The herald., 1921-08-25
CHARTER.

president; c. s. Williams, secretary; c. u.
hCmper. treasurer ana general manager
said board of directors shall serve until
the rrSt netting OF the stol EhUlders for the
election of directors, or until their success
sors are elected. qualified and installed.
ARTICLE VII on The iirst MUEuSy in
March, 1922, and annually thereafter on the
nr>J MONDAY Of Mdrln ia each year, n
meeting of the stockholders Of this cor
puTatIun shall be held at its uoMIcIiC Tor
the purpose Of eleCtiug directors for the
ensuing year, and AT such meetings III,
stockholders shall have N" right II
cumulative voting in the election Of dirsC
tors and shall have the right OF vlc,tlug
the nrmbcr of directors then in Office. ANA
II there he not - many as seven directors
then in office, shall have the right of elect
ing additional directors 80 long as the full
number Of directors elected does not eN-
coed seven. A failure from any cause
whatsoever to hold the annual meeting OF
stockholders, or the failure TO elect direC-
tors thcreat, shall not dissolve this cor
pOratiOn. but the directors aud on, crS
then in office shall remain in Office until
their Successors shall have been rcsV,-,-
lively duly chosen elected, quaIined and
installed.
ARTICLE IX-The capital stock Of thi,
corporation shall not be issued except Tor
labor done, or money or property actually
received, aud II is hereby declared that the
stock subscribed for herein 10y the Ouk
BIuH Planting ami Manufacturing Com
paHy, Ltd, and the STERLING sugar ~
Hallway Company, Ltd, shall bee paid for
IN property, as follows.
Ia payment OF the subscription Of one
thousand three hundred and NIFTY tl5JUi
shares OF the preferred stock of this cor
pUratlOu and one thousand four hundred
aud ninety eight O4gNI shares OF the COM
mon capital stock OF said corporation sub
Scrib"d toy the Oak BluH Planting ~
manufacturing Company. Ltd, the said
ffFtFr A FT
pHuN. It'd, agrees 10 sell ana this said
corporation agrees To buy and l. hereby
authorized to acquire. 10 receive ANA take
title To, Tree Of any aud all circumstances,
certain sugar plantations, properties ana
Improvements thereon, and apPurtcuduc,N
thereof, etc, an accurate, detailed and
IteWIZcd description OF which said prop
vIty, real. personal and mixed to hc ay-
quircd and purchased by this corporation
IN exchange for said stock as to amount
location, extent, character ana state of i'm
PruNrncut, Is hereto attached. made part
hereof ana marked Exhibit "a, and the
parties named herein as the board OF III
TcCtOrS Ui TINS corporation do hereby de-
... ,.W they have examined said prop
crty, and do hereby apprdIse the value
thereof at not less tnau TWO hundred and
eighty four Thousand, eight hundred tS-Nf,-
>Uu.vOD Dollars, ana the president OF this
corporation is hereby authorized to az
quIre said property on behalf Of this cor
pOratiOu from the said Oak Blum Planting
" Manufacturing Company, Ltd, aHd issue
or cause TO be issued in payment thereof.
one thousand three hundred and hIty
tl5IOI shares OF full paid preferred stock
Of this corporation and one thousand four
hundred and ninety-vsiht (li9SJ shares OF
the full paid common capital stock of said
corporation.
Ia payment OF the subscription of five
thousand hive hundred ana hfty-three
l11'jE shares of the preferred capital stock
of this corporation and six thousand live
mn a
the common capital stock of this corpora
lion subscribed for by the Sterling Sugar
~ Railway Company, Ltd, the said Sterl-
ing sugar X Railway Company, Ltd,
10 sell and this corporation
agrees to buy and is hereby authorized TO
acquire. receive and take title to. free OF
any and all euCumDrauCes, Il certain sugar
factory and refinery, together with certain
sugar plantations, properties and improve
mcnts thereon and appurtenanceS thereof,
etc, an accurate, detailed and itcmiZed
description of which said property as to
amount, location, extent, character and
state OF improvement is hereto attached,
made part here of and marked Exhibit
b. and the parties named herein as the
board of directors of this corporation do
hereby declare that they have examined
SAID property and do hereby appraise the
value thereof at not less than one million
two hundred and fourteen thousand six
hundred (Sl,2l4 10000 Dollars, and the
president of this corporation is authorized
TO acquire said property on behalf of this
corporation from the said Sterling Sugar
n Railway Company, Ltd, and issue or
cause to be issued in payment therefor
ave thousand five hundred and fifty rec
,hSI3J shares of the full paid preferred
capital stock of this corporation and six
thousand five hundred and ninety Tree
> shares of the fulpa i'd common capt.
tai stock of this corporation.
ARTICLE S-This charter may be
amended, and the capital stock of this
ha 4.
or this corporation may be dissolved in
the method and manner provided by law.
ARTICLE XI-No stakeholder of this
corporation shall ever be held liable or re-
sponsible for the contracts or faults of
this corporation in any further sum than
the unpaid balance on the stock for which
he has subscribed, nor shall any mere in
formality in organization have the effect
OF rendering this charter null or of ex-
posing stakeholder to any liability other
than as above provided.
Thus done and passed IN my office at
the City of New Orleans, Louisiana. on the
day. month and year first hereinabove
written, in the presence Of X. C.. Milling
and Joseph +. Hart, competent witnesses,
who hereunto sign their names with said
sppearers and me, notary, after due read
ing of the whole.
Oak Bluff Planting and Manufacturing
Co. Ltd, S. T. McCardell, president.
Franklin. La, 1850 preferred. l49S com
mon; Steering Sugars & Ry. Co, ltd, by
r. Il. Williams, president, New Orleans
Ia, 1858 preferred, 1898 common; c. ID.
kemper, Franklin, La. / common; +. b.
Williams, New Orleans, La; / common:
Frederick Wilbert, Plaquemine. La. /
common; j. II. McCardell, Franklin, La.
common; G. s. Williams, New Orleans,
La, 1 common; J. II. Murphy. by C. d.
kemper. proxy, New Orleans, La, 1 COM
mon.
Witnesses: r. C. Milling, Joseph f.
Hart.
EUGENE d. SAUNDERS,
Notary Public.
/, the undersigned Recorder of Mort
cages, in and for the Parish of Orleans
State of Louisiana, hereby certify that the
above and foregoing Act of Incorporation
of the Sterling Sugars, Inc. was this day
recorded in my office in Book 1858, folio
636.
New Orleans, June Goth, 1921.
ROBT SCOTT.
Deputy Recorder.
a true copy:
New Orleans, La, July Is. 1921.
EUGENE ID. SAUNDERS,
tSEAL) Notary Public.
July 2l-Aug. 25