The herald. [volume] (New Orleans, La.) 1905-1953, 1920-02-05
CHARTER.
..pTER OF LONGO sTEvEDORING
COMPANY, INC.

" aur Lord, one thousand, nine hundred
Oh nineteen; before me, George Janyier
anu .tary public duly commissioned and
.sIi6ed in and for the State and Parish
qsara.sid and in the presence OF the wit
sssas herein after named and under
signed, personally came and appeared the
Ss,ssus whose names are hereunto sub
P.ihed all above the age of majority who
.arsIiy declare that, availing themselves
- the provisions of the laws of the State
~ Louisiana relative to the organization
" corporations, they do hereby associate
nd ioin themselves into and constitute
corporation for the objects and purposes
ana under the stipulatiOns hereinafter set
forth.
ARTICLE 1.-The name and title of this
pany. Inc.
ARTICLE 1.-THE domicle of the cor
corporation is Longo Steyedoring Com
marathon is the City of New Orleans and
Il shall exist and enjoy corporate success
ion under its corporate name for a period
AZ ninety nine years from and after the
date hereof. ii shall have the power 10
sue and TO be sued, to make and to use
= corporate seal and the same to alter and
break at pleasure, to hold, receive, lease.
purchase and convey, as well as mortgage
and hypothecate property, real, personal
and mixed corporal and incorporeal. IN
name and appoint such managers agents
directors aud officers its business in
forests may require, and to make and es-
tablish. as well as alter and amend from
time to time, such bylaws, rules and
regulations for the proper government OF
the affairs Of the corporation as NAV be
necessary and proper. All citation or
other legal process shall be served accord
ing to law.
ARTICLE III.-The objects and pur-
noses for which this corporation is or
eanized and established and the nature OF
the business to be carried on by it are
hereby declared to be: To engage in a
General stevedoring business; to load and
unload ships, steamships, freight cars and
other vehicles Of transportation either I'M
aer contract or otherwise; to move and
transport freight or such articles as may
no rendered It for transportation: to do
sneh necessary storage as may be in
cideutaI to or required by Its business and
Generally to do and perform all things
esrt;nent and incident to and which NAV
~ nroper and necessary to carry out and
...cr,e the objects and purposes for
rh,ch this CORPORATION is organized.
ARTICLE Iy-The capital stock of this
..rnoration is hereby fixed at the sum of
twesty-fve thousand dollars N25,OO0OO),
divided into and represented by two hun
Sred and fifty t250) shares OF the par
sslue OF one hundred dollars (S100.00l
Zach Such stock shall be paid for IN
essh or in such installments and at such
,ime and after such notice to subscribers
az the Board Of Directors may determine
and fix, or same may be issued at not
less than par for labor zone or services
reformed for said corporation or for
p,onerty or rights actually delivered to
and received by said corporation.
Twenty -five thousand dollars (s25. O00.00)
NJ the capital stock has been subscribed
for at the time of the passing of this Act
of incorporation and this corporation shall
and shall no auth0riLQh
10 de business as soon at twelve thousand
Eve hundred dollars (S12, $4,000 of its
capital stock shall have been paid for.
An transfers Of shares of the capital
stock OF this corporation shall be made and
entered on the stock book of this corpora
ton and no transfer shall be in any man.
ner binding on the corporation unless so
entered.
Stock in this corporation Is issued, ac-
ouired and held by the stockholders I'M
der the following conditions which are
the essence Of their rights as stockholders
and which conditions shall be referred to
In the certificates of stock.
No stakeholder shall sell, ALLEVIATE, n.y.
pothecate or otherwise dispose of or en-
cumber his stock until he shall have first
offered the same to the other stockholders
Of the company, which offer shall be made
n writing to the Board of Directors.
whose duty IL shall be to transmit the
sane to the stockholders Immediately, and
said stockholders shall have seven days
from the receipt of said notice within
which they may purchase at the value
thereof.
The value of the stock for the purpose
Aforesaid shall be the same as Is shown
By the books of the corporation-estahlish
ed on the basis OF the last semi-annuaf
statement of the corporation in connection
with the monthly trial balance and the
Nmi-annual inventory.
II shall be the duty Of the corporation
to make up and preserve the foregoing
trialbslance and semi-annua1 and annual
statements for the purposes aforesaid. and
vhich shall at all times be ojen to the
vhw Of the stockholders.
Sho1ld more than one stakeholder offer
10 buy said stock, the same shall be dis
tributed among those wishing to purchase
according to their holdings in the cor
poratton.
In case Of the acceptance of the offer
uoder the provisions hereinabove set forth
the price therefor shall be paid In cash
within twenty-four hours after such ac-
ceptance.
ARTICLE v.-The capital stock Of this
than fifty thousand dollars ESQ 100000 by
vote Of two-thirds of all of the stock
at meeting called for that purpose.
ARTICLE VI.-All the corporate powers
OF this corporation shall be vested in and
exercised by Board Of Directors, com
whom shall constitute a quorum for the
rsnaction of business. The directors
snsil be elected annually by the stock
hHders Mt a meeting to be held on the
second Tuesday Of November In each year.
SAD meetings Of stockholders shall be
preceded by three days notice in writing
sent to each stakeholder at his or her
nN Known place of residence Each per-
son snail be entitled to one vote in per-
on or by proxy for each share of stock
aela' All elections shall be held under
sucn rules and regulations as may be fixed
,nss whether of Directors or of stock
heioers all questions shall be determined
meetings.
The Directors. when elected, shall con-
naue In office for one year and until their
s.s shall have been duly elected
a vuained. No failure to elect shall
sperste the forfeiture of this charter or
az. ngnt hereunder. ANY vacancy occur
aug on the Board of Directors shall be
me- u py the remaining Directors for the
Sep Term. The Board of Directors
10 IT'S election shall elect from among
memoers President, a Vice President,
i.,. srtary and a Treasurer, but this
son. may NC hiieu ny one per-
me General Manager. subject to the
~ or the Board shall have the right
sn.spoInt and dismiss the clerks or other
s.y"yees or the corporation at pleasure
nc as the interest and business OF the
pofation may require.
..n.IICLE vII.-The funds of the cor
A. snail be deposited from time to
4 an . bank or banks to be selected
49, ne Board Of Directors. All checks,
cutss OF other Instruments drawn, exc
pors,,an issued In the name of the cor
x shall be executed as determined
me Board Of D,roctor. ~. 1890,