The herald., 1920-04-01
CHARTER OF THE HARDWOOD IN.
PORT co. INC.

BE it known that on this l>t day of tho
month al March. in the year of our Lord
Or" Thousand Mn" Hundred and Twenty
ANA Of the Independence of IA" United
StatnS OF America the one Hundred and
Fort s. Fourth: Before me. Alfred Charles
klmm,r. Il Notary Public. in and for the
Parish of orleans. State Of Louisiana.
aforesaid. therein residing. duly commits
STONED. sworn and qualified. and in the
presence OF the witnesses hereinafter
named and undersigned. personally came
and appeared Hendrix JaUSS"n, Christie
phcr J. Hay aud Harold Il. Carter. all of
the fun age of majority and residents of
the city OF New Orleans State of Louis
lana. who TO me Scyerally declared thar.
Ivailiug themselves of the laws of the
state of Louisiana in such cases made
and provided, and particularly of the pro
visions of Act No. Pa OF the Acts of the
General Assembly of the State of Louis
lana Tor the year 1914. as amended, they
have cOycnantcd and agreed and do by
hes" presents covenant and agree ana bind
themselves. rs well aS all such persons as
may hereafter join or become associated
with them. 10 constitute and form a cor
pOration and body polite in law. for the
oh iectS and purposes ana under the arti-
Giles aud stipulatious hereinafter set forth
and expressed, which they hereby adopt
as the Charter of this corporation, tO-wit:
ARTICLE 1.-The name and style of this
corporation shall he The Hardwood En-
port 60. Inc" and under its said cor
pOrate existence and succession for the
full term and period of ninety nine years
from and after the date hereof; il shall
have power ana authority To contract. sue
ana he sued. to make and use CorpOr-
ate seal. and the same to alter and break
at pleasure; To hold, receive. lease, pur-
chase and convey, as well aS mortgage
ana hypothccatc. property. real personal
and mixed. corporal and Incorporate; TO
name and appoint such managers, agents,
directors and officers as its business, in
terc>t and convenience may require, and
to make ana establish, aS well as alter
ana amend from time to time, such by
laws. culcs and regulations for the proper
government of the affairs of said COrpOr-
alton as may be necessary and proper
ARTICLE 1.-THE domicile of this cor
pOratiOn shall be in the City of New Or
leans State of Louisiana, and all cita-
lions or other legal process shall be served
upon the president of said corporation or,
in the event of his absence, upon the vice
president thereof, and, in the absence of
both of said officers, upon the secretary
thereof.
ARTICLE III The objects and pur-
poses for which this corporation is organ
iZcu and the nature Of the business TO be
carried on by il are hereby declared to
be the buying and selling of all kinds OF
| lumber, timber and logs, both for domes-
/ tic and foreign consumption, to carry on
| the business of an exporter of lumber anC
/ for this purpose TO own and charter YES
IL
generally to do and transact all such bus
| mess as may he incidental to or connected
with the business contemplated in this
charter
| ARTICLE IV-Tbe Capital Stock of this
CORPORATION is hereby fixed at the sum of
Fifteen Thousand Dollars tSl5,OOO.OO), di-
vidpd into and represented by one hun
dred and fifty shares of stock of the par
value of one hundred dollars (SlUO.OO)
each Said stock shall be paid for in
I tt,I, ii in inch
after such notice to the subscribers as
may DE fixed by the board of directors,
or the same may he issued ut not less
than par for labor done or property act
ually received -by the corporation. This
corporation shall become a going concern
and be authorized to do business when
Eight Thousand Dollars (SS,OOOOO) of its
capital stock shall have been subscribed
and paid for. The amount to which the
capital stock may be increased shall be
the sum of Fifty Thousand Dollars $50
0O0.OO). No stakeholder shall have the
right to sell otherwise dispose of any
stock of this corporation without first Of
fering the same in writing to the mem
berS of the board of directors of this cor
pOratiOn. then in office, through its preSl-
dent, which members shall have ten (lO)
DAYS within which 20 accept or refuse
the offer, and shall have the right to pur
chase such stock so offered or any part
thereof, at its book value, irrespective of
the price that may have been offered for
I
hers fail to avail themselves of said privi-
lyge within said period of time, then the
said stock may be offered and sold to any
other person or persons. II more than one
member of the board avail themselves of
the right to purchase the stock, as here
inabOve provided, then the stock SO pur'
chased shall be divided among the mem
hers so availing themselves of said right
in the proportions in which they seyerally
own stock in the corporation.
ARTICLE N.-All the corporate powers
of said corporation shall be vested in and
exercised by board of directors COM
posed of three ckholders, two of whom
shall constitute a quorum. Said directors
shall be elected annually on the sec0nc
| Tuesday in March in each year, except
| the first board appointed in this Charter,
who shall hold their oftceS~until the sec
ond Tuesday in March, 1921. All such
! elections shall be held by ballot and con-
Quoted at the office of the said corpora
| ton, under the supervision of three com
missiOners to be appointed by the board
| of directors. Notice of such election shall
| be given by the secretary of the com
pany by written notice thereof delivered
personally or by depOsiting same in the
post office, properly addressed, to each
| stakeholder at least fifteen (l5D days pre-
| ceding such elections. At all such cleo
| tons and Mt all corporate meetings every
| stakeholder shall be entitled TO one vote
| for each share of stock standing in his
name on the books of the corporation, to
| be east in person or by his written proxy.
and a majority of the votes cast shall
elect. Any vacancy occurring among the
| directors by death, resignation or other
| wise shall be filled by election for the re-
mainder of the term by the remaining di-
| rectOrs. \ failure TO elect directors on the
| date above specified shall not dissolve the
| corporation nor impair its corporate man
! agement, but the directors then in office
| shall remain in office until their success
| sors are elected and qualified. The board
| of directors shall elect from their own
number n president and a yice-president.
| They shall also elect a secretary and
| treasurer, or one person who shall be
both. either of whom may or may not be
members of the board. They shall have
power and authority TO appoint a general
manager to conduct the business of the
corporation, under such authority as may
| time 20 time, and they may. from time
| to time, name and appoint all such other
| officers, agents or other employees as
may be deemed necessary for the purpose
| and business of the corporation. They
| shall have power to fix the compensation
| and define the duties of every officer and
| employee, and all officers and employees
| shall hold office and employment at the
| pleasure of the board. The board may
make and establish as well as alter and
/ amend. any and all bylaws, rules and
| regulations necessary and proper in its
| judgment for the conduct support and
| management Of the business and affairs of
said corporation. At all meetings Of the
| board of directors each director shall have
the right to appoint proxy to act in