The herald. [volume] (New Orleans, La.) 1905-1953, 1920-05-06
CHARTER OF RUSSELL SUGAR COM
PANY, INCORPORATED.

| United States of America. State of Lou
iSiana Parish of Orleans. City of New Or
leans. Be it known. That on this first
day of the month of April. in the wear of
our Lord, one thousand nine hundred and
twenty, before me- Bernard Titche, a No
tary Public in and for the Parish of Or
leans. State of Louisiana duly commits
stoned and qualified. and in the presence
of the witnesses hereinafter named and
undersigned. personally came and appear
ed the several persons whose names are
hereunto subscribed. who seeverally de-
clared that availing themselves of the
laws of the State of Louisiana. relative to
the organization of corporations. they have
cOvenanted and agreed and bind them
selves. as well as such other persons who
| may hereinafter become associated with
them, or their successors. to form and con-
stitute a corporation and body polite in
law, for the objects and purposes and I'M
der the agreements and stipulatiOns fol-
lowing. tO-wit:
ARTICLE 1.-The name and style of
this corporation shall be Russell Sugar
Company, Incorporated and under that
corporate name it shall have and enjoy all
the rights and privileges granted by law
to corporations; it shall exist for n period
of ninety-nin (99) years from the date
hereof.
ARTICLE 1.-THE domicile Of said cor
pOration shall be the City of New Orleans,
Parish of Orleans. State of Louisiana. and
all citations and other legal process shall
be served upon the President of the said
sence, upon the Vice President and, in the
case of the absence Of both of these Off
GERS. upon the Secretary Thereof
ARTICLE III.-The objects and pur-
poses for which this corporation is estab-
lished, and the nature of the business to
be carried on by it, are hereby declared
to be. to carry on general commission
business, and to buy. sell and deal in
mOlasses, sugars. syrups. merchandise,
goods, wares, food commodities and pro-
ducts OF every sort. kind or description.
as commission merchants and brokers.
and as buyers, sellers and dealers; to buy,
sell and lease plants, tank cars, tank
bargeS, tank vessels: to erect storage and
canning plants. and any and all appurten-
ances necessary for carrying out the OBJ
iects and purposes of the company; to
have branches at any points necessary.
either in the United States or elsewhere
for the successful operation Of said bust
ARTICLE Iv.-The capital stock Of this
corporation is hereby fixed at the sum of
one hundred thousand dollars $500, 900 .00)
divided into one thousand 0.OOO) shares of
the par value of one hundred dollars
($1O0O0) each. each share to be paid for
in such manner as the Board of Directors
may determine. The amount Of the cap
ital stock may be increased to two hun
dred thousand dollars $500, OOO.OO), and
the said corporation shall be authorized
to begin business, and shall be a going
stock shall have been subscribed. and
fifty per cent of all stock subscribed for
shall have been paid in. All sales and
other transfers of any of the stock of this
corporation shall be void unless said stock
shall have been previously offered to the
then existing stockholders. through the
Board of Directors. at a stipulated price
and If the Board. for the said stOckhold-
ers, does not see fit to purchase said stock
then IL shall not he sold at a less price.
or upon more favorable terms, without
likewise offering il to the Board at such
price and upon said terms In case of
sale or transfer of stock. or the issue of
increased capital stock. the then holders
of stock of the company shall have the
right to purchase said stock in the ratio
of their holdings of stock of the company.
No sale or transfer of stock shall be bind
ing upon the corporation unless made
upon its books. and said transfer shall be
made only upon surrender or proof of
loss or destruction of the outstanding GER
tificate.
ARTICLE v.-AT the corporate powers
and authority of this corporation shall be
vested in. and the management and con-
troll of its affairs shall be exercised by
a Board of Directors, composed of three
stockholders, to be elected annually by
ballot at a general meeting of the stock
holders on the second day of the month of
July in each year. No failure to elect
Directors shall be regarded as n forfeiture
of this charter. Any vacancy occurring
on the said Board shall be filled by the
term. Said Board of Directors shall at
the first meeting after its election. elect
of its number n President. Vice Presi-
dent, Secretary and a Treasurer. both OF
which last two officers may be combined
in one person.
ARTICLE VINO stakeholder shall ever
be held liable for the contracts or faults
of said corporation in any further sum
than the unpaid balance due to the cor
poration on the shares of stock owned by