The herald. [volume] (New Orleans, La.) 1905-1953, 1919-01-30
CHARTERS


| buy, and sell, for its account, or for
account Of others, real estate, lands, tene-
| ments, tramways, water craft, mortgages
| mortgage notes, bonds, shares of stock and
| other securities; 10 lend money on property
| real and personal railroads, tramways,
| canals. water craft, bonds, stocks, and other
| securities; to lease, rent, or hire property
| make leases; TO act broker, agent or trus-
| tee, for individuals, firms or corporations;
| TO reclaim and improve landed property; to
lay out town lots suburbs, pave streets,
| sidewalks, and alleys; to put down sewer
| drainage, water and gas pipes, 10 connect
| with the municipal plants, for the sole
| use OF such Subdivisions, 10 erect poles and
| lay condults 10 support or receive wires Tor
electrical transmiSsIO TO construct or erect.
| or TO contract for the construction cree
! ton OF homes, tenements, stores or other
| residential. commercial or industrial build
| lngs, docks, water craft. ;ramways, rail
| roads. canals. workshops, horticultural and
| mechanical plants; 70 encourage the procur-
/ ing OF houses for all classes by selling same
| tor cash on easy terms OF payment. on in
stalments or on the homestead plan; and
generally, 10 do. and engage in any other
! shSIness, undertaking, or enterprise, CON
! nected with. growing out OF germ4ne in
| cIdental 10, any OF the purposes herelnabove
set forth. contemplated by this charter.
! corporation Is hereby fixed at Five hundred
and five thousand l$5O5.0OcM Dollars, con-
sistlng Of two different classes Of issue, one
/ thereof 10 be known as Preferred Stock and
the other Common Stock.
Section !: The amount Of said preferred
stock Is fixed at the sum Of Five Hundred
Thousand CS50o@oGO Dollars. divided into
Or represented by five thousand shares Of the
par value Of One Hundred Dollars each
| The preferred capital stock shall he entitled
by preference and priority over the common
stock OF the corporation to dividends in each
and every year at the ra,e Of seven per
cent per anuum payable ont Of the profits ::
such dividends shall be cumulative and linn
iieG 10 seven per cent per annum, and said
preferred stock shall he entitled to to, no other
or further share Of the profits. The whole
or any part q said preferred stock may be
called and retired at par. plus cumuIated
dividends 10 date OF payment, at any time.
provided that III case only part Of said stock
- called Tor retirement, the part to be SO
retired shall lie determined by lot a number
shall be placed in the ALLOTMENT for each
outstanding share OF preferred stock, and
from the total numbers thus collected. mum
Der or numbers equal 10 the number Of
shares to be retired shall be drawn by lot.
In the event Of any liquidation or dissolu-
ton or winding up. whether voluntary or in
voluntary, OF the corporation, the holders OF
the preferred stock shall be paid in full
the par value OF their shares. together with
all cumulated dividends thereon. at the
rate OF seven per cent per annum 10 the
date OF SAID liquidation. and after payment
to the holders of the preferred stock at its
par value with said cumuated dividends
the remaining assets and funds shall be d.
vIded and paid to the holders OF the common
shares. The Board Of Directors shall in
addition TO the foregoing, have the right. at
any time to buy in open market any OF the
! Preferred Stock at par. plus cumuated dvi-
dends thereon to the date Of purchase. In
the event this corporation through its Board
Of Directors shall acquire any Of the Pre-
1erred Stock IN the manner above set forth,
said board shall have the right to reissue
the shares so purchased or any part thereof.
at not less than par. and as said Board NAV
! from tune to time in its discretion deem ad-
| visable in the interest of the company.
Section ?: The common stock Of said cor
poration IS hereby fixed at the sum of Five
Thousand CS5,0O000 Dollars. divided into or
/ represented by Five Thousand shares of the
par value OF one dollar each and shall be
entitled to such dividends as may be de.
clared by the Board of Directors subject 10
the provisions OF Section /, hereof, and shall
he entitled to share in the assets and funds
scribed in Section l. hereof, and in no
other way. Separate stock books and stock
! registers shall be kept for each class OF
stock. The whole of said stock or any part
thereof may be issued and delivered TO anv
: person frm or corporation for the acquire.
= ment OF rights. privileges, permits, fran.
r chlses, property. servitudes. leases or any
part part. thereof or for investment in bonds
stocks, and other securities, also for cash
a or in installments OF such amounts as the
Board OF Directors may determine
n Section 8: The Board OF Directors shall
S nave authority to allow interest upon all in.
e rate OF seven per cent per annum from the
GATE such payments respectively made
: until the shares are fully paid and there
2 d d me shares shall be entitled to sucf
j dividends as may be declared out of Nh,
= earnings OF the Company in the manner here
e lnaboye set forth The said Board shall
5 also have authority to set aside from III,
from "''" Ebic ., Inc Company a special fune
d as occasion shall require or warrant
n Section 4: The capital of this corporation
may ma be increased to an amount not exceed
e and Ten Thousand Dollars of comm stocL'
: IN such manner and at such time as ma,
:, hereafter be determined or as may be per
i united or authorized by law
a ARTICLE V.--All the corporate nou,.-s -
: the company shall be vested in, and n,
! management and control of its affairs shall
:; De exercised by Board of Directors, com
posed OF three stockholders. which humble
d may be increased at such time or times
y winch may be deemed advisable. 70 NOT mo-
y man nine, at the discretion of the Road q
directors. A majority of the directors shall
= e eII b quorum for the transaction o
an business. The directors shall he eiec,
r 60 annually by ballot, by the stockholder
/ on the first Monday of November in eac,
= year. Each stakeholder shall be entitled
a sba1e o oUm OF oy proxy to vote for ever!
: ana an elections shall be held under sucl
lues ana regulations as may be determine
r 9y the Board of Directors but, after fiftee,
i, 80 ,o'ieC ny mail OF such election. shall
!, nave been sent to each stockhoIder AZ hi
! Iast. known address. The Directors thu
q elected shall continue in office for one vesr
II or until their successors shall have bes,
: duly elected and qualified No failure 70 eIec
!, = snail be regarded as a forfeiture of this char
Yer. Any vacancy occurring on said Roar,
snail be filled by the remaining directors 81
u the unexpired term: the said Board shall I;tc
a wise elect the additional members in cas-
: they should determine TO increase the MIN
!, Der OF the Board. as above provided Sal,
board OF Directors, shall, at it's first meet
= ing after its election nominate ont of i
number President. two Vice-Pres;de,,s
, | and a Secretary Treasurer. II NAV, J;y;d
. the, functions of the last mentioned off;re
and may even elect secretary who nee
De neither director nor stakeholder. Sal
= Board shall have the right to appoint an
- oIsmiss such clerks, managers. and othe
a. empIoyes OF the corporation including tn
: secretary who is not a stakeholder or dire
:, Tor as conditions may justify or the bushes
~ OF tne corporation may require The tenur
OF office of all the employees of the cornora
ton shall be during the pleasure of m
Board of Directors. VI I'll
AIlCLE VINO stakeholder shall ever h
held liable or responsible for the contract
faults, or debts of said corporation. nor sba
any mere infornaility in its organizatio
have the effect of rendering this charter MI
s. or OF exposing stakeholder to any liabilit
n. beyond the unpaid balance due on n
n shares owned by him.