The herald. [volume] (New Orleans, La.) 1905-1953, 1919-09-11
CHARTER.

fsTIy 70 make all contracts and do all th.us-
incident TO the construction under I"iI ',' %
railroads. bridges, roads, highways ana III. ID
pixies. To drain, reclaim ana lH'ri'
merged swanpv or other lands. and % e..
and carry on a general dredging and dra."
ing business and for that purpose 70 'N"
. and operate constructing, dredging "hI u.a..
my plants, consisting OF machinery, 4tf'',HN'
vessels engines, cars, wagons and properly
/ Of every class and description convenient o'
necessary thereto.
! Section V To carry on any other bus ness
which under the Law II may .e entitled 10
/ carry on which may seem 20 the corp .'A'''.
/ - be calculated directly or indirectly. q
/ effectuate the aforesaid objects or either oi
them or to facilitate II IN the trans1ot.oa
of its aforesaid business or businesses, '.
any part thereof, or IN the transaction ID.
auv other lawful business that may be ca..
clIlatcd directly or indirectly % enhance the
value Of or 20 render profitable any ~ the
company's properties and rights; and gen
orally to hold and exercise all such inc'den
tai powers and privileges as relate to the
objects and purposes herei1Jetore set trta
. as may be necessary, useful or convenient
for efiectuating said objects and purposes.
/ ARTICLE IV.-The authorized capital
/ stock of this corporation i hereby liked al
! five thousand (S5OnOW dollars, divided l"t"
/ fifty shares OF the par value OF one hundred
/ $4,000 dollars each, all Of which shall he
common stock, and the same may be ISSUED
| for cash money, or IN payment OF property
/ or services actually received by or -c1lcr-
ed to said corporation.
This corporation shall commence business
and uc.u"r going concern as SOFA as ii\e
thousand dollars of It's capital >p,k sHal.
have been subscribed and paid fD~, said
stock shall he fully paid AZ the time OF its
/ issuance and thereafter worcestershire. The
parties hereto declare that each subscribed
for the number III shares Of said capital STOCK
set opposite their respective signatures here
to. aggragat!ng five Thousand tS5r0o0 dol
lars. the same 10 be paid Tor in cash or IN
property or other chooses IN action or notes
| Of the value satisfactory 20 the holders. ne
Board Il Directors hereinafter created Is
specially authorized to dispose OF the stock
for any and all OF the purposes above stated.
| a. in its Judgment may seem fdIr and proper
The capital stock OF this corporation may be
increased or decreased from Tine to time t.
any amount not exceeding Fifty Thousand
Dollars, in accordance with the provision OF
| the law appertaInng thereto.
ARTICLE N.--AIl the powers Of this cor
poratiOn shall be vested in and be exercised
by Board Of Directors composed OF not
| less than three more than i've stock
holders, as the board may from time to time
determine TO be elected each year by the
stockholders at the annual meeting; each dI.
rector shall be bona fIde stakeholder, ana
the first Board OF Directors who shall serve
until the election to be held on the tIr>l
Tuesday in February, 1920, and until Their
successors are elected and qualified, with
their postoffice addresses, are as follows; A.
| |.
b. Graces. New Orleans. - shares; Mollle
Captain, New Orleans. -- shares; with A /
Dusenbury as President; A b. Graves As
Vice-PreSident and Treasurer and Moliie
Captain as Secretary.
On the first Tuesday in February, 1920
and annually thereafter. except when Such
dav shall fall on a legal holiday, then upon
the next following lay day, the stockholders
shall elect board OF directors to- the en-
suing year, the board already installed "a
i 1 +haI grs
are elected and qualified. The Board o,
Directors so elected sshall select from then
own number the officers OF the corporation
who shall be a President, a Vice Pre- ldent
and shall also elect Secretary and Treas
urer. who may be members OF the board OF
not as the Directors may see ut. and any
two of said offices may be held by one and
the same person except those OF freslden'
and Vice-President.
The election of directors shall be by bal
lot. and the persons receiving the largest
number of votes shall be declared elected
For electing directors or for any. other pur
poses, each share of stock, whether present
or by proxy, shall be entitled to one vote
A majority of the votes cast shall be re
oured to pass any resolution or decide any
question submitted TO the stockholders. eN
cept for the alteration or amendment or thl'
charter or the dissolution of the corporation
!: as hereinafter provided. The said Board o.
. Directors shall have power and authority tt
make all necessary rules and regulations fo'
, the management, oprauon and control OF Inc
business of the corporation, as well as .
make all necessary rules and by laws, wit.
power TO fill any vacancy occurring IN thel
, number or any vacancy occurring among th'
officers OF the corporation. majority o
the directors voting at any one time, IN per
son or by proxy, shall be required to pas,
any resolution or adopt any bylaws anC
which, when so adopted, shall become vail
corporate acts.
ARTICLE VI-Notice of all meetings Of
stockholders for electing directors or tor any
other purpose. except may be hereinafter
directed, shall be given in writing by the
Secretary, to be deposited in the mails al
least ten days before each meeting, directed
TO each stakeholder at his last known ad
drss appearing upon the books of the corpora
tion, unless said notice is waived in writing
by all the stockholders appearing as sucf
upon the books.
ARTICLE Widths act of incorporation
may be modified, added to, changed o
amended, or this corporation may be DIS,
solved by and the assent of the holders OF
two-thirds in amount of its then outstanding
stock. given at a general meeting OF the
stockholders to be convened after. ten days
prior notice, to be given in one OF the daily
newspapers published in the City OF New
Orleans, in additional to the personal notice
to each of the stockholders, as provided
Article VI Of its charter, and such changes
as may be made in reference to the increase
or decrease of the capital stock shall be
preceded by such notice, delays and formali-
ties as are by law required In event of the
dissolution of said corporation, either by lin
itatiOn of its charter or otherwise, its al
fairs shall be liquidated by three commits
sioners, to be appointed and elected at d
special meeting called for that purpose, a
above provided and who shall remain in Of
> flee until the affairs Of said corporation shall
be fully liquidated and in Of the dealt
, of one or more of said liquidators. the sur
vivors or survivor shall continue to act.
! -toII hall h.
held liable or responsible for the contracts
or faults of this corporation on any turtnel
sum that the unpaid balance due to the cor
, poration on the shares owned by him, nor
Shall anv mere informality in organization
have the effect of rendering this charter null
or of exposing a stakeholder to liability be
= yond the amount of his unpaid stock, If any
Thus done and signed at my office, in th'
. City of New Orleans, on the day, month ant
, wear first hereinabove written, in the pres
ence Of ]. r. Graves and lrma l.. Schmidt
! competent witnesses, who hereunto siSi
their names. together with said appearer
r and me, Notary, after due reading OF TIT
whole. =.
+ Witnesses: ]. R. Graves. Irna l. Schmidt
COrgnal Signed A. T. Dusenbury',
share; A. b. Graves, ! share; Mollle Captain
= / share Gulf Land & Drainage Co., lnc.' D!
A. T. Dusenbury. Pres, ~ shares;
; Notary Public.
I, the undersigned. Recorder of Mortgages
J, in and for the Parsih Of Orleans, State o
. Louisiana, hereby certify that the above an
E foregoing act of incorporation Of Gulf Earn