The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-15
CHARTER OF RUSSELL SUGAR COM.
PANY, INCORPORATED

United States of America. State of Lou
iSiana, Parish of Orleans. City of New Or
leans. Be il known, That on this first
day of the month of April, in the year of
our Lord, one thousand nine hundred and
twenty. before me. Bernard Titche. a No
tary Public in and for the Parish of Or
leans. State of Louisiana. duly commits
stoned and qualified, and in the presence
of the witnesses hereinafter named and
undersigned, personally came and appear
ed the several persons whose names are
hereuntO subscribed. who severally de
clared that availing themselves of the
laws OF the State of Louisiana, relative to
the organization of corporations, they have
coyenanted and agreed and bind them
selves, as well as such other persons who
may hereinafter become associated with
them, or their successors, to form and con
stitnte a corporation and body polite i'm
law, for the objects and purposes and un-
der the agreements and stipulations fol-
lowing. to-wit:
ARTICLE 1.-The name and style of
this corporation shall be Russell Sugar
Company, Incorporated and under that
corporate name it shall have and enjoy all
the rights and privileges granted by law
to corporations; IL shall exist for n period
of ninety nine 500 years from the date
hereof.
ARTICLE 1.-THE domicile of said cor
poration shall be the City of New Orleans.
Parish of Orleans State of Louisiana. and
all citations and other legal process shall
be served upon the President of the said
corporation, and. in the case of his alb
sence, upon the Vice President, and, in the
case of the absence of both Of these Off
GERS, upon the Secretary Thereof.
ARTICLE IlI.-The objects and pur-
poses for which this corporation is estab-
lished, and the nature of the business to
he carried on by it, are hereby declared
to be, to carry on general commission
business, and to buy, sell and deal in
| molasses, sugars, syrups, merchandise
goods, wares, food commodities and pro-
ducts of every sort. kind or description
as commission merchants and brokers
and as buyers. sellers and dealers: to buy
| sell and lease plants, tank cars, tank
barges, tank vessels; to erect storage and
canning plants, and any and all appurten-
ances necessary for carrying out the OBJ
iects and purposes of the company; 10
have branches at any points necessary,
either in the United States or elsewhere
| for the successful operation of said bust
ness.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum OF
one hundred thousand dollars $500. 900 00)
divided into one thousand u.OO0) shares OF
the par value of one hundred dollars
| (S10OOO) each, each share to be paid for
in such manner as the Board of Directors
may determine. The amount of the cap
ital stock may be increased to two hun
dred thousand dollars $500, OO0OO). and
the said corporation shall be authorized
to begin business and shall be a going
concern when fifty per cent of its capital
stock shall have been subscribed, and
| fifty per cent of all stock subscribed for
shall have been paid in. All sales and
| other transfers of any of the stock of this
corporation shall be void unless said stock
shall have been previously offered to the
| then existing stockholders. through the
Board of Directors at a stipulated price
and IL the Board. for the said stOckhold-
ers. does not see fit to purchase said stock
| then IL shall not be sold Mt n less price
or upon more favorable terms. without
| likewise offering II to the Board at such
price and upon said terms. In case OF
| sale or transfer of stock. or the issue OF
| increased capital stock, the then holders
of stock of the company shall have the
right to purchase said stock in the ratio
| of their holdings Of stock of the company
| No sale or transfer of stock shall be bind
| ing upon the corporation unless made
upon its books, and said transfer shall be
made only upon surrender or proof OF
loss or destruction Of the outstanding GER
tificate.
ARTICLE v.-Al the corporate powers
and authority of this corporation shall be
vested in. and the management and con
| troll of its affairs shall be exercised by
| n Board of Directors, composed of three
| stockholders, to be elected annually by
| ballot at a general meeting of the stock
| holders on the second day of the month OF
July in each year. No failure to elect
Directors shall be regarded as a forfeiture
of this charter. Any vacancy occurring
on the said Board shall be filled by the
! remaining Directors for the unexpirvC
| term. Said Board of Directors shall al
the first meeting after its election. elect
| of its number a President, n Vice Presi
dent. a Secretary and Treasurer, both o.
which last two officers may be combined
| in one person.
| ARTICLE VINO stakeholder shall evel
be held liable for the contracts or faults