The herald. [volume] (New Orleans, La.) 1905-1953, 1921-04-07
CHARTER.

/ side tracks, locomotives, cars uePo'Hs
| round houses and other equipment neccs-
! Sary 10 the operation of said vessels. piers.
! docks wharyes, tramwayS or railways anu
traffic thereon; provided that TINS corpora :
! ton shall not, without an amehuhlthI u
| this charter. be common carrier Ut nav
| the right to exercise the power OF eminent
! domain.
Section 6. To enter into, make, perform
| and carry out contracts OF every KIM no'
| contrary to law, with any person hfui, as
! ISOLATION or corporation, and TO carry on
any other business which under the Ia"
! it may be entitled to carry on, which may
| seem to the corporation To be calculated
| directly or Indirectly, 10 effect the aIOit-
! said objects or either of them or TO 1aclll-
/ tate il in the transaction OF It's a1Ore>alH
| business or businesses or any part ln'reoI
| or in the transaction OF any othef ld"IuI
| business that may be calculated directly
| or Indirectly to enhance the value OF or TO
! render profitable, any of the corporation
property and rights. and geneTally 10 AoII
! and exercise all such incidental powers anu
! privileges as relate to the objects ana pur-
/ Doses hereinabove set forth as may be neces-
sary. useful or convenient for eHectlhS
| said object and purposes
! ARTICLE IV.-The authorized capital
| stock of this corporation Is hereby Declared
| to be the sum of twenty-five thousand
| CS2J OOOOOl dollars, which capital STOCK
NAV be increased in the manner provided
! by law to the sum of one hundred thOus-
| and (S1OO,OOO.OO) dollars. The presently
! authorized capital stock of this corporation
| shall be represented by two hundred ana
| fifty shares of the par value of one hun
| bred dollars cash. The capital stock shall
| be represented by certificates ana shaIl De
personal property. No transfer OF saiu
| capital stock shall be binding upon TINS
corporation unless made in accordance with
! its charter and bylaws and recorded on
| the books thereof
ARTICLE V.-The capital stock OF TINS
! ,ornoration shall be fully paid ana non
/ ossessable when issued ana shail NC -
| sueS only for labor done OF serNlC ti -
dered or for property actuai, ;rnos and in
| for cash to be paid at such times an no,
surb amounts and after such notice as nnn!
he determined by the Board Oh Dlree'0'''
ARTICLE yI-All the powers OF thl TINS
oornoration shall be vested and eNerSlse 20
nv a Board OF three directors, eaoH ar
whom shall hold. in his own nnanarJ of
| laast one share of stock. Salu poaIN ~
| directors shall be elected annuailH on ~
! second Monday in March OF each year ,o rp
first election to be held IN tne ye"i ~,
| All such elections shall De U! p".t' snnar
| office of the corporation, uhuer .ne an
| ,,;-;op of two commissioners, 10 De az
/ nOintpd by the Board OF DlrectoIs " -
| the absence of any Commissioners, the -.
dent shall have power 10 10 M snc th elections,
/ appointment and OF all sucn SuCidors
| as we'll as of all meetings OF stocknoluei - >.
| except for the purpose OF hquludi.nI h.
| di.solution or as otherwise requiEtu "!
{ Law fpn
| milling 70 zach stakeholder who appears
as snch on the books of the corporation,
| at his last designated ADDRESS, Ut az haS
/ general delivery at New orleans IL ne ha'
| not designated an address, an announce
meut stating the time and place OF tne
| meNing. Each shareholder shall De eh
| titled TO one vote for each snare VI ~
| standing in his name on the Doohs Vi nv
| company, to be cast in person or d! prVA!
| and a majority of the vote cast shall elec..
| The Board of Directors shall have power
| TO fill all vacancies that may occur III the
Board. Failure TO elect directors on the
day above specified shall not dissolve the
| CORPORATION but the Directors then III Oh
! fee shall remain in office until thelr SUI
| cesSors are elected and quallhed. Due
/ notice of another election shall forthWith
! no given. as above provided. Such notice
! of election shall be continued to be gwen
until an election is held. The board OF
| Directors at their first meeting folloWlns
each annual election shall elect from their
| number n president, yice-president, ana
secretary treasurer. The Boara shall
have power in its discretion. 10 unite lWo
or more offices, and the same 10 conner
uDOn one person and shall have power 10
fix the salaries of all officers and all such
other officers and employees as they deem
| necessary The Board of Directors snail
have power to make and establish as WEI,
as alter and amend. all bylaws, rules, ana
regulations necessary and proper Tor the
support and management of the business
and affairs of said corporation, not NEON
I
also have full power and authority TO bor-
row money, and through the president or
some other duly authorized agent or
agents. TO execute MORTGAGES, Is
sue notes, bonds or other obligations, IN
such amount and on such terms as In
their Judgment may be advantageous; ana
generally to do all things reasonably neces-
sary for the proper carrying on OF tne
business of this corporation, as also TO
| issue and deliver full paid shares of stocks
and bonds or obligations of this corpora
ton, in payment of money borrowed, or
money, labor. or services, and property or
rights actually received by this corpora
ton, as heretofore setforth; and shall have
power to do all such acts and things as
may be necessary to carry out the objects
and purposes for which this corporation Is
organized.
A majority of the directors shall con-
stitute a quorum for the transaction of any
business. At any meeting of the Board,
any Director absent from the meeting may
be represented by any other director. Who
may cast the vote of said absent Director.
according to the written instructions of
said absent Director. The Board of Di-
sectors shall have the power, by vote OF
not less than majority thereof, to sell
| lease, mortgage, by bond mortgage or
otherwise, or to pledge any and all of the
property movable or immovable, belong
ing to the corporation, or to receive in
exchange therefor. money or stocks or
bonds or other obligations of another cor
poration, without referring to the share
holders for the power to do so; and they
may also purchase for stock in this cor
pOration or for cash or on credit, prop
erty of any kind required for any of the
purposes of this corporation, without au-
thOrity of the shareholders.
Until the next general meeting to be
held under this charter on the second
Monday in March, 1922. or until their duly
qualified successors are elected and in
stalled. the Board of Directors shall be
composed of Hugh p. Burbank. Westwego
La. George X. Force, 624 Whitney Cen
trail Bank Building and Morris r. Shaw
1905 Carrollton Avenue. with Hugh p. Bur-
bank as president, with George X. Force
as vice-President and with Morris r.
Shaw as secretary-treasurer.
ARTICLE yII.-This charter may be
amended and the capital stock of this cor
poration may be increased or decreased, or
this corporation may be dissolved in the
method and manner provided by law.
ARTICLE yIII-No stakeholder of this
corporation shall ever be held liable or
responsible 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 expos
ing a stakeholder to any liability than as
above provided.
ARTICLE IX.-No stakeholder may sell
assign or transfer his stock in this cor
poration without giving to the company
through its secretary. thirty days' Drior