The herald., 1920-10-28
CHARTER

' tAIN EN-
10 the holders of stock at the time Of f>~u.
aur- At the hook value 81 said new stock
in the proportion in which the said stock
holders shall AZ the time of iSSuan'" h"ld
stock in this Corporation. aud should amy
>tockhOldcr not purchase his proportion
ate share then said share shall bc Offered
20 the other stockholders in proportion :"
the number Of shares held by them az the
time of the issuance of tho new stock.
Part Of the stock has been paid for in
property. aS per annexed inventory.
ARTICLE N.-Thc capital stock Of this
Corporation may b" paid for either IN
money. property or labor done and In con.
Sideration Of the transfer by tn" CONNER.
cial partnership of LOnginO y Collins Of
N" property described in IN" inventory
attached hereto. the corporation has given
and transferred to the said commercial
firm Of LonginO Il Collins two hundred
fifty t1JO) shares Of the capital stock of
this Corporation in payment of the prop
erty described in said inventory and has
granted fun discharge and aCQuittanCc to
Longino & Collins and the individual
members thereof for two hundred fifty
,2-O) shares of the capital stock Of this
Corporation.
ARTICLE Who stakeholder shall ever
he held liable or responsible for the in
debtcdneSS. faults or defaults Of this cor
pOratiOu. nor shall any mere infOrmality
in the organization Of the Corporation
have the effect Of rendering the charter
null or of exposing the stockholders to
any liability beyond the unpaid balance, if
any. on his stock subscription. Should
any stakeholder desire to sell his stock. he
/ shall first offer the same to the stock 70
/ holders of the Company at its book value.
. through its Secretary. and the StOckhold-
erS who desire TO purchase shall have the
/ right to purchase the same in the proper
ton to their respective holdings of stock
in the Company. Should any stockholder
not wish TO purchase his prOportlonate
share. then his share shall be offered ia
the other stockholders proportionate "a
/ the number of shares owned by them
/ should said stockholders in fifteen days
after notice having been given, in writ
ing fail or refuse to purchase the stock
offered for sale such stock may be sold "a
any one. No transfer Of stock shall he
made or held to be valid and binding un
less made in pursuance of the provisions
/ Of this charter.
ARTICLE NII-This Corporation shall
. have all powers granted to such corpora
/ tons by law and shall have the power Il
( contract. sue and be sued in its corporal,
name. and to own, hold. receive, loan
/ lease purchase, sell and convey or mort
gage any and all Of its effects. or Il
hypOthecate it's property and to do any
and all acts and things of any kind. ma
ture or description, as may be necessary
to carry out the objects and purposes O
said business as its interests and con
venienCes may require.
ARTICLE VIII.-The business Of thi
Corporation shall be directed by anC
vested in a Board of Directors COnsistinl
of seven members. four of whom shal
constitute quorum, for the transaction
Of business and the said directors as frs
constituted shall be Richmond h. LOnginO
Frederick II. Collins. A. Il. Hart and Ear
&. Stevens, and others to be selected b,
them. and they shall hold office until tn
last Monday in January, 1921. and OF
that day and on the same day thereafte
elections shall be held annually for direc
, tors at the principal office of the cOrpOr
b u election
day specified shall not dissolve the Cor
? pOratiOn, hut the Directors in office Sha
, hold their respective offices until an elec
ton shall be held after thirty days motto
of the time and place thereof given to eaC
! stakeholder. The annual election shaI
be held on the last Monday in January
J. 1921. and thereafter on the last Monday q
January of each succeeding year. and tn
election shall be held between the hour
5 Of tw" and four O'Clock p. m. All va
2 canCieS the Board of Directors, 70
e whatever cause, shall be filled by the Re
2 naming Directors. Richmond X. LOngin
Q shall be the first President. Frederick l
J. Collins shall be the first Vice Presiden
!, 4. Il. Hart shall be the first Treasure
Y and Earl G. Stevens shall be the first SEE
1 rotary, and they shall hold office until tn
: last Monday in January. 1921, or unit
= their successors are elected. and each SUI
- ceedinC Board of Directors shall elect il
n election and only stockholders shall b
u eligible for election as a member of I'll
; Board of Directors Directors may a,
either in person or b. proxy.
: ARTICLE IX.-Whenever this COrpori
:, ton is dissolved, either by limitation {
n for any other cause, it's affairs shall /
g liQuidated by the Board of Director
Il who are hereby vested with full power
sell any or all assets ef the Corporation
v either separately or in mass, and to col
Q vey full and complete title thereto, an
j: shall have full power to do and perforl
u all acts necessary and proper to fully an
d completely liquidate the affairs and di'
d tribute the proceeds, if any. among Il
= stockholders of this corporation to III
It amount Of stock held by each.
; ARTICLE X.-This Act OF Incorporate
g may be amended, altered and modified, {
: this Corporation dissolved in the mann,
= provided by law.
!; Thus done and passed. in my notarii
" office, in the City of New Orleans sta
Of Louisiana. on the day, month and yes
: first hereinabove written, in the present
: of Ruth NJ. Seller and Amanda G. Steel
n mann, competent witnesses, who hay
q hereuntO signed these presents, togeth'
r. with the said parties hereto and me, n,
/ tary, after a reading of the whole.
n (Original signed) X. X. Longino, 30.
: st. Charles Ave, 100 shares; f. II. Collin
2429 SOniat Street, 100 shares f. c. Ste
? ems, 45l4 Prytania Street, 30 shares a.
= Hart, 1898 St. Charles Street. 1 share.
o Witnesses: Ruth NJ. Seller, Amanda
o Stechmann.
: A. A. MORENO, Not. Pub
- l. the undersigned Recorder Of Nor
=, cages, in and for the Parish of Orlean
. State Of Louisiana, do hereby certify tn
- the above and foregoing Act of lncorpor
~ ton of Longino & Collins, Inc. was tn
a day duly recorded in my office in Boz
~ 1916 Folio 272
n New Orleans. La, Sept. 21st 1920.
(SignedD EMILE J. LEONARD, by. Il.
I. Sept 30 Nov. 4.