The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-08
CHARTER OF RUSSELL SUGAR COM
PANY. INCORPORATED.

United States of America. State of Lou,
lsiana, Parish of Orleans City Of New or.
leans BE il known. That on this first
day of the month of April in the wear Of
our Lord. one thousand nine hundred and
twenty, before me. bernard Titche a No,
tary Public in and for the Parish of Or
leans. State of Louisiana. duly commits
stoned and qualified, and in the presence
of the witnesses hereinafter named and
undersigned, personally came and appear-
ed the several persons whose names ar,
hereunto subscribed. who severally de-
clared that awaiting themselves of tn,
laws of the State of Louisiana relative tC
the organization of corporations they have
covenanted and agreed and bind them
selves, as Well as such other persons who
may hereinafter become associated with
them, or their successors. to form and con.
stitute a corporation and body poIitic in
law. for the objects and purposes and un.
DER the agreements and stipulatiOns fol
lowing, to-wit:
this corporation shall be Russell Sugar
Company. Incorporated. and under that
corporate name il shall have and enjoy ali
the rights and privileges granted by law
TO corporations; il shall exist for a period
hereof
ARTICLE H-Thc domicile of said cor
pOration shall be the City of New Orleans
Parish of Orleans. State of Louisiana, and
all citations and other legal process shall
be served upon the President of the said
corporation, and, in the case of his alb
Scnce, upon the Vice President and in tba
case of the absence of both of these Off
GERS. upon the Secretary Thereof
ARTICLE lII.-Thp objects and DUR
poses for which this corporation is eStab-
liShed, and the nature of the business 70
he carried on by it, are hereby declared
10 be, to carry on a general commission
business, and to buy. sell and deal i'm
mOlaNSes. sugars, SyrupS. merchandise
goods. wares. food commodities and pro-
nd 10,
ms commission merchants and brokers
and as buyers, sellers and dealers; to buy
sell and lease plants. tank cars, tank
bargeS. tank vessels: to erect storage and
canning plants. and any and all appurten-
anc"S necessary for carving out the oh
lectS and purposes Of the company: ia
nave branches at any points necessary.
either in the United States or elsewhere
for the successful operation of said bust
ness.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed AT the sum of
one hundred thousand dollars $500 600 OOl
divided into one thousand q .OOO) shares of
the par value of one hundred dollars
tSlOdOO) each. each share to be paid for
IN such manner as the Board of Directors
may determine. The amount of the can
ital stock may he increased TO two hum
dred thousand dollars $500 900 OOl. and
the said corporation shall be authorized
10 begin business, and shall be a going
concern when fifty per cent of it's canitaI
stock shall have been subscribed and
fifty per cent of all stock subscribed for
shall nave been paid in. All sales and
other transfers of any of the stock of This
corporation shall be void unless said stock
snail have been previously offered to the
then existing stockholders. through the
Board of Directors. mt stimulated Drice
ana II the Board. for the said StOckhOld-
erS, does not see fit TO purchase said stock
then IL shall not be sold at a less prica
or upon more favorable terms. without
likewise offering il 10 the Board nj such
price and upon said terms In ease of
increased capital stock. the then holders
OF stock of the company shall have the
right to purchase said stock in the ratio
or their holdings of stock of the COMPANY
No sale or transfer Of stock shall be bind
ing upon the corporation unless made
upon MS books. and said transfer shall be
made only upon surrender or proof of
loss or destruction of the outstanding Ger
tificate.
ARTICLE V.-An TIE corporate powers
and authority of this corporation shall be
vested in, and the management and CON
troll of its affairs shall be exercised by
a Board of Directors. composed of three
stockholders, to be elected annually by
ballot at a general meeting of the stock
July in each year. No failure to elect
Directors shall be regarded as a forfeiture
of this charter. ANY vacancy occurring
on the said Board shall be filled by the
remaining Directors for the uneXpired
term. Said Board of Directors shall at
the first meeting after it's election. elect
of its number a President. a Vice Presi-
dent. Secretary and Treasurer. both of
which last two officers may be combined
in one person.
ARTICLE VINO stakeholder shall ever
be held liable for the contracts or faults