The herald. [volume] (New Orleans, La.) 1905-1953, 1920-05-27
CHARTER.

! OF said capital stack shall have been au-
| thOrizcd thirty days written or printed
notice thereof shall bc given by publica-
| tIOu in Ga" uf ia" daily HcW >pap"I> pan
| liShcd in the City OF New orleans within
! which time persons holding stock i'll this
! corporation shall have the right to sub
| scribe for said increased stock III proper
! ton 10 the number Of shares OF STOCK
! then held 10y them, and which additional
! shares shall he paid for as the Board of
| directors may direct. After the "Nplra-
| tion Of said time the Board of Directors
! may dispOS" Of the shares not taken. Tor
| the benefit of the Company. in such man
| ntr ana on such terms and conditions as
! they may think proper. Dividends shall
/ h" declared on the amount actually cred
| tied on the capital stock without regard
To Tia" amount subscribed tor.
! Dividends arrruiug to stockholders,
who owe any portion Of any stock
! subscribed TOR 10y them shall Ice credited TO
| such unpaid subscriptions until the fun
! amount OF al stock subscribed for by such
! stockholders shall be paid in fun Such
! credit of dividends shall not in any man
| nrr relieve such stockholders from the
! pay mcnt of calls on such subscription, but
! the credit of such dividends shall be in
| cNrcSs of calls on such subscriptions 10
J stock. Interest at the rate of eight per
! cent per unnum shall be charged ON the
uupaid portI"n ot calls on >tOck Suh>"rIb-
| rd for from the maturity of each call. IL
any ln>tallment or inStallmcntS on stock
| subscribed for should not be paid within
| thirty days after the same shall become
| due, such stock and the subscription there
| To. together with all inStallInenJS paid
thereon. MAY he cancelled aud forfeited
to the Company Icy resolution of the
Board of Directors without further notice
putting in default or proceedings, or
the Board of Directors may hold the sub
SCriber to said stock personally response
bile therefor and take legal proceedings to
collect the inStalm"nt or iusIallmentS du"
thereon. The Company shall begin opera
ton a. soon a. thirty seven thousand HNr
hundred t'i1JOOD shares of the capital stock
are subscribed for or disposed of. At all
elections 10y or meetings of the stOckhold-
rr>. each share ct stock, whether pald
for in tull or not. shall hc entitled to
one vote, To be east either by the person
in whose name the stock appears on the
books of this corporation At the time OF
the voting, or by his agent or proxy, duly
authorized N writing to that effect. Nj
transfers Of stock shall be- made on the
books Of the corporation and shall he
signed 10y the >tockhold"r or 10y his al.
IOrury.
No Storkholdrr shall Ice allowed to
sell or dispose of his stock or any por-
ton thereof until after the expiration of
>iN months from Tn. date hereof without
nr>t giving III writing to the Hoard OF
directors twenty days notice of such iu-
tended transfer, and allowing the Board
OF Directors. or, on its default. any stock
holder IA" first opportunity of purchasing
chased for. a. indicated by the records
OF the company.
ARTICLE NI.-The business and af-
fairs and corporate powers of this corpora
tiOn shall be transacted by Board of
Directors composed of not less than five
Directors nor more than nine Directors TO
be composed of stockholders of this cor
pOratlOn owning at least ten shares of
the capital stock. The stockholders may
at any annual meeting elect less than five
he Inn
any annual meeting may prior to the next
annual meeting elect one or more addition
al members of the Board of Directors SO
as to make the Board of Directors not
more than nine. The Directors, whether
elected by the stockholders or by the
Board of Directors, shall he elected by a
majority of the votes at a meeting of the
stockholders or of the Directors, as the
ease may he.
Nelson q. Gorrau. Ezra ". Holden.
William EdenbOrn. Adolph Dumser A.
l.uria. Charles II. Schmidt, Charles Kohl
meyer. j. Zach. Spearing. and W. H.
Phillips. all of New Orleans. La with
Nelson G.. Gorean rs President. r. W
Holden a. Vice President. W. II. Phil
bps as Secretary, and Charles u. Schmidt
as Treasurer, shall constitute the first
Board of Directors and they shall hold
their Office until the third Tuesday i'm
January. l92i or until their successors
are elected and qualified: each subSeouent
Hoard shall take their seats Immediately
Following their election. or as soon there
after as practicable. and shall hold their
oHlce> uhill their successors shall have
been elected and qualified.
\ majority of the members of >,id
Board of Directors shall constitut. -
quorum Tor the Transaction and manage
m'ht Of all business of said corporation
oh the third Tuesday in January. 1gn3
anu a,iu annually thereafter. an election for
directors by the stockholders, shall he
held at the office of the Company. after
Ilfteen I'D days previous notice of sncb
meeting shall have been given nv adyer
liStlhent appearing three times in fifteen
da!s In one of the English newspapers
punished daily in the City of New or
leans. the first advertisement appearing
NOT less than fifteen days prior TO the
, meeting and the last advertisement ap-
pearlng on the day of the meeting Every
Board OF Directors shall ut its first meet
ing AFTER its election, or as soon there
aiter as practicable elect President n
We resident Secretary and Treas
urer, from their own number and sucb
other officers, who may or NAV nor no
STOCKHOLDERS or Directors, as NAV he do
slraDle, who shall hold office at the pleas
ure OF the Board of Directors. The Board
OF Directors may combine the offices of
secretary and Treasurer faiIura
| 10 elect Directors on the date above speci-
lied shall not dissolve the corporation bnt
| the then existing Board of Directors shall
continue to hold their Offices and another
| election shall be held as soon therea fter a .
| PracticaDle at time to be fixed by the
| board of Directors then in office. where
OF 1ltten days prior notice shall be given
IN the manner above provided which said
| notices shall be full and complete notice
| 10 all stockholders of such meetings, In
| the event no election takes place at the
| second meeting, or If no second meeting
] snail be called or held, the Board then in
| office shall hold over until the next an
| nual meeting or until their successors are
uuly erected and qualified. Any vacancy
occurring in said Board of Directors, from
any cause, shall be filled by the remain-
ing Directors. The Board Of Directors
may make such bylaws rules and regu-
| lations as they may think proper for the
transaction of the business and affairs
| OF Sald corporation, and change
| alter and amend the same Mt
| pleasure. and shall exercise all the DOW
| ers of this corporation. or may delegate
the same to one or more officers at its
pleasure; appoint and fix the salaries of
all officers, clerks and employees, not
herein mentioned, the same to change or
| dismiss at pleasure; fix the salaries of
the officers provided for herein: SELL CON
vey, mortgage, pledge, lease and purchase
| rights, privileges, franchises, property
movable, immovable and personal; borrow
money, issue notes and sign or cause to be
| signed by officers or Directors specially
or generally authorized by the Board Of
directors all necessary acts, deeds etc
ADOPT corporate seal the same to
| change or alter or dispense with at pleas
ure; and to do all things which may be
necessary to be done in the management
| or said business and permitted by the laws
applicable to corporations.
ARTICLE vII.-This Charter may be
Il