The herald., 1920-08-05
THE HERALD, NEW ORLEANS, LOUISIANA.
CHARTER.

~, before me. Charles Eoscn. a Notary
| Public, duly commissioned and qualified
| in and for the Parish Of Orleans, therein
| Residing, and in the presence of the nm
| dcrslgnrd witnesses. personally came and
/ appeared Richard VI. Murphy President.
and John J. Shrehan, Secretary. of the
! Louisiana Sugar and Rice Exchange, a
! corporation organized under the laws Of
| this state. by act before Nicholas J.. TriSt.
! 4 Notary Public. on the sixth day OF
/ March, 1855 recorded i'm Mortgage office
! in this parish. in Book 22j. Folio 80. aud
amended by Act before the same Notary
on January 18th. 1850. recorded i'm Mort
gage office ia Book - Folio as. who Dc
! rlarcd that at meeting of "a" >turkh0ld-
crs OF said corporation held on June 18th.
| 1920. after fifteen 40 days notice. dated
June lOjh. 1920. published ia the New Or-
leans Times ii'aEuur and III" Daily States.
two daily newspapers published in the
City of New ORLEANS. State of Louisiana,
at which were present or represented one
! hundred and >rEcuty-two GI2D shares ct
:hr capital stock of said corporation. Ar
tiCle -Four OF the Act of Incorporation WIS
amended by q vote of one hundred and
fifty GIlb shares i'm favor thereof ~
against twcuty-oHc CD shares against the
adoption thereof, 80 as to read as follows,
to- wit.
ARTICLE IV.-Thc capital stock Of said
Association shall be- one hundred thousand
dollars. divided into eight hundred share,
of one hundred and twenty five dollars
each. which shares shall be- paid for. in
full or in inStallmrutS. for cash. as called
for by the Board of Directors who may
from time To time, fix the price nj which
shares Of stock belonging 10 the ASNOciu-
ton shall be sold. which price shall in no
case he less than one hundred and twenty
live dollars per share In case payments
for stock shall he called for In install
mcnts. any subscriber to the capital stock
who shall fail to pay such iHStalmcntS
within thirty 900 days after the date
fixed for such payment shall forfeit all In
ItFRN.Eu = Fh.F.HH
put in default resrrVing to the Board Of
Directors the right 20 enforce collection
of the same by legal process. MI c"rtifi-
Gates of stock shall be signed by the prpSi-
dent and Secretary, except that the Board
of Directors may deSignat" other duly
elected Officers TO perform this duty in
event of inability Of the President. or Sec
rotary, to act Holders of certificates of
stock of the par value Of two hundred
fifty dollars, issued prior 10 the adoption
of this article. shall be- entitled To eN-
change such certificates for new certift-
Gates of the par value of one hundred
twenty five dollars on the basis of two of
the new shares for each Oh" of the Old
shares upon surrender Of such certificates.
Appearers further declared that nj said
meeting Article Five Of the Act of lncOr-
pOratiOn was amended by n vote 81 one
hundred and forty-five (l45D shares in
favor thereof with none against. aud TWEEN
ty-One (2D shares not voting, so to
read as follows. tO-wit.
ARTICLE V.-Every member of this As
SOciatiOn shall be required to be the holder
of at least one share of the capital stock
of said Association in his. or its, own
name but after the date of the adoption
of this article. no shares owned by the
Association shall he issued To any one
person. or association of persons doing
business as a partnership or corporation,
except for membership purposes.
Appearprs further declare that Article
Seven of the Act of Incorporation was
by vote of one hundred and
forty-fiye NiiD shares in favor thereof, /
with none against and twenty-one CD /
shares not voting. so rs to read as follows, |
tO-wit:
ARTICLE YII.-All the powers of this !
Association are vested in. and shall be- PX- |
ercsed by Board of Directors. composed |
of President and sixteen members. The |
President and eight Directors shall be- |
elected annually on the first Monday of |
November each year. or as soon thereafter |
as possible. in the rooms Of the ASSOcia- !
ton, between the hours of 10 \. NJ. and /
. Z. VI. The President shall hold office J
for "A term of one year and the Directors Z
for a term of two years. The seven direc- |
tors elected in November. 1919. together |
with another to he selected by the Board !
of Directors. shall hold office until No |
vember. 1921. The Board of Directors |
shall also select an additional director to |
bring the number of those elected in No /
vember. 1915 up to eight, all of whose |
terms shall expire in November. 1920 Each !
member shall be entitled to one vote. in |
person. or by special power of attorney, |
by ballot. and majority of the votes so |
east shall elect. The Board of Directors !
thus elected shall enter upon the duties !
of their office on the first Wednesday fol |
lowing their election. and shall have entire |
control and management of the affairs of |
the Association. with power to rent. or |
lease. and fit up such rooms as may be |
required for the purposes of the Exchange. |
and to appoint Secretary, and such
salaries as they may deem necessary. The |
said Board shall have authority TO fill all !
in its numbers from among
members of the Exchange for uneXpired
terms and is hereby vested with full
power TO frame and adopt such rules and
regulations as il may deem requisite and
for the Association, and the
same do not conflict with the Constitution
and Laws Of the United States and this
state. or with its Charter; they shall also
have the power to make contracts leases.
mortgages and compromises. to borrow
money and issue bonds, buy and sell real
estate and do all and singular such acts
rs may be necessary to carry on the bust
ness and further the objects of said Asso-
,iation. The Board may also prescribe
-ules and regulations for the admission of
Iisiting members.
Appearers were authorized and in
,tructed to take such legal steps as may
De necessary to formally comply with the
aw and to make an authentic act of said
Accordingly appearers here
~ appear before me. Notary Public for
md in behalf of said LOUISIANA SUGAR
MD RICE EXCHANGE, and declare that
he Act of Incorporation thereof has been ,
by the stockholders. AS shown ,
hove by more than three-quarters tl4) OF ,
he stock present or represented at said !
Meeting. having voted in favor of all of
aid amendments.
Appearers annex hereto a certified copy $
( the Minutes of said meeting and of said
pecial notice. which they hereby declare I
vas given to all of the Stockholders, GER {
flied by the Secretary of Said Corporation /
nder the seal of the Corporation. I
Thus done and passed in my office, on
he day. month and year herein first above $
Tritten, in the presence of Edmund Cabiro 7
nd Emile a. Rainold, competent witnesses.
esiding in this city, who have hereunto ,
igned their names with the said appearerS. I
nd me, Notary, after due reading of the !
rhOle. - | =
.OUISIANA SUGAR & RICE EXCHANGE, !
BY II. NJ. MURPHY, President. .
JOHN j. SHEEHAN, Secretary. !
Witnesses: :
f. Cabiro, Emile A. RainOld.
(SeaD CHARLES ROSEN.
Notary Public.
/. the undersigned Recorder of Mort