The herald., 1920-09-09
CHARTER OF PI-FISNE FEED CO,
INCORPORATED.

United States Of America. state Of Lou
isiana, Parish Of Orleans, City Of New Or
leans. BE il known. that on this thirteenth
day Of the month of July. in the year of
our Lord. one thousand nine hundred and
twenty: Before me. Charles SChneidau, a
qualified. in and for the Parish of Or
leans. State of Louisiana, therein residing,
and in the presence Of the witnesses here
matter named and undersigned. personally
came and appeared the several persons
whose names are hPreuntO subscribed, who
declared that, ayailing themselves Of the
laws of this State. relative to the organiZa-
tool of corporations, they have covenanted
and agreed. and do, by these presents Gov
enant. agree. bind, form and constitute
themselves. as well as such persons as may
hereafter join or become associated with
them, into corporation and body polite
in law. for the objects and purposes and
under the agreements and stipulations fol
lowing. tO-wit:
ARTICLE 1.-The name and title of this
corporation shall be -Finne Feed Co,
Incorporated and under its corporate
name il shall enjoy succession for the full
term of ninety nine years from and after
the date hereof: it shall have the power
and authority TO contract. sue and he
sued, and make and use a corporate seal.
the same TO break and alter at pleasure:
to hold. purchase, lease, sell. mortgage,
hyPOthecate. or pledge property. real, per
sonal or mixed. necessary, incidental or
proper for the carrying on of its business;
to borrow money and make and issue
notes. bonds and other evidences of In
debtedness therefor. and TO secure the
same by mortgage or otherwise, to hold
stock in other corporations; to name and
appoint such managers and directors,
officers and agents as the interest and
convenience of said corporation may re-
quire; to make and establish, as well
alter and amend, at pleasure, such by
laws, rules and regulations for the man
agement and regulation of the affairs of
the corporation as may be necessary,
proper or convenient.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans, Parish of Orleans, State of Louisi-
ana, and all citations or other legal pro-
cess shall be served upon any of the
officers of the corporation.
ARTICLE III.-The objects and pur-
poses for which this corporation is organ
lied, and the nature of the business TO be
conducted by IL, are hereby declared TO be :
LIST. To purchase the patent rights for a
machine to dry hay and other food prod
uctS; to manufacture, sell, lease and oper-
ate, or to permit the manufacture, sale.
lease and operation of said patented ma
chimes on a royalty basis, or otherwise.
End. To buy, lease, own and operate
plantations. for the purpose of growing
| paille finne hay and other food products.
and to erect. own. lease and operate fac
| tories to manufacture paille fihne hay in
combination with other substances into
| food for stock.
3rd. To hold. purchase. lease, sell. mort
gage, hypothecate or pledge property, real.
personal or mixed; to borrow money and
make and issue notes, bonds and other
evidences of Indebtedness therefor, and to
secure the same by mortgage or otherwise /;
and TO buy and sell stock and bonds.
ARTICLE IV.-The capital stock of this
| corporation shall be fixed at the sum of
two hundred and fifty thousand dollars
$3.50, OO0.00), which shall be divided into
two classes of stock, known as preferred
stock and common stock.
OF the total capital stock one hundred
and twenty-five thousand dollars (Sl25,
O00.00) shall be classed as preferred stock
divided into and represented by twelve
hundred and fifty Q2J0) shares of the par
value of one hundred dollars (S1OO.OO) each,
to be paid for in cash or its equivalent in
property.
The preferred stock of this company
shall be entitled to dividends at the rate
dividends shall be paid by preference and
priority over the common stock, and shall
be cumulative. The dividends upon said
preferred stock accruing in any one year,
together with all the accumulations of div
idends or parts thereof remaining unpaid
from preceding years, shall be paid in full
before any dividends whatever shall be
paid on the common stock.
After the payment of the dividends due
on the preferred stock, as above provided,
in any one year, the remainder of the net
earnings Of the company, after the Board
of Directors, in their discretion, shall have
shall be applied to payment of dividends
upon the common stock Of this company,
then outstanding, not to exceed eight per
cent (S%l on such common stock. before
further distribution; and after eight per
cent $50 shall have been paid on the
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 $50
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, share
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
bred dollars ($1OOO0) each, of common
stock, to be paid for in cash or its equiv
alent in property. Said common stock
shall be entitled to participate in the earn
nss VI tue Compdny, as nerelhaoo'e 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.-An the powers Of this cor
poration shall be vested In and exercised
by Board of Directors, composed of five
(5l stockholders of the company, to be
selected in the manner herein provided
At least three (3) of said Directors shall
be owners of preferred stock of the cUm-
pany. Said Board Of Directors shall be
elected annually at general meeting of
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