The herald., 1920-10-07
CHARTER OF LOUISIANA ACETELYNE
COMPANY, INC.

United States of America, State of Lou
/ i>iana. Parish Of Orleans. BE il known
| That on this 23rd day of the month of
September. III the year OF our Lord. one
thousand nine hundred and twenty U92O).
and of the Independence of the United
states of America. the one hundred and
! forty fifth, before me, Watts X. Lev
erlch. Notary Public, duly com
missiOned and qualified. in and for
the Parish of Orleans, State OF Louis
lana. therein residing. and in the presence
of the witnesses hereinafter named and
undersigned. personally came and appear
ed the several persons whose names are
hcreunto subscribed, who declared, that.
awaiting themselves of the laws of this
State relative to the organization of cor
pOrations, they have COyenanted and
agreed, and do by these presents covenant,
agree, bind, form and constitute them
>,lvcS, as well as such persons as may
hereafter join or become associated with
them. into corporation or body polite in
law, for the objects and purposes and un
der the agreements and stipulatiUns fol-
lowing, tO-wit:
ARTICLE 1.-The name and title of this
corporation shall be Louisiana ACetelyne
Company, Inc. and under its corporate
name II shall enjoy succession for the full
! term and period OF ninety mine years from
aud after the date hereof, and shall have
power ana authority to contract. sue and
| be sued; to accept and receive mortgages,
pledges or other hypOtheCatiOnS; to make
aud use Il corporate seal and the same to
]
receive. lease. hold or otherwise acquire
and convey, well as mortgage and
| hypothecate, under its corporate name,
! property. both real and personal and
mixed; to borrow money and make and
issue bonds and other evidences of debt.
and to secure the same by mortgage and
otherwise, To subscribe to and hold stock
in other corporations; to acquire hold and
reissue shares of its capital stock TO carry
out all of the objects and purposes herein
after set out; TO name and appoint such
managers and directors, officers and
agents. as the interest and convenience of
said corporations may require; and TO
make and establish, as well as alter and
amend at pleasure such bylaws, rules and
regulations for the management and rcgu-
latiOn of the affairs of the corporation as
may be necessary, proper or convenient.
and generally to do all such acts and
| things as trading corporations are author
lied to do under the laws of the State of
Louisiana.
ARTICLE 1.-THE domicile Of this cor
pOratiOn shall be in the Parish of Orleans
State of Louisiana, and all citations or
other legal process shall be served upon
the President of the Company, or in his
absence, upon the Vice President.
ARTICLE III.-The objects and pur-
poses for which this corporation is organ
lied and the nature of the business to be
carried on by it, are hereby declared to be:
To manufacture, buy, sell and deal III
acetelyne gas, Carbides and /Or welding
material; to manufacture any and all sorts
of property, material and devices; to aC-
quire, hold and deal in personal property
of every character including stocks bonds
Obligations and securities of other cor
pOratiOns; to exchange the entire capital
stock or any part thereof for property
which ii Is authorized to acquire: to eX-
change its entire assets and business, or
any part thereof, for property, stocks
bonds or other obligations of other com
panies, firms or individuals; to buy. sell,
lease, hold, develop and improve real es-
tate of all sorts, and generally to do all
such acts and things as a general trading
corporation. under the laws of the State
of Louisiana, is authorized to do.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at one hundred
fifty thousand $3.50 OOOOO) dollars of the
par value of one hundred (SlOO0O) dollars
per share. The amount of said stock may
be increased to five hundred thousand
$500 100000 dollars. No transfer of stock
shall be binding upon the corporation un-
less made and recorded upon its books.
No stakeholder shall have a right to trans
fer or convey any of his or her stock in
the corporation unless and until he or
she shall have first made a written offer
to the other then stockholders Of the cor
poratiOn, and to the corporation itself to
sell his or her stock to them at the book
value thereof. Book value" as used here.
in is hereby defined to mean the value nj
which the assets and liabilities Of the cor.
pOratiOn have been in good faith entered
upon its books. Such written offer shall
be addressed to the other then stOckhOId-
erS, and to the corporation itself, COllec-
lively, and shall be delivered to the office
of the corporation not less than ten DAYS
prior to the application for transfer of the
stock. The corporation shall transmit this
offer to the respective then stockholders,
and the stock Of the stakeholder desiring
to sell shall be distributed prOrata among
such of the other stockholders as desire to
purchase, in the proportions in which the
holdings Of the stockholders DESTROYS OF
purchasing bear to each other; and if the
total which such other. Stockh OlderS desire
TO purchase is less than the total offered
for sale. then, after each Of the other
stockholders shall have taken and paid for
the amount of stock which he or she de-
sires to buy and to which he or she is en-
titled. then the remainder untaken shall
be open for purchase by the corporation
itself, and unless prohibited by law, the
corporation may itself use and apply its
surplus earnings or accumulated profits to
the purchase from any stakeholder desir-
Ing to sell OF any portion of that stock |
holders stock which none of the other
stockholders may desire to acquire. at the
book value thereof; provided that the cor !