The herald., 1920-01-08
CHARTER.

increase the number of the Board. Such
Board Of Directors shall at its first meet
ing after its election, nominate out of its
shall be regarded as forfeiture Of this
Board shall be filled by the remaining
number, a President, Vice President, a
Secretary and Treasurer. The Offices of
Secretary and Treasurer may be combined
in one person, and the Board of Directors
is accorded the right. If it chooses TO elect
for the office of Secretary-Treasur
a person who is neither a member of the
Board of Directors, or a stakeholder in
the corporation. Such Board shall have
the right OF appoint and dismiss such
clerks, managers, or other employees of
the corporation as conditions may Justify
or the business of the corpOsatiOn may
require. The tenure of office of all the
employees of the corporation shall be dur
Ing the pleasure of the Board Of Directors
ANY of the directors or officers shall have
the right to appoint by written instru-
ment another director as MS proxy and
in his stead at any and all meetings of
the Board of Directors.
ARTICLE VINO sale or transfer of
stock in this corporation shall be valid
until and unless the stockholders of the
corporation have been afforded the op
porutnity to purchase said shares of stock
at not less than their book value, the
stockholders to be given fifteen days TO
determine whether they will avail them
selves of the stock.
ever be held liable or responsible for the
contracts, faults, or debts of said cor
poration, nor shall any mere informality
in its organization have the effect of rem
dering this charter null, or of exposing a
stakeholder to any liability beyond the
unpaid balance due on the shares owned
by him.
ARTICLE yIII-This act of incorpora-
tionamay be changed, modified or altered,
or this CORPORATION may be dissolved
Of ST
two thirds of all stock of the corpora
ton, at a general meeting for that pur-
pose convened after at least thirty days
written notice of this meeting having been
given by mail addressed to each stock
holder at his last known place of resi-
dence. In case of dissolution by the eX-
piration of this charter or otherwise, the
stockholders shall elect three liquidators
from among their number to liquidate
and settle the business and affairs of the
company. In case of the death or dis
ability of any of said commissioners or
liquidators, the survivors or remaining
liquidstors shall appoint successor to
him. The said liquidators shall have full
power to settle said company's debts and
divide the remaining money and property
among the stockholders. They shall also
have the power to meet and act under the
bylaws of the corporation and under the
regulations to be made by the majority !
Of the hQuidators; 10 fix and prescribe
the terms of sale of said property, and
the manner in which the sale shall be
made, and to take notes and bonds secured
by mortgage or otherwise for part of the
purchase price, for all or part OF said prop
erty, provided, however, that the rights
Iherein conferred upon the liquidators may
be modified changed or denied by q ma
Jority of the shares of the capital stock
of the corporation. The said liquidators
shall have the authority to sue for and
recover the debts and property in the
name OF the corporation, and my be sued
by the same name, and they shall be liable
in solidO to any creditor or stakeholder
for the monies and property of the cor
poration which shall come into their hands
or possession as liquidators and for the
proper application and distribution there
of.
ARTICLE IX.-Until the election to be
held In January. 1921, the following shall
constitute the first Board of Directors:
Oscar A. Coon, Frederick Querens, Horace
b. Cook, John Kleinkemper, Thomas d.
Rarayne, with osear A. Coons, as Presi-
dent; Frederick Querens, as Vice-Presi-
dent, and George A. Karayne, as Secretary
Treasurer.
the day, month, and year first above writ
ten, in the presence of A. s. Frank and
Fred II. Herrick, Competent witnesses, who
have signed with the appearers and me,
Notary, after reading Of the whole.
Original Signed):
OSCAR A. COONS,
1000 Shares, Common, New Orleans, La.
FREDERICK QUERENS, JR.,
40 Shares, Preferred, New Orleans, La
HORACE b. COOK,
10 shares, Preferred, Patterson, La, Per
Pro. o. A. Coons.
JOHN KLEINKEMPER,
Shares, Preferred, New Orleans, La.
THOS. b. BROWN,
10 Shares, Preferred, New Orleans, La
GUS l.. SALOMON,
10 Shares, Preferred, 400 Carondelet St.
New Orleans, La.
g. A. KARAYNE,
49, Carondelet St., New Orleans La. |
Witnesses:
A 8. Frank,
Fred II. Herrick.
> PERCIvAL II. STERN.
Notary Public.
1, the undersigned, Recorder of Mort !
cages, In and for the Parish of Orleans.
state or Louisiana. do hereby certify that
the above and foregoing Act of Incorpora-
ton, OF the CoOns Silo and building 60
Inc, was this day duly recorded in nv
once, In Book 1928, folio IS, New Orleans.
December IL, 1919
tSigned) EMILE j. LEONARD ID r
true copy from the original charter
PERCIVAL H. STERN,
n. Notary Public