The herald., 1920-06-17
CHARTER.

I
solved in the manner prescribed by law.
| IL may conduct business in this State,
| other states, the Federal Districts, the
| Territories and possessions of the United
| States and any foreign country. 1t
! shall have the power TO invest its Board
! of Directors with all of its corporate
! powers, subject to such restrictions as
| may be named in this charter. And it
! generally shall have and possess all the
I powers, rights. privileges and immunities
which corporations are and may hereafter
! be authorized 70 have and possess under
! the Constitution and the Jaws of this
| state. and particularly under Act No. 261
| of the Acts of the General Assembly of
| the State of Louisiana for the year 1914,
and the amendments thereto.
ARTICLE 1.-THE domicile of this cor
! pOration shall he in the Parish Of Orleans.
| State of Louisiana, and all citations or
| other legal process shall be served upon
the President of the Company. or, in
| his absence. upon a Nicc-PreSident.
| ARTICLE III.-The objects and pur-
poses for which this corporation is orga-
nizcd and the nature of the business to be
carried on by il are hereby declared to
he: 10 build. fit out. and repair steam
ships. steam boats. tugs, dry docks.
bdrEcS. and other water craft; to own
aud operate dry docks, foundri"s machine
shops, repair plants. and other convent
cnco~ for the building. repairing or dock
ing of ships ana other vessels: to buy or
olNtIN l>t acquire, ana or yUllu and Tor
repair machinery of all kinds. ships, YES
sells and water craft. complete or not
complete. sound or out of repair for the
purpose Of improving. rrSPlliug. charter
lnE. operating or otherwise making a
profit out of same, together with engines
boilers machinery. tackle and ship ap-
purtenanccS of all kinds: to exchange its
"nilr" capital stock or any part thereof
for property which it is authorized TO
acquire" or to exchange its entire assets
and business, or any part thereof. for
property, stocks, bonds or other ohIiga-
lions of other cOmpaEseS firms or indi-
NldualS: TO buy. sell, lease. hold. develop
and improve real estate: especially TO ac-
quire all of the assets and liabilities of
the Johnson Iron Works Ltd "a cor
poration organized by act before James
Fahcy. Notary Public for the Parish
of Orleans. dated May -. 1859 recorded
in the Mortgage office or the Parish of
Orleans in Book 30. Folio 123). and all
Of the dry docks. lands and physical as
>'tS and good viii formerly belonging to
the New Orleans Dry Dock & Shipbuild-
ing company. To enter into. make. perform
and carry out contracts and agreements
OF every Kind not contrary TO law with
any individual. firm. partnership, aSSO.
citation. company, syndicate. corporation.
government. state. municipality political
subdivision or other public or private
body or authority. and to carry on any
other business. which. under the law. il
Stem TO the corporation to he calculated
directly or indirectly, to effect ,np afore.
>ald objects and purposes or either of
them. or ito facilitate the CORPORATION i'm
The transaction of its aforesaid business
or businesses or any part thereof or in
IN" transaction of any other lawful bust
ness that may he calculated directly or
indirectly. To enhance the value of or 10
render profitable. any Of the COrpora-
non property and rights. aud generally
10 mold and exercise all Sucn Incidental
powers and privileges and to do and per-
form all things as relate to the objects
ana purposes hereinabOve set forth or as
may be needful. necessary. proper. useful
or convenient for effccting said objects
ana purposes or any Of them.
AtIlCLE lN.-Section I. The capital
stock of this corporation is hereby fiNed
AT One Million Two Hundred Thousand
tSl,HOOOOm Dollars. divided into and
represented by four thousand a OOOl
shares of preferred stock of the par value
of One Hundred (SIOOOW Dollars nor
shares of common stock of the par yalue
of Twenty 5000 Dollars per share. The
common stock of the corporation may be-
increased up 10 the sum of Five Million
tSOOOOOOOO) Dollars.
Section =. The capital stock. both nre. !
ierred ana common. shall he represented |
by certificates, shall be full paid and
non -a>SeSSahle when issued shall be is |
sued only for labor done or for propartv
actually received, or for cash to be maid |
~ Such times and in such amounts ana |
AFTER such notice may be determined |
by the Board of Directors. and shall no
personal property. No transfer of said |
capital stock shall be binding urnn This
corporation unless made in accordance
VII us charter and bylaws and recorded
On the books thereof.
Section ;. The holders o. the preferrad
stock shall he entitled to receive an an
lual dividend at the rate of but never
'N'e"iihS eight go per Cen- per annum.
cumulative from and after MAY LIST. 1920
pay anie oEt OF the net profits of the
ompany on the First day of January
april July and October. of each wear
p'l"re any dividend is paid upon the com
non stock. Should the net profits for
my year be insufficient TO nav said nra-
Ierred dividend therefOs. or any part
hereof, any unpaid portion thereof shall
become charge against the net profitS
)t the Company and shall be paid in fuII
,ut or said net profits before any diyi
lend is paid upon the common stock
ne preferred stock shall never partici-
pate IN the profits of the Company be-
'ond Its fixed preferential cumulative an
lual dividend of eight (S) per cent hut
snail be paid in full up to it's capital or
par value plus accrued anu unpaid divi
lenuS, II any, at the rate of eight per
'eht tStoD per annum. before any omount |
'hall he distributed among the owners of
ne common stock. in the event of any
lquidatlOn, or dissolution or distribution
d the assets of the Company and shall
iot participate further in the distribu
non of the assets of the COMPANY
section T. The corporation shall have
ne right to call for and redeem the out
preferred stock. in whole or in
part on any dividend date. at one bun-
lred ten lllO6) per cent of par. pIus
III accrued and unpaid dividends. No |
ice oil redemption shall be given by mail
ng same to all preferred stockboIdars
u record at their last known post office
iddress' or If none be known. then TO the
'eheral Delivery, at New Orleans. Louis
ana az least sixty (60) DAYS prior 70
'uch redemption date, and by PUBLISHING
'uch notlce OF redemption, mt least once
week Tor period Of sixty (6W DAYS
II uaily newspaper of general circuIa
ION, published in the English LANGUAGE
II the MY OF New Orleans, Louisiana
'uch call having been made, and tbe
nohty required for such REDEMPTION hav-
hs 0een deposited for that purpose with
ne whitney Central Trust and Savings
am oL New orleans, Louisiana tor If
NAT Dank snail not be in existence with
uch other bank in the CITY OF Ney o.
cans, as the Directors NAV seIectC on
lShts or the stock caller Tor redemnti6n
ulVldends shall cease after said re-
enpuOn date, and the holders tbaroot
nan Thereafter have recourse TO said |
ePoSlt alone and in no event to tbe | J
oHpahy Tor the payment of said redeem.
q STOCK and the dividends thereon. Tho S
hareS so called and redemeed shall no G
ahcelied aud not again be issued. q
section D. If less than all of tho nre- !
'.reu STOCK then outstanding, is IN no