The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-03
CHARTER OF MISSISSIPPI SHIPPING
C0MpANY INC

United States OF America, State OF Louis
lana. Parish of Orleans Be it known, that
on this 9th day OF the month OF March,
IN the year OF Lord, one thousand, nine
! hundred and nineteen. Before me, Henry
F. Dart, Jr., a Notary Public, duly commis-
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 hereuutO subscribed,
who declared that they 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 10 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 stipulatons and agreements
| hereinafter set forth and expressed, which
they hereby adopt 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
10 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
Tor which tins corporation is organized and
the nature of the business to be carried on
by it are hereby declared to be:
Osp To engage IN and carry a steam
ship business; to own, control and acquire by
lease, charter purchase, construct other
wise acquire steamboats,, sailing vessels,
tugs, bargeS, lighters, vessels and water
craft of all kinds, or interests therein, and
10 operate same for the transportation OF
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 herewith; 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 snip-building, 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 convent
/ 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 any part of the
| property, rights, franchises and privileges
I
| 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.
| ed 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.
| poratIon may be authorized to engage OF
| the ownership of whose securities would be
| advantageous or convenient In the protec.
ton or promotion OF any OF the purposes OF
| interests of this corporation, but only to the
extent authorized by the laws of the State
| OF Louisiana.
ODD 10 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 or corporation, and in any
part OF the world; and in carrying on its
| business and for the purpose of attaining OF
| turtherng any of its objects, to make and
perform such contracts of any kind and de
| scriptlon, to do such acts and things, and &c
| exercise any and all powers as a natural
person would lawfully make perform, do Oh
| otherwise, provided the same be not incon
sIstent with the laws under which this cor
poration is organized
ARTICLE IIl.-The capital stock of thi:
corporation is hereby fixed at the sum Of
| blC lnDuSdnu DOlldrS
| divided into one thousand shares of the pai
| value of one hundred dollars (Sl0OOO each
payable in cash and the capital stock may
be increased hereafter to the sum of One
| Million Dollars. No sale or transfer of thi.
stock shall be recognized by the corporation
unless and until said stock shall have beer
| first offered IN writing 10 the corporation
| al ITS book value, as shown by the last an
nual statement, for the use and benefit Of
other stockholders, who are hereby granted
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
Ter shall have been made. The right and
the rights conferred in this article of the
charter shall follow the stock into whosoeveI
hands II may CO. Failure Of the holder OF
possessor of the certificatae of stock to pro
duce or deliver same shall authorize tht
corporation to receive in trust the price
! thereof, to cancel such outstanding cert
! ficates the books of the corporation anc
issue new certificates therefor. The stocl
SO purchased shall be divided among the re
| naming stockholders in proportion to thei
several holdings and upon payment of tn,
price thereof. Any such stock not desired
by any stakeholder or stockholders shall bt
divided pro rata among the balance of tn,
agent of the stockholders specially empow
cred through its Board of Directors, to en-
force and carry out all Of the foregoing pro
visions regarding stock in this corporation
| l ne substance OF these provisions of til,
| Charter shall be stated briefly and succinctl,
upon the face of each certificate of stool
and shall be conclusive notice to all person.
dealing Herewith.
ARTICLE 1V.-,All the corporate power
shall be vested in and exercised by a BoarC
Of Directors made up of seven stockholders
four of whom shall constitute a quorum 70
transacting all business Said Board ma,
adopt bylaws. rules and regulations for tn,
government of the business and affairs o
the company, and may alter, amend anc
change the same at pleasure. 1t may ap
point. hire and discharge all officers agents
and employees, fix all salaries and gener
ally do and perform all things necessary TO
the transaction of the business and affair
of the corporation. Any Directors ntendin.
to be absent temporarily may be represent
ed by written proxy filed with the BoarC
and notified TO the President Vacancfe
occurring in the Board shall be filled BY il
The first Board of Directors shall be com
4 posed OF NJ. J. Sanders, New Orleans, La.
7. F. Cunningham, New Orleans. La; R
5: Hecht. New Orleans, La; Theodore Brent
New Orleans, La; VIM. B. Burkenroad
New Orleans, La; George Westfeldt, New
Orleans, la; VIM. P. Ross. New Orleans
La; and they shall hold office until thu
first Monday following the first Sunday ir
May, 1920, and until their successors are
duly elected and qualified. The officers Of
the company are hereby declared 10 b. .