The herald., 1920-11-04
CHARTER.

may be prescribed by the bylaws, and
who may be employed and removed at the
gated such authority by the bylaws.
The names and addresses of the first
Board Of Directors are as follows:
Peter NJ. Joachim, 1915 Josephine Street,
New Orleans, La; Sid II. Hasam. 1919
Peters Avenue, New Orleans, La, and J.
Walter Michel, 1915 Josephine Street, New
Orleans, La. The said Peter NJ. Joachim
shan be the President the said Sid II.
Hasam shall be the Vice President, and the
said j. Walter Michel shall be the Secre-
tary- Treasurer of the Board of Directors.
ARTICLE VIII.-Every subscriber 10 the
capital stock of this corporation, though
not holder, shall be personally liable to
the creditors of the corporation to an
amount equal to the unpaid balance on the
stock for which he has subscribed. Trans
ferees shall not be liable unless il be shown
that the stock was acquired with knowl-
edge OF the conditions which would make
the subscriber liable; where both sub
scriber and transferee are liable, the habil-
ity shall be in solido, and the liability
shall continue as to both after any dis
poSal Of the stock. No stakeholder ever
shall be liable or responsible for the CON
tracts or faults OF this corporation in any
further sum than is above provided, nor
shall any mere informally in organization
nave the effect of rendering this charter
null or of exposing a stakeholder TO any
liability other than as above provided.
ARTICLE XI.-This corporation may be
dissolved with the assent of the stock
holders owning two-thirds of the issued
capital stock of the corporation at a meet
ing convened for that purpose after notice
OF such meeting shall have been given to
each stakeholder in accordance with law.
In the event of the dissolution OF this cor
pOration, the business and affairs of m.
corporation shall be settled by three liqui-
datOrs to be elected by the stockholders
from among their number at the meeting
which decides to liQuidate. The cOmpen-
Sation of the said Hquidators shall be
liked At the meeting at which they are
elected. Said liquidatOrs shall have full
power and authority TO settle the entire
business and affairS of the corporation. In
the event of the death or inability of any
of said liquidatorS, the survivor or sur
viYOrs shall appoint a successor or sue
cessors TO him or them from among the
stockholders.
The subscribers hereto have given Op-
pOSlte their respective names the amount
of stock hereto subscribed by them, 50 tins
this act Of incorporation may also serve
as the original subscription list of this
corporation.
In part payment of their respective sub
Scriptions of thirty and forty shares OF
the capital stock of this company, Joseph
W. Michel and Peter NJ. Joachim hereby
transfer to the company their and each OF
their interest in and to the assets OF the
Columbia Box Factory. subject 10 an as
sumption by the company of the liabilities
of the said Columbia Box Factory; which
said assets and liabilities are shown and
described and which said assets and in
terests therein of the said Michel and
Joachim, are appraised by the Board OF
Directors of this company as follows, to
wit:
Balance sheet Of Columbia Box Factory
SeDtpmbpr Doth 1920