The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-18
ACT OF NTION OF VIII
LIAM ID. SEYMOUR CO, INC.

State OF Louisiana. Parish of Orleans
City of New Orleans. BE it known. That
on This thirty-tirst day of the month of
DcrembPr. in the year of our Lord nine
teen hundred and nineteen and of the In
dependence of the United States of Amer
lea the one hundred and forty fourth. be-
fore me. J. Henry Forcclle. Jr. a Notary
Public, in and for the Parish of Orleans.
State of Louisiana. aforesaid. duly com
miSsiOned, sworn and qualified and in the
presence of the witnesses hereinafter
named and undersigned. personally came
and appeared. the several persons whose
names are hereto subscribed. who Severally
declared that, awaiting themselves of the
provisions of the general laws of this
State. providing for the organization Of
corporations, particularly Act 26I of 1914.
they have cOvenanted and agreed and by
these presents covenant. agree and bind
themselves well as all such persons as
may hereafter become associated with
them. to form and constitute a corpora
tion and body polite in law. for the OBJ
jcctS and purposes and under the stipula-
tions and agreements following. tO-wit:
ARTICLE 1.-The name and title of this
corporation shall be William II. Seymour
Company. Inc" and ii shall exist and
enjoy succession by it's corporate name
for period of nincty-nine (99) years
from date hereof. unless sooner dissolved.
with all the rights and powers now or
hereafter conferred by law upon similar
corporations. It's dOmicile shall be in the
City of New Orleans. Louisiana. and all
citations and other legal process shall he
served upon the President. and. in the
event of his absence or inability TO act.
upon the Vice President or Secretary. in
the order named.
ARTICLE 1.-THE objects and purposes
for which This corporation is organized
and the nature of the business to be car
ried on by il are declared to he. to carry
on general merchandise. commercial
brokerage and commission business. To
import and export. buy and sell mt whole
sale and retail. or otherwise acquire and
dispose Of and generally to trade and
deal I'm goods. wares. products. cOmmOdi-
ties and merchandise of every kind and
description. as principal. factor or agent
10 act as buying and selling agents for
merchants and manufacturers in the
United States and all foreign countries
to act as forwarding. export and financial
agents; to establish and conduct ware
houses. and to do all kinds of commercial
brokerage and commission business. And
generally to do and perform such acts and
deeds and transact such business as may
he incidental or germane to any of the
objects and purposes herein set forth :;
the foregoing details not being Intended to
he exclusive, it being intended TO do any
act or thing necessary to carry out aud
accomplish the purposes of SAID corpora
ton.
ARTICLE IU.-The capital stock of
this corporation is hereby liked AT seventy
five thousand dollars (ST5.0OO.U0). to be
shares. of one hundred dollars 500 00)
each: which said stock Shml ne paid for
in cash or in property and good will trans
ferred to said corporation or in work
done for or services rendered to said cor
pOrdtiOn. as may be decided by the Board
of Directors and upon terms to be fixed by
said Board of Directors. All transfers of
stock shall be made on the hooks of the
corporation. and no transfer of stock shall
he in any way binding on the corporation
unless and until it is made in pursuance
to the provisions of this charter. No
stakeholder of this corporation shall he
permitted to sell or otherwise dispose of
his stock without first offering rhP same
in writing to the other 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 all of the shares Of stock
to he thus disposed of by sale or other
wise OF any of the stockholders, and shall
have a period OF ten days in which to ac-
cept or decline said offer. Should the
stockholders decline to purchase said
stock, then such stocknolder is at liberty
to sell or dispose of the stock, and may
do so in any manner and at any price he
may deem fit. Each share of stock is is
Outstanding that no stakeholder shall sell
or otherwise transfer his stock in viola
ton hereof, and any such sale or transfer
If made shall be void. and this corporation
shall be under no obligation TO list said
stock on its books or to regard the holder
of the certificate thereof. Each share Of
stock shall entitle the owner thereof
either in person or by proxy, to cast one
vote at all general meetings. The capital
stock of this corporation may be increased
to any amount not exceeding two hundred
and fifty thousand dollars.
ARTICLE IV.-All the corporate pow
ers of said corporation shall he vested in
and exercised by a Board of Directors.
composed of not less than three nor more
than seven stockholders. to be elected at
an annual meeting of the stockholders to
be held on the first Tuesday of January
Of each year; II the date fixed for said