The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-25
CHARTER OF NEW ORLEANS DRUG
CO, INC.

W. A-NNs
State OF Louisiana, Parish Of Orleans
City of New Orleans. BE it known, That
on this thirteenth day of October. in the
year of our Lord, nineteen hundred and
twenty, and of the Independence of the
dred and fOrty-fourth. before me, Warren
V. Miller, Notary Public. In and for the
Parish of Orleans, Louisiana, and in the
presence of the witnesses hereinafter
named and undersigned, personally came
and appeared. the several persons whose
names are hereinafter subscribed, all OF
full age, who declared unto me, Notary
that, availing themselves Of the laws OF
the State of Louisiana, relative to the or
ganization of corporations they do by
these presents. contract, agree. covenant
stipulate and bind themselves. as well as
such persons as may hereafter become as.
ISOLATED with them, to form and cOnsti-
tute a corporation and body polite in
law, for the objects and purposes and I'M
der the stipulations hereinafter set forth.
tO-wit:
ARTICLE 1.-The name and title of
this corporation shall be New Orleans
Drug Co. Inc, and under such title 1t
shall have and enjoy succession and ex-
istence for a period OF ninety nine years
from date hereof; 1t shall have the power
and authority to contract, sue and be
sued; TO make and use a corporate seal,
the same to break and alter at its pleas
ure; TO hold, purchase. lease, sell, mort
gage or hypOthecate, or pledge property,
real, personal or mixed. and for the pur-
pose Of carrying on list business, to make
and issue notes and other evidences of in
debtedness; TO name and appoint mana
gers, clerks or other employees, for the
proper conduct of its business, and to dis
charge same at its pleasure; to make and
establish such bylaws, rules and regula-
tions. as may be found necessary and de-
sirable for the management of the affairs
OF the corporation, and generally to do
all and everything, act or deed, for the
complete and proper conduct of said bus
mess.
ARTICLE 1.-THE domicile Of this cor
poration shall be in the City of New Or
leans, State Of Louisiana, where all cita-
tons and other legal process shall be
sence Of the President, upon the Secre-
tary.
ARTICLE III.-The capital stock of
this corporation Is hereby fixed at the
sum Of fifteen thousand dollars and is di.
yided into ten thousand dollars of COM
mon stock, represented by one hundred
shares of the par value Of one hundred
dollars each, and five thousand dollars of
preferred stock represented by fifty shares
OF the par value of one hundred dollars
each; each OF which classes Of stock may
be increased up to five hundred thousand
dollars; each of the classes of stock shall
be OF the par value of one hundred dol.
lars each; the common stock shall be en-
titled to vote in all of the affairs of the
corporation, and may be paid for by
money, property. good will. or services
actually rendered to the corporation all
as shall be determined by the Board of
Directors; the preferred stock shall bear
interest at the rate of seven per Get per
annum, and such interest shall be payable
before and In preference to any dividends
on common stock. and said stock NAV be
redeemed at not less than par out of net
profits earned surplus at such times
may be agreed upon by the Board of Di.
rectors; said preferred stock shall also
nave preference over the common stock
on all OF the assets of this corporation /;
sald preferred stock shall have no yot.
ing power and shall be paid for in cash.
services, or good will, at such times and
IN such amounts as may be determined nv
the Board of Directors.
ARTICLE Iv.-The objects and purposes
Tor which this corporation is formed are
declared to be as follows: To manufac.
ture and deal in drugs, chemicals and
druggists sundries and supplies and all
articles and drugs sold or handled by
drug stores, including fixtures, soda
FOUNTAINS, paper, twines and everything
used In connection with the drug bust.
ness, and such other merchandise as
would be found advisable to be handled
and sold; and to buy and sell any of the
soose articles In wholesale or retail guam
titles; to lease or buy buildings for cash
or on terms Of credit and to operate one
or more places in the City of New Or
leans or elsewhere; to build or acquire
buildings and the rights, property, or
stock Of other concerns, and generally TO
sell or deal in any articles or goods ger
name to or connected with any of the
above mentioned business
ARTICLE VAN shares Of common
stock of this corporation shall be first
offered in writing to the Directors OF this
corporation for period of thirty days
at the book value thereof before same can
De sold; the said restriction shall apply
tne preferred stock with the excep-
sIon that the preferred stock shall be Of
fered at par.
ARTICLE VI.-The corporate powers OF
ms corporation shall be vested In a Board
SL directors composed of three or more
whom shall constitute a quorum for the
InI,ansactisn OF all business. The absent
directors may vote at any meeting of the
rontS by proxy. to any other Di-
rector Tor that particular meeting The
first Board of Directors shall consist OF.
w. n. Rates, 1926 Camp street; Jules VOL
Drette. 1132 Lowerline street: A. Hirscb
WITT; 2Il5 Milan street, with W. r. Yates
as PRESIDENT, Jules wolbrette as Score
tary, and Jules wolbrette as Treasurer
and such Directors and officers shall
serve as such until the first Monday Of
November. 1921. and until such further
time as their successors are duiy elected
ana quahned; the Directors shall be
mon stock at yearly meeting on
the first Monday Of November. start.
Ing with November. 1921; the Board OF
Directors shall have the right to elect
without referring to a stockholders meet
ing any stakeholder as a Director w5en.
ever any vacancy shall exist on the Board
or Directors through death or resignation
meeting Of the Board Of Directors NAV be
called at any time by the President. and
SHAH be held at such other times as NAV
be agreed upon in the bylaws.
thus done and signed, on the day and
iate nrst herein above written, in the City
" New Orleans. in the presence Of Nathan