The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-18
CHARTER.

property regularly transferred to the cor
poration. all as shall bc determined ~ the
Board Of Directors.
ARTICLE III.-The objects and pur-
noses for which this corporation il organ.
izad and the nature of the business 10 Dc
conducted by II are declared 70 d" ih'
huviug. selling, leasing, operation OF, anu
othcr,IiSe dealing in. either as principal
or agent lands timber, lumber, fuel
billing veneer, mill work. ana wooden war.
and such other articles as ar" orlluITIlt
sold or used in conjunction th"r""liA. IH.
Z, luuiug articles manufactured or OF same.
ia operate and maintain saw mills, plan
ing mills. ycHr,rlnS mills, ana TO DO %
general saw mill and wooden war" hu~.
ness, including all kinds Of wooden pro
ducts: to OprTat" turpcntluc ana rriur'
plaut~: to opcTat" and conduct general
mercantile business, and TO buy and SELL
merchandise OF al kind. Go own. lease.
construct and operate tram roads. rriEH',
railroads. bitches. canals, steamboats,, Tow
boats and hargc~. and ia general % oo au.
perform and engage in any business Iu.I.
dental to, requisite or connected with Do.
operation Of any Of ia" businesses above
mentioned or such other business as Iu'
contradictory TO the above set forth on.
jcH~.
ARTICLE IV.-Thc corporate powers %.
this corporation shall bc vested ia % suar.
Of three 90 Directors. a majority OF whom
shall COu>tltu', a quorum for the trau~a..
tiuu Of business. Absent Directors may
vote at any meeting OF the Directors d..
proxy in writing to any other Director
for that particular meeting. The first
shall be composed Of W. y. Sullivan, j. 7.
Cloliugcr and /. W. Schlutcr. with ". 4.
sullivan as President and Treasurer. i. 4.
ClOliHger rs Vice President. and J. ".
Schlutrr As Secretary. the said officers and
directors shall serve Is such until the sr.
und Monday in January. 1929. or until
their successors are duly qualified and
elected. Meetings OF the stockholders for
20 nf lt41 l.4 hall
yaariy on the second Monday in January
beginning with the year 1923. The Board
Of Directors shall have the right 10 elect
without reference to a stockholders meet.
ing, any stakeholder To be 4 director
whenever q vacancy shall exist on tu,
BOARD Of Directors through death or res
ignation.
ARTICLE y.-The corporate powers O.
forth by Section Seven a. of Act 267 q.
the year 1914. and shall be duly employed
by and through the Board of Directors
The duties of the several officers shall b.,
set forth in the bylaws. which will D..
adopted by the Board of Directors. and
amended or altered at their will: and they
shall have the right to employ. under con
tract or otherwise, a General Manager. who
may or may not be member of the Board
Of Directors. as said Board OF Directors
may determine, and which said General
Manager shall have such duties rs the SAL.
officers may delegate 10 him and who's,
uHLpeHNdllou SAdll re u1eN by the EOITs
Of Directors.
ARTICLE Wit Is further a part Of
mutual agreement under which the stock
holders herein have entered into this cor
pOratiOn and which is made binding
covenant between them. each covenantiug
contracting and binding himself his heirs.
assigns, administrators, associates and sue
ceSSOrS that each and every stakeholder
before being allowed to make any sale Of
stock owned by him in this corporation
TO any person except one already stock
holder of this corporation, he shall Offcr
same to the stockholders then of record at
a price not to exceed the value thereof as
determined by the books of this corpora
tiOn. which said offer shall be open for a
period of fifteen days. each stakeholder be-
ing permitted 10 purchase a proportion Of
the stock so offered in accordance with the
amount of stock he holds in this corpora
ton. and in the event that any stock
holder does not purchase his prorata of
the stock so offered for sale, then the bal
ance of the stockholders so desiring NAV
purchase a prorata Of the balance of said
stock in accordance with the amount of
stock they hold in this corporation. 1t is
understood that at the expiration Of TWEEN
~ days. without the stockholders purchas-
ing said stock offered for sale, the selling
StOCkh Oldsr is relieved of all disabilities