The herald. [volume] (New Orleans, La.) 1905-1953, 1921-01-06
CHARTER.
CHARTER OF THE TRIPLE PROOF
LEATHER Betting COMPANY, INC.

United States of America, State of Lou
isiana, Parish of Orleans, City of New Or
leans BE it known, That on this third
day of the month of January, In the year
of Our Lord, one thousand nine hundred
and twenty-One, and of the independence
of the United States of America, the one
hundred and fOrty-fifth, before me, W.
Morgan Gurey, a Notary Public, duly COM
missiOned and sworn, In and for the Slt!
and Parish of Orleans, therein residing,
and In the presence of the witnesses mere
matter named and undersigned, personally
came and appeared the several persons
whose names are hereinafter subscribed,
all of full age of majority, who declared
that, nvailing themselves of the provisions
of the Constitution and laws OF this STATE
relative to the organization OF corporations
they have covenanted and agreed ana 90
by these presents covenant and agree TO
form and constitute themselves into cor
poratiOn and body polite in law, with such
persons as may hereafter become aSsovI-
noses and under the articles, agreements
and stipulations following, which they
adopt as their charter, to-wit;
ARTICLE 1.-The name and style of this
corporation shall be Triple Proof Leather
Betting Company, Incorporated, with its
domiciie in the City of New Orleans Lou
isiana, and under that name II shall nave
and enjoy all the rights, advantages and
privileges granted by law to corporations,
and shall exist for the full term and period
of ninety nine years from the date hereof
1t shall have power to contract, sue and
be sued to make and use a corporate seal,
and the same to alter or break at pleasure
to own, hold receive, loan, lease, purchase,
sell and convey, as well as. mortgage ana
hypothecate and pledge property, both real
and personal, and mixed, corporeal ana
incorporeal; borrow money and issue EVIL
dence OF Indebtedness, secured and I'M
secured; to name and appoint such mana
gers, directors, officers, agents and other
employees as its interests and convenience
ntttr md IN 10 h "A =
well as alter and amend, from time TO
time, such bylaws, rules and regulations
as may be necessary and expedient for the
proper management and government OF the
affairs of the said corporation, and gener.
ally to have, enjoy and exercise any ana
all rights and privileges granted or al
lowed by the Constitution and laws OF TINS
State to similar corporations, and do any
and all acts and things necessary to carry
on its business or that its interest and con-
venience may require.
ARTICLE 1.-the objects and purposes
for which this corporation is formed and
the nature of the business to be carried or
by 1t is hereby declared to De: To manu-
facture and deal in leather, leather belt
ing, and any and all leather goods, anc
every kind of betting and articles thereto
allied or into which leather may enter, OF
be part of: To buy, sell, receive, alternate
aud deal In any and all leather specialties
to tan, treat and prepare, hides, skins anC
pelts Of all kinds and to buy and sell an6
deal in any nature of merchandise
wholesale or retail, and to pledge, pawn o
mortgage any of its property, movable o
immovable personal or mixed, corporea
and incorporeal and to do all business an'
things, incidental or pertaining to salt
manufacture, merchandise and business.
ARTICLE uI-The capital stock of thi
corporation Is hereby fixed at the sum o
fifteen thousand (si5,O00.O0) dollars, TO b.
divided into, and represented by one hun
dred and fifty $50 shares of the par valu
of one hundred dollars (S10O.OO) each, pay
able In cash or it's equivalent.
The subscription of Il. A. Usina, 331
Carondelet Street TO 145 shares of the capi
tai stock of this corporation OF the pa
value of $4,000 per share is declared to b
paid In full follows: $4,000, In cash
and the balance of $11,1O0OO. is paid b,
the delivery TO this corporation OF tn
property detailed and itemized on the AT
tached list or inventory OF merchandise
shop machinery, furniture and fixtures
which property is appraised by the ID
rectors herein named at the sum OF vi,
10000, eleven thousand, one hundred do
lars.
The capital stock Of this corporatioa ma
be increased to the sum of one hundre
thousand dollars ($lOO,000,O0). divided int
one thousand shares of $4,000 each. Thi
corporation shall be authorized TO com
mence business and be going concern a
soon as half of its capital stock has bee
subscribed and paid for. should an
stakeholder desire to sell his stock. he sha
first offer the same 10 this corporation
through its Secretary Treasurer at II
book value. and the stockholders who d.
sire TO purchase shall have the right I
purchase same in the proportion TO thei
respective holdings of stock In the com
pary. should any stakeholder not wish {
purchase his proportionate share, then hi
share shall be offered to the other stock
holders proportionate to the number {
shares owned BY them. should this CO.
poration or said stockholders. in ten day
after notice having been given in writing
fail or refuse to purchase the stock ofere
for sale. such stock may be sold to an
one. No transfer of stock shall be made {
held to be valid and binding unless mad
in pursuance 20 the provisions OF tn
charter and on the books of the compan
ARTICLE ly-All the corporate power
of this corporation shall be exercised b
and vested In a Board of three Director
each of whom shall own in his own nan
at least one share of the capital stock Il
pledged. ANY two Of said Directors sha
constitute quorum for the transaction
all business. The first Board of director
Is declared to he Il. Aubriel Usina, 80
Carondelet Street. New Orleans. La: WI
liam 5. Launstein, AGO Arts Street. Ne
Orleans La: L. Aubriel Usina, Jr., 9
West 18th Street. New York. New Yor
with the said +. Aubriel Usina. as Pres
dent and Treasurer. the said William
Launstein. as Vice-President, and the Sc
rotary shall be elected by the Board at
first meeting.
Which said Board Of Directors and o
feers shall hold their Offices until the fr
Tuesday I'm December. 1927. at which tin
ana annually thereafter. the stockholde
shall elect directors, and the said directo