The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-08
CHARTER OF THE MERCHANTS TRAD
ING COMPANY INCOR-
PORATED.

isiana, Parish of Orleans. City of New Or
leans. BE il known, that on this day, the
twentieth of the month of February, i'll
the year of our Lord one thousand nine
hundred and twenty, and of the indie
peudence of the United States of America,
the one hundred and forty fourth, before
me. BuSsiere Rouen, a notary public in
and for the parish of Orleans, state of
Louisiana, duly commissioned, sworn and
qualified, and in the presence of the wit
neSses hereinafter named and undersigned,
personally came and appeared:
The several persons whose names are
hcreunto subscribed. all of the full age
of majority. who declared that, availing
themselves of the provisions of the laws of
this state relative TO the organization OF
corporations, and more particularly Act
No. 261 of the General Assembly of this
state. approved July 9th, 1914; they have
CCvenanted and agreed and do, by these
presents, covenant and agree, and bind
themselves to constitute for themselves, as
well as such persons as may hereafter be
come associated with them. corporation
and body polite in law, for the objects
and purposes, and under the stipulationS
following, tO-wit:
ARTICLE 1.-The name and title of this
corporation shall be: Merchants Trading
Company, Incorporated" and. under that
name il shall have and enjoy all the rights,
privileges and advantages granted by law
to corporations; IL shall exist for period
of ninety mine years from this day; II
shall have the power to contract, sue ana
be sued in its corporate name; TO make
and use a corporate seal, and the same 10
break or alter at pleasure; TO hold, re-
ceive. purchase. convey, mortgage, ny
pOthecate or pledge property, both real
and personal; to issue bonds, notes and
other obligations or negotiable instru-
ments: to have and employ such managers,
directors, officers, agents ana other en-
plOyees as the interests and convenience
of said corporation may require or de-
nd m ma establish
laws. rules and regulations for the corpor-
ate management and control or the al
fairs of the corporation as may be deemed
necessary and eNpedient.
ARTICLE 1.-THE domicile of this cor
poration shall be established in the city
of New Orleans, state of Louisiana, and
all citations and other legal process shall
be served on the president, in his absence
on the vice-president, and in case OF the
absence of both on the treasurer.
ARTICLE II.-The objects and pur-
poses for which this corporation is or
ganized and the nature of the business 10
be carried on by il are hereby declared TO
be: TO buy and sell, import and export,
prepare, deal and trade In foreign and 90
nestle commodities, foods, goods or Things
and to do generally a wholesale grocers
and provision merchants business; and
generally to do, and engage in. any other
business. undertaking or enterprise con-
nected with, growing out OF, germane or
incidental to, any of the purposes herein
above set forth or contemplated by this
charter.
ARTICLE Iv.-The capital stock Of this
corporation is hereby fixed at the sum OF
twenty nine thousand dollars NZo,oV.oOl'
divided into, and represented by two hun
dred and ninety (290) shares of the par
value of one hundred dollars (slOOOp
each. payable in cash at the time OF sub
scriptiOn.
All shares of stock shall be full paid
n, -
have the right to increase its capital
stock to the sua of one hundred thou-
sand dollars (SlOO.OOO.OO.
No transfer of stock shall be binding
upon the corporation unless made upon
the books: and all certificates OF stock
shall be signed by such officers as may
be designated by the Board OF Directors
! ARTICLE V.-All the corporate powers
of this corporation shall be vested IN, anu
| the management and control OF It's az
fairs shall be exercised by Board or Dl'
rectors composed of five stockholders' the
membership of which Board may be in
creased to a number not exceeding seven
by the Board of Directors, at any OF IT'S
regular meetings. A majority OF the dl-
/ rectors shall constitute a quorum Tor the
transaction of all business. The directors
shall be elected by ballot annually on the
second Tuesday of January OF each year
and a majority of the votes cast shali De
necessary to elect. Each stockholder shall
vote for every share owned by him. All
elections shall be held under such rules
and regulations as may be determined oy
the Board of Directors, after flfteen Gays
notice of such election shall have been
sent to each stakeholder at his or her
last known address. The directors thus
elected shall continue in offlce LOT one
wear or until their successors nave been
duly elected and have qualified. NO IAN
ure to elect shall be regarded as for
fixture of this charter. Any vacancy oc-
curing on said board shall be filled by
the remaining directors for the uneNplreu
term; the said board shall likewise elect
the additional members in case they should
determine to increase the number OF the
board Said Board of Directors shall, az
its first meeting, after its election, homl-
nate out of its number, president,
vice president, a secretary and treasurer.
Said board shall have the right to appoint
and dismiss such clerks, managers ana
other employee of the corporation as CON
ditions may justify or the business OF the
corporation may require. me tenure oI
ton shall be during the pleasure OF the
Board of Directors.
ARTICLE Vino sale or other trans
fer of stock in this corporation snail De
valid until and unless the corporation has
been afforded the opportunity to purchase
said shares of stock at their book value;
the corporation to be given ten days 10
determine whether 1t will avail itself or
the offer of the stock.
ARTICLE Vino stakeholder shall
ever be held liable or responsible for the
contracts, faults or debts of said corpora
tion nor shall any mere informality IN lts
organization have the effect of rendering
this charter null. or of exposing STOCK
holder to any liability beyond the unpaid
balance, if any, due on the shares owned
by him.
ARTICLE yIII-This act of incorpora-
ton may be changed, modified or altered,
or this corporation may be dissolved, with
the assent of the stockholders owning two
thirds of all the stock of the corporation
at general meeting convened for that
purpose. and after at least ten days writ
ten notice of this meeting shall have been
given. through mail. addressed to each
stakeholder, at his last known place or
residence.
ARTICLE IX.-In case of dissolution by
the expiration of this charter or other
wise the stockholders shall elect three
liquidators from among their number, TO
liGuidate and settle the business and af-
fairs of the company. In case of death,
or disability of any of said commissioners
or liquidators, the survivors or remaining
liuuidators shall appoint a successor &c
him. The said liquidators shall have full
power to settle said company's debts, and
divide the remaining money and property
among the stockholders. They shall also
have power to meet and act under the by
laws of this corporation and under reg
ulations to be made by majority OF the
said liquidators; to fix the price and pres
cribe the terms Of sale of said property
and the manner in which the sale may be
made. and to take notes and bonds, Sc
cured by mortgage. or otherwise, for part
Of the purchase price for all or any part
Of said property, provided, however. that
the rights herein conferred upon the hqui-
-. "A oh a.