The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-29
CHARTER.

! ". before me. Charles ROsen. Notary
| Public, duly commissioned and qualified
| i'll and for the Parish of Orleans, therein
| residing, and in the presence of the un-
! derSiEned witnesses. personally came and
| appeared Richard NJ. Murphy, President,
and John j. Sheehan, Secretary, of the
| Louisiana Sugar and Rice Exchange, a
corporation organized under the laws of
this State by act before Nicholas l.. Trist,
Il Notary Public on the sixth day of
March, 1888. recorded i'm Mortgage office
in this parish, in Book 226. Folio 346 and
amended by Act before the same Notary
on January 2Nth, 1880. recorded in Mort
gage office N Book 3;i3. Folio 73S. who de-
clared that M a meeting of the stockhold-
crS of said corporation held on June 2Sth
1920. after fifteen 1Jl days notice. dated
June 10th, 1920. published in the New or
leans eS-Picayune and the Daily States
two daily newspapers published in the
City of New Orleans. State Of Louisiana.
AT which were present or represented one
hundred and Srventy-twO IT2D shares Of
the capital stock of said corporation. Ar
ticle -Four OF the Act of Incorporation WAS
amended by vote of one hundred and
fifty Odd shares in favor thereof a~
against twcnty-Onr t2D shares against the
adoption thereof. 80 a. to read as follows.
tO-wit:
ARTICLE IV.-Thc capital stock Of said
Association shall be- one hundred thousand
dollars. divided into eight hundred shares
Of one hundred ami twenty five dollars
each. which shares shall Ice paid for. in
full or in inStallment> for cash. as called
for by the Board of Directors, who may
from time To time. fix the price ut which
shares of stock belonging to the ASSocia-
ton shall be- sold, which price shall in no
case be- less than one hundred and twenty
five dollars per share. In ease payments
for stock shall he called for i'm install
mDntS. any subscriber TO the capital stock
who shall fail TO pay such inStallmcntS
within thirty 500 days after the date
fixed for such payment shall forfeit all IN
StallmentS previously paid. without being
nut in default. r">erviug to the Board of
Directors the right 10 enforce collection
of the same by legal process. MI Crrtifi-
Gates Of stock shall be signed by the Prr>i-
dent aud Secretary. except that the Board
Of Directors may designate other duly
elected Officers to perform this duty in
event of inability Of tn" President. or See
rotary. to act. Holders of certificates of
stock of the par value Of two hundred
fifty dollars. issued prior to the adoption
of this article. shall b" entitled to eN-
change such certificates for new crrtifi-
Gates of the par value of one hundred
twenty five dollars on ia" basis of two Of
the new shares for each one of the Old
shares upon surrender of such certificates.
AppearerS further declared that AZ said
meeting Article Five of the Act of IncOr-
pOratiun was amended 10y vote of one
hundred and forty-five G4J) shares in
favor thereof with none against and TWEEN
ty-one (2D shares not voting. 80 as To
read as follows. tO-wit:
ARTICLE V.-Every member Of this As
Sociation shall be- required 10 he the holder
of nj least one share Of the capital stock
of said Association in his. or its. own
name. but after the date of the adoption
of this article. no shares owned by the
Association shall he issued To any one
person. or association of persons doing
business rs a partnership or corporation.
except for membership purposes.
AppearerS further declare that Article
Seven Of the Act of Incorporation was
amended by vote Of one hundred and
forty-five GijD shares in favor thereof.
with none against and twenty one (2D
shares not voting. 80 as TO read a. follows.
tO-wit:
ARTICLE VII.-Al the powers of this
Association are vested in. and shall he eN-
erciSed by Board Of Directors. composed
of u President aud sixteen members. The
President and eight Directors shall be-
elected annually on the first Monday of
November each year. or as soon thereafter
as possible. in the rooms of the ASSocia-
ton. between the hours of 10 \. VI. ana
L. VI. The President shall hold office
for a term of one wear and the Directors
for a term of two years. The seven direc-
tors elected in November. 1919. together
with another to he selected 10y the Board
of Directors. shall hold office until No
vember. 1921. The Board of Directors
shall also select an additional director to
bring the number of those elected in No
yembcr. 1918. up to eight. all of whose
terms shall expire in November, 1920 Each
member shall be entitled to one vote. in
person. or by special power of attorney.
by ballot and majority of the votes so
cast shall elect. The Board of Directors
thus elected shall enter upon the duties
of their office on the first Wednesday fol
lowing their election, and shall have entire
control and management of the affairs of
the Association. with power to rent. or
lease. and fit up such rooms aS may be
required for the purposes of the Exchange.
and tn appoint Secretary. and such
other officers and employees, with such
salaries as they may deem necessary. The
said Board shall have authority 10 fill all
vacancies in its numbers from among
members of the Exchange for uneNpired
terms. and is hereby vested with full
power to frame and adopt such rules and
regulations as 1t may deem requisite and
necessary for the Association. and the
transaction of its business. provided the
same do not conflict with the Constitution
and Laws of the United States and this
State. or with its Charter; they shall also
have the power to make contracts, leases.
mort gageS and compromises. to borrow
money and issue bonds buy and sell real
estate and do all and singular such acts
as may be necessary to carry on the bust
ness and further the objects of said AssO-
citation. The Board may also prescribe
rules and regulations for the admission Of
visiting members.
Appearers were authorized and in
strGcted to take such legal steps as may
be necessary to formally comply with the
law and to make an authentic act of said
Accordingly appearers here
and in behalf of said LOUISIANA SUGAR
AND RICE EXCHANGE, and declare that
the Act of Incorporation thereof has been
amended by the stockholders as shown
above by more than three-quarters "a of
the stock present or represented at said
meeting. having voted in favor of all of
said amendments.
Appearers annex hereto certified copy
of the Minutes of said meeting and of said
special notice. which they hereby declare
was given to all of the Stockholders. GER
titled by the Secretary of Said Corporation
under the seal of the Corporation.
Thus done and passed in my office. on
the day. month and year herein first above
written. i'm the presence of Edmund CabirO
and Emile \. RainOld. competent witnesses.
residing in this city. who have hereuntO
signed their names with the said appearerS.
and me. Notary, after due reading of the
whole.
LOUISIANA SUGAR < RICE EXCHANGE.
BY r. NJ. MURPHY. President.
JOHN J. SHEEHAN, Secretary.
Witnesses:
4. Cabiro Emile 4. RainOld.
(SeaD CHARLES ROSEN.
Notary Public.
]. the undersigned Recorder of Mort
al, Darfgh Of OIL