The herald., 1921-05-12
CHARTER.

TO sell his stock, or any part or portion
thereof, he shall first offer same to the re-
stockholders, in proportion TO
their respective holdings, at his BOOK
value. This offer is to be made to appear
by letter addressed to each stockhClder,
at his last known address, giving thirty
days option. At the expiration OF which .
time the stakeholder desiring to sell his
stock shall be at liberty to do so at what
ever price and TO whom he may please
The capital stock Of this corporation may
be increased to one hundred thousand
$500 OOO. OO) dollars. and be divided into
four hundred (iO0) shares, or forty thou /
sand $40 900 OO) dollars of preferred stock, /
and six thousand $4,000 shares or sixty
thousand (S60,000.OOl dollars Of the com
mon stock.
ARTICLE VAN the corporate powers
Of this corporation shall be vested in and
exercised by a Board of Directors COM
posed of not more than seven, and not less
than five, Directors, each Of whom snail
own in his own right; on the DOCKS OF
this corporation, not less than ten I'M
pledged shares of preferred stock, ma
jority of whom shall constitute quorum
Members of the Board of Directors shall
be elected for term OF one year at the
annual meeting of the company, which
shall be held on the tenth legal day OF
April of each year. The Board OF Dlrec-
tors at their first meeting following each
annual election, shall elect from among
their number a President, Vice Presl-
dent, and Secretary Treasurer, and such
other officers as the Board of Directors
shall deem necessary. The Board OF Di-
rectors shall have the authority to unite
two or more Offices in one and the same
person. 1t shall also have the power and
authority to fix the salaries of officers and
other employees, and terms of employment;
to make and establish, as well as 10
alter and amend, such bylaws, rules and
regulations as may be necessary or proper
/ for the support and management Of the
/ business and affairs of this corporation !;
| to borrow money. and through the Presl-
/ dent or some other duly authorized agent
| or agents to execute mortgages, issue
notes. pledges, bonds or other obligations
! in such amounts, and on such terms and
conditions, as in his or their Judgment
| may be beneficial Or advantageous to this
| corporation; and. generally, to do all
! other acts or things as may be necessary,
| proper or convenient to carry out the
objects and purposes of this corporation
! and also to issue and deliver full paid
shares of stock, bonds or obligations OF
said corporation in payment of money bor-
rowed. or for labor, property and good
will, as hereinaboye set forth. All cleo
lions shall be by ballot, and any Director
absent from any meeting may be repre-
scented by written proxy.
The Board of Directors shall have the
right by unanimous vote, TO sell, lease
mortgage by bond or otherwise, or tC
pledge any or all OF the property OF TINS
corporation, and to receive in exchange
therefor money or stock or bonds or other
obligations of an individual, firm or Other
corporation. without referring to the
shareholders for the right or authority tC
do so, and they may also purchase fol
stock in this Company property of any
kind required for the purpose of this cor
poration. upon complying with Section
of Act 267 of 1914, as above recited.
The following named persons shall con
stitute the first Board of Directors OF thl
. corporation, to-wit: Camire j. Malbor
Ough, 1907 Ursuline street. New Orleans
!, La; Mumford Michel. 14l4 Robertson
street. New Orleans. La; Robert j. He
bert, POS Columbus street New Orleans
! La; Stanislaus j. Hebert, 2105 Columbu
, street. New Orleans, La; Albert j.
/ Hebert. r. +. D., No. 2, Jefferson Parish
La; with Camire J. Marlborough a
3 President. Robert J. Hebert Vice Presi
dent, and Albert J. C. Hebert Secretary
Treasurer, and these officers and direc
tors shall hold office until the tenth lega
day of April. 1922. or until their success
, sors are duly elected. Thereafter the d.
E rectors shall be elected annually on tn
: tenth legal day of April of each year.
r majority of preferred stock shall be neces
I sary to elect. Failure to hold an electio
$ for directors as above recited shall nc
I work a forfeiture of this charter, but tn
. old Board of Directors shall remain /
q office until their successors are dul
: elected and qualified.
|, ARTICLE VI-The Board Of Director
r shall hold regular meetings at such time
: as shall be fixed in the bylaws of TIL
d corporation. but the President may ca
a special meetings of the Board of Director
at such times as he may deem advisabl
: and he shall be required to call sue
: special meetings at the request of a men
$ Der of the Board of Directors. Three day
n written notice of such special meeting sha
q be given to the directors unless a waive
!, of such notice is signed by the director
Any vacancy occurring in the Board
Directors. either from death, resignatiC
, or inability to serve, shall be filled by Il
= remaining directors it's next regul;
'ss meeting after such vacancy shall ha'
- occurred.
ARTICLE yII.-The stock of this co
d poration may be transferred. provid,
n. such transfers SHAH be recorded on q
n books of this corporation. before II shf
in be required to recognize the transfer,
to the new holder of the stock.
al ARTICLE yIII.-This charter may
to modified or altered, the capital stock |
to creased or decreased, or the corporate
u may be dissolved with the assent Of tw
r thirds Of the preferred capital stock pre-
Id ent or represented at any special meetil
p of the preferred stockholders held for tn
as purpose, after prior notice in writing
n each stakeholder. mailed to him at his Ia
C. known address, all in accordance with I
1s terms Of Act 267 of 1914.
TX ARTICLE IX.-At the expiration Of Il
to charter. or its earlier dissolution from a
is cause, its affairs shall be liquidated by o
~ or more commissioners or liquidators
r. be elected by the preferred stockholde
nd all of whom shall hold preferred stock
this corporation, and said liquidators q
ia hereby vested with full power and a
nv thority to liquidate the affairs Of this CO
70 poration. with full power to act under I
of terms of Sections 30 Of Act 267 of 1914
M ARTICLE X.-The appearers hereby
N, clared that thev have subscribed to
0l following number Of shares of the comm
nd and preferred stock Of this corporate
to-wit:
ID Camire J. Marlborough. 1907 Ursuli
street, New Orleans, La, twenty sew
cd (20 shares preferred stock, ten &
he shares common stock.
bv street. New Orleans. La, twelve {
~ shares preferred stock. ten shares {
he shares common stock.
az Robert J. Hebert, 2105 Columbus sire
ok New Orleans. La, twenty-one (2I sha
he preferred stock, ten Qo) shares comm
m. stock.
ds Stanislaus J. Hebert, 2105 COUNT
~ street. New Orleans, La, ten (10) sha
ed preferred stock, ten (10) shares comm
or stock.
nj. mt Albert J; c; Hebert, R. F. D.. No:
or sixty 060) shares common stock; ten
I'D shares preferred stock.
nee The total amount of subscribed st,
Ia as herein set forth is the sum of ten tn
To- sand (s1O.OO0.00) dollars, divided as
ata lows: Eighty (S0) shares preferred ST
ri or eight thousand ($S,0O000) dollars,
cts two hundred 1000 shares of two thousi
tho (Se 0O0OO) dollars of common stock, VIII
IN is authorized to be fully paid and n
assessable for cash or in exchange
ock property. or both, according to law.