The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-29
CHARTER OF JAHNcKE DRY DOCK &
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 da,
| of the month of March, in the year on
thousand nine hundred and nineteen, befor
me, Henry p Dart, Jr, Notary Public, dul.
commissioned and sworn in and for the Par
ish of Orleans and City of New Orleans
| therein residing, personally appeared tn
| persons whose names are hereunto sub
| scribed. who declared that, availing them
| selves OF the provisions of the laws of thu
State, relative TO the organization of cor
porations,. they have covenanted and agreed
| and do, by these presents, covenant ant
| agree, bind form and constitute themselves
| as well as 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 thu
agreements and stipulations following, to
wit:
| ARTICLE 1.-The name and title of thi
corporation shall be Jahncke Dry Dock 8
| Ship Repair Company, Inc, and under this
name it shall have and enjoy all the rights
advantages and privileges granted by Law
to corporations; it shall exist for period
| of ninety nine years; II shall have power L
| contract, sue and be sued in its corporate
| name; to make and a corporate seal, anC
the same TO break or alter at pleasure; IL
| hold. receive, purchase, convey, mortgage
hypothecate or pledge property, both rea
| obligations; to have and employ managers
| directors, officers, agents and other EN-
| ployees, as 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 domicile of said cor.
poration shall be in the City of New Or
leans, in this State, and citation and other
legal process shall be served the presi-
dent, and in his absence, on the vice presi-
dent. In case Of the death Of the president
OF this corporation, or in the event of his
inability TO act SUCH his duties and func-
tions 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 IL are hereby declared to be: To 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 descrip-
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 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, wharves, and other
facilities and to improve navigation or riv-
ers, bayous, and other waters, as the bust
ness of the company may require; to con-
struct, hire, lease or 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
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
(S250,0O0.00) divided into two thousand five
hundred shares of the par value of one hun
dred 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
non assessable. No transfer of stock shall
be binding upon the corporation unless made
upon its books and all certificates of stock
shall be signed by such officers as may be
designated by the Board of Directors. All
stock in this corporation shall be held upon
a 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
he has hear
first afforded the stockholders Of record at
he date OF such transfer sale other allie
nation to purchase such stock at book value,
plus twenty-five per cent, the value to be
IN the manner herein prescribed. |
The right to acquire said stock hereby vest
ID in the other stockholders of record shall
ollow the stock into any hands to which it |
nay pass and may be exercised against the |
holders thereof within ninety days from the |
ime any sale or transfer has been offered |
o be entered on the books of the corpora |
ion. 1t shall be the duty of any holder |
II stock in this corporation who intends or |
lesires to sell, transfer, ALLEVIATE or otherwise
dispose OF same to give ten days written no.
ice of such intention desire to the Board |
4 Directors of the corporation, who are |
hereby constituted agents of the said stock |
lolders Tor the purpose of such notice and |
aid Board of Directors shall give immediate |
ther stockholders of record Before the ex-
iration of the ten days from the receipt of
aid notice by the Board of Directors any
hareholder OF record may offer to purchase,
nd may acquire the right to purchase, said
took by notifying the Board of Directors in
1riting and thereafter shall deposit the price
I said stock in cash with the corporation
n or before the expiration of eighty days
rom the last mentioned date.
Upon the receipt of the first mentioned
office, the Board of Directors shall advise
he person owning said stock, his agent or
representative, to join with said Board in
king the value of said stock, which value
hall be established on the basis of the last
nnual or semi-annual statement or report
the corporation and the last monthly trial
alance preceding the date of such notice,
nd the value thus found and established
hall constitute the value and price of said
took. If within twenty.four hours after
UGH notice, the owner, his agent or repre-
entative, does not join with the Board in
stablis hing the price of value of the stock,
lie Board may proceed without further de-
~ to fix the said value, using the report
nd trial balance aforesaid for that pur-
ose, which writings are declared to be con-
usive evidence for and against all parties
interest in the premises, whether the
alue IS established by the joint act of the
vner, his agent, widow. heir or representa-.
We Of by the Board of Directors acting in
,fault OF the cooperation or said person or ,
,rsons. Upon receipt of the offer or &C.
ptance of any shareholder to purchase said !
ock and upon obtaining guarantee salts
ctory to said Board for the price thereof, !
e Board of Directors shall thereupon give !
,tice thereof to the owner of the stock, his
rent or representative, and before the ex- /
ration of the period of eighty days afore- !
id shall call in the certificate or certifi. ,
ties representing such stock and pay the :
ice or value thereof and cause the same |