The herald., 1920-04-01
CHARTER OF THE MERCHtNTS TRAD
ING COMPANY INCOR-
PORATED.

leans. lie IL known. that on this day, the
twentieth of the month of February, i'll
the year of our Lord one thousand nine
hundred and twenty, and of the indie
pcndrnCc of the United States of America,
the one hundred and fOrty-fourth. before
me- BusSirre ROucn, Il notary public IN
and for the parish of Orleans. state of
Louisiana. duly comm SsiOncd, sworn and
qualified. and i'll the presence of the Wit
ucSSeS hereinafter named aud undersigned,
personally came and appeared:
The several persons whose names are
hcrcunto subscribed. all of the full age
of majority. who declared that, awaiting
themselves of the provisions of the laws OF
this state relative TO the organization OF
corporations and more particularly Act
No pa of the General Assembly of this
state. approved July 9th. 1914; they have
CCvenantcd and agreed and do, by these
presents. covenant and agree. ana bind
themselves TO constitute for themselves. as
we'll as such persons as may hereafter be
come associated with them. n corporation
and body polite in law, for the objects
aud purposes. ana under the stipulatiouS
following. tO-wit:
ARTICLE 1.-The name and title of this
corporation shall he: Merchants Trading
Company. Incorporated" and. under that
name it shall have and enjoy all the rights,
privileges and advantages granted by law
to corporations: il shall exist for period
of ninety nine years from this day; II
shall have the power TO contract. sue anu
be sued in its corporate name; to make
I break or alter at pleasure; TO hold, re-
ceiVp purchase. convey, mortgage, ny
J pOthecate or pledge property, both real
I and personal; TO issue bonds, notes ana
other obligations or negotiable lnStru-
mentS; to have and employ such managers,
| directors officers. agents and other EN-
I poyees as the interests and convenience
I of said corporation may require or hr-
mand; to make and establish such by
/ laws. rules and regulations for the corpor-
ate management and control OF thc Al
I fairs of the corporation as may ne dceiheu
necessary and eNpedlent.
! ARTICLE 1.-THE dOmicile of this cor
poration shall be established in the city
Of New Orleans state of Louisiana, and
all citations and other legal process snail
no served on the president in his absence
on the yicc-preSident. and in case Oh the
absence of both on the treasurer
ARTICLE UI.-The objects and pur-
noses for which this corporation is or
CauiZpd and the nature of the business 10
he carried on by it are hereby declared TO
be: to buy and sell, import ana export
prepare. deal and trade in foreign ana 40
nestle commodities foods goods or things
and TO do generally wholesale Srocers
and provision merchants business anu
generally to do, and engage in, any other
business undertaking or enterprise con-
nccted with, growing out of, germane or
incidental to. any of the purposes hereln-
above set forth or contemplated by TINS
charter.
ARTICLE lN.-The Capltal Stoch ol lhiN
/ CORPORATION is hereby fixed ut the sum OF
| twenty-nine Thousand dollars tSs9OOOOO),
| divided into. and represented by two nun
/ dred and ninety (29O) shares or the par
| value of one hundred dollars (Sioo.Vp'
/ each. payable in cash at the time OF SUD
| scriptiOn.
All shares of stock shall he full paid
and non assessable. This corporation snail
have the right to increase its capital
! stock to the sum OF one hundreu 'hou-
sand dollars ($1OO.OOO.OO.
No transfer of stock shall be binding
upon the corporation unless made upon
! the books: and all certificates OF stock
shall he signed by such OfflcerS as may
be designated by the Board OF Directors
ARTICLE V.-AH the corporate powers
| of this corporation shall be vested in, ana
| the management and control OF It's al
fairs, shall be exercised by Board OF ~
rectors composed of five stockholderS' the
. ! membership of which Board may De IN
creased TO n number not exceeding seven
by the Board of Directors, at any Oh Us
regular meetings. \ majority Oh the 81
rectors shall constitute quorum LOT the
transaction of all business. Inc directors
shall be elected by ballot annually on the
| second Tuesday of January or eacn year
and a majority of the votes cast shali W v
necessary to elect. Each stockholder shall
be entitled. in person or by PROXY u "a "a
vote for every share owned by him. All
elections shall be held under such ruies
and regulations as may be determines ny
the Board of Directors, alIer iHlech Ias
| notice of such election shall nave Deeh
sent to each stakeholder at his or her
last known address. The directors 'hus
elected shall continue in office 1or one
year, or until their successors haSe S SetI
duly elected and have qualified No fail
nre to elect shall be regarded as for-
fixture of this charter. Any vacancy DC,
curing on said board shall be tllleu by
the remaining directors for the uneNplreu
term; the said board shall likewise elect
the additional members in case they Shouiu
determine to increase the number OF the
board Said Board of Directors shall, at
its first meeting, after its election, noml-
nate out of it's number, a president, a
vice president a secretary and treasurer
! Said board shall have the right TO appoint
and dismiss such clerks, managers anu
other employee of the corporation as CON
ditiOns may Justify or the business or the
| corporation may require. The tenure or
office of all the employees OF the corpora-
ton shall be during the pleasure OF tne
Board of Directors.
! ARTICLE Vino sale or other trans
/ fer of stock in this corporation shall be
! valid until and unless the corporation mas
been afforded the opportunity TO purchase
/ said shares of stock ut their BOOK value
the corporation to be given Ten Gays 70
! determine whether it will avail itself OF
/ the offer of the stock.
ARTICLE Vino stakeholder shall
: ever be held liable or responsible 1or the
contracts, faults or debts of said corpora
/ ton, nor SldIl any HltEt
organization have the effect of rendering
! this charter null, or of exposing STOCK
holder to any liability beyond the unpaid
balance, If any, due on the shares owned
by him. -
! ARTICLE yIII.-This act of incorpora-
ton may be changed, modified or altered
| or this corporation mag be dissolved, with
! the assent of the stockholders owning two
| thirds of all the stock of the corporation
at a general meeting convened Tor that
purpose and after at least ten days writ
ten notice of this meeting shall have beeh
given, through mail, addressed TO each
stakeholder, at his last known place Oh
| residence.
| ARTICLE IX.-In case of dissolution by
the expiration of this charter or other
wise the stockholders shall elect three
| liauidators from among their NUMBER, 70
| liGuidate and settle the business and ar
fairs of the company. In case OF death,
or disability of any of said commissioners
| or liouPhatOrs. the survivors or remaining
| liquidators shall appoint a successor &c
| him. The said liquidators shall have full
mower to settle said company's debts, and
divide the remaining money and property
among the stockholders. They shall also
| have mower to meet and act under the by
laws of this corporation and under reg
ulations TO be made by majority or the
said liduidators; to fix the price and pres
/ crihe the terms of sale of said property
and the manner in which the sale may be
made, and to take notes and bonds, Sc
cured by mortgage. or otherwise, for part
of the purchase price for all or any part
Of said property, provided, however that
the rights herein conferred upon the hqu1-
dators may be modified, changed or de-
MED by a majority of the shares OF the
4 AZ ha col