunities granted to corporations, and
granted to and conferred upon officers, di-
ectors and stockholders of corporations by
'aid laws and said act; such acceptance be-
ng as full, complete and binding as if said
tights. powers, privileges and inSnunities
we're set forth at full length in this instru.
nent.
Thus Done and Passed in my Notorial Of |
ice at the City of New Orleans, aforesaid
n the presence Of George II. Terriberry, and {
homas Joseph Dobbns, competent witnesses
4 lawful age and residing in this city, who {
lereunto subscribe their Names together with
aid parties and me. notary, on the day and {
late set forth in the caption hereof.
Original Signed: Geo. II. Terriberry; T. !.
|. Dobbins.