The herald., 1920-12-02
CHARTER.


scrihed who declared that. ayailInC them
selves Of the provisions of the laws of
the state relative 10 the organization co.
corporations, and more particularly ui Arr
No 1tt OF the General Assembly Of III.
state approved July .. 1914 tury hay,
CoyenaHtcd and agreed and do by tn-~'
presents covenant and agree. bind. form.
and constitute themselves. a. well as >u..
persons as may hereafter join or become
associated with them. into a corporation
and body polite in law. for the onIc.t-
and purposes and under the agreements
ana sjipuIauous following, to-wit.
ARTICLE The name and style Of This
corporation shall b" William Is. S-ago ~
company. Incorporated. and under that
name II shall have ami enjoy all On rrigut~
privileges and advantages granted by law
TO corporations, il shall rN4~t for the
period of ulurty-Hiue Years from this date.
II shall have the power To contract SUE
and hc sued in lis corporate name. 90 Ig,s,-
and use Cprporat, seal. and the same o.
break or alter al pleasure. TO hold. receive,
purchase, cultivate. improve. convey. mort
gag" hlpolhr'atr or pIrdE" property. both
real and personal. 20 ISSUE. bonds. notes
and other obligations cor negotiable, iu~fru.
Iu"u'~. 10 haNr and employ such managers.
directors. officers. agents and other EN-
II"yc"~ as the Interest ami convenience.
~ ~HId corporation may require. OF dr-
mHnd. % make and establish such Dos.
laws. rules and regulations Tor tho rurr.r.
AT" management ana control of th, affairs
90 tile corporation I~.I.ay be-, ,lr.su.r4 Iu....--
ssry and "Nr,di,ur.
ARTICLE II. The domi.ilr Of ~lid cor.
p"ratoH shall bee established Doe the city
81 New Orleans. state OF Louisiana. ami
an citations aud other legal process shall
Do" served on the PRESIDENT and, Ia his ab.
~ru.v. uH the Secretary.
ARTICLE III.-Thr objects and pun
poses Tor which this corporation is ORGAN
l]rd and ID" nature of Oh" hus.u'-~ G" hr
carried on 10y DO or" hereby declared 20 b..
To buy. sell aud deal in sugar uoltS~r-.
rice, uOit'" and other merchandise o.
every kind and character. iurluGiu- The
buying and selling uu commission for it,
self or for others. and To- import and ,N-
port such merchandise as il may buy or
sell. and 10 that end. TO own property OF
every kind and character whatsoever as
may be deemed necessary in the discretion
Of the stockholders. and 10 do any aud alI
character Of business which may hr ger
mah~ or incidental TO "a mercantile bust
Ness.
ARTICLE IN.-The capital stock Of this
corporation is iNrd at the sum of nifty
thousand ,S:UO"OUNl dollars divided into
i've hundred t5uul shares Of the par value.
OF one hundred dollars $4,000 each. All
shares Of stock shall Ice fun paid and non
assessablr. and shall be paid for in cash
or in property taken over by the corpora
ton. No transfer Of stock shall be bind
ihS upon the corporation unless made
upon the books. and all certificates of
may be designated by the Board Of III
rcctOrS.
ARTICLE V.-An the corporate powers
a. the Company shah bee vested in and
the management and control Of its affairs
shall be exercised by Board of Directors
composed Of three stockholders, majority
OF whom shall constitute a quorum for the
transaction of all business. The pirec-
tors shall be elected annually by ballot on
the first Monday of August in each year.
Each stakeholder shall To- entitled in per
son or by proxy. TO vote for each share
OF stock owned by him, and all elections
ShaIi be had under such rules and regula-
lions a. may be- determined by the Board
or Directors, after fifteen DAYS notice by
man OF such election shall have been sent
10 each StOCkh older at his last known ad.
dress. The Directors thus elected shall
continue in Office for one year or until
their successors shall have been duly
elected and qualified. No failure to elect
shall he regarded as a forfeiture of this
charter. Any vacancy occurring on said
Board shall he filled by the remaining hi
rectors Tor the uneXpired term. The said
Board shall, at the first meeting after its
election. nominate out of its number a
President a Vice President and Score
tary-Treasurer. Said Board shall have the
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 may require
The tenure of office of all employ eeS of the
corporation shall be during the pleasure of
| rectOrS or officers shall have the right to
appoint. by written instrument. another
Director or stakeholder to act as his
PROXY. and in his stead; AT any and all
meetings of the Board of Directors.
! ARTICLE VINO stakeholder shall ever
| be held liable or responsible for the con
tracts, faults or debts of said corporation
nor shall any mere infOrmality in its or
GanlZation have the effect of rendering this
charter null, or "a exposing any stock
/ holder to any liability beyond the unpaid
| balance due on the shares owned by him
ARTICLE NII.--This 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
stakeholder, 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
| liquidators. TO be selected by the stock
| holders at meeting legally convened for
that purpose.
| ARTICLE VIII.-Until the election to be
| held on the first Monday of August, 1921
Messrs. Edwin L. BRANDED. President: ohm
! ). Talmage, Vice President. and Alma O.
Pearce, Secretary Treasurer. shall conSti-
| tute the first Board of Directors. OF whom
| Edwin Z. BRANDED shall be President J ohm
| $. Talmage shall be Vice President and
Alma Q. Pearce shall be Secretary Treas
urer.
| ARTICLE IX.-No stakeholder of this
corporation shall dispose of his stock to
any third party without first Offering il to
| the corporation at its book value. The
corporation shall have thirty 800 DAYS
within which to accept or reject this offer
and If said offer is not accepted upon the
expiration Of thirty 800 days then and in
that event, the said stockholders shall be
at liberty to dispose OF his stock as he
deems proper.
| .