The herald. [volume] (New Orleans, La.) 1905-1953, 1920-08-19
CHARTER.
as may be found necessary and

Section 3. 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 4. To survey, Sub-divlde ana
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 ana 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 Dusl-
ness of a 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 busl-
ness as above specified.
Section .. 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 TO any business or enterprise OF
the corporation. with all necessary side
tracks, locomotives, cars. depotS, round
houses and other equipment necessary 10
the operation Of said vessels, piers, docks,
wharveS, tramWayS or railways. ana the
traffic thereon; provided that this corpora
tion shall not. without an amendment OF
this charter be a common carrier or have
the right to exercise the power OF 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
il may be entitled to carry on, which may
seem to the corporation to be calculated.
directly or indirectly, to effect the afOre-
said objects or either of them. or to facili-
tate it 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
lions property and rights, and generally
TO hold and exercise all such incidental
powers and privileges as relate TO the
objects and purposes hereinabove set forth.
or may be necessary. useful or con
venient for effectinS said objects ana
purposes.
ARTICLE IV.-The authorized capital
stock of this corporation is hereby de
Clared to be the sum of ninety thousand
dollars (S90,000.0O), 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 value of one hundred
dollars each. The said capital stock shall
be represented by certificates and shall he
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 he fully paid and non
asSeSSahle 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 Di-
reCtOrs.
ARTICLE VI-AlI powers of this cor
poration shall be vested in and exercised
by Board of not more than seven "a and
not less than three 90 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 (2) commissioners, to
be appointed by the Board of Directors,
and in the absence of any commissioner.
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 (lO) days notice shall
be given by mailing to each stakeholder
who appears as such on the books of the
corporation. at his last designated address.
or at the general delivery at New Orleans.
if 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 a 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
Il. ia
the corporation but the Directors then
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 he 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 Vice President, a
Secretary and a 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
one person. and shall have power to fix
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-
slstenL WIN ltS c01TteT. Sdlu BOARD snail
also have full power and authority to Dor
row money, and through the President or
some duly authorized agent or agents. to
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-
tions 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
stitute quorum for the transaction of
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 ma jority 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
poration or for cash or on credit, prom
erty of any kind required for any of the
thority of the shareh olders
Until the next general meeting to be held
under this charter on the second Tuesday
in January. 1921. or until their duIv ouoIi