The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-11
CHARTER.

/ ar otherwise in the state OF Louisiana OF
| within any other state, territory or pos.
session of the United States of America or
! any foreign country and with full power
/ and authority to perform and eNecut" any
/ and all acts connected with or arising
I thrrefrom or incidental thereto.
Section Six: To carry on and under
| take any business. undertaking, or opera
ton commonly carried on or undertaken
! by merchants. commission men, factors
! importers. exporters. manufacturers ana
/ agents and in the course of such business
/ TO lend money. obtain and procure credit
| for the corporation or any person. firm
I or corporation with whom this corporation
] shall or may enter into or do business
with and in the course of said business,
| undertaking or operation this corporation
! is authorized TO draw, accept. endorse,
/ guarantee. acquire. sell. deal in. hypOthc-
! cate pledge and dispose of any and all
negotiable and transferable documents and
J securities OF every nature and kind.
Section seven: To buy. sell lease and
Sub-lrt real estate. personal and mixed
property.
/ Section eight: To build. construct. hire
charter or otherwise acquire, own. rStah-
/ li~h. maintain. hold, lca~" and Opcrat"
/ factories. Warehouses. agencies. d"pot>.
! buildings. structures, accommodations. no
1 tells offices. works, plants, machinery and
all things whatsoever. of every natur"
aud kind either in the state OF Louisiana
/ or within any other state or territory or
| possession Of the United States of Am
| erir;, or foreign country or countries.
! Section Nine: To buy. sell build, con
| struct. contract for hire. lease. charter
| or otherwise acquire. maintain and op-
crate steam ships. steamboats,. tugs. barg">.
sailing vessels and other vessels OF every
description and designation and 10 op-
/ rrat" same inland or COuStWiSc S"rYlr"
! in the United States or between any port
! or ports of the United States of America
or any foreign country or countries and
generally 10 carry on business of ship
I building, shin repairing. drydOcEing as
owners OPERATORS brokers. chart"rrr>.
manufacturers aud agents and to engage
| in the carriage of mail. express. baggage.
! passengers. freight and merchandise Of
every description for this corporation or
pOratiunS and governments. either In or
on vessels owned by this corporation or
in or on vessels under charter, lease. con.
tract or hire unto this corporation.
Section Ten: To buy. sell. build. con
~frUct contract for. mir" and lease and
| otherwise acquire. maintain and operate
railroad lines necessary for the trau>por,
tHtiOn and cOuVcNauc" of goods, CommO-
ditirS and merchandise, either in the
state of Louisiana or other states. terri
tories or possessions of the United States
of America or in foreign countries.
Section Eleven: And to do all things
necessary and incidental To the carrying
out of the objects aud purposes for which
this corporation i organized: and FOR
such purposes to engage in business in
i the state of Louisiana and within any
other state or territory or possession Of
the United States Of America or foreign
country that will permit the same.
ARTICLE IV-ThiS corporation shall
have all the rights and privileges granted
10y law To such corporations and shall
have power to contract sue and be sued
in its corporate name; to make and uS'
a corporal" seal. the same To break and
alter at its pleasure; to buy, sell. own.
hold. lease. receive. convey, mortgage or
pledge property. both real. personal and
mixed: 10 issue bonds, notes and other
obligations; to have, engage and employ
such officers. managers and employees
as the business may require: to fix their
condensation: to make adopt and cStah-
fish such bylaws. rules and regulations
in the COrpOrat" name. not repuGnant to
the charter Of this corporation or the laws
of the state of Louisiana or other states.
territories or possessions of the United
States of America or foreign country in
which il shall engage in business. for the
mana cement of tn" corporations affairs,
rs the stockholders and board of direc-
tors may deem necessary and eNpedient.
ARTICLE V.-The authorized capital
stock of this corporation shall be one
hundred thousand and OO-1OO $500 GO000)
dollars represented by one thousand
Il. OO0J shares of the par value of one
hundred and 0O-1OO (Sl0000) dollars each.
Which capital stock may he increased to
the sum one million dollars ($1,OO0OOO) in
the manner prescribed by law.
Said authorized capital stock shall con
Sist of two (2) different classes. one there
of to be known and designated as pre-
fcrrcd stock and the other as common
stock.
Section one: The amount or the pre-
ferred stock is determined and fixed at
fifty thousand dollars (S50,0OOOO) divided
into and represented by five hundred
II, Al. IL. - H.
dred dollars (S1OO9O) each. which said
stock shall he entitled to receive. when
and as declared. from the surplus or net
profits of this corporation. yearly divi-
dend of ten per cent G0CC) payable an
nually in such instalments as the board
of directors may declare.
The said dividend shall he cumulative
from and after March I. 1920 and shall be
payable before any dividend on the COM
mon stock shall be paid or set apart.
Should the net profits or surplus in
any wear be insufficient to pay any of
said preferred dividends. either in whole
or in part. any unpaid portion thereof
shall be charged against the net profits
of the corporation and shall be paid in
full out of said net profits or surplus
before any dividends are paid or set
aside for the common stock.
The said preferred shares or such
amount as may be then outstanding SHALL
in the event of dissolution or liquida-
ton or distribution of the assets of the
corporation be paid in full up to their
par value plus accrued and unpaid divi-
dendS at the rate of ten per cent (lOfC)
per annum before any amount shall be
distributed among or participated in by
owners of the common stock and said
preferred shares shall not then thereaf-
ter participate further in the diStribu-
ton of assets of this corporation.
Section two: The amount of the COM
mon stock is determined and fixed at
fifty thousand dollars ($j0,000.00) divided
into and represented by five hundred (50O)
shares of the. par value of one hundred
dollars (S1O00O) each and said stock shall
be entitled to receive out of the net prof
its such dividends as the board of direc-
tors may declare from time to time eX
cept that no dividend shall be declared or
paid on common stock until accrued divi-
dendS on the outstanding preferred stock
has been declared and paid.
In the event or any liquidation or dis
solution or distribution of the assets of
share in the assets OF this corporation,
after and only when said preferred shares
or such amount as may be then outstand-
ing shall have been paid in full, par
value, plus accrued and unpaid dividends.
Section three: Said stock shall be paid
for in cash when subscribed for or same
may be issued for property actually re-
ceived or services rendered unto said
corporation, but said stock shall not be
issued for less than par.
No share or shares Of the capital stock
of this corporation shall be sold or other
wise disposed of by any of the stock
holders. unless the said share or shares
shall have been offered first to this cor
poration in writing by addressing the