The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-15
CHARTER.

within any other state, territory or pos
session of the United States OF America vi
any foreign country and with fuL power
and authority to perform and execute an! !
and all acts connected with or arising
/ therefrOm or incidental thereto
Section Six: To carry on and under
! take any business, undertaking, OF opera
! ton commonly carried on or uhuerlahch
! by merchants commission men, factors,
! importers, exporters. manufacturers anu
| agents and in the course of Such business
| to lend money, obtain and procure CItull
! TOR the corporation or any person, llrlH
! ar CORPORATION with whom this corporation
! shall or may enter into or DO business
| with and in the course OF Sald buslncss
undertaking or operation this corporation
| is authorized to draw, accept ehuors'
| guarantee acquire sell, deal in, hypOthe,
cate pledge and dispose of any ana an
/ negotiable and transferable documents anu
securities of every nature and hlhu'
Section seven: To buy, sell. lease and
sub-let real estate, personal and mlAeu
property.
Section eight: To build. construct, hire
charter or otherwise acquire, own, estab'
IiSh maintain. hold, lease and operate
| factories, warehouses, agencies, depOts
buildings, structures, accommodations NO
tells, offices. works, plants, machinery anu
all things whatsoever, of every nature
and kind. either in the state OF LOulSlaha
OF within any other state or ttrrltSrE or
possession of the United States OF AM
.rica or foreign country or countries
Section Nine: To buy, sell build, con
StruCt contract for, hire. lease, cnarl'r
or otherwise acquire, MAINTAIN anu OPP
crate steamships. steamboats,, tugs, barStS
sailing vessels and other vessels OF every
description and designation aud to OPP
rate same inland or coastwise service
in the United States or between any port
| or ports of the United States OF America
| or any foreign country or countries ana
! generally to carry business OF snip
building, ship repairing, drydocking as
owners, operators, brokers, chartereTS'
! manufacturers and agents and to engage
| i'm the carriage of mail, express, baggage,
: | pasScnCerS freight and merchandise ot
= every description for this corporation or
for any and all individuals. firms cor
: ! nOratiOnS and governments, elther IN or
! on vessels owned by this corporation or
: in or on vessels under charter, lease, con
tract or hire unto this corporation.
e Section Ten: To buy, sell, build, con.
; Struct contract for hire and lease ana
=, otherwise acquire. maintain and operate
railroad lines necessary for the tranSpor-
- tatiOn and conveyance of goods, cOmmo-
r dities and merchandise. either in the
Q state of Louisiana or other states, terri
}. tories or possessions of the United State,
|. | of America or in foreign countries
i Section Eleven: And to do all thing:
d necessary and incidental to the carrying
e out of the objects and purposes FOR whlcl
= this corporation is organized; and TO
such purposes to engage in business ii
II the state of Louisiana and within an!
l. other state or territory or possession o
v the United States of America or foreigl
u country that will permit the same.
y ARTICLE IV.-This corporation shall
l. have all the rights and privileges granite.
a by law to such corporations and shal
IN have power to contract, sue and be sue
in its corporate name; to make ana us
N a corporate seal, the same to break an
NJ alter ut its pleasure; to buy, sell. OWL
ii hold. lease. receive. convey, mortgage
ye pledge property. both real, personal an
no mixed: 70 issue bonds, notes and othe
in obligations: to have, engage and emplo
as such officers. managers and employed
as the business may require; to fix thcl
., compensation; to make, adopt and estat
% liSh such bylaws. rules and regulation
r. in the corporate name, not repugnant [
n' the charter of this corporation or the law
of the state of Louisiana or other State
territories or possessions of the Unite
~ States of America or foreign country !
of which IL shall engage in business, for Oh
I'd management of the corporations affair
as the stockholders and board of dire'
in tors may deem necessary and eNpedien
nd ARTICLE V.-The authorized capt.;
It. stock of this corporation shall be or
nd hundred thousand and O0-100 ($10O.OOOOt
-. dollars represented by one thousan
he Il OOO shares of the par value of OF
ne hundred and O0-1O0 (S100.00) dollars eac
Which capital stock may be increased
the sum one million dollars (SlOOOOOO)
o. the manner prescribed by law.
Said authorized capital stock shall col
SSt of two CO. different classes. one Their
Of to be known and designated as pr
ferrrd stock and the other as commC
stock.
Of Section one: The amount or the pr
lr. ferred stock is determined and fixed
,r- fifty thousand dollars (SjO,OO0OO) divid,
of into and represented by five hundr'
ty C5O0) shares of the par value Of one hui
re- dred dollars (Sl0O.G0) each, which sa
,r stock shall he entitled to receive whit
and as declared. from the surplus or n
profits of this corporation. yearly div
dend of ten per cent Q0Go) payable a
nually in such installments as the boa
of directors may declare.
The said dividend shall be cumulati
e from and after March l. 1920 and shall
payable before any dividend on the col
. mon stock shall be paid or set apart.
& Should the net profits or surplus
any year be insufficient to pay any
said preferred dividends, either in wh'
or In part. any unpaid portion there
ou- shall be charged against the net prof
ew of the corporation and shall be paid
the full out of said net profits or surpl
the before any dividends are paid or
I'M aside for the common stock.
nee The said preferred shares or su
one amount as may be then outstanding shi
vi in the event of dissolution or hquiC
ub- ton or distribution Of the assets of
in corporation be paid in full up to tn
Or par value plus accrued and unpaid di
res dends at the rate of ten per cent (1O'
htu per dnnum DeiOre any unOuui SudIl
ana distributed among participated in
mes owners of the common stock and S:
Ally preferred shares shall not then there
the ter participate further in the distrii
ion ton of assets of this corporation.
AVE Section two: The amount of the co
MI ! mon stock is determined and fixed
my | fifty thousand dollars (SJ0.00O.O0) diviC
"a. I,a into aud represented by five hundred %
lne | shares of the par value of one humid
eoI, dollars (Sl00.O0) each and said stock sh
ney be entitled to receive out of the net pr
ny its such dividends as the board of dir
anu tors may declare from time to time,
~, cept that no dividend shall be declared
wi paid on common stock until accrued di
anu dends on the outstanding preferred ST
anu an. has been declared and paid.
In the event or any liquidation or q
- solution or distribution of the assets
~ this corporation, the common stock ST
~ share in the assets of this corporate
oy after and only when said preferred sha
au- or such amount as may be then outsta
ior ing shall have been paid In full.
line value. plus accrued and unpaid dividen
om Section three: Said stock shall be p
for in cash when subscribed for or 50
cor may he issued for property actually
Or ceived or services rendered unto S
ions corporation. but said stock shall not
wed issued for less than par.
mon No share or shares of the capital st
MY of this corporation shall be sold or otf
or wise disposed of by any of the stO
ny holders, unless the said share or shs
shall have been offered first to this