The herald. [volume] (New Orleans, La.) 1905-1953, 1920-08-05
CHARTER.

of the debts of the Corporation ana ~
payment in full of the par value of oil ~
preIerree lock legally issued and ont
Snnias together with all accumulate
UNPAID o., 'dends thereon, the entire r,
mainder Z, said assets of said corporatio
| shall De divided among the holders of m
common stock legally issued and and
h mi IN proportion to their respectiy
q. All voting power of the Cornoro,io
Except as herein above specially provided
shaIi De vested exclusively in the CONNIE
STOCK, at all elections of Directors, or othe
meetings. or the stockholders excent mo
questions relating to the liauidation ar Ia
solution of this Corporation, i'm which CO..
the preferred stock shall have a like yotin,
P PomeF ro as tns common stock, that is. on
vote Tor each share of stock No amend
neht 10 the charter shall be passed whicl
snali impair the rights of the preferre,
stockholders as hereinabove provided.
Z. All shares of stock shall be trans
n ~, tt only upon the books after surrende
Vi the outstanding certificates and uurSu
ant 10 such rules and regulations as ma,
De prescribed by the Board of Directors,
8. No stakeholder shall have the ripb
10 sell or otherwise dispose of his coumo,
stock In this Corporation 10 any neraoi
other than stakeholder thereof witboU
ilrSt offering II in writing for thirty go
DAYS through the Board of Directors 70 IN,
other holders OF common stock at its booI
value as determined by the last prrcedinl
inventory. u :
o. This Corporation shall he c,oir,
concern as soon as five hundred thousand
$500. 0OOOO) dollars of the capitaI Sol
ShaIl nave been subscribed for. which shall
De PAID Tor either In cash or proparty az
tually received by the CORPORATION in a.
cordance with law; and in PAYMENT of nj
or any portion of said stock This Corunra
non Is authorized to acquire and take over
any business or businesses through II,
Board of Directors, who shall boyr fnI
power and authority to issue all stock "a,
they shall determine.
10. The capital stock of this Corpor,.
non 10 BOO may nay be increased to two million
ts2OOO,OO0) dollars. that is. the prcfprred
STOCK may be increased to five bundled
thousand tS5O0000.OO) dollars. and the com,
mon stock may be increased to one million
i've p nu1dred thousand Sl5O0,OO0) dollars
corporation shall be vested in and eNer
cised by, and its business and affairs shall
De managed by Board of Directors Of NOT
i pE IMAM three 20 nor more than seven
tD Directors, each of whom shall own ri
least one share of common stock in his own
name. Said Directors shall be elected nv
the stockholders entitled to the voting
power at the annual meeting which shall
be held on the first Monday of June. q.
each year. The first annual meeting shall
be held on the first Monday of June. 1901
until which time the officers and directors
named in this charter shall continue TO act
and until their successors are elected ana
qualltled. Should the stockholders elect
less than seven ca directors. the Directors
may elect the additional number up {,
seven "a.
.. All vacancies in the Board Of nirec
tors shall be filled by the remaining Iii
rectorS. Any Director may be represented
AT any meeting of the Board by any other
Stockholder by proxy.
3. Immediately after. or as soon as prac-
ucable after their own election. the Direc-
tors shall elect President Treasurer. a
ice president, and Secretary, and may
pra
officers as they desire.
4. The office of the Treasurer may <at
any time be disconnected from that of
President, and united to that of the Vice
PRESIDENT or Secretary, or established as
a separate office.
.. The failure to hold the annual meet
ing TO elect Directors shall not affect this
Corporation nor impair its management in
any respect. but the Directors and officers
shall continue in office until their success
Sors are elected. The Board of Directors
shall have the authority to determine the
all officers.
g. The first Board of Directors and off
rers of this Corporation and their post
office address are as follows:
Alfred j. krOwer, Ill Exchange Place
New Orleans. La, President Treasurer.
Mrs. Rose l.. Krower, 1880 st. Charles
Ave. New Orleans, La. Vice President.
, Myron NJ Goldman: 21S Whitney Central
Bldg, New Orleans, La, Secretary
Z. At all meetings of the Board of Di-
'ectors the President shall have the right
% vote upon any and all matters that NAV
ONE before the meeting. and in addition
'hall have the deciding vote in case of /,
lie.
8. The Board Of Directors may make.
imend or repeal all bylaws for the regu-
alton of the Corporation.
ARTICLE VII. This act of incorpor-
tion may be modified, changed or altered.
n said Corporation may be dissolved with
he assent of two-thirds (2/3) of the CAPT
n at mt ton linz IL
tockholders convened for that purpose
nd after Q5) days written notice has been
eliyered In person or given by letter
nailed TO the last known address of each
tockholder. The said notice may be
waived by the unanimous consent of the
tockholders.
2. The. capital stock of this Corporation
nay be Increased or reduced in accordance |
18th the provisions of the law in such cases |
lade and provided.
3. In case of the dissolution Of the Cor |
Grafton its affairs shall be liQuidated by |
ne or more liquidators elected by ma |
ority vote of the stockholders, with such |
overs. compensation and duties as the 1
NAV determine.
ARTICLE VII. No stakeholder shall |
yer be liable for the faults or contracts
this CORPORATION in any further sum
ian the unpaid balance due TO the cor
grafton on the shares subscribed by him.
or shall any mere informality have the
feet of rendering this charter null or q
Sposing any stakeholder to any liability
eyond any unpaid balance due on hi.
ock.
ARTICLE VIII-There is annexed to
Iese articles of incorporation and to be
ad in connection Herewith, an accurate |
stalled, and itemized description of the
-operty as to amount, location, extent
Iaracter and state of improvement to-
,ther with the statement of its value as
'praised by its Directors, transferred to
q Corporation in payment of the sub
riptions to the capital stock of said
ARTICLE IX.-The subscribers hereto
I've respectively written opposite their
mes the amount of stock subscribed by
EN- in this Corporation. so that this Act
Incorporation may also serve as the
iginal subscription list of the Corpora
IN, and they have stated their postOffice
dresses. so as to conform with Act 267
1914. of the General Assembly of the
ate of Louisiana.
Thus done and passed in my office in Z,
e City OF New Orleans, State of Lou !
ana, on the day, month and year first /,
owe written, in the presence of James
Dillon and j. Val YESTERDAYS, cOmpe-
II witnesses, of the full age of majority .
'iding in this city, who have hereuntO ,
ned their names with said appearers and !;
!, Notary, after due reading of the whole.
Original signed):
Alfred j. krower. Ill Exchange Place.
W Orleans, La, 1882 shares common. =
Rose l.. krower, 1880 st. Charles Ave, =
W Orleans, La, 1900 shares preferred. u
8 shares common. a
fyron NJ Goldman. PA Whitney Central =,
lg.. New Orleans, La, 10 shares common II
Witnesses: :,
4 NJ milan Uai yvostnrbors e.