The herald., 1921-08-18
CHARTER

tary) of the corporation, the holders Oh the
preferred stock shall De ehtitleu " oe
naid out of any assets, up to the par
amount of their shares, and after such pa!
ment to the holders OF the preferred S.oSA
the remaining assets and funds shall pe
divided and paid to the holders Oh the coiil-
mon stock, according 10 theiF fespee'A''
shares.
Tho common stock shall have the COM
nIete and exclusive control of the corpora
ton and the exclusive right 10 Note AZ
stockholders meetings, as shall De herelh
after provided.
All transfers of stock shall be made on
the books of the corporation by SURRENDER
of the original certificate properly endorseu
for cancellation by the stockholders ID
whose favor said stock is issued, or Dy
his duly authorized agent. Inc eap ,iisl
stock of this corporation may, on comply
ing with the requirements OF law, De IN
crease up to One hundred thousand dol
lars, or any part thereof.
The preferred stock may be redeemed OF
retired, in whole or in part at the optlon
of the Company, at any dividend perlou,
at Ten Per Cent above par, plus any earned
dividend IL retired in part, the same shaA
be by lot.
of this corporation shall be vested in and
exercised by Board of Directors, to be
composed of three of the stockholders OF
the common stock, majority Oh whom
shall constitute quorum. The BOARD OF
Tuesday after the First Monday IN jan
usry in each year at meeting OF the
stockholders of the common stock held oD
that day. All elections shall be by Dallot
and each stakeholder of common stock
shall be entitled to one vote for each snare
of stock standing in his name on the books
of the corporation, this vote TO be cast
in person or by written proxy. Failure
to elect a Board of Directors, as herein
| provided, shall not work forfeiture OF
| this Charter but the old Board of Direc-
| tors shall remain in Office until their sue
cessors are duly elected and quaiined.
| Any Director who is not able to attend
any meeting Of the Board has the right to
appoint, in writing, another member Of the
| Board to act as his proxy. The onicers OF
this corporation shall be a President, .
| Secretary and a Treasurer; the Office oil
| ce-President may be created by action
OF the Board Of Directors; any two of the
| officers may be combined and held by one
person. The first Board Of Directors to
| serve until the Tuesday after the first Mon
/ day in January, 1923, or until their sue
| cessors are elected and qualified. shall con
sist of Mrs. Rosalie Nixon, whose post
office address is No. 321S st. Charles
! avenue, New Orleans, La; Miss LYDIA Il.
Belden, whose postoffice address is No
1112 First street, New Orleans, La and
| Mr.. Marcus b. Buford, whose postoffice
address is No. 2121 Peters avenue. New
Orleans, La, with the said Mrs. RosaliS
Nixon as President and Treasurer, and the
said Miss LYDIA l.. Belden as Secretary.
Any vacancy in the Board of Directors
may be filled by the remaining Directors
of said Board from among the stockholders
of the common stock. The Board of Di-
rectors shall have the power and authority
to sell, mortgage, hypothecate and pledge
any and all property owned by the corpor-
alton, either in whole or in part; to pur
chase, lease or otherwise acquire any prop
erty for the corporation; to make loans
borrow money, issue notes and other obi
cations the same in any manner permitted
nv law I'm hall hov nd IL.
all the powers conferred by Act No. 26i
of 1914.
ARTICLE VINO stakeholder Of THU
corporation shall ever be held liable or re
sponsible for the contracts or faults Of thu
corporation in any further sum than tn,
unpaid balance due to the corporation oil
shares subscribed by him; nor shall an!
mere informaiity in organization have tn
erect OF rendering this charter null or o
exposing a stakeholder to any liability be
, yond the amount of his stock.
ARTICLE VII-This act of incorporation
may be amended, altered or modified, o
the corporation dissolved at any time b,
, complying with the laws of this State.
ARTICLE -VIII-At the expiration o
) this charter, or the earlier dissolution o
TINS corporation. its affairs shall be liqui
dated by two commissioners to be electe
by the stockholders of common stock, il
accordance with law, and said commission
9 ers are hereby vested with full power an
authority to sell any and all assets an
5 property, real, personal and mixed, of thi
corporation, and to convey full and com
/, piete title thereto, and to do and perforI
y all, every and any act, matter or thin
5 essential or necessary to a full and com
0 plete liquidation of this corporation an
!, TO distribute the proceeds. IL any. In I'll
y event Of the death, disability or resignatio
s OF either OF said commissioners, the SUI
vivor shall continue to act and be Dkewis
i invested with all the powers herein meu
| toned.
Thus done and signed, at my office /
s the City Of New Orleans. on the da,
. month and year first before written,
: the presence Of Messieurs Frank T. Doyl
: ana Charles Leblanc, competent witnesses
2 residing In this parish, who have signe
J these presents, together with said appear
ers, ana me, notary, after due reading Q
. Original signed: Rosahe Nixon, Lyd
I L. Belden, II. B. Buford. Chas- LeIslan,
: Frank 7. Doyle.