The herald. [volume] (New Orleans, La.) 1905-1953, 1920-10-21
CHARTER OF LOUISIANA ACETELYNE
COMPANY, INC.


United States of America. State of Lou
lslana. Parish Of Orleans. Be it known.
| That on this 23rd day of the month of
September. in the year of our Lord, one
thousand nine hundred and twenty (lg2Ol.
and of the Independence of the United
States of America, the one hundred and
forty fifth, before me, Watts h Lev
erich. Notary Public. duly com
mi>Sl0ned and qualified. in and for
the Parish OF Orleans. State OF Louis
lana. therein residing, and i'll the presence
of the witnesses hereinafter named and
Undersigned. personally came and appear
cd tn" several persons whose names are
h"rcunto subscribed, who declared, that,
aNaIlins them selves of the laws of this
state relative to the organization OF cor
Poration>. they have cOyenanted and
agreed, and do by these presents covenant,
agree. bind. form and constitute them
>'lvc>. as well as such persons as may
hereafter join or become associated with
them. into corporation or body polite in
law, for the objects and purposes and un
der the agreements and stipulationS fol
lowing, to-wit:
ARTICLE The name and title of this
corporation shall be Louisiana Acctelyne
Company. Inc. and under its corporate
name II shall enjoy succession for the full
term and period of ninety nine years from
and after the date hereof. and shall have
power and authority to contract, sue and
be- sued; to accept and receive mortgages,
pledges or other hypOthecations; to make
and Use corporate seal and the same TO
break and alter at pleasure; to purchase
! receive. lease, hold or otherwise acquire
and convey, well as mortgage and
/ hypothcCate. under its corporate name
property, both real and personal and
mixed; to borrow money and make and
/ issue bonds and other evidences of debt
and to secure the same by mortgage and
! otherwise; to subscribe to and hold stock
/ in other corporations; to acquire, hold and
] reissue shares of its capital stock; to carry
! out all of the objects and purposes herein
]
1 managers and directors, officers and
| agents. "a the interest and convenience Of
said corporations may require; and to
make and establish, as well alter and
| amend at pleasure such bylaws. rules and
| regulations for the management and rcgu-
lation of the affairs of the corporation as
| may be necessary, proper or convenient,
and generally to do all such acts and
| things as trading corporations are author
1 lied to do under the laws of the State of
! Louisiana.
! ARTICLE 1.-THE domicile of thi. cor
| pOratiOn shall be in the Parish of Orleans.
State of Louisiana. and all citations or
other legal process shall be served upon
the President of the Company. or, in his
absence, upon the Vice President.
! ARTICLE IH.-Thc objects and pur-
| poses for which this corporation is organ
| lied, and the nature of the business to be
carried on by it, are hereby declared to be !:
| To manufacture, buy. sell and deal in
aCetelyne gas, carbides and yor welding
material; to manufacture any and all sorts
| of property, material and devices: to aC-
quire, hold and deal in personal property
| of every character. including stocks, bonds,
obligations and securities of other cor
| pOrations: to exchange the entire capital
! stock or any part thereof for property
which IL Is authorized to acquire; to eX-
change its entire assets and business. or
| any part thereof, for property, stocks,
| bonds or other obligations of other com
| panies, firms or individuals; to buy, sell
lease. hold, develop and improve real
I 1t a
such acts and things as a general trading
| corporation. under the laws of the State
| of Louisiana, is authorized to do.
! ARTICLE Iy.-The capital stock of this
| corporation is hereby fixed at one hundred
| fifty thousand (Sl5O,OOOOO) dollars of the
par value of one hundred (Sl0OO0) dollars
per share. The amount Of said stock may
! be- increased to five hundred thousand
| tS50O,COOOol dollars. No transfer Of stock
| shall be binding upon the corporation I'M
| less made and recorded upon it's books
| No stakeholder shall have n right to trans
fer or convey any Of his or her stock in
the corporation unless and until he or
she shall have first made a written offer
| to the other then stockholders of the cor
pOratiOn, and to the corporation itself, TO
sell his or her stock to them at the book
| value thereof Book value" as used here
| in is hereby defined to mean the value at
which the assets and liabilities of the cor
poration have been in good faith entered
| upon its books. Such written offer shall
I
| erS, and to the corporation itself. colIeC-
| lively, and shall be delivered to the office
| of the corporation not less than ten days
prior to the application for transfer of the
| stock. The corporation shall transmit this
| offer to the respective then stockholders
| and the stock Of the stakeholder desiring
| TO sell shall be distributed prOrata among
! such of the other stockholders as desire to
| purchase, in the proportions in which the
holdings of the stockholders DESTROYS OF
purchasing bear TO each other; and if the
| total which such other stockholders desire
| to purchase is less than the total offered
| for sale then, after each of the other
| stockholders shall have taken and paid for
! the amount of stock which ne or she de-
| sires to buy and to which he or she is en-
| titled. then the remainder untaken shall
| be open for purchase by the corporation
| itself; and unless prohibited by law, the
| corporation may itself use and apply its
| surplus earnings or accumulated profits to
the purchase from any stakeholder desir-
| ing to sell of any portion of that stock
| holders stock which none of the other
| stockholders may desire to acquire, at the
book value thereof; provided, that the cor