The herald. [volume] (New Orleans, La.) 1905-1953, 1919-12-25
CHARTER OF THE COONS SILO AND
BUILDING CO., INC.

CHARTER OF THE COONS SILO AND
| BUILDING CO., INC.
United States of America, State of Louis
! lana, Parish of Orleans. BE ii known, that
on this 4th day of the month of Deem
| Der, in the year Of our Lord, one thous-
and, nine hundred and nineteen, and in
the Independence of the United States OF
America, the one hundred and forty
| fourth, before me, Percival II. Stern. a
| notary public, in and for the Parish of Or
leans, State of Louisiana, duly qualified
| and commissioned, and in the presence of
the witnesses hereinafter named and IN
derSigned, personally came and appeared
| the several persons whose names are here
unto subscribed, who Seyerally declared
| that ayailing themselves of the laws OF
the State of Louisiana, relative TO the or.
ganization of corporations, and more par
tlcularly Act No. 26I of the year 1914, ap-
proved July 8, 1914, they have conyenanted
ana agreed, and do by these presents
covenant and agree, bind, form and con-
stltute themselves as well as such persons
sociated with them, into a corporation
and body polite in law, for the objects
ana purposes and under the agreements
and stipulations following, to-wit:
ARTICLE 1.-The name and style of
TINS corporation shall be "Coons Cypress
olio and Lumber Company, incorporated"
and under that name il shall have and on
JOY all the rights and privileges granted
Dy law to corporations; it shall exist for
the period OF ninety nine years from this
10y 10y ~ snall nave the power to contract
sue and be sued in its corporate name: to
make and use corporate seal and the
same to break or alter at pleasure. to
hold, receive, purchase, convey, mortgage
~ p2oIneeate, or pledge, property, both
real and personal; to issue bonds notes
and other obligations or negotiable in
strumeDts, 10 have and employ such man
dSers, directors officers, agents or other
employees as the interest and convenience
OF said corporation NAV reouire or 10
mand; to make and establish sucb br
idWs, rules and regulations for tba cor-
p Sr management and cnutrol of tho
"a i'ir I vi the corporation as may be deem
ed eApedlent and necessary.
ARTICLE 1.-THE domicile of SOLD no.
poratlon shall be established in the or,
VI view orleans, State of Louisiana anI
az az enalIohs ana other legal process shall
oe served on the President. and in cas-
in caSo nf ne on the Nfce-President and
rotary. 0'n vi the Sec
ARTICLE l1I.-The objects and mr.
poses for which this corporation is Or
canned, and the nature of the business
~ ~ pe carried on by it are hereby declared
70 pc: 10 construct silos, buildings and
houses and articles of every description
rum cypress and from such other kind
Oh lumber and materials as may be nee
essay, ana to sell, lease, transfer and
equip and erect, or to contract for tba
construction, equipment and erection Of
siios, houses and buildings and art;c,os
VI every description and kind in their
tail fron, anu IN every particular and de-
Tan from cypress and such other kinds Of
lumber and materials as NAV ha nacoo
iSary, ana generally to buy, sell and des,
IN lumber and to manufacture and martat
ieaso PRODUCTS; to buy, sell, deal in
lease and mortgage real estate 70 -. H.
eialm and improve landed pronertv re
generally to do and engage in anv ot Inu
business, undertaking or enternriSo on,,
inei tG w1t1 ?, growing out of, germane or
set forth - any OF the purposes above
'n. or contemplated by this charter
ARTICLE IV.-The capital stock of This
corporation is fixed at the sum of two
hundred thousand $500 OOOOO dollars. di.
Viued INTO one thousand common shares
VI tne par value Of one hundred dollars
each; and one thousand preferred shares
or the par value of one hundred doIiar
eacn all shares Of stock shall he fnII
PAID Tor In cash, property or good will
1 unuer sueh terms and conditions as the
De worcestershire. 'H"'
The preferred stock shall be preferred
as to earnings up to a maximum of eight
(S) per cent annual dividends payable
semi-annually, which shall be paid before
any dividends are paid on the common
| stock. The common stock shall then be
paid dividend up to a maximum of
eight (S) per cent.
The intent Of the above clause is that
no dividend is to be paid on the common
STOCK until and unless, the eight per cent
year on the preferred stock.
ANY further dividends declared are IA
De shared equally by the common and
preferred stock. Both classes of stock.
Mltn Ine exception of the preference in
dividends accorded to the preferred stock
uhuer the provisions of this article shall
be On parity in all things relating TO or
a1ectlng this corporation, shall have the
right to participate in corporate meet
lngs and are accorded equal voting yajue
The capital stock of this cornoration
may be increased to five hundred Thousand
dollars, of either common or preferred
STOCK or partly of both kinds.
ARTICLE V.-All the corporate powers
| of this company shall be vested in, and
the management and control of its affairs
| rectOrs composed of seven stockholders
the membership of which may be increased
to number not exceeding eleven by the
Board of Directors at any of its regular
meetings. majority of the Board of
Directors shall constitute a quorum for
the transaction of its business The di-
| rectors shall be elected by ballot annually
on the second Tuesday in January, in each
year. Each stakeholder shall be entitled
IN person or by proxy to a vote for
shall be held under such rules and regu-
Iations as may be determined by the
Board of Directors after fifteen days
notice by mail sent to each stakeholder
at his last known address The directors
thus elected shall continue in Office for
one year or until their successors have
been duly qualified. No failure to elect
directors for the unexpired term. The
said Board shall likewise elect such addi-
tionai members in case they determine to