The herald. [volume] (New Orleans, La.) 1905-1953, 1920-01-01
CHAhTER OF LEON ISRAEL & BROS
(TEXASl. INC

CHARTER OF LEON ISRAEL & BROS.
| (TENAS), INC.
United States of America, State of Louis
| lana, Parish of Orleans, City of New Or
leans. BE 1t known, that on this Sth day
/ OF the month of December in the wear az
our Lord, one thousand nine hundred and
nineteen, before me, William J. Guste n
! Notary Public, duly commissioned and
guanhed, in and for the above parish and
State, therein residing, and in the presence
OF the witnesses hereinafter named and
Undersigned, personally came and appeared
the several parties whose names are here
! unto subscribed, who severally declared
/ that, awaiting themselves of the laws of
| me State of Louisiana, in such cases made
ana provided, and more particularly of Act
2o' or the General Assembly of the State
oI Louisiana OF loli, relating TO the crea-
tloh, organization and formation of cor
operations, they have covenanted and agreed
ana by these presents do hereby covenant
agree and bind themselves, as well as ali
osner persons ns may hereafter become
associated with them, to form a corpora
tioh Tor the objects and purposes under
the articles and stipulations following
whlch they hereby adopt as their charter,
ARTICLE 1.-The name and title of this
corporation shall be Leon Israel & Bros
NleNas), Inc, and under its corporate
name 1t shall have power and authority to
n nav ana ENJOY corporate existence for a
Perlod OF ninety nine years from date
nereof, unless sooner dissolved nv lioui-
datiOn or otherwise. 1t snail have mower
TO contract; to sue and be sued TO make
anu use corporate seal, and to alter and
Oreak the same at pleasure; to hold, re-
celNe, lease, purchase. transfer assign
mortgage, hypOthecate pledge or Other
wise dispose of, property, real, personal or
lmlNeu, corporeal and incorporeal: to issue
ponds and, If desired, TO secure same nv
mortgage; TO hold stock in other COM
IpahleSi TO name, elect and appoint Sucb
iilanager, agents. directors, and officers as
EnFNfa Is. -
allon may require; to make and establish
Ihltcr and amend, bylaws, rules and reyu
,atlons for its proper government, as NAV
De deemed necessary and proper for the
poration is engaged.
| ARTICLE 1.-THE dOmiciIe of this COR
Poration shall be in the City of New Or
process shall be made upon the President
or, IN MS absence, upon the Secretary.
AN LILLE lll.-The objects and purposes
ior which this corporation is organized and
created and the nature of the business 70
be carried on by it are declared TO ne as
IlohoWs: TO engage in brokerage and
commission business; to buy and selI or
MnoleSaIe and retail. or otherwise acquire
ana dispose of, import and cxport and
generally TO trade and deal i'm goods
wares, products, commodities and NOR
ehandiSe of every kind and description as
Prlnclpal ana, or agent and, or broker
TO act as agent and broker on commission
or otherwise in buying and selling ar
otherwise acquiring and disposing of i'm
porting and exporting, dealing and trad
ing IN sald goods, wares, products, com
modltles and merchandise: and OenaraIIy
TO TO and perform all things pertinent and
necessary TO carry out and execute the oh
rated. eAiuine-
ARTICLE Iy.-The capital stock of this
corporation is hereby fixed at the sum of
twenty thousand ($200O0.O0l dollars and
shail De divided into and represented by
two hundred (200t shares of common
stock, of the par value of one hundred
(slO0OO) dollars each. said stock shall
be paid for in cash. or by property or
services actually rendered to the corpora
lon, or other equivalent of cash as pro-
vided by law, and in such manner and
at such times and in such installments as
may be prescribed by the Board of Di-
rectorS. This corporation shall become a
going concern and shall be authorized to
commence business as soon as fifty per
cent of its capital stock shall have been
subscribed and fifty per cent of all stock
subscribed for shall in fact have been paid
for either in cash or its equivalent.
ARTICLE V.--The capital stock of this |
corporation may be increased to the sum
Of fifty thousand (S5O,OOOO0) dollars by
vote of twothirds of all the stock pres |
en1 or represented at special meeting
called Tor that purpose or at regular |
annual meeting of the corporation.
. ARTICLE VI.-All certificates of stock |
issued by this corporation shall be signed |
Dy the President and cOuntersigned by |
the Vice President. or If authorized by |
resolution of the Board of Directors, shall |
be signed by the President and counter
signed by the Secretary and Treasurer |
The stock of this corporation can be /
transferred only on the books of the cor
poration and subject to such regulations
and formalities as may be by the Board |
OF Directors from time to time prescribed |
No stakeholder shall be permitted to sell |
or otherwise dispose of his stock without
nrSt Offering the in Writiu tn baI
other stockholders through the Board of
directors at a price not exceeding the
book value thereof; and said stockholders,
IN proportion to their holdings, shall have
an option and first right to purchase all
the shares of stock to be thus disposed
OF by sails or otherwise of any of the
stockholders, and shall have period of
ten days In which to accept or decline
said offer. Should the stockholders de-
Cline to purchase said stock. then such
stockholder is at liberty to sell or dispose
OF the stock, and may do so in any man.
ner and at any price he may deem ft |
each share of stock is issued herein upon
the condition and understanding that no
shall sell or otherwise trans
fer his stock in violation hereof, and any
such sale or transfer IL made shall be
void, and this corporation shall be under
no obligation to list said stock on its books
or to regard the holder of the certificate
thereof
ARTICLE VII.-The corporate powers
- 'hIS SoipOIdtion sndll De vested IN ana
exercised by a Board of five Directors
three OF whom shall constitute a quorum
Tor the transaction of business. The Di-
redors Of this corporation may vote in
person or by written or telegraphic proxy
lt any Of the meetings Of the Board of
directors; and the Board of Directors may
ieiegate any of its powers to any officer J
Or officers or any other representative of
ne corporation by appropriate resolution 1
. that effect. The first Board of Direc-
.ors OF this corporation shall be composed ]
u the following: Sam Israel, President; ,
acmlle Israel, Vice President; Karl NJ. I
iumann. Secretary Treasurer; Leon :
srael, Frank j. McKenna, and they shall I
serve until the second Wednesday Of Jam /
iary, 1921, or until their successors are 4
Elected and qualified. The Directors shall 4
,e elected annually at a meeting held on .
he second Wednesday of January in each /
'eat after date hereof. Notice of said h
neaing shall be given ten days prior to (
ne date Of said meeting, in writing. sent a
" registered mail to each stakeholder at
us last known place of residence. The u
Soard of Directors may change the date I
u said annual meeting to any other date, v
~ written notice to that effect sent at | n
east fifteen days prior to the date to s
when said annual meeting shall be chang h
q, directed by registered mail to each q
tockholder at his last known place Of n
esidence. Each stakeholder shall, at such
hhual meeting or other meeting, general n
y special, be entitled in person or by o
Iritten or Geographic proxy to one vote ri
or each share of stock owned by him. =,
ne election shall be held under such n