The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-04
CHARTER OF THE MERCHANTS TRAD
ING COMPANY INCOR-
PORATED.


PORATED.
United States of America, State of Lou
isianH, Parish of Orleans, City of New Or
leans. BE it known, that on this day, tht
twentieth of the month of February, IN
the year of our Lord one thousand nine
hundred and twenty, and of the indie
pendence of the United States of America
the one hundred and forty-fOurth, before
me. BuSsiere ROucn, notary public In
and for the parish of Orleans, state OF
Louisiana, duly commissioned, sworn and
qualified, and in the presence of the wit
nesses hereinafter named and undersigned,
personally came and appeared:
The several persons whose names are
hereunto subscribed. all of the full age
of majority, who declared that, awaiting
themselves of the provisions OF the laws OF
this state relative TO the organization of
corporations and more particularly Act
No. 267 of the General Assembly of this
state, approved July 9th, 1911: they have
.COvenanted and agreed and do, by these
presents, covenant and agree. and bind
themselves to constitute for themselves. as
well as such persons as may hereafter be
come associated with them, n corporation
and body polite in law, for the objects
and PURPOSES, and under the stipulations
following, to-wit:
ARTICLE 1.-The name and title of this
CORPORATION shall be: Merchants Trading
=
name il shall have and enjoy all the rights.
privileges and advantages granted by law
TO corporations; it shall exist for period
of ninety nine years from this day; 1t
shall have the power to contract, sue and
be sued in its corporate name; to make
and use a corporate seal, and the same to
break or alter at pleasure; TO hold, re-
ceive, purchase, convey, mortgage, ny =
pothecate or pledge property, both real
and personal; to issue bonds, notes and
other obligations or negotiable instru-
ments; to have and employ such managers,
directors, officers, agents and other en-
ployees as the interests and convenience
of said corporation may require or de-
mand; to make and establish such by
laws, rules and regulations for the corpor-
ate mana cement and control OF the al :
fairs of the corporation as may be deemed
necessary and expedient.
ARTICLE 1.-THE dOmicile of this cor
poratiOn shall be established in the city
of New Orleans state of Louisiana, and
all citations and other legal process shall
be served on the president, in his absence
on the vice president, and in case OF the
absence of both on the treasurer.
ARTICLE III-The objects and pur-
poses for which this corporation is or
ganized and the nature of the business TO
be carried on by IL are hereby declared 10
be: to buy and sell, import and export
prepare. deal and trade in foreign and DO
nestle commodities. foods, goods or things
and to do generally a wholesale grocers
and provision merchants business; and
TO do, and engage in, any other
business undertaking or enterprise con-
nected with. growing out OF. germane or
incidental to- any of the purposes herein
above set forth or contemplated by this
charter.
ARTICLE Iv-The capital stock of this
corporation is hereby fixed at the sum OF
wenty- nine thousand dollars S2SOOoOo),
divided into. and represented by two hum
ired and ninety (290) shares of the par
value of one hundred dollars ($lOO.Oe)
zach. payable in cash at the time of sub
All shares of stock shall be full paid
and worcestershire. This corporation shali
have the right to increase It's capltal
stock to the sum of one hundred thou
sand dollars (SlOO.OOO.OO.
No transfer of stock shall be binding
upon the corporation unless made upon
the books: and all certificates of stock
shall be signed by suCh oiflcerS as may
be designated by the Board of Directors.
ARTICLE V.-All the corporate powers
Of this corporation shall be vested in, and
the management and control of its af-
fairs shall be exercised by Board or Dl-
rectors composed of five stockholders; the
of which Board may be in
creased to a number not exceeding seven
by the Board of Directors, at any of its
regular meetings. A majority OF the Oh
rectors shall constitute quorum for the
shall be elected by ballot annually on the
second Tuesday of January of each year,
and a majority of the votes cast shall be
necessary to elect. Each stakeholder shall
be entitled, in person or by proxy 10 q
,ote for every share owned by him. All
Elections shall be held under such rules
and regulations as may be determined by
he Board of Directors, after fifteen days
notice of such election shall have been
sent to each stakeholder at his or her
asst knoGn address. The directors thus
.lected shall continue in office for one |
Tear, or until their successors have been |
luly elected and have qualified. No fail |
ire to elect shall be regarded as a for |
eiture of this charter. Any vacancy oc-
urring on said board shall be filled by |
he remaining directors for the unexplred
ERIN; the said board shall likewise elect
he additional members in case they should
determine to increase the number of the
,oard Said Board of Directors shall, at
IS first meeting, after its election. nomi-
ate out of its number, president,
ice president, a secretary and treasurer.
aid board shall have the right to appoint
nd dismiss such clerks, managers ana
Their employee of the corporation as CON
itions may Justify or the business OF the
orporation may require. The tenure OF
ffice of all the employees of the corpora
ION shall be during the pleasure of the
oard of Directors.
ARTICLE VINO sale or other trans
n of stock in this corporation shall be
aid until and unless the corporation has
cen afforded the opportunity to purchase
aid shares of stock at their book value;
he corporation to be given ten days to
etermine whether II Will avail itself OF
he offer of the stock.
ARTICLE Vino stakeholder shall
yer be held liable or responsible for the
,ntracts, faults or debts of said corpora
on, nor shall any mere informality In its
rganization have the effect of rendering
IFS charter NULL or of exposing a stock
older to any liability beyond the unpaid I
alance, II any, due on the shares owned I
Y him.
ARTICLE yIII.-This act of incorpora-
on may be changed, modified or altered,
this corporation may be dissolved, with ,
le assent of the stockholders owning two /
lirds of all the stock of the corporation ,
a general meeting convened for that
nrpose, and after at least ten days writ ,
N notice Of this meeting shall have been ,
ven. through mail addressed to each !
ockholder, at his last known place of !
ARTICLE IX.-In case Of dissolution by ,,
Ie expiration of this charter or other ,
Use. the stockholders shall elect three
luidators from among their number, to
luidate and settle the business and af-
irs Of the company. In case OF death, ;
disability Of any Of said commissioners
liquidators, the survivors or remaining
luidators shall appoint successor &c {
m. The said liquidators shall have full c
,wer to settle said company's debts, and I
vide the remaining money and property Q
nong the stockholders. They shall also c
I'VE power to meet and act under the by I
VS. of this corporation and under reg {
atoms to be made by majority of the I
i'd liQuidators; to fix the price and pres a
ibe the terms of sale Of said property n
d the manner in which the sale may be h