The herald., 1919-05-01
CHARTER OF MISSISSIPPI SHIPPING
COMPANY, INC.

CHARTER OF MISSISSIPPI SHIPPING
COMPANY, INC.
United States of America, State OF LOUIS,
lana. Parish OF Orleans. Be it known, that
on this 24th day of the month OF March,
in the year OF our Lord, one thousand, nine
F. Dart, Jr., Notary Public, duly comlnls-
stoned and qualified in and for the PARISH
and State aforesaid, and in the presence, OF
the witnesses hereinafter named and under
signed Personally came and appeared, the
persons whose names are hereunto subscribed,
who declared that they are all OF age and
residents OF the City OF New Orleans, State
OF Louisiana, who declared that, awaiting
themselves OF the PROVISIONS OF the Jaws OF
this State relative to the organization OF
corporations they have formed ard organized
and do by these presents form themselves
into and constitute cooperation ana Douy
polite in law for the objects and purposes
and under the stipulatIOnS and agreements
hereinafter set forth and expressed, which
they hereby adopt as their charter;
ARTICLE I-Ihe name and title OF the
corporation hereby formed is declared to De
the Mississippi Shipping Company, Inc, us
domIcile shall be in the City or New Or-
leans State of Louisiana, and 1t shall have
and enjoy succession by Its corporate name
for a period OF ninety nine years from and
after date hereof Citation or other legal
process shall be served upon the President
and IN the event of his absence or inability
to act from any cause, the same shall be
served upon the Vice President, the Manager
the Secretarw, or the Secretary Treasurer,
should the latter offices be combined IN one
person.
ARTICLE 1.-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:
QsU To engage IN and carry on a steam
ship business; 10 own, control and acquire oy
lease charter, purchase, construct or other
wise acquire steamboats,, sailing vessels
tugs, barges, lighters, vessels and water
craft OF all kinds, or interests therein, ahl
to operate same for the transportation Of
goods and passengers; also TO purchase
build, construct, repair lease, sell, convey,
manage and operate vessels OF all KINDS, anu
all machinery, appliances and appurtenances,
incidentally necessary or convenient theret0'
or in any way connected herewith; with
also power to do a towing business and also
to purchase, own, lease, construct con'Tol,
and operate docks, warehouses, wharves, dry
docks and dock machinery, appliances and
appurtenances of all kinds, and with power
also to do a general shp-bulld'ng, steVeqor-
ing, dockage, warehouse, ship agency, ship
brokerage and commission business, with
power for any and all of the above purposes
to borrow money, and to issue from time TO
time, to any extent, necessary and CONVENE
ent in the opinion of the Board OF Directors
of this corporation, negotiable notes, cou-
pons, registered or other bonds or Obligations
of this corporation, and to secure the payment
of the principal and interest on the same by
mortgage or pledge of all any part of the
property, rights, franchises, and privileges
of the corporation then owned or which may
be thereafter acquired by the corporation,
and also with full power to do all things
proper, necessary, convenient or incidental 10
the powers and purposes above expressed.
(2d) To acquire by purchase, subscription
or otherwise, and to hold, sell, assign, trans
fer. exchange, mortgage, pledge or otherwise
dispose of any shares OF the capital stock,
bonds, or other evidences of Indebtedness
of any other corporation or corporations, as
ISOLATION or associations, domestic or foreign,
engaged in any business in which this cor
poratIon may be authorized to engage, or
the ownership of whose securities would be
advantageous or convenient In the protec-
tion or promotion of any OF the purposes or
interests of this corporation, but only to the
extent authorized by the laws OF the State
of Louisiana.
(3dJ To carry out all or any part of the
foregoing objects as principal, manager
factor, agent, contractor or otherwise, either
alone or in conjunction with any person
firm, association or corporation and IN any
part of the world; and in carrying on lis
business and for the purpose OF attaining OF
furthering any of its objects, to make and
perform such contracts of any kind and de
scription, to do such acts and things, and to
exercise any and all powers as natura
person would lawfully make, perform, do OF
otherwise, provided the same be not incon
SIStent with the laws under WHICH tHlS Sol
poration is organized
ARTICLE III.-The capital stock OF thi:
corporation is hereby fixed AT the sum OF
One Hundred Thousand Dollars (SlO0OOUU
divided into one thousand shares OF the pai
value of one hundred dollars $4,000 each
payable in cash and the capital stock may
be increased hereafter to the sum OF one
Million Dollars. No sale or transfer OF this
stock shall be recognized by the corporation
unless and until said stock shall have been
70 he a n
at its book value, as shown by the last an.
nual statement, for the use and benefit OF
other stockholders, who are hereby granted
the absolute first right and privilege to pur-
cept (Which shall be in writing and pay
therefor within thirty days after such OF,
fer shall have been made. The right and
the rights conferred in this article of the
charter shall follow the stock into whatsoever
hands it may go. Failure of the holder or
duce or deliver same shall authorize the
corporation to receive in trust the price
thereof, to cancel such outstanding certi.
ficates the books of the corporation and
so purchased shall be divided among the re-
naming stockholders in proportion to their
several holdings and upon payment OF the
price thereof Any such stock not desired
by any stakeholder or stockholders shall be
divided pro rata among the balance OF the
stockholders. This corporation shall be the
agent of the stockholders specially empow
cred through its Board of Directors, to en-
force and carry out all of the foregoing pro
visions regarding stock in this corporation
The substance of these provisions OF the
Charter shall be stated briefly and succinctly
upon the face of each certificate of stocl
and shall be conclusive notice to all person:
dealing Herewith.
ARTICLE IV.-All the corporate power:
shall be vested in and exercised by BoarC
of Directors made up of seven stockholders
four of whom shall constitute quorum to-
transactng all business. Said Board ma,
adopt bylaws. rules and regulations for tn,
government of the business and affairs o
the company, and may alter, amend anC
change the same at pleasure; 1t may ap
point hire and discharge all officers, agents
and employees, fix all salaries. and gener
ally do and perform all things necessary TO
| the transaction of the business and affair
of the corporation. Any Directors intendin;
to be absent temporarily may be represent
ed by written proxy filed with the BoarC
and notified to the President. Vacancies
occurring in the Board shall be filled by it
The first Board of Directors shall be com
T. F. Cunningham, New Orleans, La; R
S. Hecht, New Orleans, La; Theodore Brent
New Orleans, La; VIM. B. Burkenroad
New Orleans, La; George Westfeldt, New
Orleans, La; VIM P. Ross, New Orleans
La; and they shall hold office until thu
frs, Monday following the first Sunday il
May, 1920, and until their successors ar,
Nduly elected and qualified. The officers o
the company are hereby declared to be
and the said offices shall be filled by tn,
said NJ ]. Sanders, as President, the sait
T. F. Cunningham. as vice-President. ant
the said R. S. Hecht, as Secrotary-Treas