The herald., 1920-11-25
CHARTER.

|
scribed, who declared that. avaiIing them
| selves of the provisions of the laws OF
the State relative TO the organization OF
corporations, and more particularly of Act
| No. 26I OF the General Assembly of thu,
State, approved July ., 1914, they hav,
coyenanted and agreed and do by these
presents covenant and agree, bind, form
and constitute themselves, as well as such
persons as may hereafter join or become
associated with them. into a corporation
and body polite in law, for the bjects
and purposes and under the agreements
and supulations following, tO-wit:
ARTICLE 1.-The name and style of this
corporation shall be William X Seago a
Company, Incorporated. and under that
name II shall have and enjoy all In erightS
privileges and advantages granted by law
10 corporations, il shall exist for the
period Of ninety nine years from this date :
II shall have the power TO contract. sue
ana be sued in its corporate name; to make
and use corporate seal. and the same TO
break or alter at pleasure: TO hold. receive.
purchase, cultivate, improve. convey mort
gage, hypOthecate or pledge property, both
real and personal. 10 issue bonds notes
and other obligations or negotiable instru.
mcntS; TO have and employ such managers
directors, officers. agents aud other en-
pIO!etS as the interest and convenience
OF said corporation may require. or do
mand; TO make and establish such by
laws. rules and regulations for the rurpor-
ate management and control of the affairs
OF the corporation as may be deemed urcrS-
SaTy and cNpedicnt.
ARTICLE 1.-THE domiciI, of said cor
poration shall be established in the CITY
Of New Orleans, State of Louisiana and
all citations and other legal process shall
be served on the president, and, in his alb
Sencc, on the Secretary.
ARTICLE III.-The objects and pur-
poses for which this corporation Is organ
Il NAT O -.. Il.
carried on by it are hereby declared to be 4:
10 buy. sell and deal in sugar. molasScS
rice, coffee and other merchandise o.
every KIND and character, including the
buNlnG ana selling on commission for it
self or for others. and to import and ex-
port such merchandise as il may buy or
sell, and to that end, TO own property of
every kind and character whatsoever as
may be deemed necessary in the discretion
OF the stockholders. and to do any and all
character of business which may be ger
name or incidental to a mercantile bust
ness.
ARTICLE Iv.-The capital stock Of this
corporation Is hNcd AT the sum of fifty
thousand J0O0OO0J dollars, divided into
hye hundred (JOOl shares Of the par value
OF one hundred dollars (SlO0.OO) each. All
shares Of stock shall be- fun paid and non
asseSsable. and shall be paid for in cash
or in property taken over by the corpora
ton. No transfer Of stock shall be bind
ing upon the corporation unless made
upon the books: and all certificates of
stock shall be signed by such officers as
may be designated by the Board of Di-
rectOrs.
ARTICLE V.-An the corporate powers
90 the Company shah be vested in and
the management and control of its affairs
snail be exercised by a Board of Directors
composed of three stockholders, a majority
OF whom shall constitute quorum for the
transaction Of all business. The Direc-
tors shall be elected annually by ballot on
NJ An
Each stakeholder shall be entitled. in per-
son or by proxy, TO vote for each share
OF stock owned by him, and all elections
shall be hHd under such rules and repuIa-
tiOnS as may be determined by the Board
OF directors, after fifteen DAYS notice nv
mall OF such election shall have hean sent
TO each stockholder at his last known ad.
dress. The Directors thus elected shall
continue in office for one wear. or untii
thelr successors shall have been duly
elected and qualified. No failure 10 elect
shaIl De regarded as a forfeiture of this
charter. Any vacancy ACQUIRING on SaiJ
Board shall be filed by the remaining hi
rectors Tor the unexpired term. The said
board shall, at the first meeting after It's
election. nominate out of its number a
President, Vice President and a score
tary Treasurer. Said Board shall have tke
right TO appoint and dismiss such clerks
managers and other employees of the cor
Poratlon as conditions may justify, or the
business of the corporation NAV renujra
The tenure of Office of all EMPLOYEES Of rho
corporation shall be during the pleasure of
the Board OF Directors. Any of the hi.
rectors or officers shall have the right to
appoint, by written instrument another
Director or stakeholder 10 act as his
proxy, and in his stead at any and all
meetings of the Board of Directors.
ARTICLE VINO stakeholder snail ever
De held liable or responsible for the con.
tracts, faults or debts of said corporation
nor shall any mere informality in its or.
ganization have the effect of rendering this
charter null, or % exposing any stock
holder to any liability beyond the unpaid
oaIahce due on the shares owned by him.
ARTICLE Widths act of incorporation
may be changed modified or altered. or
this corporation may be dissolved, with
the assent of the stockholders owning
three -fourths of all the stock of the cor
poration, at a general meeting convened
for that purpose, and after at least ten
days written notice Of this meeting has
been given through mail addressed to each
stockholder, at his last known place Of res
idence. Whenever this corporation is dis
solved. either by limitation or otherwise
its affairs shall be liquidated by three
iiquidators. to be selected by the stock
holders at a meeting legally convened for
that purpose.
ARTICLE vIII.-Until the election to be
held on the first Monday Of August. 1921
Messrs. Edwin 2. BRANDED, President; John
:. Talmage, Vice President, and Alma O.
Fearce, Secretary Treasurer, shall consti-
Auc hIst DOdru OF directors, or whom
Edwin p. BRANDED shall be President John
5. Talmage shall be Vice President, and
Alma o. Pearce shall be Secretary Treas
urer.
ARTICLE IX.-No stakeholder of this
shall dispose Of his stock to
any third party without first Offering 1t to
the corporation at its book value. The
corporation shall have thirty 1901 days
within which to accept or reject this offer,
and II said offer is not accepted upon the
expiration Of thirty 1907 days. then and in
that event, the said stockholders shall be
at liberty to dispose Of his stock as he
deems proper.