The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-18
CHARTER OF FREDERIC 4. DUGGAN
CO., INC.

/
| CHARTER OF FREDERIC \. DUGGAH
CO, INC.
! United States of America. State OF Lou
| iSiana, Parish of Orleans. City of New Or
| leans. Be ii known. That on this, tn
! LIST day of the month of October. in tn
| year of our Lord one thousand. nine hun
| dred and twenty, and of the Independents
| OF the United States of America the on
| hundred and fsrty-fCurth. before Inc
Charles +. FletChinger, a Notary Public
| duly commissioned and qualified in an,
! for the Parish of Orleans, State of Lou
isiana, therein residing, and in the pres
ence Of the witnesses hereinafter name,
and undersigned, personally came and APP
pearcd the several persons whose namei
are hereunto subscribed, all being of tn,
full age of majority, who scyerally de
clared that ayailing themselves of the pro
visions of the laws of this State relating L
the organization of corporations, they have
contracted and agreed and do, by these
presents, contract and agree and bind and
ObliEate them selves, as well as all such
other persons as may hereafter become
associated with them, TO form and consti.
tute corporation and body polite in
law for the purposes and objects and I'M
der the stipulatiOnS articles and cOndi-
tions following, tO-wit:
ARTICLE 1.-The name of this corpora
ton shall be Frederic \. Duggan Co.
Inc and its dOmicile is hereby estab-
liShed in the City of New Orleans, Parish
of Orleans, State of Louisiana. and ii shall
have and enjoy corporate existence for a
period or ninety-nine years from the date
hereof, unless sooner dissolved. 1t shall
have the power to contract, sue and be
sued; to make and use a corporate seal
the same TO break or alter at pleasure: to
purchase, lease. hold, mortgage, pledge
sell or transfer under its corporate name
all property of every kind, real or per-
SOnal: to make and endorse bills of ex-
change and prOmiSSory notes and TO issue
bonds; TO make all necessary rules and
regulations for its corporate management
and control, and to enjoy all the rights
privileges and immunities which are now
conferred upon or may hereafter be grant
ed to corporations of the same kind and
character.
ARTICLE II.-All citations and other
legal process shall be served upon the
President, or, in his absence or inability
to act, upon the Secretary or Treasurer.
ARTICLE III.-The objects and pur-
poses for which this corporation is organ
lied and the nature of the business TO be
carried on by ii are declared to be TO own
buy, sell, hypothecate or otherwise ALLEVIATE
or Incidental thereto; to enter into all
quire and operate vessels of any character
and to do general shipping. forwarding
brokerage and insurance business; to do
anu uuutTldhe any anu all Things necessary
or incidenta Thereto; to enter into all
contracts, agreements or ENGAGEMENTS. OF
incur any obligations connected with or
to said business or appropri-
ate to its effectual prosecution; to own
stock in other corporations and TO vote
the same; to establish agencies or branches
at any place or places that the Board of
Directors deem advisable, and at the OPP
ton of the Board to carry on any part
Of its business and exercise any part of
its powers in other States of the Union
or in foreign countries.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum of
one hundred and forty thousand (sl4O-
100000 dollars, divided into and repre-
scented by fourteen hundred (14OOl shares
Of the par value of one hundred (SiOO) dol
lars each. all of which shall be common
stock. The amount of capital stock may
be increased to two hundred thousand
$500 100000 dollars by vote of two-thirds
Of all outstanding stock and according to
the laws of the State of Louisiana. All
stock shall be issued for cash or its equiv
llent or may be issued at not less than
par for payment for property actually
purchased or for services actually rendered
The corporation, or the same NAV be Is
sued full paid for money advanced or for
such other valuable consideration or serv-
Ices as the Board of Directors may de-
.ermine. The corporation shall begin to
10 business when fifty per cent of the cap
va SNONh mas bttH SUBSCRIBER LOT ana nfty
per cent of this subscribed capital paid,
and the remainder of the capital stock
snail be issued at such times and upon
such terms and conditions as the Board of
Directors shall determine, subject to legal
requirements. All stock shall be full maid
and worcestershire. and no transfer of
stock shall be binding upon the company
unless recorded upon the company's books
ARTICLE V.-The business and affairs
vi TINS corporation shall be managed and
conducted by Board of five Directors
VINO shall be stockholders. The majority
Of the Directors of this Corporation pres.
eHt at any meeting in person or by proxy
snah constitute quorum, and a majority
vote OF those present in person or by
proAy shall decide all questions voted up
Om, oalI directors shall be elected an
hually from among the stockboIders on
uhS hrSt Monday in October of each year
unless the same shall be n legal holiday
mneh me election shall be held on the
tba isSI gay thereafter. beginning on
me nrst Monday in October 1920 and after
nIteen days prior written notice having
Deen InSlled TO each stakeholder of record
70 ms last known address, The voting
shau oe oy ballot, and each stakeholder
shall be entitled 20 cast one vote for aacb
share held by him which has bean s+endl
IhS IN mis- name on the books OF the cor
PoIauon Tor at least ten DAYS prior to IN.
uate OF the election. 4 majority OF tho
ettlre STOCK issued and outstanding voted
=, I'm shhll eject. Immediately
after the election Of said Hoard ~ Diroc,
LoTs ana the adjournment of the stock
noiIers meeting, the newly elected Board
DL directors shall elect from among their
lulnper the Officers Of this corporation.
who shall be President, a Vice President
Secretary and a Treasurer. The offices
u Secretary and Treasurer may be held
ly the same person. The failure TO elect
Directors or officers as herein provided Tor
hail not result in the dissolution of tba
corporation, but the then Board of hi.
ectors and officers shall hold their re-
pective Offices until their successors ara
July elected and qualified. Special meet
ngs of the shareholders may be held
When ordered by the Board Of Directors
nd must be held upon the request of not
esS than twenty-five per cent Of the out |
landing stock after fifteen days written |
office to each stakeholder stating the oh !
ect or objects Of said meeting. ANY va
ancy occurring on any Board of Direc-
ers Of said Board for the unexnired tarn