The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-25
CHARTER.

] or otherwise IN the state Oh LOuiSidhd vi
| within any other state, territory or pos
| session of the United States of America or
any foreign county and with run power
| and authority to perform and execute an!
and all acts connected with or arising
/ therefrOm or incidental thereto.
Section Six: To carry on and under
! take any business, undertaking, or opera
! ton commonly carried on or undertaken
| by merchants, commission men, factors,
! importers, exporters, manufacturers anu
agents and in the course Of Such business
/ TO lend money, obtain and procure credit
! for the corporation or any person, tlrm
or corporation with whom this corporation
/ shall or may enter into or 40 business
| with and in the course of said business
| undertaking or operation this corporation
| is authorized to draw, accept, ehuOrS''
! guarantee. acquire, sell, deal in. hypOthe,
| cate pledge and dispose of any and all
negotiable ard transferable documents ana
/ securities of every nature aud KIND.
Section seven: To buy, sell lease and
sub-let real estate, personal and mixed
property.
Section eight: To build, construct, hire
! charter or otherwise acquire, own, estaD-
| IiSh, maintain, hold, lease and operate
! factories. warehouses, agencies, depots
buildings, structures, accommodations, no
| tells offices, works plants, machinery ana
| all things whatsoever, of every nature
| and kind, either in the state OF Louisiana
or within any other state or territory or
|
| erica or foreign country or countries.
Section Nine: To buy. sell, build, con-
| struct. contract for hire, lease, charter
| or otherwise acquire, maintain ana OPP
| crate steamships, steamboats,, tugs, barges'
| sailing vessels and other vessels of every
! description and designation and to OPP
| crate same inland or cOaStwiSe service
| in the United States or between any port
| or ports of tho United States of America
or any foreign country or countries and
! ar.all tn
| building, ship repairing, drydOcking as
| owners. operators, brokers, chartererS.
| manufacturers and agents and to engage
| in the carriage of mail, express, baggage,
| passengers. freight and merchandise OF
every description for this corporation or
| for any and all individuals, firms, cor
| pOratiOnS and governments, either In or
| on vessels owned by this corporation or
| in or on vessels under charter, lease. con
| tract or hire unto this corporation.
Section Ten: To buy. sell. build, con
| Struct. contract for, hire and lease and
| otherwise acquire maintain and operate
! railroad lines necessary for the tranSpor,
tatiOn and conveyance of goods, cOmmO-
ditieS and merchandise, either in the
state of Louisiana or other states, terri
| tories or possessions of the United States
of America or in foreign countries.
Section Eleven: And TO do all things
necessary and incidental to the carrying
| out of the objects and purposes for which
| this corporation is organized; and for
! such purposes to engage in business In
J the state of Louisiana and within any
| other state or territory or possession of
the United States of America or foreign
country that will permit the same.
ARTICLE IV-ThiS corporation shall
have all the rights and privileges granted
I by law to such corporations and shall
have power TO contract. sue and be sued
in its corporate name; to make and use
| a corporate seal. the same to break and
| DT pleasure.
! hold lease. receive. convey, mortgage or
/ pledge property. both real, personal and
mixed: to issue bonds. notes and other
obligations: to have. engage and employ
such officers, managers and employees
| as the business may require; TO fix their
! compensation; to make. adopt and eStab-
/ liSh such bylaws, rules and regulations
| in the corporate name. not repugnant Ia
the charter of this corporation or the laws
| of the state of Louisiana or other states
| territories or possessions of the United
! States of America foreign country in
which it shall engage in business for the
| management of the corporations affairs,
as the stockholders and board of direc-
| tors may deem necessary and eXpedient.
| ARTICLE N.-The authorized capital
stock of this corporation shall be one
hundred thousand and OO-1O0 CSl00,OO0.OO)
dollars represented by one thousand
hundred and 00-1OO (S1O0.OO) dollars each.
| Which capital stock may be increased to
the sum one million dollars 1000, OOO) in
the manner prescribed by law.
Said authorized capital stock shall con-
| Sist of two (2) different classes, one there
| of to be known and designated as pre-
| ferred stock and the other as common
| stock.
Section one: The amount OF the pre-
| ferred stock is determined and fixed at
into and represented by five hundred
| (J00) shares of the par value of one hun
dred dollars (Sl00.e0) each, which said
| stock shall be entitled to receive, when
and as declared, from the surplus or net
| profits of this corporation. yearly divi-
dend of ten per cent Q0qt) payable an
| nually in such installments as the board
| of directors may declare.
The said dividend shall be cumulative
| from and after March 1. 1920 and shall be
payable before any dividend on the COM
mon stock shall be paid or set apart.
Should the net profits or surplus in
| any year be insufficient to pay any OF
, said preferred dividends. either in whole
or in part, any unpaid portion thereof
shall be charged against the net profits
full out of said net profits or surplus
before any dividends are paid or set
| aside for the common stock.
The said preferred shares or such
amount as may be then outstanding shall,
| in the event of dissolution or liQuida-
ton or distribution of the assets of the
corporation be paid in full up to their
par value plus accrued and unpaid divi-
dends at the rate of ten per cent (1006 }
| per annum before any amount shall be
| distributed among or participated in by
| owners of the common stock and said
| preferred shares shall not then thereaf-
| ter participate further in the distribu-
ton of assets of this corporation.
Section two: The amount of the COM
mon stock is determined and fixed at
| fifty thousand dollars $500 0OO) divided
into and represented by five hundred 600
| shares of the par value of one hundred
dollars (SlOO.OO) each and said stock shall
| be entitled to receive out of the net prof
| its such dividends as the board of direc-
| tors may declare from time to time, ex-
eept that no dividend shall be declared or
paid on common stock until accrued divi-
dends on the outstanding preferred stock
has been declared and paid.
! In the event OF any liquidation or dis
| solution or distribution of the assets of
| share in the assets of this corporation,
after and only when said preferred shares
! or such amount may be then outstand-
ing shall have been paid in full, par
value, plus accrued and unpaid dividends
| Section three: Said stock shall be paid
| for in cash when subscribed for or same
may be issued for property actually re-
| ceiyed or services rendered unto said
corporation, but said stock shall not be
issued for less than par.
No share or shares of the capital stock
| OF this corporation shall be sold or other
wise disposed of by any of the stock
holders, unless the said share or shares
| shall have been offered first to this cor