The herald., 1921-07-14
CHARTER.

,nreSt and convenience of said cOrpOratioi
NAV require; and to make anu es,auiisn'
as well as alter and amend at pledsufe,
such bylaws, rules ana rec u Idt.O ~, 90
he management and regulation OF the az
hrs of the corporation as may De heces-
airy, proper or convenient.
ARTICLE 1.-THE dOmicile OF TINS cor
,oration shall be in the Parish OF orleans,
state of louisiana, and all cltatlohs VI
otber legal process shall be served upon
the president or in his absence or inaDlht!
TO act upon the vice-president, or IN the
absence or inability of both of said Officers
to act, upon the secretary.
ARTICLE uI-The objects and purposes
for which this corporation is orgahlIeu'
and the nature of the business to be con
Quoted by it, are hereby declared 10 De /;
To buy and sell scrap iron, metals anu
second hand machinery of all kinds.
ARTICLE Iv-The capital stock of this
CORPORATION is hereby fixed at the sum OF
(S10OOO.0O) Ten Thousand Dollars, dlElaed
into and represented by 100 shares or the
par value of $4,000 each, all of when
shall be common stock. The amount OF
the capital stock may be increased 10 lhe
sum of Thirty Thousand (S3O,OOO.OO) Wheh
duIy authorized by the stockholders. Salu
stock shall be paid for either in cash or
property actually received by the corpora
ton All the stock of this corporation
shall be fully paid and non-aSsessaole'
No transfer of stock. shall be binding upon
the CORPORATION, unless made upon its
books, and all certificates of stock shall
be signed by such officers as the law may
require. No stakeholder shall have the
right to sell or transfer his stock or any
part thereof to anyone who Is not STOCK,
holder of said corporation, unless he shall
have first offered the same TO. the Other
stockholders at the book value thereon as
fixed by the board of directors, allowing
ID days for the acceptance or rejection OF
said offer, after which delay only. If the
offer is not accepted. the stakeholder de-
string to sell his shares, may sell the
same to anyone not stOckhOlder. 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 al
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 cast in person or by
proxy, and u majority of votes cast shall
elect. Said board of directors shall have
the power to fill all vacancies, which may
rum remain at the time such vacancies are
to be filed. Failure to elect directors on
the day above specified shall not dissolve
the corporation, but the directors then in
office, shall remain in office until their
successors are elected and qualified. The
board shall elect from their members a
president, a vice president, a secretary and
a treasurer. Any director absent from a
meeting may be represented by any other
director by written proxy, who may cast
of hp absent 10 nf-
fees of vice-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 ii may designate, shall ap-
point such managers, clerks and other en-
ployeeS of said corporation, as NAV 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
nix the salary of all officers, managers,
clerks, and employees.
Until the general meeting of the stock
holders for the election of directors to be
held on the 18th day of September, 1921
or until their duly qualified 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 1915 Dryades
street, New Orleans, La; and Benjamin S.
Fendig, whose post office address is 1917
Saratoga street, New Orleans La.
ARTICLE VINO stakeholder or sub
scriber for stock shall ever be held liable
Tor the contracts, faults or debts of this
corporation in any further sum than the
unpaid balance. if any, due the CORPORA
ton on the stock for which he has sub
scri6ed 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 informally in organi-
zation have the effect of rendering this
cnafter null, null or of rendering any sub
scriber liable beyond the unpaid amount If
any, remaining due on his stock.
ARTICLE VII-An stockholders meet
1ngs 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 VIII-In the event of the
liquidation or dissolution of this corpora
ton, the stockholders shall elect three
liquidators from among their number, at
meeting convened for that purpose in
accordance with the laws of the State.
Said 1iquidators 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 onfce 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 ap-
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,
yamfn 3. Fendig, 4917 Saratoga st. New
Orleans. La, one ~ share, 500.
Witnesses: Hugh NJ. Wilkinson. James
Wilkinson.
A. J. PETERS