The herald. [volume] (New Orleans, La.) 1905-1953, 1920-01-08
CHARTER.
OF LEON ISRAEL & BROS
rHARIEh V.rENAsN NC.

NVtn.s In and for tnt bDONt HdElsu
qusnne. hsrein residing, and in the presence
state t,i,nesses hereinafter named and
OK tne,nad personally came and appeared
unoereeraI nartics whose names are here
me snbscribed, who severaiiy declared
un'o sSsiIing themselves OF the laws OF
!Ss state Of Louisiana III sucn cases Hnaus
me 1nroyided, and more particularly OF Act
and -. General Assembly of the State
M o;sjsna of 1914, relating to the crea-
organizatiOn and formation OF cor
non,, they have cOvenanted ana agreed
Pofass' these presents do hereby covenant,
and " Nd hind themselves, as well as all
sgrN nersons as may hereafter become
ONE, with them, TO form corpora
asse e. the objects and purposes under
uoA .rticIes and stipulations Following,
me they hereby adopt as their charter,
p.p1T,cIE 1.-The name and title of this
As,stion shall be Leon Israel & Bros.
eS%.rssl Inc and under its corporate
u n shall have power and authority to
ssss and enjoy corporate existence for a
ba' ,S of ninety nine years from date
pess nnIess sooner dissolved by hqui-
nelssn ar otherwise. 1t snail have power
es.rtrset: to sue and be sued to make
Wsse corporate seal, and to alter and
sss.t the same at pleasure; to hold, re-
,.a lease purchase. transfer, assign,
srt.sge. hypothecate, pledge or other
.sss dispose Of property, real, personal or
49, rorporeal and incOrporeal; to issue
hn,ds and, II desired, TO secure same by
nrtgage: to hold stock in other COM
a,ss. 10 name, elect and appoint such
Psnseer. agents, directors, and officers as
u intsrest and convenience of said corpor-
Elan NAV require; TO make and establish.
s,tc, and amend, bylaws, rules and regu-
istions for its proper government, as may
10 deemed necessary and proper for the
Sv,snsion of the business in which the cor
ncrstion Is engaged.
Po.pTICIE 1.-THE dOmicile of this cor
.arstiou shall be in the City of New Or
Rsns state of Louisiana, and service Of
nrocess shall be made upon the President,
AZ In his absence, upon the Secretary.
tRTICLE IlI.-The objects and purposes
a, which This corporation is organized and
rrsated and the nature of the business to
hs carried on by II are declared to be as
follows: To engage in brokerage and
sommissjon business; to buy and sell. at
wholesale and retail, or otherwise acquire
"a dispose of, import aid export, and
Generally to trade and deal in goods,
Tares products, commodities and mer-
ehapdise Of every kind and description as
principal and, or agent and, or broker
Ia sct as agent and broker on commission
ar otherwise in buying and selling or
etherwise acquiring and disposing of, i'm
porting and exporting, dealing and trad
Inc IN said goods, wares, products, COM
modities and merchandise; and generally
Ia 10 and perfornIsall things pertinent and
necessary to carry out and execute the OBJ
jects and purposes herein above enume-
fsied.
IRTICLE Iy.-The capital stock of this
corporation Is hereby 1xed at the sum OF
twenty thousand (S20.O0OOO) dollarss and
shsIi be divided into and represented by
two hundred (200) shares OF common
stort' OF the par value of one hundred
0lO0OO) dollars each. Said stock shall
10 maid for In cash. or by property or
services actually rendered to the corpora
liant nf oh IA n
vided by law, and in such manner and
Al such times and in such installments as
msy be prescribed by the Board of Di-
rectors. This corporation shall become a
going concern and shall be authorized to
Commence business as soon as fifty per
eept OF Its capital stock shall have been
subscribed and fifty per cent OF all stock
subscribed for shall in fact have been paid
for either in cash or its equivalent. >.
ARTICLE v.--The capital stock of this
corporation may be increased to the sum
az CITY thousand $50,000O0) dollars by
vote Of two-thirds of all the stock pres
ert or represented at a special meeting
called for that purpose or ut regular
annual meeting Of the corporation.
ARTICLE yI.-AIl certificates Of stock
issued by this corporation shall be signed
BY the President and countersigned by
tie vice President, or IL authorized by
resolution of the Board of Directors, shall
be signed by the President and counter
signed by the Secretary and Treasurer
The stock of this corporation can bt
transferred only on the books Of the cor
postion and subject to such regulations
and formalities as may be by the Board
Of Directors from time to time prescribed
No stockholder shall be permitted to sell
or otherwise dispose of his stock without
first Offering the same in writing to the
ether stockholders through the Board OF
Directors at a price not exceeding the
book value thereof; and said stockholders
In proportion to their holdings, shall have
an option and first right to purchase al
the shares Of stock to be thus disposed
Il b. sails or otherwise of any of the
stockholders. and shall have "A period Of
ten days In which to accept or decline
said offer. Should the stockholders de-
Glide TO purchase said stock, then such
stakeholder Is at liberty to sell or dispose
Of the stock, and may do so in any man
ner and at any price he may deem fit
each share of stock is issued herein upon
the condition and understanding that nc
stakeholder shall sell or otherwise trans
fer his stock In violation hereof. and any
such sale or transfer IL made shall be
void, and this corporation shall be under
no obligation to list said stock on its books
o. to regard the holder of the certificate
thereof.
ARTICLE VII-The corporate powers
OF this corporation shall be vested in and
Exercised by Board of five Directors
Tor the transaction of business. The Di
rectors Of this corporation may vote In
person or by written or Geographic proxy
any OF the meetings of the Board OF
ifrectors: and the Board of Directors may
delegate any Of its powers to any Officer
OF officers or any other representative Of
me corporation by appropriate resolution
70 mat effect. The first Board of Direc.
lcn OF this corporation shall be composed
me following: Sam Israel, President
IaEa AL NJ
iutmann, Secretary Treasurer: Leor
ifaei Frank j. McKenna, and they shall
se until the second Wednesday of Jan
uMy, 1921, or until their successors ar,
seted and qualified. The Directors shall
ne second Wednesday Of January in eacf
yeaf after date hereof. Notice of SAID
rung shall be given ten days prior Il
.e cate OF said meeting, in writing, sen
registered mail to each stakeholder a
Sar9 OF Directors may change the dat
\. no annual meeting to any other date
written notice to that effect, sent a
49,, nIteen Gays prior to the date Il
SAID annual meeting shall be chang
ssscs directed BY registered mail to eacf
ssxnoider at his last known place o.
noence. Each stakeholder shall, at sucf
A. si meeting or other meeting, genera
speeiai, be entitled in person or BY
~ aen or Geographic proxy to one vote
N. sen snare Of stock owned by him
mi. eection shall be held under sucf
H. ana regulations as may be from
n;ss,. 20 time determined by the Board o.
sh.uvrs. The Directors when elected
thai. nolo onice for one year or unit
"a successors shall have been elected
ma, gusnned, and failure to hold the an
ssc.. meeting Of stockholders or to cleo
ferssssy Directors shall not operate tn,
Ntuie OF this charter or any right.
Ros,S ~ Any vacancy occurring in tbs
DirsssE directors may be filled by tn,
I'M H.