The herald., 1921-03-10
CHARTER.

side tracks, locomotives, cars, depots
round houses and other equipment neces
sary to the operation of said vessels piers
docks, wharves, tramways or railways ana
traffic thereon; provided that this corpora
ton shall not, without an amendment Oi
this charter, be common carrier or nave
| the right to exercise the power OF eminent
domain.
Section q. To enter into, make, perform
and carry out contracts OF every kind not
contrary to law, with any person, nrIn as
soCiatiOn or corporation, ana 10 carry Oh
any other business which under the law
ID may be entitled to carry on, winch may
seem to the corporation to he calculated,
directly or indirectly, to effect the aIore-
said objects or either Of them or TO faclll-
tate Ii in the transaction OF It's aforesaid
business or businesses or any part thereof
in the transaction of any other lawlul
business that may be calculated directly
or Indirectly to enhance the value OF or 10
render profitable, any of the corporation ;
property and rights, and generally To hOld
and exercise all such incidental powers ana
privileges as relate to the objects and pur-
poses hercinabOyc set forth rs may be neces-
sary. useful or convenient Tor enccting
said object and purposes.
ARTICLE Iy.-The authorized capital
stock of this corporation is hereby declared
TO be the sum OF twenty-five thousand
may be increased in the manner provided
by law to the sum of one hundred thOus-
and ($IOO.OO0.OO) dollars. The presently
authorized capital stock of this corporation
shall be represented by two hundred ana
NIFTY shares OF the par value OF one hun
drcd dollars each. The capital stock shall
be represented by certificates and shall he
personal property. No transfer of SAID
capital stock shall be binding upon this
corporation unless made in accordance with
its charter and bylaws and recorded Oh
the books thereof.
ARTICLE V-The capital stock of this
corporation shall be fully paid and non
assessable when issued and shall be is
sued only for labor done or services rem
dcred or for property actually received or
for cash to be paid at such times and in
such amounts and after such notice as may
be determined by the Board of Directors.
ARTICLE VI.-All the powers of this
corporation shall be vested aud exercised
by Board of three directors, each OF
whom shall hold, in his own name. at
least one share of stock. Said Board of
Directors shall be elected annually ON the
Second Monday in March of each year the
nrst election To be held in the year lJ22
All such elections shall be by ballot. at the.
ONCE of the corporation, under the super
vision of two commissioners. to be APP
pointed by the Board of Directors and in
the absence OF any commissioner. the PreSi-
dent shall have power to MI the place by
and of all such elections
as well as of all meetings OF stockholders
except for the purpose of liquidation or
dissolution, or as otherwise required by
law, ten days notice shall be given by
mailing TO each stockhOlder who appears
as such on the books of the corporation
at his last designated address, or at the
general delivery at New Orleans, If he has
not designated an address. an announce
Ihtht stating the time and place of the
Each shareholder shall be en-
titled 10 one vote for each share of stock
standing In his name on the books of the
con pahy' TO De cast in person or by proxy.
ana majority of the vote east shall elect
Inc Board of Directors shall have mower
10 NIL all vacancies that may occur in the
bOaru. FIXTURE TO elect directors on the
1ay above specified shall not dissolve the
corporation but the Directors then in of
nee shall remain in Office until their snc
cessors are elected and qualified line
notice or another election shall forthwith
be given, as above provided. Such notice
Dl election Shall be continued to be given
lntli an election is held The Roard of
Directors at their first meeting foIIowinr
-ach annual election shall elect from their
lumoer president, vice president and
! secretary-treasurer. The Board shall
~, az power; IN It's discretion, TO unite two |
Or more offices, and the same to confer |
ipoh one person and shall have power 70
IN the salaries of all officers and all sucb
Ither offcers and employees as they deem
i ieressary. The Board of Directors shall |
ave power 10 make and establish as we'll /
Is aiter and amend. all bylaws rules and
egulaions necessary and proper for the
'uPport and management of the business
'nt ahalrs OF said corporation, not incon-
i i Win It's charter. Said Board shall
llso nave full power and authority TO bor-
wv money, and through the president or
'o o, other duly authorized agent or
ae notes Sons execute sr et,o1 MORTGAGES is
'uch amount and on such terms as In
heir judgment may be advantageous. and
generally TO do all things reasonably nacaS
n, a s;na TOT tee proper carrying on of the
ssue and deliver full paid shares of stooto
M M ponds or obligations of this cornora
Ion, IN payment of money borrowed or
i ihy' labor, or services, and properly or
ion as "hs araty received by this corpora
aom, as heretofore setfOrth and shall have
over 10 do all such acts and tbinos aS |
nay De necessary to carry ont the obiacts |
NJ purposes for which this corporation is
a majority of the directors shall con-
MUTE quorum for the transaction Of onv
nS MS" AT any meeting of the Board.
ny director absent from the meeting may
e represented by any other director who
IA! cast the vote of said absent Djrector
~ etS9rdihg to the written instructions Of
gu gu apseht director. The Board of Di-
OF less than a majority thereof. TO san
u.s. u.s. mortgage, by bond mortgage or
rnnn WISE or 10 pledge any and all of the
= ,optr'y movable or immovable. belong
rAlaiXa In |
Nchange therefor. money or stocIs
illus OF otner obligations of another cor.
i oh, without referring to the share
oiuers Tor the power to do so: and tbev
,ay ALSO purchase for stock i'm This cor |
sa iaIoh or Tor cash or on credit nron. |
10y vi any Kind required for any Of tba
en I poses OF this corporation, without an
norlty of the shareholders. Il"
Ihtii the next general meeting IN no
, uhuer This charter on the second |
naIIs! III March, 1922. or until their dnlv
toiia% successors are elected and in |
l"heu' the Board of Directors shall r. |
Imposed of Hugh p. Burbank westwo oe
a. ,George h. Force. 624 Wbitney 60
,at 6pank bu1lding and Morris n. shaw
~ 'arroiiton Avenue, with Hugh p Rur
INN as president, with George X Force ,
president and with Morris n
ia" as secretary-treasurer
ARTICLE VII.-This cbarter NAV IL
a nenueu ana the capital stock of this cor 9
~ -. NUN may be increased or decreased or !
s corporation may be dissolved In Tho
''"ou ana manner provided by law.
ARTICLE VIII-No stockbo,der n, .,.
- p ponau9h snail ever be held liable or !
spohsibie for the contracts or faul,s 81 D
a as uorporation In any further sum than 7
unpaiu balance on the stock for which 0
nas subscribed: nor shall any moro In y
,nanty IN organization have the effect % $
moering This charter null or OF exnoS b
80, stockhoider to any liability than as ;
,, IiCLE IX.-No stakeholder may sal, I
s,sn or transfer his stock In This COZ | N
'.a1h without giving to the 'company S
,Iiusn its secretary. thirty days' nrjor |,
n o,hn Mrning or such intentions. and G