The herald. [volume] (New Orleans, La.) 1905-1953, 1920-08-26
CHARTER.
fees as may be found necessary and

Section 8. To apply for, purchase or
otherwise acquire and use, operate, sell
assign, transfer and otherwise dispose OF.
processes formulas, patents, licenses ana
other rights in any and all inventions or
improvements, whether secured or not
under letters patent domestic or foreign.
Section t. To survey, sub-divide and
plat lands for the purpose of lease or sale
and to improve and develop the same by
the erection of houses or buildings thereon
and TO do such other lawful acts as may
be needful or desirable in and about the
Improvement and development thereon Tor
any purpose; to plan, grow and cultivate
all kinds of fruits, plants and vegetables
to raise buy, sell and deal in horses.
mules, cattle. live stock and poultry of all
kinds. and generally TO engage in the bust
ness of planter.
Section ;. To carry on all allied and as
ISOLATED lines of business which may be
directly connected with or may further
and assist the conduct OF its main bust
ness as above specified.
Section g. To construct, purchase, lease
or otherwise acquire and own. maintain
and operate, steamboats, sailing vessels,
barges and other water craft, piers. docks,
wharves and such lines of tramway or
railway as may be convenient necessary or
incidental 10 any business or enterprise OF
the corporation. with all necessary side
tracks. locomotives, ears, depots, round
houses and other equipment necessary 10
the operation of said vessels, piers. docks.
whHrveS. tramways or railways, and the
traffic thereon; provided that this corpora
ton shall not, without an amendment OF
this charter. be common carrier or have
the right to exercise the power or eminent
domain.
Section Z. To enter into. make. perform
and carry out contracts of every kind not
contrary to law, with any person. firm.
association or corporation, and to carry on
any other business which under the law
it may be entitled to carry on, which may
seem 10 the corporation to be calculated.
directly or indirectly, to effect the afore-
...VI,. nFsal
tate il in the transaction of its aforesaid
business or businesses or any part thereof.
or in the transaction of any other lawful
business that may be calculated, directly
or indirectly. to enhance the value OF or
to render profitable, any OF the corpora
tiOns property and rights and generally
to hold and exercise all such Incidental
powers and privileges as relate TO the
oh jectS and purposes hcreinabOye set forth,
or as may be necessary, useful or con
venient for effecting said objects and
purposes.
ARTICLE IV.-The authorized capital
stock of this corporation is hereby de
Clared to be the sum of ninety thousand
dollars (S9OOOOO0), which capital stock
may be increased in the manner provided
by law, to the sum of two hundred and
fifty thousand dollars. The presently au-
thorized capital stock of this corporation
shall be represented by nine hundred
shares of the par vaSe of one hundred
dollars each. The said capital stock shall
personal property. No transfer of said
capital stock shall be binding upon this
corporation unless made in accordance
with its charter and by laws and recorded
on books thereof.
ARTICLE V.-The capital stock of this
corporation shall be fully paid and non
asseSsable when issued, and shall be is
sued only for labor done or services rem
dered, or for property actually received or
for cash to be paid at such times and in
| such amounts and after such notices as
may be determined by the Board Of Dt-
rectors.
ARTICLE vI-An powers of this cor
| poratiOn shall be vested in and exercised
| by Board of not more than seven "a and
| not less than three go Directors, each of
whom shall hold, in his own name, at least
| one ~ share Of stock. Said Board of
Directors shall be elected annually on the
second Tuesday in January of each year,
| the first election to be held in the year
| 1921 All such elections shall be by ballot,
| at the office of the corporation, under the
! supervision of two (2l commissioners, TO
| be appointed by the Board of Directors,
| and in the absence of any commissioners,
| the President shall have power to- fill the
place by appointment. and OF all such
| elections, as well as of all meetings OF
stockholders, except for the purpose OF
| liquidation or dissolution. or as otherwise
required by law, ten (1O) days notice shall
be given by mailing to each st0ckholder
who appears as such on the books of the
| corporation. at his last designated address,
| or at the general delivery at New Orleans,
| IL he has not designated an address, an
| announcement stating the time and place
! of the meeting. Each stakeholder shall be
| entitled to one vote for each share of stock
| standing in his name on the books of the
| company, to be cast in person or by proxy.
and majority of the votes cast shall
| elect. The Board of Directors shall have
| power to fill all vacancies that may occur
| in the Board. Failure to elect directors on
| the day above specified shall not dissolve
ton hut hn
| in office shall remain in office until their
| successors are elected and qualified Due
notice of another election shall forthwith
be given, as above provided. Such notice
| of election shall be continued to be given
| until an election is held. The Board of
| Directors at their first meeting following
| each annual election shall elect from their
| number a President, a Nice-President, a
| Secretary and Treasurer, and such other
| officers as the Board of Directors shall
| deem necessary. The Board shall have
| power. in its discretion. to unite two or
more offices, and the same to confer upon
| the salaries of all officers and all such
| other officers and employees as they deem
| necessary. The Board Of Directors shall
| have power to make and establish. as well
| as alter and amend, all bylaws, rules and
| regulations necessary and proper for the
| support and management of the business
| and affairs of said corporation not incon-
| sistent with its charter. Said Board shall
also have full power and authority to Dor
| row money, and through the President or
| some duly authorized agent or ageats. 10
| execute mortgages, issue notes, bonds or
| other obligations, in snch amount and on
such terms as in their judgment may be
| advantageous; and generally to do all
| things reasonably necessary for the proper
! carrying on of the business of this cor
| pOration, as also to issue and deliver full
| paid shares of stock and bonds of obliga-
| tons of this corporation, in payment of
| money borrowed, or money. labor, or ser
| vices, and property or rights actually re-
| ceived by this corporation, as heretofore
set forth; and shall have power to do all
| such acts and things as may be necessary
| to carry out the objects and purposes for
which this corporation is organized.
| A majority of the Directors shall con-
any business. At any meeting of the
| Board any Director absent from the meet
| ing may be represented by any other Di-
| rector, who may cast the vote of said
| absent Director, according to the written
| instructions of said absent Director. The
| Board of Directors shall have the power,
| by vote of not less than a majority thereof
| to sell, lease, mortgage, by bond mortgage
| or otherwise, or to pledge, any and all
| OF the property, movable or immOvable
| belonging to the corporation, or to receive
| In exchange therefor, money or stocks or
| bonds or other obligations of another cor
poration, without referring to the share
| holder for the power to do so; and they
may also purchase for stock in this cor
erty of any kind required for any of the
purposes of this corporation, without au.
| thority of the shareholders.
Until the next general meeting to be held
under tins charter on the second Tuesday
! in January, 1921. or until their duly ouali-