The herald. [volume] (New Orleans, La.) 1905-1953, 1919-06-26
CHARTER OF JAHNCKE DRY DOCK 8
SHIP REPAIR COMPANY, INC.

United States OF America, State OF Louis
lana, Parish Of Orleans, City OF New Or
| leans. Be it known, that on this 9TH day
of the month of March, in the year one
| thousand nine hundred and nineteen, before
me, Henry p. Dart, Jr, Notary Public, duly
| comm ssioned and sworn in and for the Par
ish of Orleans and City OF New Orleans,
therein residing, personally appeared the
scrbed, who declared that availng them
| selves OF the provisions OF the laws OF the
State, relative to the organization OF cor
porations they have covenanted and agreed;
agree, bind form and constitute themse Ives,
as well such other persons who may here
after join or become associated with them,
into a corporation and body polite IN law
for the objects and purposes and under the
agreements and stipulations following, to-
wit:
ARTICLE 1.-The name and title Of this
corporation shall be Jahncke Dry Dock &
Ship Repair Company, Inc, and under tins
name it shall nave and enjoy all the nights,
advantages and privileges granted by law
TO corporations; it shall exist for a period
of ninety nine years; it shall have power TO
contract, sue and be sued in Its corporate
name; to make and use corporate seal, and
the same to break or alter at pleasure; 10
hold, receive, purchase, convey ,m9r'gage;;
hypothecate or pledge property, both real
and personal; to issue bonds, notes, and other
obligations; to have and employ managers,
directors. officers, agents and other EN-.
ployees, the interests and convenience OF
said corporation may require; and to make
and establish such bylaws, rules and regu-
lations for the corporate management and
control of the affairs of said corporation, as
may be deemed necessary and expedient
ARTICLE 1.-THE domicle of said cor
poration shall be in the City OF New Or
legal process shall be served on the presi-
| dent, and in his absence, on the vice-presl-
dent In case of the death OF the preside
of this corporation, or IN the event OF ms
inability TO act as such, his duties and tune
tons shall devolve upon and be fulfilled by,
| the vice-president.
ARTICLE III-The objects and purposes
for which this corporation is organized and
| the nature OF the business to be carried on
by it are hereby declared to be: 10 con-
struct, purchase, charter, lease, hire or other
wise acquire, and to mann, equip, MAINTAIN
and operate, steamships, steamboats,, tow
boats, ferry boats, sailing vessels, barges
and other water craft of whatever descrlp.
ton, for transportation and towage OF
freight and passengers for hire, and to en-
gage in a general transportation business,
upon and between places on rivers, lakes,
bays and other waters and upon the high
| seas, and to ports and places IN foreign
| countries, ana to carry on a general express
| business in connection with the operation OF
said vessels; to construct, purchase, lease,
| hire or otherwise acquire warehouses, land
ing places, canals, docks, wharyes, and other
| facilities and to improve navigation or NV
| ers, bayous, and other waters, as the busi-
ness of Abe company may require; to con-
| struct, hire, lease otherwise acquire and
| to operate dry docks and floating docks
| suitable for handling and repairing vessels.
and to build, rebuild and repair vessels of
| every description; to construct, purchase,
| hire, lease or otherwise acquire, and to
operate on land, omnibuses, automobiles,
trucks, teams and vehicles of every nature
and description for the transportation OF
| freight and passengers, to and from the
landing places of the vessels operated by
| said company, and such other points as the
Board of Directors may from time to time
| determine to be necessary for the business
of said company; and generally to do and
perform all things germane as incidental to
| or usual in the business and affairs herein
above authorized.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum of
two hundred and fifty thousand dollars
(s250,0OO.00) divided into two thousand five
| hundred shares of the par value of one hun
bred dollars each, which shares shall be paid
| for in cash or in the purchase of property,
and the said capital stock may be increased
TO the sum OF one million dollars additional
| All shares of stock shall be full paid and
worcestershire. No transfer of stock shall
be binding upon the corporation unless made
upon it's books and all certificates of stock
| shall be signed by such officers may be
| designated by the Board OF DlrectOrS All
stock in this corporation shall be held upon
| condition precedent and under contract and
| agreement in the nature of vested rights
that all such stock is so held and possessed
subject to the rules and provisions for the
| transfer of same hereinafter set out, to-wit:
| % No sale or other transfer OF shares
of stock in this corporation shall be valid
until and unless the opportunity has been
first afforded the stockholders of record at
| the date OF such transfer sale or other allie
nation to purchase such stock at book value
plus twenty-five per cent, the value to be
| ascertained in the manner herein prescribed
1.-The right to acquire said stock hereby vest
| ed in the other stockholders of record shall
follow the stock into any hands to which 1t
may pass and may be exercised against the
holders thereof within ninety days from the
| time any sale or transfer has been offered
| to be entered on the books of the corpora
ton 1t shall be the duty of any holder
| of stock in this corporation who intends or
desires to sell, transfer, ALLEVIATE or otherwise
dispose of same to give ten days written no.
| tice of such intention or desire to the Board
! of Directors of the corporation, who are
hereby constituted agents of the said stock
holders for the purpose OF such notice and
said Board of Directors shall give immediate
| information thereof, in writing, to all the
other stockholders of record. Before the ex-
piration of the ten days from the receipt OF
said notice by the Board of Directors any
shareholder of record may offer to purchase
and may acquire the right to purchase, said
stock by notifying the Board of Directors in
writing and thereafter shall deposit the price
| of said stock in cash with the corporation
on or before the expiration of eighty days
| from the last mentioned date.
| Upon the receipt of the first mentioned
| notice, the Board of Directors shall advise
| the person owning said stock, his agent or
representative, to join with said Board in
| fixing the value of said Stock which value
| shall be established on the basis of the last
annual or semi annual statement report
| of the corporation and the last monthly trial
| balance preceding the date of such notice,
| and the value thus found and established
| shall constitute the value and price of said
stock. If within twenty-four hours after
| such notice, the owner, his agent or repre-
sentative, does not join with the Board in
establishing the price of value of the stock,
| the Board may proceed without further de-
| lay to fix the said value, using the report
and triah> balance aforesaid for that pur-
pose, which writings are declared to be con-
elusive evidence for and against all parties
| in interest in the premises. whether the
value is established by the joint act Of the
| owner his agent. widow, heir or representa-
tive of by the Board of Directors acting in
default of the corporation or said person or
persons. Upon receipt of the offer or &C
ceptance of any shareholder to purchase said
stock and upon obtaining guarantee salts
factory to said Board for the price thereof,
the Board of Directors shall thereupon give
notice thereof to the owner of the stock, his
agent or representative, and before the ex-
piration of the period Of eighty days afore-
said shall cali in the certificate or certifi-
Gates representinp such stock and paw the