The herald. [volume] (New Orleans, La.) 1905-1953, 1921-11-17
CHARTER.

twenty-one thousand tS2l,OOOOO) dollars, |
divided into two hundred and ten shares
of the par value of one hundred (sl0o.c0l |
each, which stock shall be paid for in /
cash at such times and in such amounts |
as may be determined upon by the board |
of directors. or may be issued at not less |
than par for property purchase by, or |
for services rendered to the corporation. /
All shares OF stock shall he full paid !
and worcestershire No transfer OF stock |
shall be binding upon said corporation |
unless made upon the books of the cor |
poration. and all certificates of stock |
shall be signed by such officers as may be !
designated by the board OF directors.
No stakeholder shall sell or in any man
ner dispose of his stock in said corpora !
ton. without having first given thirty |
days written notice TO the corporation. |
through its board OF directors, of such
intention to sell or dispose of the same.
so that the other stockholders shall have
the first privilege of purchasing the same
at its book value, properly ascertained,
after which thirty days notice said
stock may be sold or disposed Of in any
manner.
The said corporation shall at once be-
come and be going concern and shall
Immediately commence business.
The said capital stock may be increased
from time to time to any amount not eN-
ceeding fifty thousand dollars,-such in
crcases 10 he made as provided By law.
Of said corporation shall be vested IN,
and the management and control OF it's
affairs shall be exercised by a board Of
directors. composed of not less than
three, nor more than five stockholders.
Each director shall own at least one
share of stock and shall be elected an
nually, by the stockholders. by ballot.
on the Thursday, following the first Mon
day in January OF each year, the first
election to be held In 1923.
Written notice Of each election. de-
livered personally or by mail. shall be
given to each stakeholder, addressed TO
him at his last known place OF residence,
! as shown on the books Of the corpora
ton. said notice to be given at least If
| teen days before each election. and all
elections shall be held under such rules
| and regulations as may be fixed by the
| board of directors; provided that each
| stakeholder shall be entitled. in person
or by written proxy, to one vote for every
share of stock owned by him, and that a
| maj ority OF such votes cast at each cleo
| ton shall elect the board.
| The directors thus elected shall con-
| tinue in Office fer one year, or until their
| successors shall have been duly elected
| and qualified. In case OF any failure to
failure shall not forfeit this charter. but
an election shall be held as soon as may
be practicable after notice as above pro-
| vided.
\
meeting after each election, shall elect
from its number, president and a vice
president and shall also elect a secretary
| and treasurer, who may be members
OF the board or not, as the directors see
fit; and both of said offices may be held
by one and the same person, as secretary
and treasurer. may be determined by
the board Said board shall likewise elect
the additional member or members in
case they should determine to increase
! NJ I'd Of ac
above provided.
A majority Of the directors shall con-
stitute quorum for the transaction Of al
business. and any vacancy occurring or
said board shall be filled by the remain
ing directors for the unexpired term,
The said board or such officer or man
ager as II may designate, shall appoint
, such officers managers, clerks and othel
employees Of said corporation as may b,
, necessary for its business and shall dis
. miss the same; and the tenure OF offic,
) and employment OF all officers, managers
, clerks and employees shall be during tn,
, pleasure Of said board
> The said board shall have the RICH
, and power to buy, sell, improve. contract
lease, borrow money, issue bonds and ex
r ecute mortgages, and, in general TO ex
ercise all the powers Of the corporation
! as well as TO carry out its objects ant
purposes,-all without reference to o
$ authorization by the stockholders.
!. From time to time said board ma
: adopt rules, regulations, and bylaws TO
. the management and control of the bust
Q ness and affairs of said corporation, and
: in fits discretion, may annul change an
s modify the same.
. | ARTICLE VINO subscriber hereto o
stakeholder of the corporation shall eve
be held liable or responsible for the con
2 tracts. faults or debts of said corpora
= ton; nor shall any mere infOrmality !
q: the organization have the effect OF render
: ing this charter null, or of exposing an
= subscriber or stakeholder to any liabilit
beyond the unpaid balance, if any, du
!. on the shares subscribed for or owne
Q by him.
y ARTICLE VII-This act Of incorporate
= may be changed, modified, or altered, o
: said corporation may be dissolved wit
g the assent Of the holders of two-third
- | of the stock of the corporation, who's
" owners are present and represented at
T. general meeting of the holders of stool
after at least thirty days written motto
of such meeting has been given as pro
vided in Article Y of this charter.
Any change proposed or made in n
. ference to the capital stock or objec
, and purposes of this corporation sha
;, be made in accordance with the laws {
a the State of Louisiana regulating or Pre-
viding for such change.
Whenever the corporation may be di
, solved whether by limitation or othe
wise, its affairs shall be liquidated :
three liquidatOrs, to be chosen by Il
' stockholders at general meeting
| stockholders. convened for such purpos
- of which meeting notice shall be given
: above provided. and a majority in amour
Of the capital stock of said corporatio
= represented at such meeting shall be r
P quisite to elect. In case Of the death
= disability of any Of said liquidators. Il
IT survivors, or the remaining liquidator
ii shall appoint a successor to such liquid
n tor. Said liQuidators, are hereby giv'
G. full power, either by court or law pr
II ceedings, or without such proceeding
ID as they shall elect. TO collect all amour
4 due the corporation, sell or otherwf
Iv dispose Of its assets. pay its debts ar
SO liabilities. and compromise and sett
= all disputed questions and matters: al
ps shall have and exercise all other powe
70 necessary and usual to fully and final
o. settle, wind up and iiquidate all the bus
ID ness and affairs OF the corporation, al
70 distribute it's net assets or funds amor
ID its stockholders in accordance with the
N respective rights.
or ARTICLE VIII-The first board of
~ rectOrs of this corporation shall consist
he George II. Thomas, 1926 First street, Ne
r Orleans, La: Samuel p. Schwing. 5
l. Pine street, New Orleans. La: J. Morl
Carroll. 1919 First street, New OrleaI
is La: which said board, with said Geor
Q. Fl. Thomas, as president, said ]. Mori
III Carroll. as vice-president, and said Samu
es p. Schwing, as secretary treasurer, sh
A. hold Office until the election TO be held
m the Thursday, following the first Mond
Is in January, 1928 or until their successo
ne shall have been duly elected and sh
r. have and exercise all the powers a