The herald. [volume] (New Orleans, La.) 1905-1953, 1919-12-25
CHARTER OF LEON ISRAEL BROS
(TEXASl. INC

CHARTER OF LEON ISRAEL & BROS.
(TEXAS), INC.
United States of America, State of Louis
lana, Parish of Orleans, City of New Or
leans. Be 1t known, that on this Sth day
of the month of December, in the year of
our Lord, one thousand nine hundred and
nineteen, before me, William J. Guste, a
Notary Public, duly commissioned and
qualified, in and for the above parish and
State, therein residing, and in the presence
OF the witnesses hereinafter named and
undersigned, personally came and appeared
the several parties whose names are here
unto subscribed, who seyerally declared
that, awaiting themselves of the laws of
the State of Louisiana in such cases made
and provided, and more particularly of Act
267 of the General Assembly of the State
of Louisiana of 1914, relating to the crea-
ton, organization and formation of cor
pOrations, they have covenanted and agreed
and by these presents do hereby covenant,
agree and bind themselves, as well as all
other persons as may hereafter become
associated with them, to form a corpora
ton for the objects and purposes under
the articles and stipulatiOns following
which they hereby adopt as their charter,
to-wit:
ARTICLE 1.-The name and title of this
corporation shall be Leon Israel & Bros.
(TeXas), Inc, and under its corporate
name il shall have power and authority to
have and enjoy corporate existence for a
period of ninety-nine years from date
hereof, unless sooner dissolved by liuui-
dation or otherwise. 1t snail have power
to contract; to sue and be sued to make
and use a corporate seal, and to alter and
break the same at pleasure; to hold re-
ceive, lease, purchase, transfer assign
mortgage, hypothecate, pledge or other
wise dispose of, property, real, personal or
mixed, corporeal and incOrporeal; to issue
bonds and, if desired, to secure same by
mortgage; to hold stock in other COM
panles; to name, elect and appoint such
manager, agents, directors, and officers as
The interest and convenience of said corpor-
alton may require; to make and establish
alter and amend, bylaws, rules and regu-
lalons for its proper government, as may
be deemed necessary and proper for the
extension of the business in which the cor
poratiOn is engaged.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans, State of Louisiana, and service of
process shall be made upon the President,
or, in his absence, upon the Secretary,
ARTICLE 1l1.-The objects and purposes
for which this corporation is organized and
created and the nature of the business to
be carried on by 1t are declared to be as
follows: To engage in brokerage and
commission business; to buy and sell. at
wholesale and retail, or otherwise acquire
and dispose of, import and export, and
generally to trade and deal in goods
wares, products, commodities and mer-
VI every hlHu ana description
principal and, or agent and, or broker
To act as agent and broker on commission
or otherwise in buying and selling or
otherwise acquiring and disposing of. i'm
porting and exporting, dealing and trad
ing in said goods, wares products com
modities and merchandise; and generally
to to and perform all things pertinent and
necessary to carry out and execute the OBJ
Jects and purposes herein above enume-
rated.
ARTICLE Iv.-The capital stock of this
corporation is hereby fxed at the sum of
twenty thousand $50 OO0.OO) dollars. and
shall be divided into and represented by
two hundred (200) shares of common
stock, of the par value of one hundred
(S100.00) dollars each. Said stock shall
be paid for in cash. or by property or
services actually rendered to the corpora
ton, or other equivalent of cash as pro-
vfded by law, and in such manner and
at such times and in such installments as
may be prescribed by the Board of Di-
rectors. This corporation shall become a
going concern and shall be authorized to
commence business as soon as fifty per
cent of its capital stock shall have been
subscribed for shall in fact have been paid
for either in cash or its equivalent.
ARTICLE V.--The capital stock of this
corporation may be increased to the sum
of fifty thousand (s50,O0O.O0) dollars by
a vote of twO-thirds of all the stock pres
ent or represented at a special meeting
called for that purpose or at a regular
annual meeting of the corporation.
ARTICLE VI-All certificates of stock
issued by this corporation shall be signed
by the President and countersigned by
the Vice President. or if authorized by
resolution of the Board of Directors, shall
be signed by the President and counter
signed by the Secretary and Treasurer
The stock of this corporation can be
transferred only on the books of the cor
nnrntinn m nlati ri &c
and formalities as may be by the Board
of Directors from time to time prescribed
No stakeholder shall be permitted to sell
or otherwise dispose of his stock without
first offering the same in writing to the
other stockholders through the Board OF
Directors at a price not exceeding the
book value thereof; and said stockholders
in proportion to their holdings, shall have
an option and first right to purchase all
the shares of stock to be thus disposed
Of by sails or otherwise of any of the
stockholders, and shall have a period of
ten days in which to accept or decline
said offer. Should the stockholders de-
cline to purchase said stock, then such
stakeholder is at liberty to sell or dispose
of the stock, and may do so in any man.
ner and at any price he may deem ht
each share of stock is issued herein upon
the condition and understanding that NO
stockholder shall sell or otherwise trans
fer his stock in violation hereof, and any
such sale or transfer II made shall be
void, and this corporation shall be under
no obligation to list said stock on its books
or to regard the holder of the certificate
thereof,
ARTICLE VII.-The corporate powers
OF this corporation shall be vested in and
exercised by Board of five Directors
three of whom shall constitute quorum
for the transaction of business. The Di-
rectors of this corporation may vote In
person or by written or Geographic proxy
at any of the meetings of the Board OF
Directors; and the Board of Directors may
delegate any Of its powers to any officer
the corporation by appropriate resolution
to that effect. The first Board of Direc-
tors of this corporation shall be composed
of the following: Sam Israel, President
Achille Israel, Vice President; Karl NJ
Gutmann. Secretary Treasurer; Leon
Israel, Frank J. McKenna. and they shall
serve until the second Wednesday Of JAN
uary, 1921, or until their successors are
elected and qualified. The Directors shall
be elected annually at a meeting held on
the second Wednesday of January in each
meeting shall be given ten days prior tC
the date of said meeting, in writing. sent
by registered mail to each stakeholder al
his last known place of residence. The
Board of Directors may change the date
of said annual meeting to any other date
by written notice to that effect, sent al
least fifteen days prior to the date tt
which said annual meeting shall be chang.
ed, directed by registered mail to each
stakeholder at his last known place OF
residence. Each stakeholder SHALL at such
annual meeting or other meeting, general
or special, he entitled in person or by
wriffnn ~ FOL NH 4a e