The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-10
CHARTER OF MISSISSIPPI SHIPPING
COMPANY INC.

|
COMPANY, INC.
United States OF America, State OF Louis
! lana, Parish OF Orleans. Be 1t known, that
on this Path day OF the month OF March,
in the year of our Lord, one thousand, nine
| hundred and nineteen. Before me, Henry
| z. Dart, Jr., Notary Public, duly comlnIs-
stoned and qualified in and for the Parish
and State aforesaid, and in the presence OF
| the witnesses hereinafter named and under
| signed. Personally came and appeared, the
persons whose names hereunto subscribed,
who declared that they are all OF age and
residents OF the City OF New Orleans, State
| of Louisiana, who declared that, availing
| themselves of the provisions OF the laws OF
| this State relative to the organization OF
corporations, they have formed and organized
and do by these presents form themselves
| into and constitute a corporation and body
| polite in law for the objects and purposes
and under the stipulations and agreements
| hereinafter set forth and expressed, which
| they hereby adopt as their charter.
| ARTICLE 1.-The name and title OF the
corporation hereby formed is declared to be
| the Mississippi Shipping Company, Inc, Its
| domicile shall be IN the City OF New Or
leans, State of Louisiana, and it shall have
| and enjoy succession by its corporate name
! for a period of ninety nine years from and
| after date hereof Citation or other legal
process shall be served upon the President
and in the event OF his absence or inability
| to act, from any cause, the same shall be
| served upon the Vice-President, the Manager,
the Secretarw, the Secretary Treasurer,
should the latter offices be combined in one
| person.
ARTICLE 1.-THE OBJECTS and purposes
for which this corporation is organized and
the nature of the business to be carried on
by it are hereby declared to be:
| QsD To engage in and carry on a steam
! x1ip business; to own, control and acquire by
lease, charter, purchase, construct or other
| wise acquire steamboats,, sailing vessels,
| tugs, barges, lighters, vessels and water
craft of all kinds, or interests therein, and
for he ira a
goods and passengers; also to purchase,
build, construct, repair, lease, sell, convey,
| manage and operate vessels OF all kinds, and
| all machinery, appliances and appurtenances
| incidentally necessary or convenient thereto
| or in any way connected therewlth; with
| also power to do towing business and also
| TO purchase, own, lease, construct control,
and operate docks, warehouses, wharves, dry
docks, and dock machinery, appliances and
appurtenances of all kinds, and with power
also to do a general shp-bulding, stevedor-
ing, dockage, warehouse, ship agency, ship
brokerage and commission business, with
power for any and all of the above purposes
| to borrow money, and TO issue from time to
time, to any extent, necessary and conVeni-
ent in the opinion of the Board OF Directors
| of this corporation, negotiable notes, cou-
pons, registered or other bonds or obligations
of this corporation, and to secure the payment
of the principal and interest on the same by
mortgage or pledge of all or any part OF the
| property, rights, franchises, and privileges
| of the corporation then owned or which may
| be thereafter acquired by the corporation,
and also with full power to do all things
proper, necessary, convenient or incidental to
the powers and purposes above expressed.
(2D To acquire by purchase, subscription
or otherwise, and to hold, sell, assign, trans
fer, exchange, mortgage, pledge or otherwise
| dispose of any shares OF the capital STOCK,
bonds, or other evidences of Indebtedness
of any other corporation or corporations, as
ISOLATION or associations, domestic or foreign,
engaged in any business in which this cor
poratlon may be authorized to engage, or
the ownership OF whose securities would be
advantageous or convenient IN the protec-
ton promotion OF any OF the purposes or
interests of this corporation, but only to the
extent authorized by the laws OF the State
| of Louisiana.
sd To carry out all or any part of the
foregoing objects principal, manager,
factor, agent, contractor or otherwise, either
alone or in conjunction with any person.
, firm, association corporation, and in any
| part of the world; and in carrying on its
. business and for the purpose of attaining or
| furthering any of its objects, to make and
| perform such contracts OF any kind and de-
) scription, to do such acts and things, and to
| exercise any and all powers natural
! person would lawfully make, perform, do OF
otherwise, provided the same be not incon-
sistent with the laws under which this cor
poraton is organized.
4 ARTICLE III.-The capital stock of this
| corporation is hereby fixed the sum OF
I One Hundred Thousand Dollars (Sl00.0O0.00)
{ value of one hundred dollars $4,000 each
e payable in cash and the capital stock may
be increased hereafter to the sum of One
Million Dollars. No sale or transfer of this
6 stock shall be recognized by the corporation
\ unless and until said stock shall have been
r first offered in writing to the corporation
2 at its book value, as shown by the last an
nual statement, for the use and benefit OF
: other stockholders, who are hereby granted
4 the absolute first right and privilege to pur
chase same at the price stated and to &C
cept (Which shall be in writing) and pay
therefor within thirty days after such Of
r the rights conferred in this article of the
charter shall follow the stock into whosoevei
: hands it may go. Failure of the holder OF
possessor of the certificatae of stock to pro
e duce or deliver same shall authorize the
{ corporation to receive in trust the price
thereof, to cancel such outstanding cert
r ficates on the books of the corporation anc
+ issue new certificates therefor. The stocl
l. | so purchased shall be divided among the re
. | naming stockholders in proportion to thei
;. several holdings and upon payment of thu
o price thereof. Any such stock not desired
e by any stakeholder or stockholders shall b,
divided pro rata among the balance of thu
n stockholders. This corporation shall be tn,
5 agent of the stockholders specially empow
/ cred through its Board of Directors, to en-
i force and carry out all of the foregoing pro
r The substance of these provisions Of tn,
$ Charter shall be stated briefly and succinctl!
|. upon the face of each certificate of stool
i and shall be conclusive notice to all persons
!. dealing Herewith.
n ARTICLE IV.-All the corporate power
e shall be vested in and exercised by Boar
O of Directors made up of seven stockholders
|. four of whom shall constitute a quorum 70
y transacting all business Said Board ma!
i adopt bylaws, rules and regulations for TIL
l. government of the business and affairs o
e the company, and may alter, amend ant
/ | change the same at pleasure. 1t may ap
e point, hire and discharge all officers, agent
e and employees. fix all salaries and gener
II ally do and perform all things necessary 70
e the transaction of the business and affair
e Of the corporation. Any Directors intending
o to be absent temporarily may be represent
e ed by written proxy filed with the Boar
h and notified to the President. Vacancie
5, occurring in the Board shall be filled by IL
e The first Board of Directors shall be com
y posed Of NJ. J. Sanders, New Orleans, La.
It 7. F. Cunningham, New Orleans, La; R
i; s: Hecht; New Orleans, La; Theodore Bren,
d New Orleans, La; VIM. B. Burkenroad
Il New Orleans, La; George Westfeldt, New
l. Orleans, La: VIM. P. Ross, New Orleans
d La; and they shall hold office until tn
e first Monday following the first Sunday il
e May, 1920, and until their successors ar
n duly elected and qualified The officers o
e the company are hereby declared to be
h President, Vice-President and Secretary
n and the said offices shall be filled by tn
n said NJ ]. Sanders, as President, the sal
T. F. Cunningham. as Vice President, an
/. the said r. S. Hecht, as Secretary-Treas
n urer. The office of Treasurer, when and