The herald., 1920-10-28
CHARTER OF FREDERIC 4 DUGGAN
CO., INC.


OCT. u Nov. Is
CHARTER OF FREDERIC \. DUGGA,
United States Of America. State of Lon
i>iauH Parish Of Orleans. city of New or
leans. he il known. That on this. tn
l~t day of the month of October. in IN
year of our Lord one thousand. nine hun
dr"d and twenty. and of the independents
of the United States of America the ON
hundred and forty fourth. before me
Charles +. Flrtchiugrr. a Notary Public
duly commissioned and qualified IN an,
for the Parish of Orleans. state OF Lou
iSiana. therein residing. and in the pres
enc" of the witnesses hereinafter name,
and undersigned. personally came and ap
pear"d the several persons whose namci
are hereuntO subscribed. all being of IN,
full age of majority, who Srvrrally de
Cldred that ayailing themselves of the pro
visions of the laws of this State relating Il
the organization Of corporations they have
contracted and agreed and do. by thes,
presents. contract and agree and bind and
Obligatc themselves, a. well as all Sucl
other persons as may hereafter become
associated with them. To form and cOnsti
tute a corporation and body polite iT
law for the purposes and objects and un.
der the StpulatiOnS. articles and COndi.
tons following, tO-wit:
ARTICLE 1.-The name Of this corpora.
tiOn shall hc Frederic A. Duggan co.
Inc and its domiCile is hereby estab.
li>hed in the City of New Orleans Parish
have and enjoy corporate existence for a
period of ninety nine years from the date
hereof, unless sooner dissolved. Ii 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: 10
purchase. lease. hold. mortgage, pledge
sell or transfer under its corporate name
all property of every kind. real or per
SOnal, IN make and endorse bills of eN.
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.-Al 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 il 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
and undertake any and all things necessary
or inCidenta Thereto; to enter into all
agreements or engagements, or
incur any obligations connected with or
appertaining 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 op-
ton of the Board to carry on any part
Of its business and exercise any part of
It's powers in other States of the Union
Dr. In foreign countries.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum of
Dne hundred and forty thousand (sl4O,-
UOOO) dollars, divided into and repre-
'ented by fourteen hundred 140O) shares
II the par value of one hundred (S100) dol
ars each, all of which shall be common
stock. The amount of capital stock may
Do increased to two hundred thousand
$500 OOO.0O) dollars by a vote of two-thirdS
II all outstanding stock and according TO
he laws of the State of Louisiana. All
stock shall be issued for cash or its equiv
Ilent or may be issued at not less than
'ar for payment for property actually
purchased or for services actually rendered
he corporation, or the same may be IS
ued full paid for money advanced or for
uch other valuable consideration or serv-
ces as the Board of Directors may de-
ermine. The corporation shall begin to
10 business when fifty per cent of the cap
tai stock has been subscribed for and fifty
'er cent of this subscribed capital paid.
mo the remainder Of the capital stock
man be issued at such times and upon
uch terms and conditions as the Board of
directors shall determine subject to legal
requirements. All stock shall be full paid
md worcestershire. and no transfer of
tock snail be binding upon the company
inless recorded upon the company's books.
l. tn
u this corporation shall be managed and
by Board of FIVE Directors.
"ho snail be stockholders. The majority
u the directors OF this corporation pres
'ht AT any meeting in person or by proxy
IAN cUhstltnte quorum, and a majority
'ole OF those present in person or by
proxy shall decide all questions voted up
IN. said Directors shall be elected an
iuaIly from among the stockholders on
ne hrst Monday in October Of each year,
mess the same shall be legal holiday.
"hen the election shall be held on the
ieNt legal day thereafter, beginning on
ne nrst Monday in October 1920 and after
lltetn days prior written notice having
Deen mailed to each stakeholder of record
% his last known address The voting
shall be by ballot. and each storkboIder
'hall De entitled TO cast one vote for each
snare held by him which has been stand
hg IN MS name on the books of the cor
,oIauon Tor at least ten days prior to tn,
~ ti'NNiOH n majority of the
'ntire stock issued and outstanding voted
y such election shall elect Immediately
ifter the election OF said Board OF Direc
ors and the adjournment of the stock
FOLDERS meeting. the newly elected Board
II directors shall elect from among their
lumber the officers Of this corporation.
Who shall be a President a Vice President
Secretary and a Treasurer The Offices
u Secretary and Treasurer may be held
y the same person. The failure to elect
directors or officers as herein provided for
nall not result in the dissolution Of the
orporatiOn, but the then Board OF hi. |
ectors and Officers shall hold their re- |
pective Offices until their successors ar.
July elected and qualified. Special meet /
ngs Of the shareholders may be held |
'hen ordered by the Board Of Directors
no must be held upon the request Of not |
eSs than twenty five per cent of the out |
landing stock after fifteen days written |
otlce to each stakeholder stating the OBJ |
ect or objects of said meeting ANY va |
ahcy occurring on any Board OF Direc- |
ors snail be filled by the remaining mem
ers or said Board for the unexpired term
q meeting called for that purnoSa af,a,