The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-08
CHARTER.

| within any other state, territory OF PoS-
| session of the United States of America or
any foreign country and with full power
and authority to perform and execute 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
| to lend money, obtain and procure credit
for the corporation or any person llrl
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
is authorized TO draw, accept, endorse
guarantee, acquire. sell, deal i'll, hypothe-
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
sub let real estate, personal and mixed
property.
Section eight: To build, construct, hire
charter or otherwise acquire, own, estab-
li>h, maintain, hold, ledS" ana operate
factories. warehouses, agencies, depOtS
buildings. structures, accommodations, no
tells, offices, works, plants, machinery ana
all things whatsoever, of every nature
and Kind, either in the state of Louisiana
or within any other state or territory or
possession of the United States of Am
erica or foreign country or countries.
Section Nine: To buy. sell, build, con
>truct contract for hire. lease, charter
or otherwise acquire, maintain and OPP
crate steamships, steamboats,, tugs, bargeS.
sailing vessels and other vessels of every
description and designation and to OPP
crate same inland or COaStWlSe service
in the United States or between any port
or ports of the United States of America
or any foreign country or countries and
generally to carry on business of ship
building, ship repairing. drydOckinE rs
owners. operators, brokers. ChartcrerS,
manufacturers and agents and to engage
in the carriage of mail. express, baggage,
passengers, freight and merchandise of
every description for this corporation or
for any and all individuals firms cor
pOrationS and governments, either in or
on vessels owned by this corporation or
in or on vessels under charter. lease, con
tract or hire unto this corporation.
section Ten: To buy, sell. build, con.
>truct. contract for hire and lease and
otherwise acquire. maintain and operate
railroad lines necessary for the tranSpOr-
tatiOn 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 is organized; and for
| such purposes to engage in business in
the state of Louisiana and within any
.
, the United States of America or foreign
T country that will permit the same.
: ARTICLE IV.-This corporation shall
have all the rights and privileges granted
4 by law to such corporations and shall
I 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 or
2 pledge property, both real. personal and
. mixed: TO issue bonds, notes and other
l obligations; to have, engage and employ
such officers, managers and employees
as the business may require: to fix their
compensation; to make. adopt and estab-
: liSh such bylaws, rules and regulations
: in the corporate name. not repugnant to
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 in
I which il shall engage in business for the
! mana cement of the corporations affairs.
as the stockholders and board of direc-
\ tors may deem necessary and eXpedient.
4 ARTICLE V.-The authorized capital
: stock of this corporation shall be one
l hundred thousand and 00-10O ($l00,0O0.O0)
. dollars nad represented by one thousand
e hundred and 00-1O0 (S1OO.OO) dollars each.
Which capital stock may be increased to
the sum one million dollars (S1,OOO,O00) in
= the manner prescribed by law.
Said authorized capital stock shall con-
sist of two 90 different classes. one there
of to be known and designated as pre-
ferred stock and the other common
stock.
Z Section one: The amount OF the pre-
: ferred stock is determined and fixed at
: fifty thousand dollars (S5O,0OOO0) divided
T into and represented by five hundred
= (500) shares of the par value of one hun
: dred dollars ($l0O.G0) each, which said
= stock shall be entitled to receive, when
and as declared. from the surplus or net
profits Of this corporation. a yearly divi-
dend of ten per cent QO96) payable an
nually in such installments as the board
of directors may declare.
The said dividend shall be cumulative
from and after March /. 1920 and shall be
payable before any dividend on the COM
= mon stock shall be paid or set apart.
Z Should the net profits or surplus in
any year be insufficient to pay any OF
said preferred dividends, either in whole
or in part. any unpaid portion thereof
+ shall be charged against the net profits
" Of the corporation and shall be paid in
e full out Of said net profits or surplus
e before any dividends are paid or sci
l. aside for the common stock.
e The said preferred shares or such
e amount may be then outstanding shall
J. in the event of dissolution or liQuida
y ton or distribution of the assets of th'
n corporation be paid in full up to theil
r par value plus accrued and unpaid divi
3 dends at the rate of ten per cent 10G6l
d per annum before any amount shall b'
IS owners of the common stock and SAID
y preferred shares shall not then thereaf
lie 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
y fifty thousand dollars SOCIOLOGY divided
u into and represented by five hundred 600
~ shares of the par value of one hundred
l. dollars (Sl00O0) each and said stock shall
y bezentitled to receive out of the net prof
y itS such dividends as the board of direc
% tors may declare from time to time, ex
+ cept that no dividend shall be declared o.
l, paid on common stock until accrued divi
u dends on the outstanding preferred stool
u has been declared and paid.
In the event OF any liquidation or dis
solution or distribution of the assets o
u this corporation, the common stock shall
/ share in the assets of this corporation
!! after and only when said preferred shares
or such amount as may be then outstand
'r ing shall have been paid in full. pa
le value, plus accrued and unpaid dividends
J. Section three: Said stock shall be paiC
for in cash when subscribed for or sam,
r may be issued for property actually re
r ceived or services rendered unto sale
rs corporation, but said stock shall not b.
ID issued for less than par.
IN No share or shares of the capital stool
y of this corporation shall be sold or other
,r wise disposed of by any of the stock
" holders, unless the said share or share
shall have been offered first to this cor
r. pOratiOn in writing by addressing tn