The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-18
CHARTER OF NEW ORLEANS DRUG
co, INC.

Nov. 4-Dec. ..
CHARTER OF NEW ORLEANS DRUG
co, INC.
State Of Louisiana Parish of Orleans.
City of New Orleans. BE it known, That
on this thirteenth day Of October. in the
year of our Lord, nineteen hundred and
twenty, and of the Independence of the
United States of America, the one hun
dred and forty-fourth. before me. Warren
V. Miller. a Notary Public, in and for the
Parish of Orleans, Louisiana, and in the
presence of the witnesses hereinafter
named and undersigned. personally came
and appeared. the several persons whose
names are hereinafter subscribed, all of
full age who declared unto me, Notary.
that, availing themselves o. the laws of
the State of Louisiana, relative TO the or
CaniZatiOn of corporations. they do by
these presents, contract, agree. covenant.
Stipulate and bind themselves, as we'll as
such persons as may hereafter become as
sociated with them, to form and cOnsti-
tute corporation and body polite in
law, for the objects and purposes and I'M
der the stipulatiOns hereinafter set forth,
tO-wit:
ARTICLE 1.-The name and title of
this corporation shall be New Orleans
Drug Co, Inc, and under such title il
shall have and enjoy succession and eN-
istcnce for a period of ninety nine years
from date hereof: IL shall have the power
and authority to contract. sue and be
sued; TO make and use a corporate seal,
the same 10 break and alter at its pleas
ure; to hold, purchase, lease. sell, mort
gage or hypOtheCate, or pledge property,
real. personal or mixed. and for the pur-
pose Of carrying on list business, to make
and issue notes and other evidences of in
debtedness; to name and appoint mana
gers, clerks or other employees. for the
proper conduct of Its business, and TO dis
charge same at its pleasure; TO make and
establish such bylaws. rules and regula-
tiOnS. as may be found necessary and de
sirable for the management of the affairs
Of the corporation, and generally TO do
all and everything, act or deed, for the
complete and proper conduct of said bus
mess.
ARTICLE 1.-THE dOmicile of this cor
poration shall be in the City of New Or
leans, State Of Louisiana, where all cita-
] tons and other legal process shall be
served upon the President, or. in the alb
sence of the President, upon the Secre-
| tary.
ARTICLE III-The capital stock OF
| this corporation is hereby fixed at the
sum of fifteen thousand dollars and is di.
| vided into ten thousand dollars of COM
| mon stock, represented by one hundred
! shares of the par value of one hundred
| dollars each, and five thousand dollars OF
| preferred stock represented by fifty shares
| of the par value of one hundred dollars
| each; each of which classes of stock may
| be increased up to five hundred thousand
| dollars; each of the classes of stock shall
be of the par value of one hundred dol
| lars each; the common stock shall be en-.
titled to vote in all of the affairs of tn,
corporation. and may be paid for by
! money, property, good will. or services
actually rendered to the corporation, al
1 as shall be determined by the Board OF
| Directors; the preferred stock shall bear
! Interest at the rate of seven per Get Del
annum, and such interest shall be payabl,
| before and in preference TO any dividends
l ~ mon or a 4
redeemed at not less than par out of net
| profits or earned surplus at such times
and under such terms and conditions rs
may be agreed upon by the Board of hi
| rectorS; said preferred stock shall also
| have preference over the common stock
| on all of the assets of this corporation,
] said preferred stock shall have no yot.
ing power and shall be paid for in cash
| services. or good will, at such times and
in such amounts as may be determined by
| the Board of Directors.
| ARTICLE IV.-The objects and purposes
Tor which this corporation Is formed are
declared to be as follows: To manufac.
ture and deal in drugs. chemicals and
druggists sundries and supplies, and all
articles and drugs sold or handled by
| drug stores, including fixtures soda
fountains, paper, twines and everything
used in connection with the drug bust
ness, and such other merchandise as
would be found advisable to be handled
| and sold: and to buy and sell any of the
| above articles in wholesale or retail guam
| tltles; to lease or buy buildings for cash
or on terms of credit and to operate one
or more places in the City of New Or
/ leans or elsewhere; TO build or acquire
| buildings and the rights. property, or
| stock CT other concerns, and generally to
sell or deal in any articles or goods ger
| name to or connected with any of the
above mentioned business
| ARTICLE N.-Al shares of common
SOCK OF this corporation shall be first
onered in writing to the Directors OF this
corporation for a period of thirty DAYS
AT the book value thereof before same can
De sold; the said restriction shall apply
10 the preferred stock with the excep-
non non that the preferred stock shall be Of
ARTICLE yI.-The corporate powers OF
TINS corporation shall be vested in Board
OF directors composed of three or more
m3iuers 81 common stock, a majority Of
whom shall constitute a quorum for the
transaction of all business. The absent
directors may vote at any meeting of tn,
directors by proxy to any other Di
aettor tor that particular meeting. Th,
nrst Board of Directors shall consist of
W. X. Yates, 1896 Camp street; Jules VOL
brette. ll32 Lowerline street; A. Hirsch
WITT 2Il5 Milan street with W. II. Yate,
as President. Jules Wolbrette as Score
tary, and Jules WOlbrette as Treasurer
and such Directors and officers shall
serve as such until the first Monday q
November. 1921. and until such turtle,
time as their successors are duIy elected
and qualified; the Directors shall b,
elected by vote of the holders of the com
mon stock at yearly meeting OF
the first Monday of November. start
ing with November, 1921; the Board OF
Directors shall have the right to cleo
without referring to a stockholders meet
ing any stakeholder as a Director when
| ever any vacancy shall exist on the Board
OF Directors through death or resignation
meeting Of the Board of Directors NAV b,
called at any time by the President. and
shall be held at such other times as NAV
be agreed upon in the bylaws.
Thus done and signed, on the day and
| date first herein above written, in the CITY
Of New Orleans, in the presence of Nathan