The herald., 1919-09-25
CHARTER.

par value of one hundred ($10000) Dol .
lars each. which shall be payable in cash,
or may he issued NJ not less than par IN
payment of services actually rendered or
property actually received by the corpora .
ton.
This corporation shall become a going
concern rs soon as fifty per cent of the
amount of its capital stock has been sub .
scribed for and fifty per cent of said ,
amount subscribed for shall have been .
paid in cash. The amount to which the
capital stock of this corporation may be
increased is hereby fixed at the sum of
one million $1,000oo00O Dollars.
No transfer of stock shall be binding
upon the corporation unless made and
recorded upon its books.
ARTICLE V.-AH the powers Of this .
corporation shall be vested in and eN-
erciSed by n Board of Directors com
posed of not less than three. nor more
than seven shareholders and a majority
shall constitute a quorum for the tran
SaCtiOn of all business. \ majority OF
| the Board of Directors voting at any time
/ in person. shall he required to pass any
| resolution or adopt any bylaw, which,
when so passed or adopted, shall become
valid corporate acts. The Board of
| Directors shall be elected annually at
| general meeting of the stockholders, to
/ he held on the first Monday in October,
! 1920. and OH the same day and month
/ IN cdCh succeeding year. AFTER 1lttetn
days written notice mailed TO each
| shareholder at his last known address.
! appearing upon the books of the corpora
! ton unless such notice be waived in
| writing by all the shareholders appear
ing as such upon the books. 4 failure,
however, from any cause, to hold the an
nual meeting of stockholders. or failur"
to elect directors thereat, shall not Oper-
ate the forfeiture of this charter, nor i'm
pair the corporate management but the
|
their successors shall have been duly
| elected and qualified and installed. ANY
| vacancy in the Board of Directors shall
he filled for the uneXpired term by the
remaining directors.
The officers of the corporation shall
consist of a president, one or more vice
presidents. and a secretary and treasur-
or. The office of treasurer may be com
bnpd with that of president, or vice
president. and the offices of secretary
and treasurer may be held by one and
the same person under the name of
secretary treasurer.
ARTICLE VI.-The first officers and
Board of Directors who shall serve until
the first Monday in October, 1920, shall
consist of Alpheus c. Beane, 1872 Ma
pOleon Avenue, New Orleans La, who
shall he president; Alex Hyman, 1888
Sixth Street. New Orleans, La. who shall
he vice president; Charles f. Fenner, $500
Dryades Street. New Orleans. La, who
shall he secretary treasurer; William ;.
!, r. Beane, 5523 Hurst Street New Orleans.
La, director; Ernest Il. Norman, 1893
Octavia Street, New Orleans, La, director
Mike s. Hart. 1879 Sixth Street, New Or
leans, La, director; William II. May,
Marion. Alabama, director.
ARTICLE NII.-This act of incOrpOra-
o. ton may be changed, altered or amended
? or this corporation may be dissolved, by
p and with the consent of the holders OF
. two thirds in amount of the outstanding
stock at general meeting convened for
that purpose, after thirty days notice
D in writing, mailed to each Stockholder's
g last known address and after fifteen days
n publication in one of the daily newspapers
@ in the City of New Orleans, as prescribed
$ by law. If this corporation should be dis
@ solved by limitation, or OTHERWISE, its
affairs shall be liquidated under the sup
erviSiOn. of three commissioners, to b'
f elected at n general meeting of share
e holders convened for that purpose, aftel
: notice al above provided in this Article
d and they shall remain in office until th
q affairs of the corporation shall have beef