The herald. [volume] (New Orleans, La.) 1905-1953, 1919-01-16
CHARTERS
stipulations following, to-wit:

CHARTERS
stipulations following, to-wit:
ARTICLE 1.-The name and title OF this
CORPORATION shall be Dunbar Warehouse
Tank Storage Company, Incorporated. And
| under its corporate name, il shall have power
! and authority to have and 10 enjoy cor
! porate existence for period OF rinety-nlne
years from date hereof, unless sooner DIS
| solved by liquidation or othergse 1t shall
/ have power to contract, 70 sus and to be
| sued; to make and use q corporate seal and
! to alter and break same at pleasure, TO hold,
! receive, lease, purchase, transfer, assign, CON
vey, mortgage, hypohccate, pledge, or other.
wise receive dispose OF property, real,
| personal and mixed, corporeal and lncoTpo-
! real, to issue bonds, and, II desired. to Sc
cure the same by mortgage; TO buy and hold
! stock in other companies incident to the
| objects and purposes or 70 the expansion OF
| the business interests OF the corporations; to
| name, elect and appoint such managers,
| agents. directors or officers as its business
interests may require, and to make and
| establish alter and amend its bylaws, rules
| and regulations for its proper government,
as may be deemed necessary and proper,
| and generally TO do any and all things Incl
dent to or necessary and proper. for the eX-
| tension of the business in which the cOrpo-
| ration is engaged.
| ARTICLE II.-This corporation shall be
| domiciled in the City Of New Orleans, in the
State Of Louisiana, and all citation or other
| legal process shall be served upon the PresI-
dent of the corporation, and in the event OF
his absence upon the Nice-President.
| ARTICLE III.-The objects and purposes
| for which this corporation is organized and
| created, and the nature of the business to be
| carried on by it are declared to be as toll
| lows: To carry on the business OF pub.
| lie warehouseman as defined by Act $50 OF
| 1888, and acts amendatory thereof and for
| the purposes of said business to have and
| enjoy all the powers. rights and privileges
| given and granted under the said acts; and IN
l s,;J hue oil
lease improve and construct, as well as es-
| tablish warehouse warehouses in the City
| OF New Orleans, or vicinity, State OF LOUIS
lana to conduct and carry. on such other
| convenient for properly effectuating the
| aforesaid purposes enhancing the value
of the properties, rights and privileges OF
| said corporation
| ARTICLE IV.-The capital stock of this
| corporation is hereby fixed at the sum OF
Five Thousand Dollars (S5,0O0OO), and shall
be divided into and represented by fifty
| shares OF the par value OF one hundred dol
lars each. Said stock shall be paid for
| in cash its equivalent, as provided by
law and in such manner and at such times
| and in such installments as may be pre-
| scrbed by the Board of Directors. This
corporation shall become a going concern and
| shall be authorized to commence business
| when Twenty-Five Hundred Dollars of its
capital stock shall have been paid for
either in cash or its equivalent, as provided
Dollars of the capital stock has in fact been
subscribed for.
ARTICLE V-The capital stock of this cor
poration may be increased to the sum of
Fifty Thousand Dollars, by two thirds vote
of all the stock at special meeting, called
for that purpose, or at a regular annual
meeting of the corporation.
ARTICLE VI.-All certificates of stock is
sued by the Company shall be signed by the
President and counter-signed by the Vice
President, or. if authorized by resolution of
the Board of Directors, shall be signed by
the President and counter-signed by the
Secretary Treasurer. The stock of this cor
poration can be transferred only the
books OF the corporation and subject to such
regulation and formalites as may be by the
Board Of Directors from time to time pre-
to sell or otherwise dispose Of his stock,
without first offering the same in writing
to the other stockholders, through the Board
OF Directors, at price not exceeding the
book value thereof, and the stockholders
shall have option and first right to pur-
chase all the shares of stock to be thus
disposed of by sale. by the death, resig-
nation or otherwise of any of the
have period of ten days in which to
accept or decline such offer Of stock. Should
the Board of Directors the stockholders de-
cline TO purchase said stock, then the stock
! holder or stockholders who made the offer
TO sell otherwise dispose of the stock,
may sell otherwise dispose of it in any
, manner and at any price that he they
may see fit. But each share of stock is
issued under the condition and understand
, ing that stakeholder shall make sale
or transfer of his stock in violation of this
provision; and such sale or transfer, if made
shall be void and this Company shall be
under no obligation to list said stock on its
, books or to regard the holder of the certifi-
! cate thereof.
ARTICLE VII-The corporate powers OF
: this corporation shall be vested in and ex.
err SRA hv ard NJ cd
: of three stockholders, two of whom shall
constitute quorum for the transaction OF
business. The Directors of this corpora
; ton may vote in person or by, proxy al
any of the meetings of the Board of Drec
! tors; and the Board of Directors may dele
2 gate any of its powers to any officer or Of
ficers or any other representative of the
Company by appropriate resolution to thai
effect. The first Board of Directors oil
this Corporation shall be composed of Eman
? uel Samuels, Solomon Brown, and Sim. H
LOwenburg, with said Emanuel Samuels a:
President Solomon Brown, as Secretary
5 President and they shall serve until the
e second Wednesday in January. 1920. or un
til their successors are elected and quail
fled: The Directors shall be elected an
nually by the stockholders at a meeting
held on the second Wednesday in January
in each year thereafter. Notice of sucf
meetings shall be given ten days prior t.
the date OF the meeting, in writing, anC
$ sent to each stakeholder at his last known
Y address. Each stakeholder shall, at such
{ annual meeting other meetings, genera
$ or special, be entitled in person or By
proxy, to one vote for each share of stool
' owned by him. Elections shall be held
under such rules and regulations as may from
time to time be determined by the Boarc
of Directors. The Directors when elected
shall hold office for one year. or until thei
successors shall have been elected and quail
fled; and failure to hold the annual meet
ing OF stockholders or to elect annually thu
Directors, shall not operate the forfeiture
OF this charter or any rights Hereunder
Any vacancy occurring in the Board of Di
rectors may be filled by the Directors TO
the unexpired term.
ARTICLE VIII-Ths charter or act o
Incorporation may be changed modified al
tered or amended by and with the consen
of two-thirds of all the stock present at an
meeting, general or special, held for tina
purpose; and such amendments may be ma
terial or immaterial subject only TO limita
ton as may be by law provided; and thi
e corporation shall have the power to increas
= or decrease its capital stock as hereinbefor
e set out, and any increase in the capita
o stock in excess of the amount named hercir
:, as the amount TO which it may be ncreas ed
|, may be made by three-fourths vote of al
e outstanding stock
= ARTICLE IX-Notice of any and all NEE,
# ings referred to in this charter or require
j. by law, shall be given in the manner pro
/ vided in giving notices in case of election
| ,,rlas he cLa1