The herald. [volume] (New Orleans, La.) 1905-1953, 1919-02-20
CHARTERS


decline such offer Of stock Should the
Board of Directors or the stockholders de |
cline to purchase the said stock, then the |
stakeholder or stockholders who made the
offer To- sell or otherwise dispose OF his
stock may sell or otherwise dispose of II
in any manner and at any price That ne or
they may see fit. But each share OF stock
is issued under the condition and under
standing that no stakeholder shall make a
sale or transfer OF his stock in violation OF
this provision, and such sale or transfer, II
made shall be void, and this company shall
be under no obligation 10 list SAID stock on
its books or to regard the holder OF the GER
tificate thereof.
ARTICLE Vu.-The corporate powers OF
this corporation shall be vested IN and eX
ercised by a Board OF Directors composed OF
three stockholders, two OF whom shall con
stitute 4 quorum Tor the transaction OF busl-
ness. The directors OF tins corporation may
vote in person or by written proxy at any
Of the meetings of the Board of Directors;
and the Board Of Directors may delegate any
of its powers to any officer or officers or
anv other representative of the Company by
appropriate resolution TO that effect. Inc
first Board of Directors OF this corporation
shall be composed Of the following: ALVIN
f. Johnson August kraemer, Joseph Lee
Rhodes, all residents in the City OF New or,
leans, State of Louisiana, and they shall
be the officers of the Company as follows:
Alvin f. Johnson, President August krae-
mer, Vice President; Joseph Lee Rhodes
Secretary Treasurer, and they shall serve
until the second Wednesday in January
| 1870. or until their Successors are elected and
Qualified The Directors shall be elected
annually by the stockholders at a meeting
| held on the second Wednesday in January
| in each year thereafter. Notice of such meet
| ing shall be given ten days PRIOR to the date
| Of the meeting, IN writing and sent 10 each
| stakeholder at his last known address. Each
| stakeholder shall at such annual meeting or
| other ceilings general special, be EMIT
| led in person or by proxy to one vote Tor
| each share of stock owned by him. Elec.
| lions shall be held under such rules and
| regulations as may from time to time be
| determined by the Board OF Directors. The
| Directors when elected shall hold Office tor
one year until their successors shall have
been elected and qualified and failure to
| hold the annual meeting OF stockholders or
| to elect annually the Directors shall not
| oDerate the forfeiture of this charter or any
| rights hereunder.
| ARTICLE VIII-This charter or act of in
corporation may be changed, modified alser-
ed or amended by and with the cOnsen: o:
two thirds OF all the stock present at any
meeting. general or special. held for that pur
pose: and such amendments may be mater
iai or immaterial subject only to limitations
as ray be by law provided; and this CDR
p1raticn shall have the power to increase @:
decrease it's capital stock as hereinoetort
set out and any increase in capital stock II
excess of the amount named herein as tht
amount to which it may be increased, may
be made by three-fourths vote OF all out
, standing stock.
ARTICLE IX-Notice of any and al
meetings referred 10 in this charter or re
quired by law, shall be given in the man
ner provided for, giving notices in case o
} elections, unless the same shall have beef
waived.
ARTICLE Mn case of dissolution, Ii
l l.. So Oh h
limitation or otherwise, the affairs of tn
corporation shall be liqudated by one o
more lqudators elected by the stakeholder:
who may provide the number of said liqui
dators, and vest them with such power an
=; authority as may by law be permitted; II
the terms and conditions upon which the
: | shall serve. and their compensation. an
y provide that in case of death or disabilit
T OF any one of said liquidators, the remain
| ing lqudators may fill the vacancy G
e continue 10 act on behalf of the corporation
ARTICLE XI.-No stakeholder shall b
o liable or responsible for any costs, cor
( tracts, debts or faults of the corporation,
q of any of its officers. shall any mel
,, | informality in organization have the effet
u of rendering this charter null and void,
q of exposing any stockholders TO any lii
!. bility beyond the unpaid balance due on Il
), stock held by him.
- ARTICLE XII.-The subscribers here
- have written opposite their names, the nun
and their post office addresses, so that tn
~ Charter may serve as the subscription list
g. the corporations all of which subscriptions a
az payable in the manner and form set o
: herein.
n, Thus done and passed at my office, in Il
n City of New Orleans, State of Louisiana,
&c the day, month and year herein first abo
10 written, in the presence of Morris Il. Re
n mann and Paul E. Chaser, competent w
~ nesses, who have hereunto signed their nam
e with the said appearers and me, said y
m tary, after due reading of the whole.
IN Witnesses: Morris B. Redmann, Paul
he Chasez.
". Original Signed Alvin E. Johnson,
shares, 304 n. o. Nat. Bank Bldg; Augu
es Kramer, 10 shares, SlS n. Rocheblave S
nd Joseph Lee Rhodes, 10 shares, 304 n. o. NJ
on Bank Bldg; Otto Olson, shares, 62l
To Dorgenois.
d; WILLIAM J. GUSTE,
ii. Notary Public
re. l hereby certify the above and foregoi
ov to be true and correct copy of the ori
al nal on file in the records of my office.
le- New Orleans, La. January %, 1919.
vi. WILLIAM J. GUSTE,
or Notary Public
nd I, the undersigned. Recorder of Mo
nd cages in and for the Parish of Orlea
C. State of Louisiana, do hereby certify Il
,c- the above and foregoing act of incorpo
nd ton of Southern Development Compar
Inc, was this day duly recorded in my
MS flee in Book 1922, Folio $50.
of New Orleans, La, January 10Th, 1919.
all (Sgned) EMILE J. LEONARD, by. r
,ty Feb. 6-13-2o-Mch. 6-13.
.sh AMENDMENT TO CHARTER OF MARI
-