The herald., 1920-04-29
CHARTER OF RUSSELL SUGAR COM
PANY. INCORPORATED.

United States Of America. State of Lou
i>iIna. Parish of Orleans City of New Or
leans. Be il known, That on this first
day OF the month of April. in the year of
our Lord. one thousand nine hundred and
twenty, before me. BERNARD Titchp. u No
tary Public in and for the Parish of Or
leans State OF Louisiana. duly commits
stoned and qualified. and in the presence
of the witnesses hereinafter named and
undersigned. personally came and appear
ed tn" several persons whose names are
hrrennto subscribed who seVerally de
rlarcd that awaiting themselves of the
laws of the State of Louisiana. relative to
the organization of corporations. they have
covenanted and agreed and bind them
selves. as well aS such other persons who
may hereinafter become associated with
them. or their Successors. to form and con
Stitute Il corporation and body polite in
law. for the objects and purposes and un-
der the agreements and stipulatiOnS fol
lowing. tO-wit:
this corporation shall be- Russell Sugar
Company. Incorporated. and under that
corporate name IL shall have and enjoy all
the rights and privileges granted by law
to corporations: IL shall exist for n period
of ninety nine (99) years from the date
hereof
ARTICLE 1.-THE domicile of said cor
pOratiOn shall he the City of New Orleans.
all citations and other legal process shall
be. served upon the President of the said
corporation. and. in the case Of his alb
Spnce upon the Vice President, and in the
case Of the absence of both of these Off
GERS. upon the Secretary Thereof.
ARTICLE III.-Thc objects and pur-
poses for which this corporation is estab-
li>hcd. and the nature of the business to
be carried on by il. are hereby declared
TO he. to carry on general commission
business. and to buy. sell and deal in
goods. wares. food commodities and pro
ducts of every sort. kind or description.
as commission merchants aud brokers
and as buyers. sellers and dealers; TO buy.
sell and lease plants. tank ears. tank
bargcS. tank vessels: to erect storage and
canning plants. and any and all appurten-
anccS necessary for carrying out the oh
iects and purposes of the company: to
have branches at any points necessary.
either i'm the United States or elsewhere
for the successful operation of said bust
ness.
ARTICLE Iv.-The capital stock of this
corporation is hereby fixed at the sum of
one hundred thousand dollars $500. 900 0O)
divided into one thousand $1,000 shares of
the par value of one hundred dollars
(S1O0O0) each. each share to be paid for
in such manner as the Board of Directors
may determine. The amount of the cap
ital stock may he increased to two hun
dred thousand dollars $500. 900 O0). and
the said corporation shall be authorized
to begin business. and shall be a going
concern when fifty per cent of its capital
stock shall have been subscribed. and
fifty per cent of all stock subscribed for
shall have been paid in. All sales and
other transfers of any of the stock of this
corporation shall be void unless said stock
shall have been previously offered to the
then existing stockholders. through the
Board of Directors. at a stipulated price.
and il the Board. for the said stockhOld-
ers does not see fit to purchase said stock
then il shall not be sold at less price
or upon more favorable terms without
likewise offering ii to the Board at such
price and upon said terms. In case of
sale or transfer of stock. or the issue of
increased capital stock. the then holders
of stock Of the company shall have the
right to purchase said stock in the ratio
of their holdings of stock of the company
No sale or transfer of stock shall be bind
ing upon the corporation unless made
upon its books, and said transfer shall be
made only upon surrender or proof of
loss or destruction of the outstanding GER
ARTICLE VAN the corporate powers
and authority of this corporation shall he
vested in, and the management and CON
n BOARD of Directors. composed of three
to be elected annually ny
ballot at general meeting of the stock
holders on the second day of the month of
July in each year. No failure to elect
Directors shall be regarded as a forfeiture
of this charter. Any vacancy occurring
on the said Board shall be filled by the
remaining Directors for the uneXpired
term. Said Board of Directors shall at
the first meeting after its election. elect
of its number President. a Vice Presi-
dent. Secretary and a Treasurer. both of
which last two officers may be combined
in one person.
ARTICLE Vino stakeholder shall ever
be held liable for the contracts or faults