The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-15
CHARTER.

i
nor shall any mere iufurmality in organ
iZatiOu have the effect OF rendering this
charter null, or of exposing aHy stock
holder to any liability whatever. This
corporation shall not engage in business
until Five thousand tSjUUUUUI dollars or
fifty tIU) shares of III" capital stock shalt
have been issued and actually paid in,
either in cash. property or services rcudvr-
ed as aforesaid II amy of the stock of
this corporation i exchanged either in
whole or in part for property or good
will the provisions of Section OF Act
Pa of 1914 shall be complied With strictly.
ARTICLE N.-Ail tn" corporate powers
of this corporation shall bc vested in and
exercised by Board OF Directors com
posed of three stockholders. each OF
whom shall own in his own right. during
his term of office at least one fun paid
share of stock, two of whom shall con
Stituic quorum Tor the transaction of
all business. The officers OF this CORPORA
ton shall consist of a President, Vice
President, aud Il Secretary Treasurer, ar
of whom shall b. members of the Board
of Directors. The following named per
sons shall constitute the first Board Of
Directors. to-wit. Thomas J. DugEau resi-
denCe, lJ4I Sixth Street, business address,
$40 Haronnc street. New Orleans, La,
Edward L. Joyce, &3t Hillary street, New
Orleans. La; James l.. PuGdud, 1914
SOniat Street, New Orleans, La, with
Thomas J. puggam. President; Edward J..
Joyce. Nice-rrr>ident aud James l..
Pagaud, Secretary Treasurer, aud Theses
directors and Officers shall hold office
until the second Monday Of April 1920,
or until their Successors are duly elected
and qualified. Thereafter the directors
shall bee elected annually on the second
Monday of April of each year, beginning
with 1920 all elections of directors shall
be by ballot. and each shareholder shall
be entitled To one vote for each share
of stock standing in his name on the
| books Of the corporation. this vote to be
cast in person or 10y written proxy, aud
| it shall require majority of the stock
| present or represented to elect Failure
| to hold IN election for Directors on the
| second Monday of April 1920, Or annually
| thereafter, shall not work forfeiture of
this charter, but the Old Board of Direc-
| tors shall remain in office until their
| Successors are duly elected and qualified.
| ARTICLE NI.-rhe Board of Directors
| shall hold regular meetings ut such times
as shall be fixed in the bylaws of this
| corporation. These meetings shall he held
| at the dOmicilr Of this corporation. but
| the President may call special meetings
of the Board of Directors at such times
| as he may deem advisable, and he shall
| be reIuired To call such meetings ut the
request of q member of the BOARD OF
| Directors. Three days written notice of
such special meetings shall be given to
the Directors, unless waiver of such
| notice is signed by the Directors. Any
vacancy occurring in the Board Of Dircc-
tors, either from death, resignation, or
inability to serve, shall be filled by the
remaining Board of Directors ut its next
regular meeting after such vacancy shall
tors Of this corporation shall be required
to draft suitable bylaws for the govern
ment of this corporation, which may be
altered amended or changed as the eX-
igencicS of the case may require.
ARTICLE VII.-The stock of this cor
pOration may be transferred, provided
such transfer shall be recorded upon the
Books of the corporation before it shall
be required to TOgaiZe the transfer or
the new holder of the stock. The total
atlount of the subscribed stock, here
in set forth. is the sun! of Five thousand
(S5000.00) Dollars, or fifty 600 shares.
fully paid and worcestershire, for cash,
and i'll exchange CT property, or both, ac-
cording to law. In the event that any
stakeholder desires to sell his stock, or
any part thereof, he shall first offer same
| to the remaining stockholders in proper
| ton to their respective holdings, at its
| Book market value. This offer is TO
| be made to appear by letter written and
| addressed to each stOt khOlder at his last
known address giving him thirty days
| option. At the expiration of which time,
| the st0ckhUlder desiring to sell his stock
shall be az liberty to DO so ut whatever
| price and tc whom he shall please.
| ARTICLE ViII.-1Iis charter may be
| modified or altered, the capital stock
thereof increased or decreased, or the cor
poration may he dissolved with the as
| sent of twO-thirds of the capital stock
present or repre- scented ut any meeting OF
stockholders held for that purpose after
|
holder, mailed to him at his last known
post office address, all in accordance with
the terms of Act 267 of 1914.
ARTICLE IN.-At the expiration of this
| charter or the earlier dissolution of this
corporation for any cause, its affairs shall
be liquidated by one or more hquidatorS
to be elected by the stockholders, all of
whom shall hold stock in this corpora
ton, and said liqudators are hereby
vested with full power and authority to
Iiduidate the affairs of said corporation.
With full Lower to act under ,n, the terms
| ARTICLE X.-The appearers hereby de-
clare that they have subscribed to the
following number of shares of the capital
lJ. Duggan, $40 BarOnne Street residence
1917 Sixth Street, New Orleans, La,
Twenty four (2i) shares; Edward p.
Joyce, 337 Hillary Street, New Orleans,
1874 Soniat Street, New Orleans, La,
Twenty five (25) shares. The subscrip-
lions of Edward L. Joyce and James L..
Pagaud shall be paid for in cash. and the
Subscription of Thomas J. Duggan, shall
be fully paid for by the transfer by him
of the business conducted by him at NO.
$40 BarOnne Street this City, together
with the personal property contained III
said premises $40 Baronne STREET lease,
contracts and the good will of said bust
ness, etc, an accurate, detailed ana item. .
lied statement and description OF sald
property being hereto annexed to be read
in connection herewith, and the said prop.
erty was duly appraised by the Board of
Directors at the sum of Twenty -four hun
dred ($2400.00 Dollars.
| Thus done and passed at my office In
this City of New Orleans, Louisiana, on
the day, month and year hereinabove first
| written in the presence of Hiliare ID. og-
den and j. n. Swing. competent witnesses,
who hereuRtO sign their Names together
| with the said appearers and me, Notary.
and the said appearers have set opposite
their names, the number of shares sub
scribed by them, all after due reading
| Of the whole.
| witnesses: II. ID. Ogden, J. n. Swing
(Original Signed) II. J. Duggan, Tween
ty-four shares; II. 7. Joyce, one share;
III. l.. Pagaud, Twenty-Five shares.
| JOHN Il. UPTON,
Notary Public.
| I, the undersigned Recorder of Mort
cages in and for the Parish of Orleans,
State of Louisiana, do hereby certify that
the above and foregoing act of incorpora-
ton of Duggan, Inc. was this day duly
recorded in my office in Book lbs Folio
267.
New Orleans, La. April 2nd, 1919.
(Signed) EMILE J. LEONARD, ID. X.
A true copy: -
| JOHN Il. UPTON.
Notary Public.
April 10May IS.