The herald. [volume] (New Orleans, La.) 1905-1953, 1921-06-09
CHARTER.

to sell his stock, or any part or portion
thereof he shall first offer same to the re-
\ naming stockholders, in proportion to
their respective holdings, at his book
value. This offer is to be made to appear
by letter addressed to each stakeholder,
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
lSlOOOOOOO) dollars, and be divided into
sand $40 900 00) dollars of preferred stock,
and six thousand 10000 shares or sixty
thousand tS60,000.00) dollars Of the COM
mon stock.
ARTICLE V.-All 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 shall
| own in his own right, on the books of
| this corporation, not less than ten IN
! pledged shares of preferred stock, a ma
| Jority Of whom shall constitute a quorum.
Members u the Board of Directors shall
be elected for term of one year at the
annual meeting of the company, which
snail be held on the tenth legal day of
April of each year. The Board of Direc-
tors at their first meeting following each
annual election, shall elect from among
their number a President, a Vice Presi-
other officers as the Board of Directors
shall deem necessary. The Board of Di-
rcctors 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 to
after 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 Presi- |
dent or some other duly authorized agent
OF 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 |
other acts or things as may be necessary
proper or convenient to carry out the /
objects and purposes of this corporation;
ana also to issue and deliver full-paid |
shares or stock, bonds or obligations of |
said corporation in payment of money Dor
rowed, or for labor, property and good
Will as hereinabOve 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 snail have the
right by unanimous vote, TO sell, lease,
mortgage by bond or otherwise. or TO
pledge any or all of the property of this
corporation, and to receive in exchange
obligations of an individual, firm or other
corporation, without referring to the
shareholders for the right or authority to
40 So and they may also purchase for
kind required for the purpose of this cor.
poration, upon complying with Section 3
ot Act 26I Of 1914, as above recited.
The Following named persons shall con-
'tltute the first Board Of Directors Of this
,DTS InS1 r torWit; Camre j. MalbOr-
La; Mumford Michel. l414 Robertson
street, New Orleans, La; Robert ]. He
1ert' ZlOo Columbus street, New Orleans,
a. stanisiaus J. Hebert, 2lo5 Columbus
ieoert, X. F. d., No. 2, Jefferson Parish, &
"a; with Camire j. Marlborough as
resident, Robert J. Hebert Vice-Presi-
rena, ana Albert J. c. Hebert Secretary
ors shall hold office until the tenth legal ,
lay or April, 1922, or until their success !
ors are duly elected. Thereafter the di. :
e.,S snal De elected annually on the :
majority Of preferred stock shall be neces- :
airy to elect. Failure to hold an election 5
or directors as above recited shall not .
"a A IorIeiture OF this charter, but the :,
Ia Board Of Directors shall remain in Z
nice until their successors are duIy n
lected and qualified. "
ARTICLE VI.-The Board of Directors o.
hall hold regular meetings at such times q
snai De liked in the bylaws of this r
but the President NAV call .,
peclal meetings of the Board of Directors y
sueh times as he may deem advisable :,
nd ne shall be required to cali sucb n
'eclai meetings at the request of a mem Q,
er OF the Board of Directors Three DAYS .
rltten notice of such special meeting shall y
given TO the directors unless a waiver n
such notice is signed by the directors -
ny vacancy occurring in the Board of 81
irectors, either from death. resipnetion a.
inability to serve, shall be filled by the a.
manning directors at its next regular -
curred. "'e vi
, ARTICLE vII;-The stock of this cor vi
ch transfers shall be recorded on the sa
'oks OF this corporation, before IL shall hC
required to recognize the transfer. or
9 new holder Of the stock
ARTICLE vIII-This charter NAV he a on
oulnsd or altered, the capital stock in Of
easeu or decreased, or the corporation 90
sy De dissolved with the assent of two ~
rus OF the preferred capital stock pres ~,
or represented at any special meeting IN
r une preferred stockholders held for that re-
rpose, AFTER prior notice in writing TO do
en- stockholder, mailed to him at his last o oe
own ADDRESS. all in accordance with tba ~
ms n 30 Of Act 2e7 of 1914 avn INC Tn IN
= hliCLE Kat the expiration of this ="
arter, or its earlier dissolution from anv
use, lts affairs shall be liquidated by one pa
more commissioners or liquidators TO MI
elected by the preferred stockboIdars d.
Oh whom shall hold preferred stock in Ne
y corporation, and said liquidators arc Pr
reDy vested with full power and an ms
Drity TO liqufdate the affairs of this cor sh
ration. with full power to act under the ID:
ms OF Sections 80 Of Act 287 of 1914 ele
ARTICLE X.-The appearers hereby de- %. De
req mat thew have subscribed TO the ~ ~
lowing number of shares of the common w
preferred stock of this Corporation n.
'amire J. Marlborough. 1907 Ursu,,ne an
eet, New Orleans, la. twentytSaran en-
} shares preferred stock. fen f1O1 ga
ires common stock. Wv ch'
dumford A; Michel, 1414 Robertson e Ge
eet, New Orleans, La, twelve I19I ga
res preferred stock, ten shares mi nle
Tres common stock 'A0' spt
Iooert j. Hebert, 2105 Columbus street -, 70
orleans, La, twenty-one (2D shares IN
, ct stock, ten Qo) shares common t i'm
J. Hebert. 21o5 conmbns tor
eet New Orleans, La, ten (1O) shares MOI
re ierred stock, ten (10) shares common ees
,lbert J. C. Hebert, r. F. u M Q sto
ferson Parish To On II, No. sha
ty G6O shares comrnon ..ne,. GU anu cha
res preferred stock. WV An
ne total amount of subscribed STOCK Dir
nerein set forth is the sum of ten thon- the
Niooo0.OOl dollars, divided as fol- A
3; Elghty (SO) shares preferred stock cha
elght thousand ($SOO0O 0) dollars and and
: hundred (2O0) shares of two tbonsand sto,
oWoOl dollars of common stock. which spe
autnorized to be fully paid and non am'
.ssaoie TOT cash or in exchange for sub
ppurE; OF ooth, according to law. by