The herald. [volume] (New Orleans, La.) 1905-1953, 1920-08-26
CHARTER

change such certificates for new certifi-
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 by vote of one
hundred and forty-fiye (145) shares in
favor thereof with none against. and TWEEN
ty-one (2D shares not voting, so as to
read as follows, tO-wit:
ARTICLE EVERY member Of this As
sociatiOn shall be required to be 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.
Appearers further declare that Article
Seven of the Act of Incorporation was
amended by a vote of one hundred and
forty five O45) shares in favor thereof,
with none against and twenty one cd
shares not voting, so as TO read as follows,
to-wit:
ARTICLE yII.-AIl the powers Of this
Association are vested in, and shall be eX-
erciSed by Board of Directors. composed
of 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 \. NJ. and
, Il. NJ The President shall hold office
for a term Of one year aud the Directors
for a term of two years. The seven dircc
tors elected in November. 1919. together
with another to be selected by the Board
OF Directors, shall hold office until No
vember, 1921. The Board OF Directors
shall also select au additional director to
bring the number Of those elected in No
Vemher. l9lS up to eight, all OF whose
terms shall expire in November, 1870. Each
I - 10
person. or by special power of attorney,
by ballot. and majority of the votes so
cast shall elect. The Board of Directors
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 uneNpired
terms. and Is hereby vested with full
power to frame and adopt such rules and
regulations as il NAV 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 10 make contracts, leases.
mortgages and compromises, to borrow
money and issue bonds. buy and sell real
estate and do all and singular such acts
as may be necessary TO carry on the bust
ness and further the objects Of said AssO-
citation. The Board may also prescribe
rules and regulations for the admission Of
visiting members.
Appearers were authorized and in
structed to take such legal steps az may
be necessary to formally comply with the
law and to make an authentic act OF said
amendments. Accordingly appearers here
by appear before me, Notary Public. for
and in behalf of said LOUISIANA SUGAR
AND RICE EXCHANGE. and declare that
the Act Of Incorporation thereof has been
amended by the stockholders, as shown
above by more than three quarters ga OF
the stock present or represented at said
meeting. having voted in favor OF all OF
said amendments.
Appearers annex hereto certified copy
Of the Minutes of said meeting and of said
special notice. which they hereby declare
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. on
the day, month and year herein first above
written in the presence of Edmund Cabiro
and Emile A. Rainold. competent witnesses,
residing in this city. who have hereuntO
signed their names with the said appearers,
and me, Notary, after due reading OF the
LOUISIANA SUGAR & RICE EXCHANGE,
BY r. ". MURPHY, President.
JOHN J. SHEEHAN, Secretary.
4. Cabiro. Emile A. Rainold.
CSeaD CHARLES ROSEN.
Notary Public.
/, the undersigned Recorder of Mort
cages in and for the Parish of Orleans,
State of Louisiana, do hereby certify that
the above and foregoing Act of Amend
ment OF Incorporation of the Louisiana
Sugar and Rice Exchange, was this day
Anil cd In In
Folio 800. New Orleans, July 10. 1920.
(Signed) EMILE J. LEONARD.
by. X.
A true copy. July 16 1920.
CHARLES ROSEN.
July 22-Aug. e