The herald., 1920-03-18
CHARTER.

! nr otherwise in the state of Louisiana or
! within any other state, territory or pos
| session of the United States of America or
any foreign country and with full power
| and authority to perform and execute any
and all acts connected with or arising
| thcrefrOm or incidental thereto.
Section Six: To carry on and under
! take any business. undertaking, or opera
! ton commonly carried on or undertaken
! bv merchants, commission men, factors,
! importers exporters. manufacturers ana
! agents and in the course OF Such business
| 10 lend money, obtain and procure credit
| for the corporation or any person. firm
! or CORPORATION with whom this corporation
! shall or may enter into or DO business
with and in the course Of said business
undertaking or operation this corporation
! i authorized to draw, accept. endorse,
| guarantee. acquire. sell deal in. hNpothc-
! cate. pIrdcr and dispose of any aud all
negotiable and TRANSFERABLE" documents ana
securities Of every nature and KIND.
Section seven: To buy. sell, lease and
sub-Iet real estate. personal and mixed
property.
Section eight: To build. construct. hire
charter or othcrwiS" acquire, own, "Stah-
Ii>h. maintain. hold. lease and operate
| factories. warehouses, agencies, d"poI~.
huiIdiugS structures accommodations, no
tells offircS. works, plants. machinery ANA
All things Whatsoever, of every nathr"
and kind. either in tn" state of Louisiana
I or within any other state or territory or
| posScS>iun of the United States of Am
erica or foreign country or countries.
Section Nine: To buy, sell build. con
struct. contract for, hire. lease, charter
or otherwise acquire, maintain and "P-
crate steamships. steamboats,. tugs. harS's.
sailing vessels and other vessels OF every
description and designation and TO op-
crate same inland or coa>twi>" serve"
i'm the United states or between any port
or ports of the United States of America
or any foreign country OF countries and
generally to carry on business Of ship
building. ship repairing. drydocklnS ~
owners operators, brokers. rhartrr"rS'
manufacturers and agents and to enGdg"
in the carriage of mail express, baggage.
passrngrr<. freight and merchandise 81
every description for this corporation or
for any and all individuals. firms. cor
poratinuS and governments. either IN or
. on vessels owned by this corporation or
i'm or on vessels under charter. lease, con
tract or hire unto this corporation
D Section Ten: To buy, sell build con
Struct. contract for. hire and leaS" ana
. | otherwise acquire. maintain ana operate
! railroad lines necessary for the tran>por,
tatiOn and conveyance of goods, Commo-
r ditirS and merchandise. either i'll the
state of Louisiana or other states. terri
| tories or possessions OF the nittd states
| of America or in foreign countries.
Section Eleven: And to do all things
necessary and incidental to the wing
p out of the objects and purposes for when
this corporation is organized: and Tor
I
| the state of Louisiana and within any
= other state or territory or possession OF
+ thr United States of America or foreign
f country that will permit the same.
: ARTICLE IV.-ThiS corporation shall
q have all the rights and privileges granted
a by law To such corporations and shall
a have power TO contract, sue and he sued
in its corporate name; to make ana Us,
/ corporate seal, the same TO break ana
[ alter at its pleasure: to buy. sell, own
4 hold lease. receive convey, mortgaE" ol
9 plcdgc property. both real. personal ant
e mixed; to issue bonds. notes ana otn'I
n obligations; to have. enEaC" ana employ
: such officers. managers and employee
rs the business may require: to fix th"ll
ID. compensation; to make. adopt and "Stah
!. liSh such bylaws, rules and regulations
: in the corporate name. not repugnant Il
' | the charter of this corporation or the law
| of the state of Louisiana or other states
| territories or possessions of the United
Y STATES of America or foreign country ii
u which il shall engage in business. lot th
q mana cement of the corporations atfalr>
| aS the stockholders and board of direc
n tors may deem necessary and eXpedient
d ARTICLE V.-The authorized capita
I stock of this corporation shall be on
d hundred thousand and OO-lOO (SlOOOOOOO
:. dollars represented by one thOusan'
e. Il OOO) shares of the par value of on
IL hundred and 0O-1Od (Slm.OO) dollars each
Which capital stock may be increased {
the sum one million dollars (SlOOOOOO) d
, the manner prescribed by law.
Said authorized capital stock shall con
SiSt of two 90 different classes. one there
of to be known and designated as pre-
fcrrcd stock and the other as commo
stock.
- -Secfio1 one. The amount OF the pre-
r ferred stock is determined and fixed a
r fifty thousand dollars (SJ0.0OOOO) divide
If into and represented by five hundre
v (5OO) shares of the par value of one hun
p drpd dollars (S1OO9O) each. which sal
| IN ha n rpppiyp Whp
and as declared. from the surplus or ne
profits of this corporation. yearly div
dend of ten per cent (lOfC) payable an
nually in such installments as the boar
of directors may declare.
The said dividend shall he cumulativ
from and after March l, 1920 and shall h
payable before any dividend on the CON
mon stock shall be paid or set apart
Should the net profits or surplus j
any year be insufficient to pay any {
said preferred dividends, either in who
or in part. any unpaid portion theret
Is shall be charged against the net profit
W of the corporation and shall be paid
y, ,e full out of said net profits or surplu
~ before any dividends are paid or 81
u aside for the common stock.
ne The said preferred shares or sue
n amount as may be then outstanding shall
h. in the event of dissolution or liquids
in ton or distribution of the assets OF On
- corporation be paid in full up 10 thel
= par value plus accrued and unpaid div
"a dends mt the rate of ten per cent QOf5
"a per annum before any amount shall .
os | distributed among or participated in
Iy | owners of the common stock and sal
~ | preferred shares shall not then therea
m ter participate further in the dlStrlDl
- ton of assets of this corporation.
IL Section two: The amount of the con
ly mon stock is determined and fixed
al fifty thousand dollars (SJO.OOOOO) divide
he into and represented by five hundred tJW
If shares of the par value of one hundre
py dollars (S1OO00) each and said stock Sha
Dy be entitled to receive out of the net pro
nd its such dividends the board OF dire
or tors may declare from time to time, q!
IL cppt that no dividend shall be declared
nd paid on common stock until accrued div
nd dends on the outstanding preferred stO'
D. has been declared and paid.
In the event or any liquidation or di
of solution or distribution of the assets
n this corporation, the common stock sha
by share in the assets of this cOrporatiO
n after and only when said preferred shar
or | or such amount as may be then outstan
ne ing shall have been paid in full, p
m value, plus accrued and unpaid dividend
Section three: Said stock shall be pa
- for in cash when subscribed for or san
~ NAV be issued for property actually I
| ceiyed or services rendered unto sa
IA corporation, but said stock shall not
81 issued for less than par.
V No share or shares of the capital stO
10y of this corporation shall be sold or othe
~. wise disposed of by any OF the stoc
W holders. unless the said share or shar
hfa on