The herald., 1920-09-02
CHARTER OF PI-FINNE FEED CO.,
INCORPORATED.

United States of America. State of Lou
isiana, Parish of Orleans. City of New Or
leans. BE il known, that on this thirteenth
day of the month Of July, in the year of
our Lord. one thousand nine hundred and
twenty: Before me. Charles Schneidau.
Notary Public, duly commissioned and
qualified. in and for the Parish of Or
leans. State of Louisiana, therein residing,
and in the presence of the witnesses here
matter named and undersigned. personally
came and appeared the several persons
whose names are hereunto subscribed, who
declared that, availing themselves of the
laws of this State, relative to the OrganiZa-
tool of corporations, they have covenanted
and agreed. and do, by these presents Gov
enant, agree, bind, form and constitute
themselves, as well as such persons as may
hereafter join or become associated with
them, into a corporation and body polite
in law. for the objects and purposes and
under the agreements and stipulations fol-
lowing, to-wit:
ARTICLE 1.-The name and title of this
corporation shall be "Pi-Finne Feed Co.,
Incorporated" and under its corporate
name il shall enjoy succession for the full
term of ninety nine years from and after
the date hereof; it shall have the power
and authority to contract, sue and be
sued, and make and use n corporate seal.
the same to break and alter at pleasure
to hold, purchase, lease, sell, mortgage,
hyFothecate. or pledge property, real, per-
sonal or mixed, necessary, incidental or
proper for the carrying on of its business :;
10 D0rrOW money ana make ana issue
notes, bonds and other evidences of in
debtedness therefor, and to secure the
same by mortgage or otherwise; to hold
stock IN other corporations; TO name and
appoint such managers and directors,
officers and agents as the interest and
convenience of said corporation may re-
quire; to make and establish, as well as
alter and amend, at pleasure, such by
agement and regulation of the affairs Of
| the corporation as may be necessary,
proper or convenient.
ARTICLE 1.-THE dOmicile Of this cor
poration shall be in the City of New Or
leans, Parish of Orleans, State of Louisi-
ana. and all citations or other legal pro-
cess shall be served upon any of the
officers of the corporation.
ARTICLE 111.-The objects and pur-
poses for which this corporation is organ
lied, and the nature of the business to be
conducted by it, are hereby declared to be ::
LIST To purchase the patent rights for a
machine to dry hay and other food prod
ucts; to manufacture, sell, lease and oper-
ate, or to permit the manufacture. sale,
lease and operation of said patented ma
chimes on royalty basis, or otherwise.
md. To buy, lease, own and operate
plantations, for the purpose of growing
paille finne hay and other food products.
and to erect, own, lease and operate fac
tories to manufacture paille finne hay in
food for stock.
3rd. To hold, purchase, lease, sell. mort
gage, hypothecate or pledge property, real.
personal or mixed; to borrow money and
make and issue notes, bonds and other
evidences of Indebtedness therefor. and to
secure the same by mortgage or otherwise {;
and TO buy and sell stock and bonds.
ARTICLE Iv.-The capital stock of this
corporation shall be fixed at the sum of
two hundred and fifty thousand dollars
$3.50, OOO.OO), which shall be divided into
two classes of stock. known as preferred
stock and common stock.
of the total capital stock one hundred
and twenty-five thousand dollars ($125,-
100000 shall be classed as preferred stock.
hundred and fifty (12J0) shares of the par
value of one hundred dollars (S10O00) each,
to be paid for in cash or its equivalent in
property.
The preferred stock of this company
shall be entitled to dividends at the rate
of eight per cent $50 per annum, which
dividends shall be paid by preference and
priority over the common stock, and shall
be cumulative. The dividends upon said
preferred stock accruing in any one year,
together with all the accumulations of div
idends or parts thereof remaining unpaid
from preceding years, shall be paid in full
before any dividends whatever shall be
paid on the common stock.
After the payment of the dividends due
on the preferred stock, as above provided,
in any one year, the remainder of the net
earnings OF the company, after the Board
of Directors, in their discretion, shall have
provided for any surplus to be set aside,
shall be applied to payment of dividends
upon the common stock of this company
then outstanding, not to exceed eight per
cent (SSoD on such common stock, before
further distribution; and after eight per
cent (S%) shall have been paid on the