The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-04
CHARTER.

to the holders of stock at the time Of isSu
ance at the book value of said new stool
in the proportion in which the said stock
holders shall at the time of issuance hol,
stock in this Corporation. and should an,
stakeholder not purchase his proportion
ate share, then said share shall be Offered
to the other stockholders in proportion :,
the number of shares held by them at tn,
time of the issuance of the new stock
Part of the stock has been paid for il
property. as per annexed inventory
ARTICLE N.-The capital stock Of thi
Corporation may be paid for either il
money. property or labor done and in con
sideration of the transfer by the CONNER
cial partnership of LonginO & Collins o
the property described in the inventor,
attached hereto, the corporation has giveI
and transferred to the said commercial
firm of LonginO & Collins two hundred
fifty (250) shares OF the capital stock o
this Corporation in payment of the prop
erty described in said inventory and Ia,
granted full discharge and acquittance t,
Loncino Collins and the individual
members thereof for two hundred fifty
L2jO) shares of the capital stock of thi,
Corporation.
ARTICLE VINO stakeholder shall ever
be held liable or responsible for the in
debtedness. faults or defaults of this cor.
poratiOn, nor shall any mere informality
in the organization of the Corporation
have the effect of rendering the charter
null or OF exposing the stockholders e
ANY iidDlllIN DeyOnu the unpaid balance, III
any, on his stock subscription. Should
any stakeholder desire to sell his stock he
shall first offer the same to the stock
holders OF the Company at its book value
through its Secretary. and the stOckhold-
ers who desire to purchase shall have the
right to purchase the same in the proper
ton to their respective holdings OF stock
In the Company. Should any stakeholder
not wish to purchase his .proportionate
share. then his share shall be offered to
the other stockholders proportiOnate TO
the number of shares owned by them.
should said stockholders in fifteen DAYS
after notice having been given, in writ
ing, fail or refuse to purchase the stock
offered for sale, such stock may be sold 10
any one. No transfer of stock shall be
made or held to be valid and binding I'M
less made in pursuance of the provisions
of this charter.
ARTICLE yII.-This CORPORATION shall
have all powers granted to such corpora
tions by law and shall have the power to
contract. sue and be sued in its corporate
name, and to own, hold, receive, loan.
tease, purchase, sell and convey or mort
gage any and all of its effects. or to
hypothecate its property and to do any
and all acts and things Of any kind, ma
lure or description, as may be necessary
10 carry out the objects and purposes of
said business as its interests and con
Venlences may require.
ARTICLE VIII.-The business of this
Corporation shall be directed by and
vested In Board of Directors consisting
of seven members four of whom stall
constitute a quorum, for the TRANSACTION
or business and the said directors as first
constituted shall be Richmond X. LONGING
Frederick II. Collins, A. Il. Hart and Earl
Z. Stevens, and others to be selected nv
them, and they shall hold office until tho
last Monday in January, 1921, and on
mat day and on the same day thereafter
elections shall be held annually for direc-
tors at the principal office of the corpor-
a ola ~
day specified shall not dissolve the Cor
poration. but the Directors in office shall
mold their respective offices until an cleo
o ton 1h snaI De held after thirty days notice
stockholder. The annual election shall
be held on the last Monday in January
l92l, and thereafter on the last Monday Of
d January OF each succeeding year, and the
erection shall be held between the hours
of two and four o'clock D. m. All va
cancies on the Board of Directors, for
Whatever cause, shall be filled by the re-
naming Directors. Richmond K. LONGING
snail De the first President, Frederick II.
Collins shall be the first Vice President.
A. Il. Hart shall be the first Treasurer
and Earl Z. Stevens shall be the first Sec
rotary. and they shall hold office until the
their successors are elected, and each sue
ceeding Board of Directors shall elect its
principal officers for the term Of their
election and only stockholders shall be
LUZ tftIllOH rs II MEMBER OF the
Board Of Directors. Directors may act
either In person or BIZ proxy.
ARTICLE IX.-Wheneyer this Corpora
non is dissolved, either by limitation or
Tor any other cause, its affairs shall be
lquidated by the Board of Directors.
Sho are hereby vested with full power to
cell any or all assets of the Corporation,
either separately or in mass, and to con-
'ey full and complete title thereto, and
shall have full power to do and perform
I'll acts necessary and proper to fully and
completely HQuidate the affairs and dis
ribute the proceeds, II any, among the
of this corporation to the
mount of stock held by each.
ARTICLE X.-This Act of Incorporation
nay be amended, altered and modified or
ms corporation dissolved in the manner
Thus done and passed. in my notarial
'fice in the City of New Orleans. State
u Louisiana, on the day, month and year
lrst hereinabove written, in the presence |
II Ruth NJ. Seller and Amanda c. Stech- |
mann, competent witnesses, who have |
fereunto signed these presents, together |
With the said parties hereto and me, No |
airy, after reading of the whole.
;. lOrlg1nal signedl X. X. LONGING, 1923 |
y: charles Ave, 100 shares; +. II. Collins, |
40 Soniat Street, 100 shares: +. C. Stew |
ms, 45l4 Prytania Street 80 shares; A. b. |
Hart. 1923 st. Charles Street, l share.
witnesses: Ruth NJ. Seller, Amanda c. |
'techmann.
A. A. MORENO, Not. Pub.
1, the undersigned Recorder of Mort |
ages, in and for the Parish of Orleans, !
tate OF Louisiana, do hereby certify that |
he above and foregoing Act of Incorpora-
ion of Longino & Collins, Inc. was this |
ay duly recorded in my office in Book |
246, Folio 272
New Orleans. La, Sept. 21st, 1920.
Signed) EMILE J. LEONARD, by. r.
Sept. 30 Nov. f.