The herald. [volume] (New Orleans, La.) 1905-1953, 1920-05-06
CHARTER

absence. upon the Vice President, or. in
| case of the absence of both of these Off
GERS, upon the Secretary thereof.
ARTICLE III.-The objects and pur-
| poses for which this corporation is eStab-
lished and the nature of the business to
be carried on by it are declared TO be to
buy and sell the Grant Quick Ice Machine
TO install machinery in refrigerating
plants; TO take agencies for the sale of
ice machinery; TO acquire rights to pat
ents and the right to manufacture such
machines and generally TO do everything
needful and necessary: TO buy. sell and
market the Grant Quick Ice Machine and
other machines of a similar character, and
TO do all things in connection with the
sale and purchase of such machines.
ARTICLE IV.-The capital stock of this
corporation shall be five thousand dollars.
divided into fifty (JOD shares of the par
value of one hundred (SlOOOW dollars
each. and may be increased to the sum
of twenty-five thousand CS2J OOO.OOD dol
lars divided into two hundred fifty C2jOJ
shares OF the par value of one hundred
(SlOOW) dollars each. and this corporation
Is to be going concern when One-half of
the capital stock has been subscribed and
one half of which subscription has been
paid for. Each share of said stock shall
be entitled to one % vote. either in per
son or by proxy. at all general elections
or meetings of the stockholders.
ARTICLE V.-No stakeholder shall ever
De held liable or responsible for the in
debtednesS, faults or defaults of this cor
pOratlOn. nor shall any mere infermality
in the organization of the corporation
have the effect of rendering the charter
null or of exposing the stockholders to
any hablhty beyond the unpaid balance,
II any, on their subscriptions.
ARTICLE VI.-This corporation shall
nave all powers granted to such corpora
tons by law and shall have the power to
contract. sue and be sued in its corporate
anne, and to own, hold. receive. loan. lease
purchase. sell aud convey or mortgage any
N u fh.asss TN
property and to do any and all acts and
things of any kind. nature or description.
as may be necessary to carry out the oh
jects ann purposes of said business as its
interests and cOnveni"ncCS may require.
ARTICLE VII-The business of this
corporation shall be directed by and vest
ed in Board of Directors of three mem
bers. two of whom shall constitute a
quorum for the transaction of business,
and the said Board of Directors as first
constituted shall be composed of +. Il.
Virgin. Duncan Nreeland and f. \. Virgin.
and they shall hold office until the third
Tuesday in March. 1871 and on that day.
and on the same day thereafter each year
elections shall he held for Directors at
the principal office of the corporation and
the election shall be held between the
hours of ten and twelve a. IN. Failure to
hold an election on the day specified shall
not dissolve the corporation. but the hi
rect0rS shall hold their respective offices
until an election shall be held after thirty
days notice of the time and place thereof
given TO each stakeholder. The said Board
OF Directors. at their first meeting, shall
elect from among their number Pres
ldent. Vice President and a Secretary
Treasurer, provided. however, that the
Secretary need not be a stakeholder or
member of the Board of Directors. and
any vacancy in that office shall he filled
by the Board. Directors may act either
in person or by proxy.
ARTICLE YIII.-Whenever this corpor-
alton is dissolved. either by limitation or
for any other cause. its affairs shall be
liquidated by the Board of Directors who
are hereby vested with full power to sell
any or all assets of the corporation. either
separately or in mass. and 10 convey
full and complete title thereto, and shall
have full power to do and perform all acts
necessary and proper to fully and COM
pletely iquidate the affairs and distribute
the proceeds. If any. among the stock
holders of the said corporation to the
amount of stock held by each.
ARTICLE IN.-This act of incorporation
may be amended, altered and modified or
this corporation dissolved in the manner
provided by law.
Thus done and passed in my notarial
office. in the City of New Orleans on the
day, month and year first above written
in the presence of Amanda c. Stechmann
and Ruth VI. Seller. competent witnesses
who hereunto sign their names, together
with the parties hereto and me, Notary
after reading Of the whole.
Witnesses: Amanda c. Stechmann, Ruth
VI. Seller.
f. Il. Virgin. 75G City Park Ave. New
Orleans. La. n shares: Duncan Vrceland
502 Nashville Ave. New Orleans La. -
shares: Edwin \. Virgin, T56 City Park
Ave, New Orleans. La. share.
\. A. MORENO. Notary Public.
Anr & May