The herald. [volume] (New Orleans, La.) 1905-1953, 1919-10-09
CHARTER OF D. v. JOHNSTON COM
PANY, INC.

United States of America, State of Louis
lana, Parish of Orleans. City OF New Or
leans. BE it known, that on this twenty
third day of the month of August, in the
year one thousand nine hundred and nine
teen, before me, Henry P. Dart, Jr., No
tary Public duly commissioned and sworn
in and for the Parish of Orleans and City
of New Orleans therein residing, person
ally came and appeared the persons whose
names are hereunto subscribed, who declared
that, availing themselves of the provisions
of the laws of the State, relative to the or
ganization of corporations they have cove
nanted and agreed, and do by these pres
ents, covenant and agree, bind, FORM and con
sttute themselves. as well as such other
persons who may hereafter join or become as.
ISOLATED with them, into a corporation and
body polite in law for the objects and pur-
poses, and under the agreements and stipu-
lations following, to-wit:
ARTICLE 1.-The name and title Of this
corporation shall be, D. V. Johnston Com
pany, Incorporated, and under its corporate
name it shall have and enjoy existence and
succession for the term of one hundred years
from this date, and all the rights, advantages
and privileges granted by law 10 corpora.
tions, including power to contract, sue and
be sued in its corporate name; 10 make and
use corporate seal. and the same 10 break
and alter at pleasure; TO hold, receive, pur.
chase, convey, mortgage, hypothecate, and
pledge property, real and personal; to ISSUE
bonds, notes and other obligations; 10 have
and employ managers, directors, officers,
agents and other employees, as the inter
ests and conveniences of the corporation may
require; and 10 make and establish such COM
mittees and to create such bylaws, rules
and regulations for the corporate management
and for control of the affairs of said corpo-
ration may be deemed necessary and ex-
pedient
ARTICLE 1.-THE domicile of the cor
po-aton shall be the City of New Orleans.
State of louisiana. Citation and other legal
process shall be served on the President, or
in his absence inability 10 act from any
cause whatsoever, upon a Nlce-Presldent or
the Secretary-Treasurer.
ARTICLE III.-The objects and purposes
Of this corporation are 10 engage in gen
eral brokerage business in building materials
and accessories thereof; to deal and operate
on commission or otherwise, in lumber,
bricks, sand. cement, stone, gravel and gen
orally all materials used in the construction
and erection of buildings and other structures.
To own, operate and conduct buildings, mills,
machinery, tools and appliances for the uses
and purposes of the business and the same to
change, alter, substitute, sell and hypothe-
cate at will; and generally TO do and per-
form all things needful. necessary. proper or
useful for the accomplishment of the pur-
poses of the corporation. The whole in the
| State of Louisiana, the States, Territories
and Possessions of the United States. and in
| foreign states and territories, with the right
| to have offices and places of business and
| representatives in any or all of the same.
| A change of the objects and purposes of this
corporation may be made by the vote of all
the stockholders at meeting called for that
purpose.
ARTICLE Iv.-The capital stock of this
corporation shall be Twenty Thousand (s20,.
OOOO Dollars, divided into Two Hundred
| 600 shares of the par value OF $1,000 each;
which said stock shall be paid for in cash.
The capital stock may be increased to Fifty
thousand (s50oOO.O0 Dollars. by a vote of
two-thirds of all of its stock at a meeting
of the stockholders called for that purpose.
N No stock shall be sold or transferred
until opportunity is first afforded all
other stockholders of record to purchase said
shares of stock at book value as shown by
the inventory preceding such notice; written
notice shall be given by the owner to the
Board of Directors for the use and benefit
of such other stockholders; il shall be trans
mitted without delay by the Board TO them
and must be accepted within thirty days
| from receipt of the Boards notice and paid
for in cash within ninety days from. such
notice. The stockholders shall have the
right to buy said shares in proportion to
their holdings and any shares not taken in
proportion may be taken by the other share
holders. Failure of the stockholders to buy,
shall by the mere expiration of the time
| limit, release the stockholders from the et-
| feet of this provision.
| (2) Whenever any stakeholder whose hold
Ings together with those of his surviving
wife children, if any,. shall aggregate
| twenty per cent or more of the capital stock
Of this corporation, shall die, his successors
heirs or legal representatives will have the
right to tender the whole of the stock OF
this corporation owned by said decedent and
Ibis surviving wife or children, if any, to
be purchased by the surviving stockholders
at the price set out in the first paragraph
hereof It shall be the duty of the Board
of Directors to submit the Said offer to the
stockholders, and il within the time here
nabove prescribed, the offer shall not be
A. ead han he
said successors, heirs or legal representative
shall have the right TO demand the disso.
luton and liquidation of the corporation and
| in default TO apply to any court of competent
jurisdiction for dissolution of this corpora
ton and the liquidation of the same. any
| law to the contrary notwiths 'anding. saving
always, however, the right to the said cor
poration in answer to said proceedings. to
dissolve and liqudate in the manner pre-
scribed by the law of Louisiana.
| 81 No stock shall be held in this corpora
ton by employees. who are not officers, ex-
cept such as has been subscribed for in this
charter or which may be transferred with
the consent of the Board of Directors to such
employee at the time of or during employ
ment Whenever such employment ceases
through death, resignation, dismissal or other
wise. the Board of Directors shall call the
stock of that person for transfer to the
other stockholders as provided in this char
1 ter, but the price to be paid shall be book
value as per inventory last preceding such
CALI the said price shall be paid in cash
within sixty davs from such call. No stock
| held or controlled by such employees shall
participate in any new stock hereafter au-
thorized and issued in any stock hereafter
to be issued when sold under the precedin
provisions. unless with the consent of the
Board of Directors expressed by resolutions
entered on the minutes. For the purposes
of this Article, the inventory and books shall
| be closed as of June 80 and December 81. in
each year. from and after December 81. 1919
The substance of the foregoing provisions
shall be stated briefly and succinctly in or
on the face of each certificate of stock and
this shall be conclusive evidence and notice
to all persons dealing Herewith The Board
of Directors is hereby constituted the agent
of the stockholders for the purpose of enforc-
ing and carrying out the foregoing provisions
ARTICLE Vail the corporate powers vest
ed by law this Charter in generations
shall be exercised by the Board of Directors
of this corporation. including the right &c
manage, control and direct the affairs of the
corporation, the corporate policy, and &c
another corporation, and to take in payment
of any such sale or merger. cash, bonds
notes stock of the purchasing or merging
corporation, or of a new corporation. created
for the purDose, without the necessity Of
referring either or any of said acts to the
stockholders.
The Board Of Directors of this corporation
shall be composed of four stockholders, who
shall be elected Immediately after the sign
ing of this charter, and without further for
mality or delay, to hold office for one year
and until their successors are elected anc
qualified. On the first Tuesday in lam