The herald., 1919-12-04
CHARTER.

| corporation snail De The Shelc0te Man
ufacturing Co., Inc," and under this
name it shall have succession for a period
| of ninety-nine years from this date and
shall have and enjoy all the rights and
| privileges granted by law to corporations
1t shall have 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 have, hold
receive, acquire, purchase, convey, mort
| gage, hypothecate or pledge property both
real and personal; to issue bonds, notes
| and other obligations; to have, employ
and appoint such directors, officers, agents
and employees as may be required; to
make such bylaws, rules and regulations
as may be deemed proper and requisite
| for the management of the corporation
and the control of its affairs.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans, State of Louisiana, and all citation
| and other legal process shall be served
| on the President, and in his absence on
| the Secretary of the company.
ARTICLE III-The objects and pur-
poses for which this corporation is form
ed and the nature of the business to be
carried on by it are hereby declared to be
to manufacture, buy, sell and deal in roof.
ing and roofing materials; to do a general
contracting business for roofing and for
the use and application of same, and to
engage in any other manufacturing, in
duStrial, commercial or mercantile bust
ness in which said corporation or the di-
rectors thereof may desire to embark, and
generally to do and perform any and all
things connected with or incidental to the
purposes of said company.
ARTICLE IV-The capital stock of this
corporation is hereby fixed, at the sum of
two hundred thousand dollars ($2OO, OOO),
divided into two thousand shares of ths
par value of one hundred dollars (S1OO)
each; all stock subscribed for shall be is
Sued Tor cash or its equivalent, or for
iaDor done or property received, and I'M
ger such regulations and terms and con-
ditions as the Board of Directors may de-
termine; all stock when issued shall be
Iully paid and worcestershire; no trans
fer of stock shall be binding upon the cor
p1ratlon unless made upon its books; and
an certlhcates of stock shall be signed BY
the President and the Secretary. The
capital stock Of this corporation NAV he
increased to the amount of three hundred
i dollars ($30O0OO) when author
yea at meeting of the stockholders TO
be held in conformity with law.
The capital stock of this corporation
shall consist Of two separate classes COM
mon and preferred stock.
Preferred Stock-The portion with ;s
preferred stock shall be one hn Idred thou
sand dollars ($100O00). represented by one
tnonsand u,OOO) shares of the par value
of one hundred dollars each. The nre
ferred stock shall be entitled to a fixed
dividend of eight ~ per cent per annum
payable quarterly on the first day of Jan
uary' April, July and October of each
stock shall be paid before any dividend
Whatever shall be paid on the common
STOCK. This corporation shall have the
rget TO retire all or any part Of the said
PreieIred STOCK at any interest payment
period by giving sixty days notice and nv
paying the face value thereof, pIus a nre,
MUM OF one O per cent for each wear or
p pats Oh year that said stock has been
OF the issue of said stock, and thereafte,
tne corporation may retire all or any mart
or said preferred stock by giving the mar
value nar thereof plus a premium of FIVE Isl
per cent thereof. Not less than five ner
cent of said stock may be retired witb;n
nve years from the date Of issue and five
per cent thereof may be retired each 80
thereafter until all of said stock is retired
In the event that the quarterly diyf.
d dends are not promptly paid at any divi-
ninety days. then upon the written do
mand or a majority in amount Of said
preferred stock, the preferred stockbojd-
ers snail cali a special meeting of said
erecting three members as n BOARD ~ nj;
Iectors OF this corporation, who shall ba-
gin at once the performance of their dn-
noSe as directors and shall have all the
e.orporauon and shall hold Office for
term OF one year, until their succeSsors
snan De elected. and thereafter said di.
stocIb S 10 De se CHOSEN by the preferred
provided that they shall cease 70 bnii
once II default in dividend navmauts
snail cease; provided, however. II dafon,t
pen prsm e EMS OF dividends shall be due to
lustriai suspensions or war. this r;0b. ~
rect directors shall not be exercised
All ret1rements of preferred stoct sb.u
~ ~ lot; all dividends on the preferred
i iesiens sha n be payable at bank to be
me funds therefor shall he danos;ts, aHa
N saId Dank prior to dividend main rit;as
70 dividends shall be paid on tho comrao
stock until the preferred stock diyidenJs
,o.r Inc holders or owners of the said pre-
erred stock shall have no right fo boia
omce in this corporation or To vote %.
,mcers or directors of same. or Tn vote on
tuesSons Derore stockholders meetings
.acept IN the event of default in dividend
pay "ents as above provided for.
. Common Stock-The portion Of The con
tai stock which is common stoct shar p
1eeos sun I'm, OF one hundred thousand dollars
ISSi onctl' represented by one tbonsanS
,IUVJ shares OF the par value OF one hnn.
1fed dollars ($10O) each.
II II an or the preferred stock is retired
snalI consist of the amount represantn aH IN
=. ne common stock, and the holders there.
d snail then have fun control ana rnar
ieement OF the affairs Of this cornorat;on
III anis corporation shall engage in bus,.
a ,esS when nifty per cent Of the can;taI
,tock mas been subscribed for and Nftn
been paid in. ior mas
AhhIICLE V-All the CORPORATE nowars
:, tnis company shall be vested in ana AZ
,haIi asement and control of its afyairs /
'han pe exercised by a board of pof las
.h Inree nor more than five directo,s
- snail De stockholders; two memhors
o. s th poard shall constitute a ouornn
.ectorS sh ramnsaction OF business. The d.
eeeors snail be elected annuaIlv hv hi
OF on the first Monday in the moy.h pal
annary in each year: each stnoShnis VI
mail De entitled in person or by nroxv ta
i'm o'e ior every share of stock owned nv
MI, anu all elections shall be held nndcy |
I'LL ~-n ruies and regulations as NAV he Jo
;ytnan nea Dy the Board Of Directors afte-
,tooSh Isys written notice by mail IN aoch
moider, addressed to his last known
ont;nma Inc directors thus elected shall
In Office for one wear ~ nnai,
neir successors shall have bse ~, InuI
,e eted ana qualified, and no faiIuro
he snan De regarded as a forfeiture ~
aiS Sarer' any vacancies occurrino ~
n n,u uoaId shall be filled by the ro,SS.,
81, utrectors Tor the unexpired term ans
oau, h uoard shall likewise elect addit,onay,
bnSiS 70 said board in case the,
nmher u ~ &c advisable to increase fhe
4 its erst saId board; said board shall
nate nnt meeetlng after it's election nom.
W. resident and a Secretary Treasnr.. q
a a.u noard may divide the ONCE of &c.,
AZ Treasurer. and elect a Secrefarv wh
~ not De director: anv dfrocfo, |