The herald. [volume] (New Orleans, La.) 1905-1953, 1920-10-07
CHARTER
CHARTER OF NEW ORLEANS TRUCK
ANn nRANAGE COMHANN. NO"

hundred ana twenty. before me, Frederic
e. Qucrcns. a Notary Public quIy com
misSiOuyd and qualified IN ana Tor the
Parish Of orleans, state OF Louisiana,
therein residing, and in tn" presence OF
the witnesses hereinafter named and I'M
drr~igUrd. personally came ana appeared
DR. Herman 4 Bennett. Frank W. Harvey,
or. NJ Anderson. John \. Leathem and
John Wagner. all OF full age and residents
of the city OF New Orleans, and all Of
whom declared that awaiting them selves
Of the prOyisiu OF tn" Constitution and
law, Of IN. State of Louisiana, relative 10
the formation and conduct Of corporations,
and particularly of the provisions Of Act.
No 2GT of the General Assembly of Louis
lana OF the year 1914, and its amendments,
they DO hereby form and constitute them
selves. and such other persons of az" as
may lawfully beCOm" associated with them,
into a corporation, body polite or stock
,ouuany entitled to the benefits Of all
laws pertaining to such bodies, ana 1Or
the objects and purposes, ana under thr
stipulationS set forth IN the following ar
ticlps. which articles shall constitute IN"
charter Of the corporation herein formed: .
ARTICLE THE name and title of the
CORPORATION hereby formed Is declared to
be: New ORLEANS Truck ana pray Ee
Company. Inc and its domicilc shall be-
I'm the CITY Of New Orleans, State OF
Louisiana. at which place all meetings OF
stockholders and directors shall be held
except As otherwise provided by law. II
shall have and enjoy corporate existence
and succession under the said name for
a period Of ninety nine years from and
after the date of this act, unless dissolved
otherwise according to law.
ARTICLE 1.-THE objects and purposes
for which this corporation Is formed aud
the nature Of the business be carried on by
a. are hereby declared to be:
To operate automobile trucks and other
vehicles for the purpose of carrying goods.
wares, and merchandise, by contract or
otherwise, in the Parish Of Orleans ana
In such other Parishes OF the State "1
1
business may require.
To erect, construct and maintain sheds
or warehouses necessary for the purpos"
of storing said automobile truCES. sup
plies, goods wares and merchandise.
To purchase, acquire, buy. own, hold.
sell. convey, lease, hire, mortgage. pledge,
or otherwise dispose Of or cucumber prop
erty. both real and personal, convenient
and incidental. and to contract in any
manner necessary for the proper accom-
plishmcnt and conduct of the business
hereinafter mentioned and contemplated.
ARTICLE IU.-The capital stock of this
corporation i hereby fixed in the sum of
sixty thousand (6O.OOO.OO) dollars. divided
into and represented by twenty -fOur hun
dred (2IOO) shares OF stock of the par
value of twenty-five t2JD dollars each,
eighteen hundred U,SUO) Of which
said shares of stock shall be com
mon stock and non asSrSSaUic, represent
ing a total value OF fOrty-uNv thousand
CS4J,OOO.OOD dollars, and SIX hundred luuOj
shares of said stock, rrprcSrntiEs Il total
of fifteen thousand tSlJ,uUuuol dollars,
shall bc preferred stock and nOn-'Umuid-
tive said preferred stock to bear diyIu, ndS
annually of not less, nor more ,h"n eight
81 per cent, payable out OF the net prohtn
of the corporation, as hereinafter s'ipi-
lated. and which said shares Of stock
shall be paid for before issued in money
or its equivalent, services or labor per
pOTmed, or property, real, personal or
mixed, aud actually received by the cor
poratiOn, and after due appraisal OF value
by the Board of Directors of the corpora
ton and acceptance Of the Board. such
valuation shall be conclusive upon the cor
pOratIOn, said preferred stock to be re
deemable any time after one % year, a.
the discretion of the Board of Directors.
said redemption to be made at par with
accrued dividends.
The capital stock of this corporation
may, at any time, by compliance with law.
be increased TO the SUN of one hundred
thousand (SlOO,OOOOOD Collars, by the is
suanCe of both additional preferred and
common stock as the stockholders and
Board of Directors may designate in
amending these articles.
ARTICLE IN.-The Powers OF this cor
pOratiOn are hereby declared to be:
To invest its Board of Directors with all
corporate powers subject to such restric-
tons as shall be named i'll the charter;
TO have succession under its corporate
name for a period of ninety nine years
from and after the date OF this act; to sue
and be sued in its corporate name in any
court Of competent jurisdiction; to make
ana use a common seal ana alter the
same ut its pleasure; to acquire property
by grant, gilt. purchase and devise or
bequeSt; to lease, hold and dispose Of
ana to mortgage and pledge the same, all
subject TO such limitations as may be pre-
scribed by law; to appoint such officers
and agents as the business of the cor
pOratlOn may require, and to Fix their
compensation, having due regard to the
nature, character ana value OF their Serv-
ices, to make bylaws not inconsistent
with any existing law, fixing or altering
the management of the property, the rcgu-
latiOn and government of its affairs and
the manner of the certifcatiOn and regis
tratiOn of its stock; to wind up and dis
solve itself, or to be wound up and dis
solved in the manner prescribed by law
TO conduct business in this state, other
states, the Federal District. territories and
foreign countries; to hold stock in other
corporations, the capital stock ID one cor
poratiOn may be issued for capital stock
IN other corporations; provided, however,
that no corporation shall be permitted to
vote more than ten per cent. of the capital
stock of any other corporation, and when
ever a given per cent of the capital stock
Is required for any purpose, such per
cent shall be calculated on the total
amount of outstanding stock entitled to
vote; and especially to have all the pow
Crs and privileges directly or by implica-
ton conferred upon corporations of this
character by the laws of this state as well
as such powers and benefits as are con
terred upon corporations by other states,
SiOnS of the United States and foreign
countries, when doing business therein
and which are not inimicable to the laws
of Louisiana.
ARTICLE VAN of the corporate DOW
erS and the management of the business
or the corporation shall be vested and
Is hereby vested in Board of Directors
which shall consist of a minimum number |
OF flve (J), and maximum number of nine
CD stockholders, each of whom shall hold |
IN his right at least one share of I'M |
pledged stock of this corporation during |
the tenure of Office. With the execution |
OF the Board hereinafter especially named |
the Directors shall be elected at the an
hual meeting Of the stockholders by a |
cumulative vote of all the bona fide stock
represented at such meeting by person |
or by legal written proxy, and such hi |
rectors, when legally elected and qualified |
shall hold office for one year or until
their successors are legally elected and
qualified.
The first annual meeting of the Stock
holders shall 'be held on the second Mon
day in January, 1921, IN the domiciIiarv
office OF the corporation. and the suh
sequent annual meetings shall be held on
the corresponding day in their r,snactiys
years written notice of which meetings
snail be delivered to each stockholder
either in person or by deposit OF same r.,
the post Office. at least fifteen u5c dora
prior to such. meeting, addressed To tbsir
last known address or place of residence.
or, as provided by Section 10 of Act No
~ OF 1914, and the laws relative theroto
III from any cause such annual meetings
are not held on the day above specified
or any stockholders meeting is considered
necessary, then the meeting for the cleo