The herald. [volume] (New Orleans, La.) 1905-1953, 1919-11-27
CHARTER

and operate plantations, factories and re-
tineries and to sell and lease the same
to purchase, sell, lease and operate grain
elevators, canning factories. warehouses,
stores and commiSSarieS, and to operate
switch tracks, railroads, barge and boat
lines in connection with any of the OBJ
jectS and purposes for which this cOrpOr-
alton is formed to own, handle and con-
troll letters patent and inventions, and
shares of stock of other corporations, and
to vote the stock owned by it the same
as a natural person might do; 10 issue
bonds, notes and other evidences of in
debtednesS and to secure the payment of
the same by mortgage, deed of trust, or
otherwise; to act as agent, trustee, broker
or in any other tiduciary capacity and to
borrow and loan money; and generally to
do and perform such acts and deeds and
transact such business as may be Incl
dental or germane to any of the objects
and purposes herein set forth.
ARTICLE IV-The capital stock of
said corporation is hereby fixed at the
sum of ten thousand ($l0,0O0) dollars,
divided into one hundred shares of the
par value of one hundred ($l0O dollars
each. all of which shall be common
stock and the same to be issued for cash
or in payment of property or services
actually received by or rendered to the
corporation.
At all meetings of stockholders, each
stakeholder shall be entitled to one vote
for each share of stock standing in his
name, said vote OF be cast in person or
by written proxy.
The parties hereto declare that they
have subscribed for the number of shares
of the capital stock of the said corpora
ton set opposite their respective names,
so that this act of incorporation shall
serve as an original subscription.
No transfer of stock shall be binding
upon this corporation unless made and
recorded upon its books
The amount to which the capital stock
of said corporation may be increased is
hereby fixed at the sum of one hundred
thousand (S10O,000) dollars.
ARTICLE v-No present or future
holder of common stock shall ever SELL
assign or transfer, other than by inheri-
lance, any of the capital stock of this
corporation until the same shall have
first been offered in writing to the re-
naming holders of stock for the benefit
of those who may desire to purchase tn
same, though the Board of Directors, for
a period of ten days at fixed value. 1t
shall be the duty of the Board of Di-
rectors promptly on receiving an offer
of sale of any of the stock of the corpora
ton. to communicate the same to the
shareholders. in writing, through the
secretary of the corporation, and each
shareholder shall be entitled to purchase
such proportion of the stock so offered
for sale as the number of shares owned
by him or her. at the time, bears to the
number of shares owned by all other
shareholders desiring to participate in the
purchase.
II said offer be not accepted by the
other holders of stock within the time
above prescribed, then such shareholders
desiring to sell shall be entitled to sell
and transfer their stock to such person
no she fit for
not less than the price at which he or she
has offered his or her stock to the other
shareholders. No sale under foreclosure
attachment or other process or by virtue
of any power of attorney, pledge or
hypothecation shall be validity made of
the stock of this corporation until the
foregoing requirements have been com
piled with by the person or persons, firm
ure or sale The provisions of this ar
ticle shall be printed upon the face OF
each certificate of stock.
ARTICLE vI-All the powers of this
corporation shall be vested in and be ex-
ercised by board of directors composed
of not less than three nor more than five
shareholders, and majority shall consti.
tute a quorum for the transaction of all
business.
A majority of the board of directors
voting in person shall be required to pass
any resolution or adopt any bylaw
which, when so passed or adopted, shall
become valid corporate act.
The board of directors shall be elected
annually at general meeting of the
shareholders to be held on the first Mon
day in April 1920, and on the same day
and month in each succeeding year, after
ten days written notice mailed to each
shareholder at his last known address ap-
pearing upon the books of the corporation
unless such notice be waived in writing
by all of the shareholders appearing as
such upon the books. The failure, how.
ever. from any cause to hold the annua
meeting of the shareholders or the failure
to elect directors thereat, shall not oper'
ate the forfeiture of this charter, nor i'm
pair the corporate management but the
directors then in Office shall serve unit
their successors shall have been duly
elected, qualified and installed. Any va
cancy in the board of directors shall b'
filled for the unexpired term by the re
naming directors.
The officers of this corporation shall
consist of a president, one or more vice
presidents and a secretary and treasurer
The office of secretary and treasurer ma!
be held by one and the same person un
der the name secretary treasurer; thu
Office of president and treasurer, or presl
dent and secretary, and vice-presiden
and treasurer, or vice-president and secre
tary, may likewise be combined under thu
names of president and treasurer, presi
dent and secretary and vice-president ant
treasurer and vice-president and secre
tary.
There may also be a general manager
who may or may not be member OF thu
Board of Directors.
The first board of directors and officers
who shall serve until the annual meeting
to be held on the first Monday in April
1920, shall consist of:
r. ID. Adams. 4729 Prytania street, New
Orleans, La, who shall be president ant
W. N. Perkins, 2123 Coliseum street
New Orleans, La, who shall be vice
president.
c. French, 10 Audubon Place, New Or
leans, La, who shall be treasurer.
ARTICLE vII-This act of incorpora
| ton may be changed, altered or amended
or this corporation may be dissolved b!
| and with the consent Of the holders o
| two thirds of the amount of its then out
standing stock, at a general meeting con
| vened for that purpose. after thirty day
notice in writing mailed to each share
| holders last known address and after M
teen days publication in one Of the dali!
| newspapers published in the city of New
Orleans, as prescribed by law.
If this corporation should be dissolve'
by limitation or otherwise, it's affair
shall be liauidated under the supervision
of three commissioners to be elected at
| general meeting of the shareholders con
vened for that purpose and after motto
as above provided in this article, an
they shall remain in Office until the at
| fully liquidated; and in case Of the deaf
or disability to act of one or more OF tn
liuuidators the survivors or survive
shall continue to act under the provision
and in accordance with Section Thirt
of Act 267 of 1914