The herald. [volume] (New Orleans, La.) 1905-1953, 1920-05-13
CHARTER
CHARTER OF WELLS & GUSTAFsON.

isiana, Parish of Orleans. city of New
Orleans. BE il known. thar on this thu
fIrSt day of the month of May, in the yea
nineteen hundred and twenty. Q92O). be
fore me, Aahel Walker Cooper. a NOtar!
Public, duly commissioned and qualified
IN aud for the Parish of Orleans, STATE
of Louisiana. aforesaid, and in the pres
rnce of the witnesses hereinafter named
and undersigned. personally came and ap
pearpd the several persons whose names
are hereuntO subscribed who severally de
"lared that Hyailing themselves of tn,
laws Of the State of Louisiana, relating Ia
Corporations, and especially act 261 OF
1914, they have cOvenanted and agreed "a
bind form and constitute themselves, and
do hereby bind, form and constitute them
selves a. well as all such other persons
~ may hereafter join or become aSsO-
Ciated with them. into n corporation ana
body polite in law. for the objects aud
purposes and under the StipuIajiun> fol
lowing, to-wit:
ARTICLE THE name aud style of this
corporation shall be Wells n GuStafSun.
Inc. aud 10y said corporate name il shah
have and enjoy succession for q period Of
ninety nine years unless sooner dissolved
in the manner provided by law and by tn"
articles of this charter, aud under such
corporate name, il shall have power and
authority to contract, 81" ana u" sued
To make and uS, "a corporate seal. and the
same 10 break or alter at pleasure; 10
hold receive purchase. convey. mortgage
and hypOth"CIt" property, real perSOnai
and mixed, to issue bonds, notes. and
other obligations, TO elect and appoint
such managers. Officers, directors, agents
aud other employees aS the Interest and
convenience of the corporation may re-
quire or demand. and make and establish
such bylaws, rules and regulations for
the corporate management and control OF
its bushes sand affairs as may be deem |
ed necessary aud cNpcdent; to sell. as !
sign. transfer. mortgage. pledge, or other /
wise DISPOSE of bonds or other securities |
ar .lurps a. sHDitHl stock other ]
corporation or corporations whether for
pigu or domestic, and To own stock in any
other corporation or corporations. aud 10
vote the same.
ARTICLE II-Thc domicile of said cor
pOratiOn shall be- in tn" City Of New or
teams. State of Louisiana. but il may eS-
tahlish offices and agencies and conduct
business in any other State. territory or
dependency of the United States or in
foreign countries All citations or other
legal process shall ne served upon the
President or in his absence, upon III"
Vice President and in the absence of both.
then said process shall be served upon the
Secretary and Treasurer.
ARTICLE III.-Thp objects and pur-
poses for which this corporation is orga-
nized and the nature of the business TO he
carried on by it are hereby declared 10
be:
To DO a general brokerage. com
mission forwarding aud export business I
to buy. sell and deal in, as brokers or
agents all kinds of commodities and Sc .
curitieS dealt in upon any commercial :
exchange, board Of trade, or stock eN- .
change, and to buy, sell and deal in OF =
commission. all kinds of listed and un-
listed stocks. bonds and securities; and
generally to do and perform such other
business is or may be necessary for :
the furtherance of any of the above named
oh ieCts or which may be incidental or -
germane thereto or in any wise connected a
"
ARTICLE IV.-The capital stock of this !,
shall be One Hundred Thou n
sand $500 OOO.OO) Dollars 10 be divided
into one thousand 10000 shares of the par :,
value of One Hundred (S1O.0O) Dollars
zach. which shall be payable in cash. or =,
may he issued at not less than par in "
payment of labor % services actually =
or of property actually received f.
~ the corporation. 90
This corporation shall become going Oh
Oncern as soon rs fifty (5OcC) percent of ii
he amount of its capital stock has been II,
absorbed for and fifty l5OCo) percent of th
aid amount subscribed shall have no
zen paid in. The amount to which the FRI
apital stock Of this corporation may be
increased is hereby fixed at One Million :,
81 900. 100000 Dollars. No transfer of -!
took shall he binding upon the corpora ~
on unless made and recorded upon its on
OOkS pf
ARTICLE V.-AlI the powers of this 20,
DrpOratiOu shall be vested In and the Pr
Management and control of Its business ar,
nd affairs shall be exercised by Board | ba
Directors to he composed of not less ~"
ian five. nor more than seven, SharehOld- f.,
rs; and II majority present in person
hall constitute a quorum for the trans
.tion of all business. Any one of said vi
IrectOrs may attend any meeting of said an
GARD of Directors by written proxy ad- III,
ressed to any other one of the directors. o
no by virtue of said written proxy, u!
lall be fully authorized to represent said on
dfrpctOr and all NJ
Ons submitted to said directors meeting q
his name as fully and with the same no
llidity as If the said absent director ca,
ere present and voting in person. Any ua
ne of said directors may further consti- De
tie any other one of said directors his no
proxy upon whom notice of ali IaS
rectors' meetings may be served. Wv Wv
A majority of the Board of Directors co,
,ting at any time in person or by writ of
N proxy, shall be required to pass any no
adopt any bylaws which, as
hen passed. or adopted, shall become th,
lid corporation acts. The first Board ~
Directors shall serve until the election am
be held on the first Tuesday In May, col
~. and on the same date and month in no
ch succeeding year. except when that re,
~ falls upon a legal holiday. then upon afr
e next following lay day, after fifteen To
iys written notice mailed to each share an,
older at his last known address, as the mr.,
me shall appear on the books of the cor ser
,ration. and unless such notice be waived an
, WHITING Dy all OF the SnarenOluerS APP
.aring as such upon the books. \ fail
p, however. from any cause TO hold the ~,
lnual meeting of stockholders. or fail IhI
Y to elect directors thereat, shall nor "a
,erate the forfeiture of this charter nor Ne
lpair the corporate management, but the "
rectorS then In office, sail serve until ~
cir successors have been duly elected M
ID qualified and installed. any vacancy VT
the board of directors shall he filled 81
the remaining directors from among Ne
g stockholders. ny
The officers of this corporation shah tar
cretary and Treasurer. Said Board of In
rectors shall have the right and power An,
appoint aud dismiss suca agents, -
,rks and other employees conditions
their Judgment may justify, or the bust \
SIS of the corporation may require and OF
2 tenure of office and employment of rec'
such agents, clerks and other employees llou
directors. 1914
ARTICLE NI.-The first board of direc- tha
: with their Post Office addresses and HI
10 shall serve until the first Tuesday il 60
", 1921. shall consist of: Charles w. a.
Ills, 1908 Valmont Street, New Orleans -,
e; c. T.. Gustafson. Falls Building. -
mphis, Tenn: Frank G. Brown. 1888 ,,...
tavia Street. New Orleans. La: Charles 81
Fenner. 5000 Dryades Street. New Or ~
ms, La. Alpheus G. Beane. 1888 Valence -
-. w xEi1 - ~" .he S"iu furtI
+. Gustafson as Vice President and the 'he
Frank G. Brown as Secretary and ni%a,
sasurer. MA MA
IRTICLE VII.-This act of incorpOra- any