The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-11
CHARTER OF FREDERIC A. DUGGAN
Co, INC.


CHARTER or FREDERIC A. DUGGAN
Co, INC.
United states OF America. State OF Lou
iSiana, Parish of Orleans. City of New Or
leans BE il known. That on this, the
lSt day of the month Of october. IN the
year Of our Lord one thousand, nine hun
dred and twenty, and of the Independence
Of the United States of America the one
hundred and forty fourth. before me,
Charles F. FletChinger. 4 Notary Public.
duly commissioned and qualified in and
for the Parish of Orleans, State of Lou
isiana. therein residing, and in the pres
euce of the witnesses hereinafter named
and undersigned. personally came and APP
pearcd the several persons whose names
are hereunto subscribed, all being of the
full age of majority, who ScSerally de
Clared that availiug themselves of the pro-
visions of the laws Of this State relating TO
the organization of corporations, they have
contracted and agreed and do, by these
presents. contract and agree and bind and
obliGatc themselves. As well as all such
other persons rs may hereafter become
associated with them, TO form and COnsti-
tute a corporation and body polite in
law for the purposes and objects and un-
der the StipuatiOns. articles and condi-
tions following, to-wit;
ARTICLE 1.-The name Of this corpora
-.
Inc" and its domicle is hereby estab-
lished in the City of New Orleans, Parish
of Orleans. State of Louisiana, and il shall
have and enjoy corporate existence for a
period of ninety-nine years from the date
hereof unless sooner dissolved. 1t shall
have the power TO contract, sue and be
sued to make and use a corporate seal,
the same to break or alter at pleasure; 10
purchase, lease. hold, mortgage. pledge,
sell or transfer under its corporate name
III of L IND nor
SOnal; 10 make and endorse bills of eN-
change and promisSory notes and to issue
bonds: to make all necessary rules and
regulations for its corporate management
and control. and to enjoy all the rights
privileges and immunities which are now
conferred upon or may hereafter be grant
ed to corporations of the same kind and
character.
ARTICLE U.-All citations and other
legal process shall be served upon the
President, or, in his absence or inability
to act, upon the Secretary or Treasurer.
ARTICLE UI.-The objects and pur-
poses for which this corporation is organ
| lied and the nature of the business TO be
carried on by IL are declared to be to own
buy, sell. hypotheCate or otherwise ALLEVIATE
or incidental thereto; TO enter into all
| Quire and operate vessels of any character
and TO do a general shipping, forwarding
brokerage and insurance business; to dc
and undertake any and all things necessary
or incidenta Thereto; to enter into all
/ contracts, agreements or engagements OF
| incur any obligations connected with OF
| appertaining to said business or appropri-
| ate to its effectual prosecution; to own
stock in other corporations and to vote
the same; to establish agencies or branches
at any place or places that the Board OF
| Directors deem advisable, and at the OPP
| ton of the Board to carry on any part
| of its business and exercise any part OF
its powers in other States of the Union
or in foreign countries.
| ARTICLE IE.-The capital stock of this
corporation is hereby fixed at the sum OF
one hundred and forty thousand (S140.-
! OOOOO) dollars, divided into and repre-
| scented by fourteen hundred C40O) shares
of the par value of one hundred (SlO0) dol
| lars each, all of which shall be common
| stock. The amount of capital stock may
| be increased to two hundred Thousand
| $500, 900 O0) dollars by a vote of two-thirds
Of all outstanding stock and according tC
| the laws of the State OF Louisiana. Al
stock shall be issued for cash or its equiv.
| alent or may be issued at not less than
par for payment for property actually
purchased or for services actually rendered
the corporation, or the same may be is
! sued full paid for money advanced or fol-
such other valuable consideration or serv.
ices as the Board of Directors may de-
termine. The corporation shall begin e
do business when fifty per cent of the cap
ttal stock has been subscribed for and nifty
| per cent OF llls SUBSCRIBER CaplIAI DalQ
and the remainder of the capital stool
shall be issued at such times and upoI
such terms and conditions as the Board o
Directors shall determine, subject to legn
requirements. All stock shall be full paiC
and worcestershire, and no transfer o
stock shall be binding upon the compan,
unless recorded upon the company's books
. | ARTICLE V.-The business and affair
or this corporation shall be managed ant
, conducted by Board OF five Directors
who shall be stockholders. The majorit,
OF the Directors of this corporation pres
, ent at any meeting in person or by prox,
! shah constitute quorum, and a majorit
vote or those present in person or b
? proxy shall decide all questions voted up
on. Said Directors shall be elected an
nually from among the stockholders o
e the nrst Monday in October Of each yea
unless the same shall be a legal HOLIDAY
when the election shall be held on th
@ next legal day thereafter, beginning o
: the hrst Monday in October, 1920. and afte
d fifteen days prior written notice havin
been mailed to each stakeholder Of recor
TO his last known address. The vOtin
snail be by ballot, and each stockhold,
shal De entitled to cast one vote for eaC
snare held by him which has been stanC
Ing In his name on the books OF the co
poralon for at least ten days prior TO Il
date OF the election. A majority OF Il
entire stock issued and outstanding vote
at such election shall elect Immediate
tors and the adjournment OF the stocl
holders meeting, the newly elected Boar
: of Directors shall elect from among the
| number the officers OF this corpOratIo
who shall be a President, Vice Presider
= Secretary and a Treasurer. The ofic
, of Secretary and Treasurer may be he
by the same person. The failure to ele
Directors or officers as herein provided 4
shall not result in the dissolution of q
corporation, but the then Board of 1
reCtors and officers shall hold their r
| Spective Offices until their successors a
duly elected and qualified. Special NEE
ings Of the shareholders may be he
when ordered by the Board of Directo
and must be held upon the request of n
less than twenty-five per cent of the ou
| standing stock after fifteen, days WRIT
notice to each stakeholder stating the o
. ject or objects Of said meeting. Any V
cancy occurring on any Board of Dire
tors shall be filed by the remaining meI
{ bers of said Board for thesunexpired ter
at meeting called for that purpose aft