The herald., 1919-06-05
CHARTER OF JAHNCKE DRY DOCK &
SHIP REPAIR COMPANY, INC.

lana, Parish of Orleans, City OF New Or
leans. Be it known, that on this 9TH day
of the month of March, in the year one
thousand nine hundred and nineteen, before
me, Henry p. Dart, Jr., Notary Public, duly
comm ssioned and sworn in and for the Par
sh of Orleans and City of New Orleans,
therein residing, personally appeared the
persons whose names are hereunto SUD
scribed, who declared that, availing them
selves of the provisions of the laws OF the
State, relative to the organization of cor
pOrations, they have covenanted 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 become associated with them
into a corporation and body polite in law
for the objects and purposes and under the
agreements and stipulations following, to-
wit:
ARTICLE 1.-The name and title of this
corporation shall be Jahncke Dry Dock *
Ship Repair Company. Inc, and under this
| name il shall have and enjoy all the nights,
advantages and privileges granted by law
| TO corporations; it shall exist for period
| of ninety nine years; it shall have power to
| contract sue and be sued in its corporate
name; to make and corporate seal, and
| the same TO break or alter at pleasure; TO
hold. receive, purchase, convey, mortgage,
| hypcthecate or pledge property, both real
| and personal: to issue bonds, notes, and other
obligations; to have and employ managers
| directors, officers, agents and other EN-.
ployees, as the interests and convenience OF
| said corporation may require; and TO make
and establish such bylaws, rules and regu-
lations for the corporate management and
control Of the affairs of said corporation, as
may be deemed necessary and expedient.
ARTICLE 1.-THE domicile of said cor
poration shall be in the City of New Or
| leans, in this State, and citation and other
legal process shall be served on the presl-
dent and in his absence, the vice -presl-
In, pf he de-
of this corporation, or in the event OF ms
inability to act as SUCH his duties and func-
tions 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 carried on
by it are hereby declared to be: 10 con-
struct, purchase, charter, lease, hire or other
wise acquire, and to mann, equip, MAINTAIN
and operate, steamships, steamboats,, tow
boats, ferry boats, sailing vessels, barges
and other water craft of whatever descrip-
ton, for transportation and towage Of
freight and passengers for hire, and to en-
gage in a general transportation business,
upon and between places on rivers, lakes,
| bays and other waters and upon the high
seas, and to ports and places in foreign
| countries, ana to carry on a general express
business in connection with the operation OF
| said vessels; to construct, purchase, lease,
| hire or otherwise acquire warehouses, land
facilities and to improve navigation or rlv-
ers, bayous, and other waters, as the BUSH
| ness Of the company may require; to con.
| struct, hire, lease or otherwise acquire and
| to operate dry docks and floating docks
suitable for handling and repairing vessels,
and to build, rebuild and repair vessels of
| every description; to construct. purchase,
| hire, lease otherwise acquire, and to
trucks, teams and vehicles of every nature
and description for the transportation of
| freight and passengers, to and from the
| landing places of the vessels operated by
| said company, and such other points as the
Board of Directors may from time to time
determine to be necessary for the business
of said company; and generally to do and
perform all things germane as incidental to
or usual in the business and affairs herein
| above authorized.
corporation is hereby fixed at the OF
| two hundred and fifty thousand dollars
(S250,0O0.0O divided into two thousand five
hundred shares OF the par value of one hun
dred dollars each, which shares shall be paid
| for in cash or in the purchase of property,
and the said capital stock may. be increased
to the sum of one million dollars additional.
All shares of stoclS shall be full paid and
| worcestershire. No transfer of stock shall
be binding upon the corporation unless made
upon its books and all certificates of stock
shall be signed by such officers may be
designated by the Board of Directors. All
stock in this corporation shall be held upon
a condition precedent and under contract and
| agreement in the nature of vested rights
that all such stock is so held and possessed
subject to the rules and provisions for the
transfer of same hereinafter set out, to-wit:
| % No sale or other transfer of shares
| of stock in this corporation shall be valid
until and unless the opportunity has been
| first afforded the stockholders Of record al
| the date of such transfer sale or other allie
nation to purchase such stock at book value,
plus twenty-five per cent, the value to be
! ascertained in the manner herein prescribed
| The right to acquire said stock hereby vest
ed in the other stockholders Of record shall
follow the stock into any hands to which il
may pass and may be exercised against the
| holders thereof within ninety days from the
time any sale or transfer has been Offered
| to be entered on the books of the corpora
| ton. 1t shall be the duty of any holder
of stock in this corporation who intends OF
desires to sell, transfer, ALLEVIATE or otherwise
| dispose of same to give ten days written no
| tice of such intention or desire to the Board
hereby constituted agents of the said stock
holders for the purpose of such notice and
| said Board of Directors shall give immediate
information thereof, in writing, to all the
other stockholders of record. Before the ex-
| piration of the ten days from the receipt OF
said notice by the Board of Directors any
| shareholder of record may offer to purchase
and may acquire the right to purchase, said
| stock by notifying the Board of Directors in
writing and thereafter shall deposit the price
of said stock in cash with the corporation
on before the expiration of eighty days
from the last mentioned date.
| Upon the receipt of the first mentioned
notice, the Board of Directors shall advise
the person owning said stock, his agent OF
| representative, to join with said Board in
fixing the value of said stock, which value
| shall be established on the basis of the last
annual semi-annual statement report
of the corporation and the last monthly trial
balance preceding the date of such notice
and the value thus found and established
| shall constitute the value and price of said
| stock. If within twenty four hours after
such notice, the owner, his agent or repre-
| sentative, does not join with 'the Board in
| establishing the price of value of the stock
| the Board may proceed without further de-
| lay to fix the said value, using the report
and trial balance aforesaid for that pur-
pose, which writings are declared to be con-
elusive evidence for and against all parties
in interest in the premises. whether the
value is established by the joint act of the
owner, his agent, widow, heir or representa-
| tive of by the Board of Directors acting in
default of the cooperation said person or
persons. Upon receipt of the offer or &C.
stock and upon obtaining guarantee salts
factory to said Board for the price thereof
| the Board of Directors shall thereupon give
notice thereof TO the owner of the stock, his
| agent or representative, and before the ex-
piration of the period Of eighty days afore-
| said shall call in the certificate certifi-
Gates representing such stock and pay the
price or value thereof and cause the same
| to be transferred on the books of the pur-