The herald., 1919-07-24
CHARTERS.
CHARTER OF LIGHTNING CHEMICAL
COMPANY INCORPORATED.

lOI Tic uuOilll VI l8hNs III AiC yea VI pdA
Lord one thousand nine hundred and nine
teen, and of the Independence of the United
States of America, the one hundred and
forty-third; before me, Arthur A. Moreno:
a Notary Public, duly commissioned and
qualified, in and for this City and the Par
ish of Orleans, therein residing, and in the
presence of the hereinafter named under
signed witnesses, personally came and ap-
peared the following persons whose names
are hereunto subscribed together with the
amounts of their respective subscriptions to
the capital stock of the corporation to be
formed, who severally declare that, avail
ing themselves Of the provisions of the gen.
eral laws of the State of Louisiana relative
to the organization OF corporations, they
have covenanted and agreed, and do by
these presents covenant and agree, and bind
and obligate themselves, as well as such
other persons as may hereafte- become as
ISOLATED with them or their successors, to
form and constitute themselves into a cor
po~ration and body polite in law, and for the
objects and purposes and under the agree
merits and stipulations following, to-wit:
ARTICLE 1.-The name and title of this
corporation shall be the Lightning Chemical
Company, incorporated, and by that name
said corporation shall have power and au-
thority to have and enjoy succession for the
full term of ninety-nlne years from the date
hereof; TO contract, sue and be sued; to bor-
row money; to make and issue its negotiable
promissory notes or other evidences of in
debtedness; to create debts; TO make and
use a corporate seal; to purchase and re-
ceive, lease, hold, sell and convey, as well
as mortgage and hypothecate, property, real,
personal and mixed; TO name and appoint
such officers and agents as the interest of
said corporation may require; and to make
and establish such bylaws and regulations
for the proper management and regulation
of its affairs as may be deemed necessary,
and the name to change, alter and amend at
pleasure.
ARTICLE 1.-THE domicile of this cor
p~oration shall be in the Citv OF New Or
| 1sapS pariSb of nriaaDS apI all r;+,+;o,c
and other legal process shall be served upon
the president of said corporation, or in case
of his absence, upon the vice President, or,
hi case of the absence of both of these of
ficers, upon the secretary thereof.
ARTICLE lIL-The objects and purposes
for which this corporation is established, and
the nature of the business to be carried on
by it, are to buy, manufacture, compound,
sell, handle and otherwise deal in all xmas
of chemical products; to do all things Incl
dental to said business; and TO employ and
use such means and nstrumentalities as
may be useful, necessary or convenient for
the conduct OF the affairs and business OF
this corporation.
ARTICLE IV.-The capital stock of this
corporation shall be Five Thousand G5,OOO.OOJ
Dollars, divided into fifty $50 shares OF
the par value, of $1,000 each. and may be
increased to the sum OF Twenty-Five Thou.
sand ($25,OOOOO Dollars, divided into Two
hundred fifty ESQ shares of the par value
OF $1,000 each, and this corporation is to
" a koAAk III Will - VI Lie
capital stock has been subscribed Tor. Each
snare OF stock shall be entitled to one vote
either in person or by proxy, at all general
elections or meetings Of stockholders.
Should the capital stock Of this corporation
ever be increased over the sum of Five Thou
sand $5,OO0.O0 Dollars, then such additional
shares of stock that may be issued shall first
be offered to the holders of stock at the
time of issuance a. the book value Of said
new stock in the proportion in which the
said stockholders shall at the time of is
suance hold stock in this corporation.
ARTICLE V.-No stakeholder shall ever be
Held liable or responsible for the indebted
ness, faults or defaults of this corporation,
nor shall any mere informality in the or
ganization of the corporation have the effect
OF rendering the charter null or of exposing
the stockholders to any liability beyond the
unpaid balance, if any, on his stock sub
scription. Should any stakeholder desire to
sell his stock, he shall first offer the same
to the stockholders of the company at its
and the stockholders who desire to purchase
shall have the right to purchase the same
IN the proportion TO their holdings of stock
in the company. Should said stockholders
given, in writing, fail or refuse to purchase
the stock offered for sale, such stock may
be sold TO any one. No transfer of stock
shall be made or held to be valid and bind.
ing unless made in pursuance of the pro-
visions of this charter.
ARTICLE V1.-This corporation shall haze
all powers granted to such corporations by
law and shall have the power to contract
sue and be sued in its corporate name, and
to own, hold, receive, loan, lease purchase,
sell and convey or mortgage any and all OF
its effects or to hypothecate its property
and to do any and all acts and things of any
be necessary to carry out the objects and
purposes of said business as its interests and
conveniences may require.
ARTICLE VU.-The business of this cor
4 nraf1nn ha1 h 1890
a board of directors of three members, two
OF whom shall constitute a quorum for the
transaction of business, and the said direc.
tors as first constituted shall be John T.
and they shall hold office until the frs,
Tuesday in May, 1920, and on that day and
on the same day thereafter, elections shall
be held annually for the directors at the
principal office of the corporation. Failure
to hold an election on the day specified
shall not dissolve the corporation, but the
directors in office shall hold their respec.
tive offices until an election shall be held
after thirty days notice of the time and
place thereof given to each stakeholder. The
annual election shall be held on the first
Tuesday of May, 1920. and thereafter on the
first Tuesday of May of each succeeding
year. and the election shall be held between
the hours of ten and twelve a. M All va
cancies on the board of directors for what.
ever cause shall be filled by the remaining
directors. John t. Logan shall be the first
lpIcslueHl, JOnn DAVIDSON snail be the first
vice-president and John D. Bailey shall be
the first ecretary-treasurer. and they shall
hold office until the first Tuesday in Nav,
1920, or until their successors are elected
and each succeeding board of directors shall
elect its principal officers for the term OF
their election and only stockholders shall
be eligible for election as a member of the
board of directors. Directors may act either
IN person or by proxy.
ARTICLE VI1I-Whenever this CORPORA.
ton is dissolved, either by limitation or fol
any other cause, its affairs shall be liuui.
dated by the board of directors. who ara
hereby vested with full power to sell any
or all assets of the corporation, either sepa.
rately or in a mass, and to convey full and
complete title thereto, and shall have full
power to do and perform all acts neces.
sary and proper to fully and completely Ii
quidate the affairs and distribute the pro
ceeds, if any, among the stockholders of the
said corporation TO the amount of stock held
by each.
ARTICLE IX.-This act of incorporate
may be amended, altered and modified OF
this corporation dissolved in the manner pro.
vided by law.
Thus done and passed, in my ~notarial of
tice, IN the City of New Orleans, on the
the presence of Azelie Bennett and Ruth
M. Seller, competent Witnesses, who have
hereunto signed their names, together witt
the parties hereto and me, Notary, after =
reading OF the whole.
Seller.
Original Signed John 7. Logan. 2.
shares, Texarkana. Ark; J. d.. Bailey. ..
shares, SO Carondelet St, New Orleans. la