The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-24
CHARTER
government of the affairs of said corpora
ton as NAV be necessary and proper:


absence or inability TO act, then they snail
be served upon the Vice President, who IS
acting President, OF said corporation, and IN
the event OF his absence Of inability to act
then upon the Secretary Treasurer.
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: to own,
possess. lease, sell, operate and work mines
OF any and all kinds and 10 own, lease,
suitcase, buy and sell lands, timber, tur-
pentiue, turpeutIne stills, sawmIllS, planlUg
mills, etc; and all the by-products Of tim
Der; to operate, establish and lease turpen-
tine stills anything connected Herewith;
TO own, build. operate and lease railroads,
tram-wayS, steam vessels, sailing vessels,
or any nature OF water craft that may be
necessary in connection with its business,
and TO operate, sell or lease same; TO en-
gage in conduct a general mercantile
business, both wholesale and retail, at any
point points desired. and to operate, buy,
sell or lease same; to manufacture machinery
or any kind OF implements; TO conduct, buy,
sell, lease or deal in agricultural property
10 engage in the raising of live stock, to
deal in same; and TO operate, own or lease
any kind OF manufacturing plant or bust
ness, not specially prohibited by law; to act
as Agent or AttoTney-in-faCt for individuals
or corporations, and as such to conduct any
kind OF business for persons or corporations,
and buy and sell on commission or otherwise,
and conduct a general mission business
and generally TO do and perform any and
all acts or business not contrary to the
laws of the State Of Louisiana; and all the
rights herein granted may be exercised. and
business conducted at any place or places
that the said company may fit TO do.
without any restrictions whatever as to
States Countries.
| ARTICLE IN.-The capital stock OF this
corporation is hereby fixed at the sum of
Fifty Thousand Dollars ($50n0OO. divided
INTO five hundred $500 shares OF One Hun
dred Dollars $4,000 each. which said
stock shall be paid for in cash or its equiva-
lent, at such time and in such manner as
the Board Of Directors may determine. or
may be issued At par in payment Of property
, ! actually purchased and such stock 50 is
sued shall be full paid and non -assessabe.
All in conformity with and under the re-
) | StrlctonS OF the presently existing corporate
laws of Louisiana. This corporation shall
be authorized to commense business and be
going concern as soon as fifty per cent
t5Oto) OF its capital stock is subscribed and
paid for. The shares of stock shall be
transferable only on the books of the cor
: poration and no transfer Of stock shall be
: binding or have any effect on this corpora
ton unless and until made upon its books
The capital stock of this corporation may b,
increased to an amount of One Hundred Thou
sand Dollars (Sl00OOOOO Dy a vote of two
thirds OF all the outstanding stock at
e meeting of the stockholders called for tina
= purpose IN the same manner as provided 70
: ! the meeting 10 elect Directors
u ARTICLE N.-All Of the corporate power
i of said corporation shall be vested in an,
e exercised by Board Of Directors compose,
d of not less than three nor more than fv,
/ stockholders. Said Directors shall be elect
/ ed annually the third Monday in Janu
: airy, in each year at general stockholders
meeting, except the first Board. appointed il
c this Charter, who shall hold their office
5. until the third Monday in January 1926
d and until their successors are elected.
Il All such elections shall be held by ballO
o and conducted at the office Of the corpora
/ ton. Notice Of such meeting and of all othe
u stockholders meetings shall be given in tn
Il manner prescribed by law. and when not :
/ prescribed, then written notice of such meet
4 ings shall be deposited, at least fifteen rs
y days prior to the date of such meeting. i
e the post office of the City of New Orleans
II addressed to each stockholder at his las
e known residence or place of business.
/ At all such elections and at all corporal
2 meetings every stakeholder shall be entitle
/ to one IN vote for each share of stock stand
}, ing in his name on the books of the corpora
al ton. to be cast by him in person or by hi
e written proxy, and a majority of the vote
+ cast shall elect Any vacancy occurrin
re among the directors BY death. resignation o
u otherwise, shall be filled by election 70
4, the unexpired term by the remaining dircC
Al tors. A failure to elect directors on I'll
day above specified shall not dissolve tn
y corporation nor impair its corporate exist
lie in office shall remain in office until thei
E. successors are elected and qualified
l. The Board OF Directors shall elect Presi
l. dent. and or more Nice-PresdentS, an
lie Secretary Treasurer. The President an
IT Vice Presidents shall be stockholders an
h Directors of the Corporation, but the Secre
y tary Treasurer may or may not be Dl
I; rector stakeholder, at the discretion Q
Ia the Board OF Directors. The number of Di
N rectors shall be determined by the stock
At aCb nd he
II Der of Vice Presidents shall be determine
T each year by the Board of Directors.
Of The Board of Directors shall have powe
!, and authority to appoint such agents man
y ayers, officers and otstr employees neces
IN sary in their judgment to conduct the bus
ness of the Corporation, and to give to sue
agents, managers, officers and other en-
lie plOyees as much authority they ma
u, u, deem necessary for the purposes and bus
III ness of the Corporation. The Board sha
nc have the power to fix the compensations an
az define the duties of every officer and en-
=. ployee and all agents. managers. officer
te and other employees shall hold office an
n employment at the pleasure of said Board.
~ The Board may make and establish,
Nc well alter and amend, any and all by
= laws, rules and regulations necessary an
proper in its judgment for the conduct, SUI
w port and management of the business an
ne affairs of said corporation. At all meeting
en- of the Board of Directors each director sha
gh have the right to appoint a proxy to az
es in his place and stead. the person SO appon
no ed need not be a Director but must be
Id stakeholder.
ng The Board shall have full power and a,
thOrity to borrow money, execute mortgage
J, and create liens; to issue bonds notes an
other obligations and to secure the sam
by mortgages, pledges otherwise land, gel
orally to do any and all things REASONABLE
convenient and necessary for the proper ca
rying on of the business and affairs
.s said corporation. The first Board of D
nf rectors shall be composed of Walter b. Gil
We lican, Buckner Chipley, and Lynn H. Dill
n. kins, whose present addresses are set opp
a. site their respective names to the subscril
If. ton to the capital stock of this corporation
The Board of Directors shall at its fir.
meeting elect the officers of this Corpor;
tion, in accord with the terms of this Cha
ter.
ARTICLE VI.-Whenever this corporato
ng shall be dissolved, either by limitation
IL from any other cause, its affairs shall |
liquidated by three commissioners to be al
pointed from amongst the stockholders
4 general meeting of the stockholders col
vened for such purpose; two-thirds in amour
- of the capital stock of said corporation rel
resented at said meeting shall be requests
to elect. Said commissioners shall renal
in office until the affairs of said corporatio
IS shall have been fully liquidated. In cas-
'r- OF the death of or more of the COMM
IN sioners, the vacancy or vacancies shall
OF nlled by election by the surviving con
nd Inissioners. Said commissioners shall ha,
oil