The herald. [volume] (New Orleans, La.) 1905-1953, 1920-09-16
CHARTER OF PI-FISNE FEED CO.,
INCORPORATED.

INtohFohhlED
United States Of America, State Of Lou
isiana, Parish Of Orleans, City of New Or
leans. BE it known, that on this thirteenth
day OF the month Of July, in the year OF
our Lord. one thousand nine hundred and
twenty: Before me. Charles Schneidau. a
Notary Public. duly commissioned and
qualified, in and for the Parish OF Or
leans, State Of Louisiana. therein residing.
and in the presence of the witnesses here
matter named and undersigned, personally
came and appeared the several persons
whose names are hereunto subscribed, who
declared that. availing themselves of the
laws of this State relative 10 the organiZa-
tool of corporations. they have coyenanted
and agreed. and do, by these presents COW
enant, agree bind, form and constitute
themselves. as well as such persons as may
| hereafter join or become associated with
them, into a corporation and body polite
in law, for the objects and purposes and
under the agreements and stipulations fol
ARTICLE 1.-The name and title OF this
corporation shall be "Pi-Finne Feed Co,
Incorporated" and under its corporate
name it shall enjoy succession for the full
term of ninety nine years from and after
| the date hereof; il shall have the power
and authority to contract. sue and De
sued, and make and use a corporate seal.
| the same to break and alter at pleasure,
to hold, purchase, lease, sell. mortgage,
| hyPothecate, or pledge property. real. per
| Sonal or mixed, necessary, incidental or
proper Tor the carrying on OF It's business,
| to borrow money and make and issue
notes bonds and other evidences of tn
| debtedneSs therefor. and to secure the
same by mortgage or otherwise; TO hold
| stock in other corporations; to name and
appoint such managers and directors,
officers and agents as the interest and
| convenience of said corporation may re-
| quire; to make and establish, as well as
! alter and amend. at pleasure, such by
| laws rules and regulations for the man
| agement and regulation Of the affairs of
| the corporation may be necessary,
| proper convenient.
ARTICLE 1.-THE domicile Of this cor
| poration shall be in the City Of New Or
! leans, Parish of Orleans, State Of Louisi-
4 ana. and all citations or other legal pro-
| cess shall be served upon any of the
| officers of the corporation.
| ARTICLE III.-The objects and pur-
| poses for which this corporation is organ
lied. and the nature of the business TO be
| conducted by II, are hereby declared to be ::
LIST. To purchase the patent rights for a
| machine to dry hay and other food prod
| ucts; to manufacture, sell, lease and oper-
ate, or to permit the manufacture sale,
lease and operation OF said patented ma
| chimes on a royalty basis. or otherwise.
End. To buy. lease, own and operate
plantations, for the purpose OF growing
| paille finne hay and other food products,
| and to erect own, lease and operate fac
| tories to manufacture paille finne hay in
| combination with other substances into
| food for stock.
| u.
gage. hypothecate or pledge property, real,
/ personal or mixed to borrow money and
| make and issue notes, bonds and other
evidences of Indebtedness therefor, and to
| secure the same by mortgage or otherwise !;
| and to buy and sell stock and bonds.
| ARTICLE IV.-The capital stock Of this
| corporation shall be fixed at the sum Of
| two hundred and fifty thousand dollars
| $3.50. 900 O0), which shall be divided into
| two classes of stock, known as preferred
stock and common stock.
| OF the total capital stock one hundred
and twenty-five thousand dollars (Sl25,-
OOOOO) shall be classed as preferred stock
| divided into and represented by twelve
hundred and fifty Q250) shares Of the par
| value of one hundred dollars (S1O0OO) each,
| to be paid for in cash or its equivalent in
property.
The preferred stock of this company
shall be entitled to dividends at the rate
dividends shall be paid by preference and
| priority over the common stock, aud shall
| be cumulative. The dividends upon said
preferred stock accruing in any one year,
together with all the accumulatiOnS of div
idends or parts thereof remaining unpaid
| from preceding years. shall be paid In full
| before any dividends whatever shall be
paid on the common stock.
After the payment of the dividends due
on the preferred stock, as above provided
in any one year, the remainder of the net
earnings OF the company, after the Board
of Directors, in their discretion, shall have
shall be applied to payment of dividends
| upon the common stock of this company.
| then outstanding, not to exceed eight per
cent (Sg6) on such common stock. before
further distribution; and after eight per
cent $50 shall have been paid on the
common stock, in any year, any excess
amount over and above the amount re-
Quired TO be set aside for surplus. and to
| pay such dividend of eight per cent (SFo)
| on the common stock, shall be distributed
| in additional dividends for that year-one-
half of such amount to the preferred stock
| and the other one-haH Of such amount TO
| the common stock.
| The holders of the preferred STOCK shall
have all the same rights and voting powers
| of the holders of the common stock, share
| and share alike; and in the event of dis
| solution or liquidation of this corporation,
| the preferred stock shall first be paid at
| par, together with all deferred and unpaid
| dividends thereon, before the holders of
| the common stock shall be entitled to re-
| ceive anything; and the balance of the as
| sets, If any, shall then be distributed to
| the common stock.
In all other respects except as herein
above provided, the preferred and the COM
mon stock shall be on the same basis.
There shall be twelve hundred ana fifty
(12J0) shares, of the par value of one hun
dred dollars (S100OO each, of common
| stock, to be paid for in cash or its equiv
| alent in property. Said common stock
shall be entitled to participate in the earn
| 1ngs of the company, as hereinaboye pro-
vided for; but in the event of dissolution
or liquidation of this corporation, said
common stock shall share in the assets of
| this corporation, only after the preferred
| stock shall have been retired at its par
value, together with all deferred and IN
paid dividends, as provided above.
| ARTICLE V.-AlI the powers of this cor
| poration shall be vested In and exercised
by a Board of Directors. composed of five
| (5) stockholders of the company, to be
| selected in the manner herein provided.
/ At least three (3) of said Directors shall
| be owners of preferred stock of the cum-
pany. Said Board of Directors shall be
| elected annually at general meeting Of
| the stockholders, called for that purpose,
| on the third Monday in January Of each
| year, after due notice, in accordance with
| the laws of Louisiana. Each holder of