The herald. [volume] (New Orleans, La.) 1905-1953, 1919-06-19
CHARTER

| CHARIER
by it, are to buy, manufacture. compound
sell, handle and otherwise deal in all xmas
of chemical products; TO do all things inci-
! dental to said business; and to employ and
use such means and instrunentalitics as
may be useful, necessary or convenient foI
| the conduct of the affairs and business or
this corporation.
ARTICLE IV.-The capital stock of this
! CORPORATION shall be Five Thousand tS5OQDOU
Dollars, divided into fifty $50 shares OF
| the par value Of $4,000 each, and may be
| increased to the sum OF Twenty-Five Thou.
| sand tS25OooOO Dollars, divided into Two
hundred fifty (250) shares OF the par value
! be a going concern when oue-half OF the
| capital stock has been subscribed Tor Each
snare OF stock shall be entitled to one vor"
either in person or by proxy, al all general
| Should the capital stock OF this corporation
| ever be increased over the sum OF Five Thou
sand 100000 Dollars, then such additional
shares of stock that may be issued shall first
! be offered to the holders of stock at the
time OF issuance at the book value Of said
new stock in the proportion in which the
said stockholders shall at the TING OF is.
| suanCe hold stock in this corporation.
| ARTICLE N.-No stakeholder shall ever be
| held liable responsible for the indebted
| ness, faults defaults Of this corporation.
| nor shall any mere informality in the
gamzdton OF the corporation have the effect
| OF rendering the charter null Of exposing
| the stockholders to any liability beyond the
unpaid balance, IT any, on his stock sub
scrlption. Should any stakeholder desire to
| sell his stock he shall first offer the same
| to the stockholders of the company at 1t,
| book value through its board OF directors
and the stockholders who desire to purchase
| shall have the right TO purchase the same
| in the proportion to their holdings of stock
| in the company. Should said stockholders
| in fifteen days after the notice having been
gwen, in writing fail or refuse to purchase
the stock offered for sale, such stock may
be sold to any one. No transfer of stock
shall be made or held to be valid and bind.
| ing unless made in pursuance of the pro
visions OF this charter.
ARTICLE NI.-This corporation shall have
all powers granted 20 such corporations by
law and shall have the power to contract.
sue and be sued in its corporate name and
to own, hold, receive. loan, lease purchase.
sell and convey or mortgage any and all Of
ITS effects or to hypothecate its property
and to do any and all acts and things of any
other kind, nature description, as may
be necessary to carry out the objects and
purposes Of said business as its interests and
conveniences may require.
ARTICLE NlI.-The business of this cor
pOration shall be directed by and vested IN
board of directors of three members, two
transaction of business, and the said direc-
tors as first constituted shall be John T.
Logan, John ID. Bailey and John Davidson
and they. shall hold office until the first
tuesday, IN May, l92O, and that day and
on the same day thereafter elections shall
be held annually for the directors at the
principal office OF the corporation. Failure
to hold an election the day specified
directors in office shall hold their respec-
tive offices until election shall be held
after thirty days notice of the time and
place thereof given to each stakeholder. The
annual annual election shall be held on the first
Tuesday of May, 1920 and thereafter on the
first Tuesday of May of each succeeding
year. and the election shall be held between
the hours of ten and twelve a. NJ All va
cancIes on the board OF directors for what
ever cause shall be filled by the remaining
directors. John I. Logan shall be the first
president, John Davidson shall be the first
vice-president and John D. Bailey shall be
hold office until the first Tuesday in May.
1870, or until their successors are elected,
and each succeeding board of directors shall
elect its principal officers for the term of
their election and only stockholders shall
be eligible for election a member of the
board of directors. Directors may act either
in person or by proxy.
ARTICLE N11I.-Whenever this corpora
any other cause, its affairs shall be liqui.
dated by the board of directors, who are
hereby vested with full power to sell any
or all assets of the corporation, either sepa-
rately or in mass, and to convey. full and
complete title thereto, and shall have full
power to do and perform all acts neces-
sary and proper to fully and completely IL
quidate the affairs and distribute the pro-
ceeds, if any, among the stockholders of the
said corporation to the amount of stock held
by each
ARTICLE IX-This act of incorporation
may be amended, altered and modified or
this corporation dissolved in the manner pro-
vided by law
Thus done and passed, in my notarial Of
flee, in the City of New Orleans, on the
day, month and year first above written, in
the presence of Azelie Bennett and Ruth
NJ. Seller, competent witnesses, who have
hereunto signed their names, together with
the parties hereto and me, Notary, after
reading of the whole.
Witnesses: Azelie Bennett, Ruth NJ
Seller.
Original Signed John T. Logan. "A
shares, Texarkana, Ark; J. d. Bailey. "a
shares, $40 Carondelet ST., New Orleans La;
John Davidson, shares, $40 Carondelet ST.,
New Orleans, La.
A. A. MORENO,
Notary Public.
l, the undersigned, Recorder of Mortgages.
in and for the Parish of Orleans, State of
Louisiana, do hereby certify that the Act of
Incorporation of the Lightning Chemical
Co., Inc, was this day duly recorded in my
office in Book 1928, Folio SO.
New Orleans, June 9TH, 1919
(Signed) EMILE J. LEONARD, by. r.
true copy.
A. A. MORENO.
Notary Public.