The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-22
CHARTER OF JAHNCKE DRY DOCK &
SHIP REPAIR COMPANY, INC.

|
leans. Be it known, that on this 9TH day
of the month of March, in the year one
| thousand nine hundred and nineteen, before
me, Henry F. Dart, Jr., Notary Public, duly
| comm Toned and sworn in and for the Par
ish of Orleans and City of New Orleans,
| therein residing, personally appeared the
persons whose names hereunto sub
| scribed, who declared that, availing them
| selves of the provisions of the laws of the
State, relative TO the organization OF cor
| porations, they have covenanted and agreed,
! and do, by these presents, covenant and
! agree, bind form and constitute themselves,
| as well as such other persons who may here
| after join or become associated with them,
| into a corporation and body polite in law
| for the objects and purposes and under the
agreements and stipulations following, to-
wit:
| ARTICLE 1.-The name and title of this
| corporation shall be Jahncke Dry Dock K
| Ship Repair Company, Inc, and under this
/ name it shall have and enjoy all the rights,
! advantages and privileges granted by law
! to corporations; it shall exist for period
| of ninety nine years; it shall have power to
| contract, sue and be sued in its corporate
| name; TO make and use a corporate seal, and
| the same TO break alter at pleasure; to
| hold, receive, purchase, convey, mortgage,
| hypothecate or pledge property, both real
| and personal; to issue bonds, notes, and other
obligatons to have and employ managers,
directors, officers, agents and other EN-
ployees, the interests and convenience OF
| said corporation may require; and TO make
| and establish such bylaws, rules and regu-
lations for the corporate management and
| control of the affairs of said corporation, as
| may be deemed necessary and expedient..
ARTICLE 1.-THE domicile of said cor
poraton shall be in the City of New Or
| leans, in this State, and citation and Other
| legal process shall be served on the presi-
dent, and in his absence, on the vice-presi-
dent. In case OF the death of the president
Inf n
inability to act as such, his duties and tunc-
tons shall devolve upon and be fulfilled by,
the vice president.
ARTICLE III.-The objects and purposes
for which this corporation is organized and
the nature OF the business to be carried on
by it hereby declared to be: To con-
struct, purchase, charter, lease, hire or other
wise acquire, and to mann, equip, MAINTAIN
and operate, steamships, steamboats,, tow
boats, ferry boats, sailing vessels, barges
and other water craft of whatever descrlp-
ton, for transportation and towage OF
freight and passengers for hire, and 10 en-
gage in a general transportation business,
upon and between places on rivers, lakes,
bays and other waters and upon the high
seas, and to ports and places in foreign
countries, ana to carry on a general express
business in connection with the operation of
said vessels; to construct, purchase, lease,
hire or otherwise acquire warehouses, land
ing places, canals, docks, wharves, and other
facilities and to improve navigation or riv-
ers, bayous, and other waters, the BUSH
ness OF the company may require; to con-
struct, hire, lease or otherwise acquire and
to operate dry docks and floating docks
suitable for handling and repairing vessels,
and to build, rebuild and repair vessels of
every description; TO construct, purchase,
hire, lease or otherwise acquire, and to
operate on land, omnbuses, automobiles,
trucks, teams and vehicles of every nature
and description for the transportation of
freight and passengers, to and from the
landing places of the vessels operated by
said company, and such other points as the
Board of Directors may from time to time
determine to be necessary for the business
of said company; and generally to do and
perform all things germane as incidental to
or usual in the business and affairs herein
above authorized.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum of
two hundred and fifty thousand dollars
(S25O,WO.OO) divided into two thousand five
hundred shares of the par value of one hun
bred dollars each, which shares shall be paid
for in cash or in the purchase Of property,
and the said capital stock may be increased
to the sum of one million dollars additional.
All shares of stock shall be full paid and
non assessable. No transfer of stock shall
be binding upon the corporation unless made
upon its books and all certificates of stock
shall be signed by such officers as may be
designated by the Board of Directors. All
stock in this corporation shall be held upon
agreement in the nature of vested rights
that all such stock is held and possessed
subject to the rules and provisions for the
transfer of same hereinafter set out, to-wit
% No sale or other transfer of shares
of stock in this corporation shall be valid
first afforded the stockholders of record at
the date of such transfer sale other allie
nation to purchase such stock at book value,
plus twenty-five per cent, the value to be
ascertained in the manner herein prescribed
The right to acquire said stock hereby vest
ed in the other stockholders of record shall
follow the stock into any hands to which it
may pass and may be exercised against the
holders thereof within ninety days from the
time any sale or transfer has been offered
to be entered on the books of the corpora
ton. 1t shall be the duty of any holder
of stock in this corporation who intends or
desires to sell, transfer, ALLEVIATE or otherwise
dispose of same to give ten days written no.
tice of such intention or desire to the Board
of Directors of the corporation, who are
hereby constituted agents of the said stock.
holders for the purpose of such notice and
said Board of Directors shall give immediate
information thereof, in writing, to all the
other stockholders of record. Before the ex-
piration of the ten days from the receipt of
said notice by the Board of Directors any
shareholder of recotd may offer to purchase,
and may acquire the right TO purchase said
stock by notifying the Board of Directors in
writing and thereafter shall deposit the price
of said stock in cash with the corporation
on or before the expiration of eighty DAVIS
from the last mentioned date
Upon the receipt of the first mentioned
notice, the Board of Directors shall advise
the person owning said stock, his agent or
representative, to join with said Board in
fixing the value of said stock. which value
shall be established the basis of the last
annual or semi annual statement or report
of the corporation and the last monthly trial
balance preceding the date of such notice
and the value thus found and established
shall constitute the value and price of said
stock. 1t within twenty-four hours after
such notice, the owner, his agent or repre-
sentative does not join with the Board in
establishing the price of value of the stock,
the Board may proceed without further de-
lay to fix the said value, using the report
and trial balance aforesaid for that pur-
pose. which writings are declared to be con- |
elusive evidence for and against all parties
in interest in the premises. whether the |
value is established by the Joint act of the |
owner. his agent, widow, heir or representa-.
tive of by the Board of Directors acting in
default of the cooperation or said person or
persons. Upon receipt of the offer or &C. |
ceptsnce of any shareholder to purchase said |
stock and upon obtaining guarantee salts |
factory to said Board for the price thereof, |
the Board of Directors shall thereupon give |
notice therspf to the owner of the stock, his
agent or representative, and before the ex-
piration of the period of eighty days afore- |
said shall call in the certificate or certifi- |
Gates representing such stock and pay the |
price or value thereof and cause the same |
to be transferred on the books of the pur- |