The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-25
CHARTER.

operate the same; To buy and sell, and
generally to deal in, all kinds of cotton ana
cotton by-products, baggings, ties, ana
accessories; to buy and sell and generally
TO deal in the objects above speclileu'
either for the purpose or domestic snip
ment or foreign export; for It's own use
and account or as the factor or agent ior
others, and, generally, to do ana perform
all other things incidental or germane 10
the objects and purposes above expressed
ARTICLE IV-The capital stock of this
CORPORATION is hereby fixed at the sum OF
one hundred and fifty thousand dollars
$3.50 900 OO), divided into fifteen hundred
shares of the par value OF one huhureI
dollars each Said stock shall be issued
only for cash or in payment OF properly
received by or services rendered 10 salu
corporation. Said stock shall be fully
paid for at the time of its issuance, anu
| thereafter be worcestershire. The SAID APP
| hearers declare that they each hereby sub
| scribe for the number of shares OF the
| capital stock of said corporation set OPP
| posite their respective signatures hereto;
| No present or future stockhOlder shalI
| ever yalidly sell, assign, or transfer, other
! than by inheritance, any of the capltai
| stock of this corporation until the same
| shall have been first offered to the re-
| naming stockholders for the Denetlt Oh
| those stockholders who may desire to pur-
! chase the same, through the Board OF
| Directors. for period OF ten days, at the
book value of such stock as shown by the
books of the corporation, on the LIST DAY
! of October last preceding the date or sucn
offer. II shall be the duty of the Board
of Directors, promptly, upon receiving an
offer of sale of any of the capital STOCK
of this corporation, TO communicate the
same to the stockholders, in writing,
through the secretary of the company ana
each of the said stockholders snail De
entitled to purchase such proportion OF
the stock SO offered for sale as the num-
Der of shares owned by him at the time
bears to the number of shares owned by
all other stockholders desiring TO partl-
| rsh7
foreclosure, attachment or other process
or by virtue of any power OF attorney
pledge or hypothecatiOn shall be validity
made until the foregoing requirements
: have been complied with by the person
or persons, firm or corporation proHoklng
such foreclosure or sale. The Board OF
Directors shall have authority, however,
| to waive the above requirements as to any
particular hypOthecatiOn or pledge OF
stock, by resolution adopted at a regular
called meeting of the Board, or at meet
ing attended by all of the members OF the
Board of Directors, such resolution being
adopted in advance of the pledge or ny
pothecation.
ARTICLE V-All the powers of thi:
Corporation shall be vested in and be eX
7 ercised by a Board of not less than three
nor more than five directors, as determined
in advance each year by the stockholders
3 and the first Board shall be: W. ). X
Became who shall be president; George Z
q | McCardell. who shall be yice-preSident ant
y | general manager; Alpheus c. Beane, VIII
i | shall be secretary treasurer; l.. Il. Nor
q man and William May.
q The above named Board of Director
and officers shall continue to serve unit
\, the second Tuesday in January 192l Il
d which time and annually thereafter. tn
: stockholders shall elect from their ow
# number the directors of the corporation
!. The above named board Of directors an
4 each succeeding board shall continue I
/. hold office until their successors ar
20 elected and qualified. The persons to b
= hereafter elected directors shall select froI
lc their own number president, one Q
~ more vice presidents, secretary, treas
w urer and a general manager Any two {
Q, the above named officers, with the eA
nv ceptiOn of president and vice-preSideI
- | NAV be combined and held by one person
o. on the second Tuesday in January 1872
r. and annually thereafter, the stockholdel
on shall elect a board of directors for IL
v. ensuing year, except when such day sha
in fall on a legal holiday, then upon Il
81, next succeeding lay day.
The election of directors shall be
ar ballot and the persons receiving the large
er number of votes cast shall be declare
ON elected. For electing directors or for al
he other purpose, each share of stock sha
nv | be entitled to one vote, whether prese
IN or by proxy, but no fractional share shi
no | be entitled to vote. A majority OF Z
70 directors voting at any one time, eth
X in person or by proxy, shall be requir
of TO pass any resolution or adopt any b
nv law, and which when so adopted sh;
\ become valid corporate acts. provided
a. quorum of the directors were present,
do person or by proxy, at the time of su
action. In case of vacancy on the boa
or among the officers, caused by dea
"a resignation or removal, by two-thlrds
ied the vote Of the board, or for any 9th
Oh cause, the remaining members or
M board shall have the power TO enact su
lcis BYLAWS, rules and regulations as, in tn
OIL opinion, may be necessary and proper
the management, operation and cont
of the business Of said corporation.
my ARTICLE vI-Notice of all meetings
De stockholders for election of directors.
SEQ for any other purpose, shall be given
OF writing by the secretary, to be deposi
the in the mail at least ten days before 81
ors meeting is held, and directed to e,
the stakeholder at his last known address,
ny the same shall appear upon the books
Mes the corporation, unless said notice
ach waived in writing by all the stockhold
for appearing upon the books. At all MI
Any ings OF stockholders majority OF
for decide all questions voted upon, except
the alteration, amendment or the diss'
ting ton of the corporation.
niue ARTICLE vII-This act Of incorpt
uly. ton may be altered amended or modt
sue or this corporation may be dissolved
and with the assent Of the holders
" three fourths in amount Of its then
con- standing stock given at general meet
lers' of the stockholders to be convened a
re- fifteen days prior notice, to be given
ID. one of the daily newspapers published
a in the city of New Orleans, in addition
day personal notice to each stakeholder,
elm provided under Article vi of this chal
retta and such changes as may be made In
tent erence to an increase or decrease or
rers capital stock shall be preceded by
res notices. delays and fOrmalities as are
quired by law. And in the event OF
- dissolution of said corporation, either
~ Limitation Of it's charter or otherwise
affairs shall be liQuidated by three c
missioners. to be appointed and ele
lb at a special meeting called for that
Tort pose as above provided, ana VINO l
cans, | remain in offlce until the aIIairs OF
that corporation snail pc 1ully nquinateu.
I of in case of the death or disability of
ct & or more of said liquidators, the sury
day or survivors shall act in his stead.
1898 ARTICLE vIII-No stakeholder
1920. ever be held liable or responsible for
I'd. contracts or faults of this corporatio
my any further sum than the unpaid bal
Pub due to the corporation on the shares oy
by such stakeholder. nor shall any
. informality in organization have the
L. feet OF rendering this charter null o
exposing a stakeholder to any liah
beyond the extent of his unpaid s
II any.
Thus done and passed at my offic
New month ana yeor first bereinabove wri
j, the a. Tho nrasenca Of Rurt w Henry
uary, Warriet Stuttgart comnetent witns
sand, Who berennto signed their names. fog
lie In u;tb mo soid notary and the said
meri- hearers have hereuntO signed opposite
1f eko 90 40