The herald. [volume] (New Orleans, La.) 1905-1953, 1919-12-18
CHARTER.
CHARTER OF HERBERT MAY COM
PA\l, INC.

leans. BE it known, that on this eighth /
day of the month of December, i'll the I
year one thousand, nine hundred and nine
teen, before me, Henry L. Dart, Jr.,
notary public, duly commissioned and
sworn in and for the Parish of Orleans
and City of New Orleans, therein reSid-
ing, personally appeared the persons whose
names are hereunto subscribed, who de-
clared that. awaiting themselves of the
provisions of the laws of the State, rela-
i've TO the organization of corporations,
they have covcnanted and agreed, and do
by these presents, covenant and agree,
bind, form and constitute themselves, as
well as such other persons who may here
after join or become associated with them,
into Il corporation and body polite i'll law
for the objects and purposes, and under
the agreements and Supulations follow
ing, tOwit:
ARTICLE 1.-The name and style of
this corporation shall be Herbert May
Company, Incorporated, and under this
name il shall have and enjoy all the
rights, advantages aud privileges granted
by law to corporations, ii shall exist Tor
period of ninety nine years; II shall
have power TO contract, sue and be sued
i'll its corporate name; to make and use
corporate seal, and the same to break
or alter at pleasure; to hold, receive. pur-
chase, convey. mortgage, hypOtheCatc or
pledge property both real and personal:
to issue bonds, notes and other Obligations :;
to purchase, acquire ana own stocks,
tons; to have and employ managers, di-
rrctOrs, Officers, agents and other en-
ployees, as the interests and convenienceS
Ot said corporation may require; and TO
make and establish such bylaws, rules
and regulations for the corporate man
agement and control of the affairs of said
corporation, as may be deemed necessary
and eXpedient.
ARTICLE 1.-THE domicile of the said
CORPORATION shall be in the City of New
a lrl. Ssh Of lrl .lI nj
lana, and citation and other legal process
shall be served on the President and in
his absence on the Vice-Presidcnt. In case
of the death of the President of this cor
pOratiOD, or in the event of his inablilty
to act as such, his duties and functions
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 car
red on by it are hereby declared to be:
To construct purchase, charter, lease hire
or otherwise acquire, and to man, equip,
maintain and operate, steamships, steam
boats, tOwbOats, ferry boats, sailing yes
sells, barges and other water craft of
whatever description for transportation
and towage of freight and passengers for
hire and to engage in general trans
pOrtation business, upon and between
places on rivers, lakes bays and other
waters and upon the high seas, to ports
and places in foreign countries, and to
carry on a general express business in
connection with the operation of said yes
sells; to construct, purchase, lease, hire or
otherwise acquire warehouses, landing
places, canals, docks, wharves and other
facilities and to improve navigation on
rivers, bayous and other waters, as the
business Of the company may require; to
| construct, hire, lease or otherwise acquire
and to operate dry docks and floating
docks, suitable for handling and repair
| ing vessels, and to build and repair ves-
sells of every description; to construct, pur-
chase, hire, lease or otherwise acquire.
| and to operate on land, Omnibuses, auto
mobiles, trucks, teams and vehicles of
every nature and description for the
transportation of freight and passengers
to and from the landing places Of the yes
other points as the Board Of Director:
may from time to time determine to b.
necessary for the business Of said com
pany and generally to do and perform al
things germane and incidental to, o.
usual in. the business and affairs herein
above authorized.
ARTICLE IV.-The capital stock of thi
corporation Is hereby fixed at the sum o
fifty thousand 1850, 100000 dollars, divide'
, into five hundred shares Of the par valu
which shares shall be paid for In cas-
I, or in the purchase or exchange of prop
erty, and the said capital stock may b
increased to the sum of five hundre
4
!; All shares of stock shall be full paid an
I non assessable. No transfer Of stock sha
be binding upon the corporation unies
y made upon its books and all certificate
, of stock shall be signed by such officer
r as may be designated by the Board of ID
$ rectors.
!, All stock In this corporation shall
u held upon a condition precedent and III
J der contract and agreement in the natul
:, of vested rights that all such stock Is
held and possessed subject to the rul
:, and provisions for the transfer of san
, , hereinafter set out, towit
J., ID No sale or other transfer Of shar
l. of stock in this corporation shall be val
Il until and unless the opportunity has be-
d first afforded the shareholders of recol
% at the date of such transfer, sale or 9th
n alienation, to purchase such stocks at boz
a value, plus twenty five per cent, the val
l. to be ascertained in the manner here
,r prescribed. The right to acquire sa
n stock hereby first vested In the 9th
I. stockholders of record shall follow {
o | stock into any hands to which 1t may pa
To and may be exercised against the holde
al thereof within ninety days from the til
,r any sale or transfer has been Offered
Or be entered on the books of the corpor
r ton.
10 1t shall be the duty of any holder
l. stock in this corporation who intends
ID desires to sell, transfer, ALLEVIATE or otht
go wise dispose Of the same to give ten da!
a. written notice of such intention or desi
s to the Board of Directors Of the corpoI
I'd ton, who are hereby constituted ager
rs of the other stockholders for the purpc
10 of such notice. and said Board OF l
r, rectors shall give immediate informant
n thereof, in writing, to all the other stoC
o. holders of record. Before the expirati
- of the ten days from the receipt or So
notice by the Board of Directors, a
" shareholder Of record may offer to p'
or chase. and may acquire the right to pt
al chase, said stock by notifying the Boa
Il of Directors in writing and thereaf
N. shall deposit the price OF said stock
ne cash with the corporation on or Def
K the expiration of eighty days from
to last mentioned date.
rs Upon the receipt of the first mention
e. notice, the Board Of Directors shall ;
or wise the person owning said stock,
b. agent or representative, to join with 81
oh Board in fixing the value of said sto
w which value shall be established on
in basis of the last annual or semi-ann
ay statement or report Of the corporat
of and the last monthly trial balance
mr. cedinC the date Of such notice, and
We value thus found and established sh
i'd constitute the value and price OF s
ne stock.
III within twenty-four hours after 81
notice to the owner, his agent or rep
sentative does not join with the BOZ
in establishing the price or value OF
stock, the Board may proceed with
further delay to fix the said value. us
the report and trial balance aforesaid
that purpose, which writings are decla
TO be conclusive evidence for and agai
RI all parties in interest In the premi
MS whether the value Is established by
,at Joint act of the owner, his agent, WIZ
ID heirs or representative or by the 30