The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-22
CHARTER.

i'll and for the Parish OF Orleans, therein
residing. and in the presence of the I'M
dersigned witnesses. personally came and
appeared Richard NJ. Murphy. President.
and John j. Sheehan. Secretary, of the
Louisiana Sugar and Rice Exchange,
corporation organized under the laws of
this state. by act before Nicholas Il. IriSt.
Il Notary Public. on tn" sixth day of
March, 1888. recorded in Mortgage office
i'm this parish in Book 226 Folio SO. and
amended by Act before the same Notary
on January 2Nth. 1883. recorded in Mort
gage office in Book 3i3. Folio rs. who de
clIred that at meeting ut the >t""khold-
crS of said corporation held on June 2Nth.
1920. after fifteen (ljD days notice. dated
June 10th. 1920. published in the New or
leans Times PiCayUnr and III" Daily States,
two daily newspapers published in the
city of New Orleans. Stat" of Louisiana,
ut which were present or represented one
hundred and ~cvcnty.two OT2D shares of
the capital stock Of said corporation. Ar
ticle Four OF the Act Of Incorporation WAS
amended 10y a Vut" of one hundred and
fifty-Onc tlIlp shares in favor thereof a.
against twcnty-onp en- shares against the
adoption thereof. 80 a. to read rs follows.
to- wit:
ARTICLE IV.-Thr capital stock OF said
Association shall be one hundred thousand
dollars. divided into eight hundred shares
of one hundred and twenty five dollars
each. which shares shall be paid Tor. IN
full or in in~tallmcnt~. for cash. a> called
for by the Board of Directors. who may
from time To- time. fly the pric" AT which
y
tioU shall bc sold. which price shall IN no
case toe less than one hundred and twenty
five dollars per share. Ia ease payments
for stock shall he called for in install
mcnt>. any subscriber to the capital stock
who shall fail ia pay such in~tallmcntS
within thirty t3Ol days after the date
fixed for such payment shall forfeit all IN
Stallmcnt~ previously paid. without being
put in default. re>erving to the Board OF
directors the right 10 enforce collection
of the same by legal process. MI ccrtifi-
Gates of stock shall be signed 10y the Pre>i-
I dent and Secretary. except that IA" Board
of Directors may designate other duly
elected Officers to perform this duty in
event of inability Of the President. or See
rotary. to act. Holders of certificates of
stock OF the par value of two hundred
| fifty dollars. issued prior to the adoption
of this article. shall he entitled 10 eN-
change such certificates for new "crtifi-
! Gates OF the par value of one hundred
| twenty-five dollars on the basis of two Of
| the new shares for each one of the old
shares upon surrender of such certificates
| AppearerS further declared that at said
meeting Article Five of the Act of lncor-
pOration was amended 10y 81 vote of one
| hundred and forty-five Oi5l shares in
| favor thereof with none against. and TWEEN
ty-One (2D shares not voting. 80 as Z"
read as follows. to-wit.
ARTICLE Every member of this As
| Sociation shall be required to he the holder
! of at least one share Of the capital stock
! of said Association in his. or its. own
name but after the date Of the adoption
| of this article. no shares owned by the
Association shall be issued To any one
| person. or association of persons doing
! business as a partnership or corporation.
| except for membership purposes.
| Appcarcrs further declare that Article
/ Seven of the Act of incorporation was
| amended by q vote of one hundred and
/ with none against and twenty-Onc cd
| shares not voting. 30 as TO read aS follows.
| tO-wit:
ARTICLE VII.-AI the powers of this
| Association are vested in. and shall hc eX-
ercised by Board of Directors composed
| of q President and sixteen members. The
| President and eight Directors shall be
elected annually on the first Monday of
| November each year. or as soon thereafter
as possible. in the rooms of the ASSOcia-
| ton. between the hours of 10 y VI. and
| > i. VI. The President shall hold office
| Tor term of one yearsand the Directors
| Tor n term of two years. The seven dirpC-
! tors elected in November. 1919. together
| with another to he selected by the Board
| of Directors. shall hold office until No
vember. 1921. The Board of DirectOrS
| shall also select an additional director to
bring the number of those elected in No
yembcr. 1918. up to eight. all Of whose
| terms shall expire in November. 1920. Each
| member shall be entitled to one vote. in
| by ballot. and a majority of the votes so
| cast shall elect. The Board of Directors
i thus elected shall enter upon the duties
| of their office on the first Wednesday fol
! lowing their election. and shall have entire
| control and management of the affairs of
| the Association. with power to rent. or
| lease. and fit up such rooms aS may be
required for the purposes of the Exchange.
and to appoint Secretary. and such
| other officers and employees, with such
| salaries as they may deem necessary. The
said Board shall have authority TO fill all
vacancies in its numbers from among
members OF the Exchange for uneXpired
| terms. and is hereby vested with full
power to fraue and adopt such rules and
regulations as il may deem requisite and
necessary for the Association. and the
| transaction Of its business provided the
| same do not conflict with the Constitution
and Laws of the United States and this
| state, or with its Charter; they shall also
have the power to make contracts leases
mortgages and compromises. to borrow
money and issue bonds. buy and sell rea
estate and do all and singular such act,
as may be necessary 10 carry on the bust
ness and further the objects of said ASSO
citation. The Board may also prescrib,
rules and regulations for the admission OF
visiting members.
Appearers We're authorized and in
structed to take such legal steps as may
be necessary to formally comply with tn,
law and to make an authentic act of SAID
amendments. Accordingly appearers here
by appear before me. Notary Public. fol
and in behalf of said LOUISIANA SUGAT
AND RICE EXCHANGE and declare tina
the Act of Incorporation thereof has beer
amended by the stockholders. as ShowI
above by more than three quarters (j4) o
the stock present represented at saiC
meeting. having voted in favor of all o
said amendments.
| Appearers annex hereto n certified cop,
of the Minutes of said meeting and of sale
special notice. which they hereby declar,
was given to all of the Stockholders Ger
titled by the Secretary of Said Corporation
under the seal of the Corporation.
Thus done and passed in my office. OF
the day, month and year herein first allow
written, in the presence of Edmund Cabir,
and Emile A. Rainold. competent witnesses
residing in this city. who have hereunt,
signed their names with the said appearerS
and me, Notary, after due reading of tn
whole.
LOUISIANA SUGAR & RICE EXCHANGE
| BY r. NJ. MURPHY. President.
JOHN j. SHEEHAN. Secretary.
Witnesses:
T.. CabirO. Emile A. Rainold.
(SeaD CHARLES ROSEN.
Notary Public.
1, the undersigned Recorder of Mort
cages, in and for the Parish of Orleans
State of Louisiana. do hereby certify tina
the above and foregoing Act of Amend
ment of Incorporation of the Louisiana
Sugar and Rice Exchange. was this da!
duly recorded in my office in Book 1912
Folio 500. New Orleans, July 16. 1920.