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

business. and TO make such bylaws. rules
and regulations as may be necessary or
found desirable for the management of
the business and affairs of this corpora
ton, and generally to do every other act
matter or thing necessary or desrabl" for
the cOmPlct" and proper carrying out OF
said business.
ARTICLE 1.-THE domicile of this cor
poratiOn shall hr in the city Of New or
leans, State of Louisiana, where all eta
tiUu> or other legal process shall bc
served upon the President. or, In his alb
>rHcc, on the Vice President. or. ia the
absence OF both, upon the Secretary.
ARTICLE ul.-Thc objects aud pur-
poses for which this corporation il or
gaHiZ"d, aud the nature of the business
10 l." carried on 10y il. are hereby de
cIIr"d 10 be. To purchase and deal in.
10y whnl"Sdl" or retail. and to mauufac-
tur" candy, nuts. cput,ctiOuN and special
tics, and generally to manufacture. pur-
CHASE, sell and deal I'm an the usual i'll
cid,ntS Of the candy business. and to do
all things incident thereto.
ARTICLE IN.-Thc capital stock ,uf
this corporation Il hereby fixed at seven
thousand tHi,OoCOu) dollars. divided into
seventy t1u shares OF the par value OF
on" hundred t$luUOOl dollars each; pro
Nided. that the amount to which the cap
ital stock Of this corporation may bc in
creased shall b" twenty five thousand
tS21u0UNl dollars Thirty eight I:iNb
shares. or thirtN-right hundred $500 OOI
dollars of the capital stock of this cor
pOration must l." subscribed before the
filing 1f the articles of incorporation Tn,
subscribed capital stock of this CORPORA
lion shall De payable in cash. prOprrty
tr"al or PERSONAL. or for labor and Scry-
ICES rendered and performed. No stock
holder shall ever Ice held liable or re
>p"n~lblr Tor the faults contracts or
debts of this corporation in any further
sum than the unpaid balanc" due the cor
r"rHton on the shares of stock sub
>"rlbCd 10y him. nor shall any mere in
toruality In organization have the effect
OF rendering this charter null or of rN-
posing amy SrOrkholder 10 any liability
whatever This corporation shall not en-
gag" In business until thirty-,igbt hun
dr"d i>iN"OOol dollars. or thirty-right taS)
shares Of the capital stock shall have
been issued and actually paid in. either
IN cash. property or services rendered g~
aforesaid. If any Of the stock of this
corporation is exchanged either in whole
or IN part for property or good will the
provisions Of Section of Act 267 of 1914
shall 10" COMPLIED with strictly.
ARTICLE N.-AlI the corporate powers
or inns corporation shall be vested i'm and
exercised 10y a Board of Directors com
posed OF four stockholders. each of whom
>hdll own IN ms own right. during his
term of office. at least one fun paid share
OF stock. three of whom shall constitute
quorum for the transaction of all husi-
ness. Tn" officers of this corporation
shall consist Of President Vice Pre,i-
dent, and a Secretary Treasurer. all OF
whom shall b" members of the BOARD
or Directors. The following named per-
sons shall constitute tn" first Board of
Directors. to-wit: T. Percy Richardson.
Ne, Ne. I"l' Ihird street. New Orleans. LII. {:
clement Il. PenrOSo. No. $50 Audubon
street. New Orleans. La: William p.
Richardson. No. 1929 Calhoun Street New
Orleans, La; Gerald 8. Kennedy. No. 1917
General P"rShing Street, New Orleans
La: with T. Percy Richardson. PreSi-
dent; William =. Richardson. Vice PreSi-
dent. and Clement Il. PenroSe. Secretary
Treasurer. and these Directors and Off
GERS shall hold office until the first Thurs
day Of March, 1921. or until their sue
c"NSorS are duly elected and qualified
Thereafter the Directors shall be elected
annually on the first Thursday of March
or each year, beginning with 1920: all
elections of Directors shall be by ballot
and each stakeholder shall be entitled TO
one vote for each share of stock standing
IN his name on the books of the CORPORA
ZION. this vote to be cast in person or bv
written proxy, and il shall require n ma
jority Of the stock present or represented
to elect.
Failure to hold an election for Directors
on the first Thursday of March, 1920, or
annually thereafter, shall not work a for
feiture of this charter. but the old Board
OF directors shall remain in office until
their successors are duly elected and
qualified.
ARTICLE VI.-The Board of Directors
snail hold regular meetings at such times
as snail be fixed in the by laws of this
corporation. These meetings shall be held
AT the dOmicile of this corporation but
the President may call special meetings Of
the Board of Directors at such times as
ne may deem advisable. and he shall be
required TO call such meetings at the re-
member n I'd nf
rectOrs. Three days written notice of
such special meetings shall be given to
the directors. unless waiver of such no.
tice is signed by the Directors Any va
cancy occurring in the Board of Directors,
either from death. resignation, or inabil-
ity to serve, shall he filled by the re-
naming Board of Directors at its next
regular meeting after such vacancy shall
have occurred. The first Board of Direc-
tors OF this corporation shall be REQUIRED
to draft suitable bylaws for the govern
ment of this corporation, which NAV he
altered. amended or changed as the ext
gencies Of the caes may require.
ARTICLE VII.-The stock of this cor
poration may be transferred, provided
such transfer shall be recorded upon the
books of the corporation before il shall
De required TO recognize the transfer or
the new holder of the stock The total
amount of the subscribed stock as here.
in set forth. is the sum of thirty eight
'SoooO.bvI uOIldTS. or tnlrtN-p1gnt
t5Sl shares. which is hereby authorized
TO be issued fully paid and non a ssessable
Tor cash, and in exchange of property or
both, according to law. In the event that
any stakeholder desires to sell his stock
or any part thereof. he shall first offer
same to the remaining stockholders in
proportion to their respective holdings at
It's book or market value. This offer is
10 be made to appear by letter written
ana addressed to each stakeholder at his
last known address, giving him thirty
DAYS option. At the expiration of which
time the stakeholder desiring to sell his
stock shall be at liberty to do so at what
ever price and TO whom he shall please
ARTICLE VIII.-Thls charter NAV be
modified or altered, the capital stock
thereof increased or decreased, or the
corporation may be dissolved with the
assent of twO-thirds of the capital stock
present or represented at any meeting of
the stockholders held for that purpose
after prior notice III writing TO each stock
holder. mailed TO him at his last known
poStoftce address. all in accordance with
the terms of Act 267 of 1914
At the expiration OF this charter or
the earlier dissolution of this cor
poration, for any cause, its affairs
shall be hquidated by one or more
iquidators 20 be elected by the stock
holders, all Of whom shall hold stock in
this corporation. and said liquidators are
hereby vested with full power and author
ity 10 liquidate the affairs of said corpor-
alton. with full power to act under the
terms of Section 30 of Act 267 of 1914.
ARTICLE IX-The nnnaararc barahv