The herald. [volume] (New Orleans, La.) 1905-1953, 1921-08-04
CHARTER.
ion in the State of Louisiana or else

section 4. % GOuslIuNNy PulNAdots A'sA''f |
,r otherwise acquire and own, maintain
md operate steamboats,, sal!lng vessels,
,argeS and other water crafts, piers, DOCKS
n wharSes, and such lines OF tramWay OF
.ailway within the State OF Louisiana or !
elsewhere as may be convenient, necessary /
,r incidental 10 any business or enterprise
If the company, with all necessary SID
tracks, locomotives, cars, depOtS. round !
houses and other equipment necessary 10 |
he operation of saIu piers, docks, wharNcs, |
Jramways, or railway, and the trAIlC |
provided, that this corporation
shall not, without an amendment OF TINS |
,harter. have the right 10 exercise power |
Dt eminent domain.
Section D To carry Oh any other bust |
ness which under the law it may be en-
titled to carry On which may seem 10 the
corporation to be calculated directly or in
directly 10 enectuate the aforesaid objects,
or either of them, or to tdCl!Itat" II in The
of its aforesaid business or
businesses, or any part thereof, or in the
transaction of any other lawful business
that may be calculated directly or Indirect
ly to enhance the value or to render profit
able any of the company properties and
rights, and generally TO hold and exercise
all such incidental powers anu privileges
as relate TO the objects and purposes here
inbefore set forth, or as may be necessary,
useful or convenient for eneCtlnS said Oh
Jects and purposes.
AIIICLE lN-The total authorized cap
tal stock Ot this corporation Is hereby
declared TO be the sum OF Two Million FIVE
hundred Thousand vs. JOv,OOVUOl Dollars,
ana may be increased as provided by law
10 the sum of Three Million rive Hun
ured Thousand (S3,JUU 100000 Dollars. VI
the presently authorized capital OF Two
Million Five Hundred Thousand (S2,JOU,-
UUU.Vvj Dollars, eleven thousand nNs nun
uTed III ,JUU) shares shall be preferred
stock vi the par value Of one hundred
(SlOOUOJ Dollars per share, amounting III
aggregate to one million one hundred mtg
thousand Isl, lJO, UUO.UO) Dollars, aud thlr
teen thousand tve hundred (lS,JOUJ shares
shall be common stock of the par value
OF one hundred (SlUO.OO) Dollars per share
amounting i'll the aggregate to que million
three hundred nifty thousand tSl3JU,UU
Dollars. The said capital stock shall bt
fully paid and non aSSeSSaDle when issued
ana snail be represented by certificates and
shall be personal property. No transfer
OF said capital stock Or shares shall b,
UIndIng upon this corporation unless made
III accordance with its charter and by
laws and recorded Oh the books thereof.
ARTICLE V-The holders of the pre-
ferred stock Of the company are entitled IL
receive, and the company is obligated Il
| pay thereon out Of Its profits or earned
surplus, cumulative dividends ut the raIt
| Oh eight per cent $50 per annum from the
| date OF issue, and no more, payable an
nually Oh the fifteenth day of March, such
| dividends to be payable before any diyi
uend Is paid or set apart on the common
| stock. Should the net profits or earned
surplus accumulated at the time of pay ing
| dividends on said preferred stock DC i'll
| sufficient for such purpose, the unpaid
part of such dividends shall be paid out oil
the future net profits or earned surplus O1
the company, and no dividend shall at any
| time be payable, paid or set apart On tn,
| common stock until all accrued and ac
| cumulated dividends on the preferred
stock shall have been declared ana paid OF
set apart for such purpose Whenever al
| accrued dividends for previous years OF
said preferred stock shall have been paid
| and the dividend payable thereon for tn,
| current dividend period declared and eithel
| paid or sum sufficient to pay same Sc
| apart, dividends on the common stool
| may be declared and paid out of any re
naming net profits or earned surplus.
| The preferred stock is redeemable OF
| any dividend payment day, either i'll who'll
| or in part at the option of the board o
| directors, by the payment thereof Of on,
| hundred (SlOO.OO) Dollars per share, to
| gether with all accrued and unpaid divi
| dends; such redemption to be in such man
ner and in accordance with such rules an,
| regulations as may be provided by tn
| board OF directors OF said company iron
time to time, but the company shall Civ
| thirty 500 days notice to the holders of tn
| stock intended to be redeemed of its in
| tention to redeem such preferred stock
ana upon giving such notice, dividends Of
| such preferred stock shall cease at tn
date fixed for such redemption, unless tn
company shall fail to redeem said stoc
in accordance with the notice; provide
that nothing in this paragraph cOntaine
shall prevent or prohibit the board G
directors from purchasing upon the Ope
market for the purposes of redemption
such preferred stock as the holders there
of may be willing to sell at less than on
hundred ($1OO.OO) Dollars per share an
accrued and unpaid dividends.
Upon any voluntary or involuntary dis
solution or winding up of the corpOratio
or liquidation of its affairs, or upon an
merger of the corporation with any othe
| corporation, the holders Of said preferre
stock shall be entitled to receive and b
paid in full par value Of their shares, an
any and all dividends accrued Qncludin
propOrtionate fractional dividend for an
| expired portion of any dividend period nc
wholly eXpired) and unpaid thereon, out {
, the assets of the corporation, and upon th
payment of the full par value of such pre-
| ferred stock, and of any and all dividend
accrued as aforesaid and unpaid upon sue
preferred stock, any and all assets of I'll
corporation then remaining and ayailab
| for distribution or intended 10 be distr
buted, or the proceeds thereof, shall be di
tributed pro rata among the holders
such common stock, according to the nun
Der of such shares held by each of thel
| respectively.
Shares of the preferred stock and Of tn
common stock shall have equal y0tiI
powers.
ARTICLE VI-The business and affail
of this corporation shall be managed, an
all of the corporate powers thereof, sha
be vested In and exercised by board
: not less than five (5), nor more than SIEVE
q "a directors, to be elected from among i
stOck holders, and a majority OF the dire
tors at any time In office, ekher presel
in person or represented by proxy, inclu'
, ing the president and other officers, sha
| constitute a quorum.
The said board Of directors shall ele
, from among their number a president,
I | vice president, a secretary, a treasurer al
n II general manager. The Office Of treasur
4 and general manager may be combined
: the board and filled by one and the san
|, person. Neither the secretary, nor trea
. urer and general manager need necessari
; | be members of the board Of directors.
The board of directors shall huve 4
4 | full and complete control of the proper
: of this company and they shall condut
n manage and use the same as in their di
' erection they may deem best If not incO
. sistent with the objects Of the compai
: and the welfare Of the same. The sa
Q board of directors shall have the furth
g power to make, alter and annul such b
4 laws, rules and regulations for the COVER
n ment Of this corporation, as they m
think proper.
The board of directors shall have {
:. further power to appoint all agents, cler
l. or employees and fix their salaries a.
}. compensation, with term of Office. with I
n right to dismiss them at pleasure and I
: said board shall have the further right
u fix and determine the salaries of I
several officers herein provided for; pr
N vided, however, that the board. of dire
n tors may delegate such powers to the pre-
s dent or general manager of the cOrpor
Il tion or to an executive committee appoiI
d | ed by said board and consisting OF 4
10 less than three directors.