The herald., 1920-08-12
CHARTER.

| enumerated or incidental to the power,
herein named or which shall at any time
/ appear conducive or "Xpedient to tn,
protection or benefit of the corporation
7 either as holders of, or interested in any
/ property or otherwise with all the powers
] now or hereafter conferred by the laws OF
! the State of Louisiana upon corporations
/ organized under the laws of this State.
Article ". The authorized capftaI stock
/ of this corporation Is hereby declared "a
! be the sum of Five Thousand $4,000 OOD
{ Dollars, which capital stock may be in
creased in the manner provided by law,
TO the sum of One Hundred Thousand
/ (SlOO.OOO.OOD Dollars. The presently au-
thOriZed capital stock of this corporation
shall be represented by Fifty (jOD Shares
of the par value of One Hundred (SlOO0O)
Dollars each. The said capital stock shall
be fully paid and worcestershire when
issued; shall be represented by certificates
and shall be- personal property. No trans
fer of said capital stock shall be binding
upon this corporation unless made in aC-
cOrdance with this charter and bylaws
and recorded on the books thereof.
Article V. The business and affairs of
this corporation shall be- managed and all
the corporate powers shall be vested in
and exercised by board of IN rec Ga
directors, to be elected from among the
stockholders, a majority of whom either
present i'll person or represented by
proxy, shall constitute a quorum.
The said Board shall elect from among
a Secretary and Treasurer. The office
Of Treasurer may be combined with that
of any other office. The Secretary need
not necessarily be a member of the Board
of Directors.
The Board of Directors shall have fun
and complete control of the property of
the company, and they shall conduct. man
age and use the same as in their discre-
ton they may deem best. if not inconsist-
ent with the objects of the company and
Of no mi nf
directors shall have the further power to
make, alter and annul such bylaws. rules
and regulations for the government of the
corporation as they may think proper
They shall appoint all agents, clerks or
employees; nix their salaries and compen-
satiOn. with term of office. with the right
10 dismiss them at pleasure: ami the said
Board shall have the further right to fix
and determine the salaries of the several
officers herein provided for.
ANY vacancy occurring in the Board of
directors, either by death. resignation or
otherwise. shall be filled by the remain
ing members of said Board for the I'M
expired term. ut any meeting of said
Board of Directors.
Article VI. The first Board of Directors
shall be composed of \. III. Stebbins whose
poStOffice address Is l42S East 6gth St
Chicago, Illinois; W. J. Henderson, whose
postoffice address is No. SIC Howard ave.
New Orleans La. and Jos. y. Stebbins
whose postofiCe address is No. Sl6 How
ard ave, New Orleans. La with the fol-
lowing ofhcers, who shall serve until the
hrst annual meeting of this corporation, as
hereinafter set forth, and until their sue
cessors shall have been duly elected quail
ned and installed: Jos. n. Stebbins, Presi-
dent; C. NJ. Mcmillan, Vice President; W
J: Henderson, Secretary and \. Ii. Steb-
bins, Treasurer.
Said Board of Directors shall serve until
the first meeting of the stockholders for
the election of Directors. or until their
successors are duly elected. qualified and
installed.
Article VII. On the first Tuesday i'm
February, 1921, and annually thereafter on
the first Tuesday in February of each year
a meeting of the stockholders Of the cor
poration shall be held at its domiciIe for
the purpose Of electing Directors for the
ensuing year, and at such meeting the
stockholders shall have the right of cumu-
lative voting in the election of Directors
and at said meeting said stockholders
shall elect said Directors. A failure for
any cause whatsoever to hold the annual
meeting of the stockholders or the failure
to elect Directors thereat shall not dissolve
the corporation, but the Directors and
othcers then in office shall remain in
office until their SUCCESSORS shall have
been duly elected, qualified and installed
Article VIII. This charter may be
amended and the capital stock of this cor |
poration may be increased or decreased |
or this corporation may be dissolved in |
INT hitthou anu ulduuer PROVIDED by law. |
Article IX. No stakeholder of this cor
poratiOn shall ever be held liable or re- |
SpOnsible for the contracts or faults of '
his corporation in any further sum than
he unpaid balance of stock for which he |
has subscribed, nor shall any mere in
-ormality in organization have the effect
IF rendering this charter null or of ex-
posing stockholders to any liability other
han as above provided.
Thus done and passed In my office Mt
he City OF New Orleans. Louisiana, on
he day, month and year first hereinaboye
written, in the presence of Edward L.
'zabary and Roberts c. Milling, competent
who hereunto sign their names
With said appearers and me, Notary after
lue reading Of the whole.
Name, PostOffce address and number of
hares subscribed: j. n. Stebbins, $40
toward ave-, New Orleans, La, shares;
ii. Stebbins, per J. n. Stebbins, I42S
East Goth st, Chicago, Illinois, 20 shares
v. j. Henderson, SIC Howard ave- New
orleans, La, / share.
witnesses: Il. L.. Szabary, X. c. Milling:
!. III. Saal, Notary Public.
i, 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 Incorpor-
ton, of The Stebbins Co., Inc, was this
ay duly recorded in my office in Book :
e42, folio 64S. New Orleans, July 27th. {
D2O. (Signed) Emile j. Leonard. DIV
zee. A true copy. New Orleans La,
ugust 3rd, 1920. X. II. Saal, Notary Pub
Aug. 5-Sept. 0.