The herald. [volume] (New Orleans, La.) 1905-1953, 1920-03-18
CHARTER


ARTICI The name Of this corpora
ton shall b" R0ney y Company. Inc, and
under said corporate name il shall have
Succession Tor nlncty-uiue years. unless
sooner dissolved, and shall have power
ana authority to contract. SUE and be
sued: 10 make and Use corporate. seal
IA" same to alter or break AZ pleasure.
70 make all necessary rules and rpgula-
lions Tor Its corporate management and
control. ana il shall have and pni0y all
the rights, privileges and immunitirS which
are now conferred upon or may hereafter
b" granted to corporations OF the same
sind and character.
ARTICLE 1.-THE domicilp of this cor
pOration is hereby fixed in the City of
New Orleans. State Of Louisiana. and all
citation and other legal process shall BE-
served upon .he President of said corpora
ton. and in case OF his absence, upon the
Vie" President and in case of the absence
OF both, upon the Secretary Treasurer.
ARTICLE III.-The objects and uur-
poses for which said corporation is or
-aUif"d are declared to b" 10 conduct a
general brokerage and commission mer-
chant business, 10 act rs agents for i'm
pOrtcrS and exporters: to act as foreign
ana domestic freight fOrWarderS. to place.
insurance of al kinds upon any goods or
property handled by il or with which it
may b" in any WAY connected. to own.
hire. l"a~'. charter aud operate vessels
har.c~. lighters or other means Of trans
p"rtation. and. generariy. to do any and
all things incidental or Errmaur to any
of the objects and purposes above sp,ci
ned.
AE1ICLE IV-The authorized capital
stock Of SAID corporation is hereby fixed
at tn" sum at twenty -fyr thousand
tS2J .OuuD dollars. divided into two hundred
ana nifty t2IUD ~har'S of the par value of
On" hundred dollars each. all Of which
shall be common stock. and the same may
b" issued for cash or in payment of prop
erty or services actually received by or
rendered To the corporation. This Com
pauy shah become n going concern and
authorized to transact business when
twelve thousand five hundred tSl2 800 dol
lars of its capital stock shall have been
subscribed for and fully paid in No
transfer Of stock shall b" binding upon
this corporation unless made and recorded
upon its books The parties hereto de
clare that they have subscribed for the
number Of shares of the capital stock of
III" corporation set OppoSit" their re>pcc-
tlVe signatures.
ARTICLE N.-All of the powers of said
corporation shall be vested in and eNcr-
ciScd by Board of Directors composed
of not less than three nor more than iive
stockholders. Is determined by the stock
holders AT each annual meeting or any
special meeting called for that purpose
and majority of tn" Beard shall consti-
tute quorum for the transaction Of all
rcCtorS voting in person or by prONy
which they are specially authorized to is
sue ia favor of any other member of the
Board, shall he required to pass any rcSo-
luton or adopt any bylaw. which when
50 passed or adopted shall become valid
corporate acts. The Board Of Directors
shall be elected annually at general
meeting of the stockholders. to be held on
the first Tuesday in January, 1921. and
annually thereafter. after ten days writ
ten notice mailed to each stakeholder al
his last known address appearing upOn
the books of the corporation. unless such
notice be waived by unanimous consent
Tn" failure. from any cause. to hold the
annual meeting or the failure to elect hi
reCtOrS thereof shall not operate the for
f"iture of tn" charter or impair the cor
porate management. but the Directors
then in Office shall serve until their sue
ce>SOrS have been duly elected and quail
fed. ANY vacancy in the membership OF
the Board or Directors shall be filled for
the uncxpireG term by the remaining hi
rector or directors. The officers OF the
corporation shall consist of a President
two Vice Presidents. a Secretary and a
Treasurer. which last named officer need
not b" director or stakeholder OF the
Company. and the Offices of Secretary and
Treasurer may be combined with any other
offices.
ARTICLE VI-The first Board of hi
r"CiorS shall serve until their successors
are elected and qualified and shall con
SlSl OF y. ~. becSneSan. VINO shall bO
President; J. G. ROney. who shall be Vice
President and Manager: \. Q. Peterson.
who shall he Vice President: VI. r. Coatp
who shall be Secretary; II. =. Rowley. who
shall be Treasurer.
ARTICLE VII.-'This Act of Incorpora-
ton may be changed. altered or amended
or this corporation may be dissolved by
ana with the consent of the holders of two
thirds in amount Of its then outstanding
stock ut "A general meeting convened for
NJ
writing mailed to each stockholders last
Known address, and after fifteen DAYS pub-
hcation in one of the daily newspapers
published in the City of New Orleans, as
should be dissolved by limitation or other
wise. its affairs shall be liquidated under
the supervision Of three commissioners
to be elected at a general meeting of
shareholders convened for that purpose
after notice as provided in this article
and they shall remain in office until the
anairs OF the corporation shall have been
fully liluidated; and in case of the death
or INABILITY TO act of one or more OF the
sale liquidatOrs. the survivor or survivors
shall continue to act under the provisions
and in accordance with the terms of Sec.
ton 80 of Act 26T of 1914
ARTICLE WILL No shareholder of thi.
corporation shall ever be held liable OF
responsible for the contracts or faults Of
this corporation in any further sum thar
the unpaid balance due upon the shares OF
stock owned by him; nor shall any mere
lnfOrmaliIy in the organization have tn,
effect of rendering this charter null or OF
exposing any shareholder to any liability
beyond the unpaid balance due upon hi.
stock. nor shall any mere infOrmality OF
lrr"gularity in the organization have the
effect OF rendering any shareholder liabl,
AS n partner.
ARTICLE IN.-NO present or futur,
stakeholder shall ever yalidly sell, assign
or transfer, other than by inheritance any
| OF the stock of this corporation until tn,
same shall have been first offered to tn.
remaining stockholders for the benefit o
those stockholders who may desire to pur
chase the same, through the Board of hi
rectorS for a period of ten days. at tn,
book value of snch stock as shown by tn,
| books of the corporation at the close o.
| the last preceding fiscal year. 1t shall b,
| the duty of the Board of Directors
| promptly upon receiving an offer of sal,
OF any of the common stock of this cOrpor
alton to communicate the same to tn,
stockholders. in writing, through the Sec
rotary. and each of the said stakeholder.
shall be entitled TO purchase such proper
ton Of the stock so offered for sale as IN,
number or shares owned by him at tn,
time bears to the number of shares owned
by all of the stockholders who may de-
sire TO participate in the purchase Nc
sale under foreclosure. attachment or other
process or by virtue of any power of at.
torney, pledge or hypOthecation. shall b,
validity made of any of the stock of this
ments have been complied with by the per
son or persons. firm or corporation pro-
Voking such foreclosure or sale. The
Board of Directors shall have authority
however, to waive the above requirements
as to any particular hypothecatiOn or