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

such bylaws, rules anu rtSui"tts -. 80
the management and regulation OF the al
fairs of the corporation as may De heces-
sary, proper or convenient
ARTICLE 1.-THE dOmicile OF TINS cor
poration shall be in the Parish OF orleanS,
State of Louisiana, and all c'tatl0hs VI
other legal process shall be served upon
the president or in his absence or inablllt!
TO act upon the vice-president, or IN the
absence or inability of both of said Officers
to act, upon the secretary.
ARTICLE III-The objects and purposes
for which this corporation is organized
and tbp nature of the business to be con
Quoted by it, are hereby declared 10 De
To buy and sell scrap iron, metals ana
second hand machinery of all kinds.
ARTICLE IV-The capital stock OF TINS
corporation is hereby fixed at the sum OF
$50 900 OOl Ten Thousand Dollars, DIVIDED
into and represented by 100 shares OF the
par value of $4,000 each, all of when
shall be common stock. Inc amount ol
the capital stock may be increased 10 the
sum of Thirty Thousand (S3O,OW.OO) when
duIy authorized by the stockholders. Said
stock shall be paid for either IN cash OF
property actually received by the corpora
ton. All the stock of this corporation
shall be fully paid and nOn-aSSeSsaDie
No transfer of stock shall be binding upon
the corporation. unless made upon us
books and all certificates of stock snail
be signed by such officers as the law may
require. No stakeholder shall have the
part thereof to anyone who is not stock
holder of said corporation, unless he snail
have first offered the same TO the other
stockholders at the book value thereof as
fixed by the board of directors, allowing
10 days for the acceptance or rejection OF
said offer. after which delay only. If the
offer is not accepted, the stockhOlder de-
string to sell his shares, may sell the
same to anyone not a stakeholder. This
provision shall be printed or stamped on
the face or in the body of all certificates
of stock.
ARTICLE V-All of the corporate pow
erS of this corporation, shall be vested In
and the maintenance and control of its az
fairs, shall be exercised by, board of
directors. composed of three stockholders,
each of whom shall own at least one share
of stock. Said board of directors shall be
elected annually at the general meeting
of the stockholders called for that pur-
pose, on the 18th day of September Of
each year, after due notice given in ac-
cordance with the laws of Louisiana, and
each stakeholder shall be entitled to one
vote for each share of stock standing in
his name, on the books of the Company.
Said votes shall be east in person or by
proxy, and a majority of votes cast shall
elect. Said board of directors shall have
the power to fill all vacancies, which may
occur on the board, even though no quo
rum remain at the time such vacancies are
to be filled. Failure to elect directors on
the day above specified shall not dissolve
office. shall remain in office until their
successors are elected and qualified. The
board shall elect from their members a
president vice-president, a secretary and
treasurer. Any director absent from a
meeting may be represented by any other
director by written proxy. who may cast
the vote of the absent director. The of
fees of ice-president and secretary, or
secretary and treasurer, may be combined
into one, as the board of directors may
determine.
The board of directors shall have the
authority to make and establish, as well as
alter and amend. all bylaws, rules and
regulations for the proper management
and conduct of the business and affairs of
the corporation, and shall have power to
authorize the borrowing of money, and the
issuing of notes or other evidences of in
debtedness, and the execution of mort
cages, and generally to do all things neces-
sary or convenient for the proper carrying
on of the business of the corporation.
The board of directors. or such officer
or manager as IL may designate, shall ap-
point such managers, clerks and other EN-
ployees of said corporation, as may be
necessary for the business. and shall dis
miss the same; and the tenure of office
and employment of all of such managers,
clerks and employees shall be during the
pleasure of said board. They shall also
fix the salary of all officers, managers
clerks, and employees.
holders for the election of directors, to be
held on the 18th day of September 1921,
or until their dulyequalified successors are
elected and installed, the board of direc-
tors shall be composed of: Charles Turk
whose post office address is 1135 Philip
street, New Orleans, La; Edwin Turk.
whose post office address is 4Sl6 Dryades
street, New Orleans, La; and Benjamin S.
Saratoga street. New Orleans La.
ARTICLE VIM Stopkholda sinh
scriber for stock shall ever be held liable
for the contracts, faults or debts of this
corporation in any further sum than the
unpaid balance. if any, due the corpora
uon on the stock for which he has sub
scribed nor shall any stakeholder ever be
held liable for such contracts faults or
debts In any further sum than the unpaid
balance. If any, on the stock owned by him
nor shall any mere informality in organi-
cation have the effect of rendering this
charter null or of rendering any sub
scriber liable beyond the unpaid amount if
any, remaining due on his stock.
ARTICLE vII-An stockholders meet
ings shall be held in accordance with the
laws of the State of Louisiana, and this
charter may be amended or the corpora
ton dissolved as provided by the laws of
this State.
ARTICLE yIII-In the event of the
liquidation or dissolution of this corpora
ton, the stockholders shall elect three
a meeting convened for that purpose in
accordance with the laws of the State.
Said liquidatOrs shall have the authority
to wind up the business and affairs of this
corporation. In the event of the death or
resignation of any of said liquidators, the
survivors shall appoint a stakeholder as
successor to him.
ARTICLE IX-The subscribers hereto
have respectively written opposite their
names, the amount of stock subscribed by
them to this corporation, so that this Act
of Incorporation may also serve as the
original subscription list of the company,
and they have stated their post office ad-
dresses, so as to conform with Act 267 of
the General Assembly of the State of
Louisiana, of 1914.
Thus done and passed. In my oiTfce at
the City of New Orleans on the day, month
and year herein first above written in the
presence of James Wilkinson and Hugh
Nj. Wilkinson competent witnesses, who
hereunto sign their names with said APP
pearers and me, notary, after due reading
of the whole.
ORIGINAL SIGNED:
Chas. Turk, 1135 Philip St., New Orleans.
La, Seventy -four (74) shares, 81 400; Ed
win c. Turk. 1903 Dryades st. New Orleans.
La, Twenty-Five (25) shares $500: BEN
jamin s. Fendig, 4917 Saratoga st. New
Orleans, La, one ~ share. 800
witnesses: Hugh NJ. Wilkinson, James
Wilkinson.
A. J. PETERS
Notary Public.
/, the undersigned Recorder of Mort
cages, In and for the Parish of Orleans.
state OF Louisiana, do hereby certify that
the above and foregoing Act of Incorpora.
ton, of the Charles Turk Co.. Inc. was
this day duly recorded in my office. in
Book 1883 Folio 6O7.
New Orleans June 9th, 1921.