The herald., 1920-08-26
CHARTER

common stock, IN any year, any excess
amount over and above the amount re-
quired TO be set aside for surplus, and TO
pay such dividend of eight per cent Cofcl /
on the common stock, shall be distributed /
in additional dividends for that year-One- /
half of such amount to the preferred stock !
and the other one-half of such amount TO /
the common stock.
The holders of the preferred stock shall !
have all the same rights and voting powers |
of the holders OF the common STOCK. snare |
and share alike; and in the event OF dis !
solution or liquidation of this corporation, !
the preferred stock shall first be paid at
par. together with all deferred and unpaid |
dividends thereon, before the holders OF
the common stock shall be entitled to re
ceiye anything; and the balance OF the as
sets, if any, shall then be distributed TO
the common stock.
In all other respects except as herein
above provided. the preferred and the com
mon stock shall be on the same basis
There shall be twelve hundred ana fifty
tl2JO) shares, of the par value of one hun
dred dollars (SlOO0U) each, of common
stock, 10 be paid for in cash or its equiv
alent in property. Said common stock
shall be entitled to participate in the earn
Ings of the company, as hereinabOve pro-
vided for; but in the event of dissolution
or liquidation of this corporation. said
common stock shall share in the assets of
this corporation, only after the preferred
stock shall have been retired at its par
value, together with all deferred and un-
paid dividends. as provided above.
ARTICLE V.-Al the powers of this cor
poratiOn shall be vested in and exercised
by Board of Directors, composed of five
90 stockholders OF the company, TO be
selected in the manner herein provided
At least three 90 of said Directors shall
be owners of preferred stock of the CJn-
pany. Said Board Of Directors shall be
elected annually at general meeting OF
the stockholders, called for that purpose
on the third Monday in January Of each
year, after due notice, in accordance with
the laws of Louisiana. Each holder of
stock shall be entitled to one vote for each
share of stock standing in his name on
the books of the company. Said vote shall
be cast in person or 10y proxy, ana ma
jority of the votes east shall elect. Said
| Board of Directors shall have the power TO
| fill all vacancies. which may occur on the
Board, even though no quorum remain at
| the time such vacancies are to be filled.
| Failure to elect Directors on the day above
| specified shall not dissolve the corpora
| tion. but the Directors then in office shall
| remain in office until their Successors are
| elected and qualify.
| The Board shall elect from their mum
| her a President. a Vice President and
| Secretary Treasurer. At any meeting of
| the Board of Directors, any Director alb
| sent from the meeting may be represented
| by any other Director, by written proxy,
who may cast the votes of the absent hi
| rector.
! The Board of Directors shall have the
| authority to make and establish. as well
| "a alter and amend, all bylaws, rules and
| regulations for the proper management
and conduct of the business and affairs
| Of the corporation, and shall have the
| power TO authorize the borrowing of mon
ey, the issuance of notes or other evidences
| of Indebtedness and the execution of mort
| CAGES. as hereinbefore set forth, and gen
| orally to do all things necessary or con
| venient for the proper carrying on of the
| business OF the corporation.
| Until the general meeting OF the stock
hni fnr hn ola af IN ha
| held on the third Monday of January, 1921
| or until their duly qualified successors are
elected and installed the Board of Direc-
tors shall be composed of: George a.
| Hero, No. $40 TchOupitoulas street, New
Orleans, La; Will Ii. Douglas, Ne. ll49
| Tchoupitoulas street, New Orleans. "a. :;
Gus Il. Baldwin, No. $50 Camp street, New
Orleans, La; 5. Brook Dickson. No. 429
Celeste street. New Orleans. La; Alfred
q. Hero, No. 800 TchOupitoulas street, New
| Orleans, La, with George A. Hero as
| President. Gus Il. Baldwin as Vice Presi-
dent and Alfred U. Hero as Secretary
| Treasurer.
The terms of office of said Officers shall
run concurrently with that of the Board
selecting them, except the first Board, who
shall serve until the third Monday in Jan
uard, 1922.
ARTICLE yII.-The common stock Of
| this corporation is issued in payment for
the patent rights owned By Numa G. Hero,
| under patent No. -, for a machine
and process known to him to manufacture
paille finne hay in combination with other
| substances into food for stock, and the
sole right to manufacture and use such
| machine is transferred and assigned to
this corporation. The said patent rights
process and the sole use thereof have been
appraised by the Board of Directors at
| Sl25.OOO.OO and common stock Of the par
| value of S125 90 shan be issued to Numa
{. Hero, upon the company receiving no
| tarial transfer of said patent and process
and all the rights Hereunder and the sole
| right to use same.
ARTICLE VIII.-This charter may be
amended or the company dissolved. as pro-
| vided by the laws of Louisiana
ARTICLE IX.-The subscribers hereto
| have respectively written opposite their
names the amount of stock subscribed by
them 10 this corporation. SO that this act
of incorporation may also serve as the
original subscription list of the corpora
ton, and they have stated their postOffice
addresses, SO as to conform with act 267
Of the General Assembly of the State of
Louisiana OF 1914
; Thus done and passed at my office in
the City OF New Orleans. Louisiana on the
day, month and year herein first above
written, in the presence of Anna Naumann
and Herbert ID. Schneidau. the under
signed competent witnesses. here residing
who hereunto sign their names with said
appearers and me, notary, after due read
ing of the whole.
Original signed) Geo. A. Hero. 20
shares preferred stock: A. o. Hero, :
shares preferred stock; Will II. Douglas. 5
| Sloth II. fSt5uWln,
shares preferred stock; $. Brook Dickson
shares preferred stock; Numa {. Hero
LIB Third street, 1850 shares common
stock.
, co.. CHARLES sCHNEIDAu.
SSeaIJ Notary Public.
; State Of Louisiana. ParIsn Of Orleans
l. the undersigned Recorder of Mortgages
Tor the Parish of Orleans, do hereby Ger.
: tify that the foregoing act Of ipcorpora.
/; ton of "Pi Finne Feed Co, Incorporsted :
: was this day duly recorded In my office
in Book 1912, Folio -. New Orleans
: La, August -. 1920. Recorder Of Mort.
cages, Parish of Orleans
a true copy.
CHARLES SCHNEIDAU
Notary Public.