The herald., 1920-03-18
CHARTER OF THE MERCHANTS TRAD
ING COMPANY INCOR-
PORATED.

iSiana, Parish of Orleans, City of New Or
leans. lie il known, that on this day. the
twentieth of the month of February, in
the year of our Lord one thousand nine
hundred and twenty, and of the indie
pendcnCc of the United States OF America,
the one hundred and forty fourth, before
me, BuSSicre ROuPn, a notary public in
and for the parish of Orleans, state of
Louisiana, duly commissioned, sworn and
qualified, and i'll the presence of the wit
neSseS hereinafter named and undersigned,
personally came and appeared:
The several persons whose names are
hcrpuntO subscribed all of the full age
of majority. who declared that, awaiting
themselves of the provisions of the laws of
this state relative to the organization of
corporations. and more particularly Act
No. 26I of the General Assembly of this
state. approved July 9th. 1914; they have
CCvenanted and agreed and do, by these
presents, covenant and agree and bind
themselves to constitute for themselves. as
well such persons as may hereafter be
come associated with them. n corporation
and body polite in law, for the objects
and purposes, and under the SupuldtlOnS
following, tO-wit:
ARTICLE 1.-The name and title of this
corporation shall he: Merchants Trading
Company. Incorporated" and, under that
name il shall have and enjoy all the rights.
privileges and advantages granted by law
/ to corporations; il shall exist for period
of ninety nine years from this day; II
! shall have the power to contract, sue ana
he sued in its corporate name; to make
and use a corporate seal. and the same To
| break or alter at pleasure; to hold, re-
| ceive. purchase. convey, mortgage, ny
/ pothecate or pledge property. both real
| and PERSONAL to issue bonds, notes and
other obligations or negotiable lnStru-
mentS: to have and employ such managers,
directors officers. agents and other EN-
plOyceS as the interests and convenience
of said corporation may require or de
mand: to make and establish such by
laws. rules and regulations for the corpOr-
/ ate management and control Of III" al
fairs of the corporation rs may be deemed
necessary and eNpedient.
ARTICLE 1.-THE domicile of this cor
poration shall be established in the city
of New Orleans, state of Louisiana, and
all citations and other legal process shall
be served on the president, in his absence
on the yicc-prrSident. and in case of the
absence of both on the treasurer.
ARTICLE uI-The objects and pur-
poses for which this corporation is or
ganized and the nature of the business 10
he carried on by il are hereby declared 10
be. TO buy and sell. import and export.
prepare deal and trade in foreign and do
nestle commodities. foods. goods or Things
and to do generally a wholesale grocerS
and provision merchants business ana
generally TO do. and engage in, any other
business. undertaking or enterprise con
nrcted with. growing out OF. gerulahe OF
incidental to. any of the purposes herein
above set forth or contemplated by thlS
charter.
ARTICLE IV.-The capital stock Of this
corporation is hereby fixed III the sum or
twenty nine thousand dollars lSs?OOtVO).
divided into. and represented by two nun
dred and ninety (29O) shares OF the pa at
value of one hundred dollars (SlOO.O)
each payable in cash at the time OF SUD
scriptiOn.
All shares of stock shall be full paid
and non asSeSSablc. This corporation shall
have the right to increase its capltai
stock to the sum of one hundred thou-
/ sand dollars (S10O.0OO.OO.
No transfer Of stock shall be binding
, upon the corporation unless made upon
! the books: and all certificates OF stoch
/ shall be signed by such Officers as may
| be designated by the Board OF directors
| ARTICLE V.-An the corporate powers
of this corporation shall be vested in, ana
! the management and control of Its az
| fairs shall be exercised by BOaro OF III
rcctOrs composed of five Stockhoiders' the
membership of which Board may be IN
! creased to a number not exceeding seven
by the Board of Directors, at any Oh Us
| regular meetings. majority OF the 81
! rectors shall constitute quorum LOT lhe
| shall be elected by ballot annually On lhe
second Tuesday of January of each year
and a majority of the votes east snail bc
| necessary to elect. Each stOckhoider snail
| no entitled in person or by proxy TO
| vote for every share owned by hlm' All
| elections shall be held under such rules
and regulations as may be determined DE
the Board of Directors, after flfteen DAYS
! notice of such election shall have been
| sent to each stakeholder at his or her
| last known address. The directors mus
elected shall continue in Office TOT one
wear or until their successors nave pepn
! duly elected and have qualified. No 1ali-
urp to elect shall be regarded as TOT
| fixture of this charter. Any vacancy &c
curing on. said board shall be 1llleu DS
the remaining directors for the uneApireu
| term: the said board shall likewise elect
! the additional members in case they shouiu
! determine to increase the number OF tne
| board. Said Board of Directors snail, at
its first meeting, after its election, homi-
nate out of its number, president,
vice president, a secretary ana treasurer.
Said board shall have the right TO appoint
and dismiss such clerks, managers ana
other employee of the corporation as con
ditions may justify or the business OF the
corporation may require. The tenure OF
office of all the employees OF the corpora
ton shall be during the pleasure OF the
Board of Directors.
ARTICLE Vino sale or other trans
fer of stock in this corporation shall be
valid until and unless the corporation mas
been afforded the opportunity TO purchase
said shares of stock at their BOOK value
the corporation to be given ten days TO
determine whether it will avail itself OF
the offer of the stock.
ARTICLE Vino stakeholder shall
ever be held liable or responsible for the
contracts, faults or debts OF said corpora
ton nor shall any mere informality In It's
organization have the effect of rendering
this charter null, or of exposing stock
holder to any liability beyond the unpaid
balance, if any, due on the shares owned
by him.
ARTICLE vIII.-This act of incorpora-
ton may be changed, modified or altered,
or this CORPORATION may be dissolved, with
the assent of the stockholders owning two
thirds of all the stock of the corporation
at a general meeting convened for that
purpose, and after n least ten days writ
ten notice OF this meeting shall have been
given, through mail, addressed 10 each
stakeholder, at his last known place of
residence.
ARTICLE KIN case OF dissolution by
the expiration of this charter or other
wise the stockholders shall elect three
liouidators from among their number, TO
liGuidate and settle the business and al
fairs of the company. In case of death,
or disability OF any of said commissioners
or HOuidators the survivors or remaining
liquidators shall appoint a successor &c
him. The said hquidators shall have full
mower to settle said cOmpanys debts, and
divide the remaining money and property
among the stockholders. They shall also
have power to meet and act under the by
laws of this corporation and under reg
ulations to be made by a majority of the
said liquidators; to fix the price and pres
cribe the terms of sale of said property
and the manner in which the sale may be
made and TO take notes and bonds, Sc
cured by mortgage. or otherwise for part
Of the purchase price for all or any part
Of said property, provided, however, that
the rights herein conferred upon the hQui-
dators may be modified, changed or de-