The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-01
CHARTER.

within any other state territory or pos
session of the United States of America or
any foreign country and with fuH power
and authority to perform and eNecut" any
and all acts connected with or arising
therefrom or incidental thereto.
Section Six: To carry on and under
take any business, undertaking. or opera
! ton commonly carried on or undertaken
| by merchants commission men, factors.
| importers, exporters, manufacturers ana
/ agents and in the course OF such business
| 10 lend money, obtain aud procure credit
! for the corporation or any person, llrn
/ or corporation with whom this corporation
/ shall or may enter into or do business
/ with and in the course Of said business
! undertaking or operation this corporation
/ j, authorized to draw, accept, endorse,
! guarantee. acquire. sell deal in. hypOth"-
cate. pledge and dispose of any and all
/ negotiable and transferable documents ana
/ securities OF every nature and Kind.
Section seven: TO buy, sell. lease and
! Nuh-lrt real estate" personal and mixed
/ property.
! Section eight: To build. construct. hire
! charter or OthcTwiS" acquire, own, cstah-
| li>h. maintain. hold, lease and operate
! - tories, Warehouses, agencies. d"pOtN,
buildings. structures. accommodations, no
! trI~. offices. works. plants. machinery and
all things whatsoever, of every nature
| and kind. either in the state of Louisiana
! or within any other state or t'rrHorN or
! possession of III" United States of Am
]
! Section Nine: To buy. sell. build. con
>truct. contract for, hire. lease, charter
| or othrrwiS" acquire, maintain and op-
| crate steamships, steamboats,, tugs. barS"S
| sailing vessels and other vessels Of every
! description and designation and TO OPP
| crate same inland or cOaNtwisc service
! in the United States or between any port
| or ports Of the United States of America
| or any foreign country or countries aud
! generally to carry on business of ship
/ Luil1in.r shin rRuliFIu.r IrNlUrIluW
owners. operators, brokers. chIrt"rcr>.
manufacturers and agents and To engaS"
in the carriage Of mail. express. baggage.
pl~~rnEcrS. freight and merchandise Of
every description for this corporation or
for any and all individuals. firms. cor
poratinHS ana governments. either in or
| on vessels owned by this corporation or
i'm or on vessels under charter. lease con.
tract or hire unit" this corporation.
Section Ten: To buy. sell. build. con
! >trUrt contract for. hire and lease and
otherwise acquire. maintain and operate
railroad lines necessary for the trauSpOr-
tatiOu and conveyance of goods, cOmmO-
diti"S and merchandise. either in the
state of Louisiana or other states. terri
tories or possessions of the United States
of America or in foreign countries.
Section Eleven: And to do all things
necessary and incidental To the carrying
> out of the objects and purposes for which
this corporation j. organized; and for
| such purposes Ia engage in business in
/ the state of Louisiana and within any
other stat" or territory or possession OF
: the United States of America or foreign
country that will permit the same.
ARTICLE IV.-ThS corporation shall
= have all the rights and privileges granted
III by law tn such corporations and shall
have power To contract. sue and be sued
| in its corporate name. to make and use
a corporate seal. the same to break and
I alter mt its pleasure; to buy. sell. own
hold. lease. receive. convey, mortgage ol
. pledge property, both real. personal and
a mixed: to issue bonds. notes and Other
\ obligations, to have, engage and employ
: such Officers managers and employees
as the business may require; TO fix theii
compensation: to make. adopt and cStab
: liSh such bylaws. rules and regulations
; in the corporate name. not repuGnant Il
the charter of this corporation or the laws
of the state of Louisiana or other states
territories or possessions of the United
States of America or foreign country IL
t which il shall engage in business, for tn,
! management of tn" corporations affairs
a. the stockholders and board Of direc
\ tors may deem necessary and eNpedient
1 ARTICLE V.-The authorized capita
. stock of this corporation shall be on,
1 hundred thousand and O0-100 (Sl00.OOO.OO
. dollars represented by one Thousand
2 0.W) shares of the par value of on,
e hundred and O0-1O0 (Sl00O0) dollars each
Which capital stock may he increased {,
the sum one million dollars ($1,O00.0OO) il
To- the manner prescribed by law.
Said authorized capital stock shall con
SiSt of two 81 different classes one there
of to be known and designated as pre-
ferred stock and the other as common
stock.
= Section one The amount or the pre-
:. ferred stock is determined and fixed Il
= fifty thousand dollars ($JO,0O0.OOl divided
f into and represented by five hundred
Y l'oOl shares of the par value of one hun
: dred dollars (SlO0g0D each. which sai'
- stock shall be entitled to receive whel
and as declared. from the surplus or ne
profits Of this corporation. yearly divi
dend of ten per cent QOfc) payable an
nualy in such inStallments as the boar,
of directors may declare.
The said dividend shall ne cumulative
| from and after March l. 1920 and shall b.
payable before any dividend on the com
= mon stock shall be paid or set apart.
{ Should the net profits or surplus il
any year be insufficient To pay any o
said preferred dividends. either in Who'll
or in part any unpaid portion thereO
i shall he charged against the net profit
" of the corporation and shall be paid i
e full out of said net profits or surplu
e before any dividends are paid or sc
l. aside for the common stock
e The said preferred shares or sue
e amount as may be then outstanding shall
/ in the event of dissolution or liquida
y ton or distribution of the assets of TIA
n corporation he paid in fun up to thei
r par value plus accrued and unpaid divi
= dends at the rate of ten per cent C10CC
q per annum before any amount shall b
d distributed among or participated in b
IS owners of the common stock and sal
y preferred shares shall not then thereat
le ter participate further in the diStribu
N ton of assets of this corporation.
Section two: The amount of the com
i mon stock is determined and fixed a
!, fifty thousand dollars ($50,OOO.O0) divide
II into and represented by five hundred 600
. shares of the par value of one hundre
dollars (S100OO) each and said stock sha
{! he entitled to receive ont of the net prot
y it's such dividends as the board of direC
"a tors may declare from time to time, eN
Il cept that no dividend shall be declared o
l, paid on common stock until accrued div
q dendS on the outstanding preferred stOc
u has been declared and paid.
In the event or any liquidation or dis
solution or distribution of the assets q
d this corporation, the common stock sha
! | share in the assets of this corporation
y after and only when said preferred share
or such amount as may be then outstaHt
II ing shall have been paid in full, pa
u value, plus accrued and unpaid dividend
Section three: Said stock shall be PAL
for in cash when subscribed for or sam
r may be issued for property actually RI
r ceived or services rendered unto sal
Is corporation, but said stock shall not B
ID issued for less than par.
IN No share or shares of the capital stoc
!! of this corporation shall be sold or Other
- wise disposed of by any of the stOcl
y holders, unless the said share or share