The herald., 1921-07-21
CHARTER

constitute u quorum.
The said board of directors shall elect
from among their number a president,
vice. president, Al secretary, treasurer and
a general manager The Office of treasurer
and general manager may be combined by
the board and hlled by one and the same
person. Neither the seCretdIy, nor treas
urcr and general manager need necessarily
be members of the board of directors.
The board of directors shall have the
full and complete control Of the property
of this company and they Shal conduct,
manage and use the same rs III their dis
erection they may deem best II not neon
siStent with the objects of the company
and the welfare of the same. The SAID
boaru of directors shall have the further
power to make, alter and annui sdch Og
laws, rules and regulations for the govern
mcnt of this corporation, as they may
think proper.
The board of directors shall have the
further power to appoint all agents, clerks
or employees and nix their salaries ana
COMPENSATION. with term of Office, with the
right TO dismiss them at pleasure anu 'ne
said board shall have the further right 10
fN and determine the salaries OF the
several officers herein provided fOri pro-
vidcd however, that the board OF dlrty-
tors may delegate such powers TO the preSi-
dent or general manager OF The corpora
ton, or to an executive committee appoint
ell 10y said board and consisting % not
less than three directors.
ANY vacancy occurring on toe board OF
directors shall be filled by the remaining
members of said board for the uneXplred
term. at any meeting of said board OF Ol-
raCtOrS.
ARTICLE VII-The first board of dlrec-
tors of this corporation is hereby fixed at
six 90 in number and shall be composed
of: +. Il. Williams whose post Office ad-
dress is New Orleans La: J. IL. Murphy,
whose post office address is New Orleans,
La; G. :. Williams, whose post office ad-
dress il New Orleans, La; &. ID. hemper,
whose post office address is Franklin, La
Frederick Wilbert. whose post office ad-
dress is Plaquemine, La; j. III. McCardeli'
whose post office address Is Franklin, La.
with the following officers who shall serve
until the first annual meeting of this cor
poration on the first Monday in March.
| 1922. or until their successors shall nave
| been elected. qualified and installed +. Il.
| Williams. president; j. ii. Murphy, vice
president; &. =. Williams, secretary; 4. H.
| Kemper. treasurer and general manager.
Said board of directors shall serve until
/ the first netting of the stockholders for the
| election of directors, or until their success
sors are elected. qualified and installed.
! ARTICLE Wilton the first Monday in
March, 1922, and annually thereafter on the
| first Monday of March in each year,
| meeting of the stockholders of this cor
| poratiOn shall be held at its domicile for
| the purpose of electing directors Tor the
ensuing year, and at such meetings the
/
| cumulative voting in the election OF dlrec-
| tors and shall have the right of electing
| the number of directors then In office, ana
| if there be- not as many as seven directors
then in office. shall have the right of elect
| ing additional directors so long as the fuli
number of directors elected does not ex-
coed seven. A failure from any cause
| whatsoever to hold the annual meeting OF
! stockholders, or the failure to elect direc-
tors thereat, shall not dissolve this cor
pOratiOn, but the directors and officers
then in office shall remain in Office until
their successors shall have been respec-
lively duly chosen, elected, qualified ana
installed.
ARTICLE IX-The capital stock of this
corporation shall not be issued except for
labor done, or money or property actually
received; and it is hereby declared that the
stock subscribed for herein by the OAK
, BLUM Planting and Manufacturing Com
pany. Ltd, and the Sterling Sugar a
Railway Company, Ltd, shall be paid for
in property, as follows:
In payment of the subscription of one
thousand three hundred and nifty (l3JO)
shares of the preferred stock OF this cor.
popation and one thousand four hundred
and ninety eight Qi9S) shares OF the com
mon capital stock of said corporation SUP
| scribed by the Oak BLUM Planting q
Manufacturing Company, Ltd, the said
Oak Bluf Planting X Manufacturing Com,
pany, Ltd, agrees TO sell ana TINS saiu
corporation agrees to buy and Is hereby
/. |
title to, free of any and all encumbrances
: certain sugar plantations, properties ant
) improvements thereon, and appurtenance'
thereof, etc, an accurate, detailed ane
, itemiZed description of which said prop
erty, real, personal and mixed to be ae
quired and purchased by this corporation
IN exchange for said stock as to amount
: location, extent, chayacter and state OF I'M
? prOyement is hereto attached, made par
hereof and marked Exhibit "A; and tn
Y parties named herein as the board Oh al
: rectOrs of this corporation do hereby ue
Z CAR. that they have examined said prop
@ erty and do hereby appraise the vain
: thereof at not less than two hundred an
j. eighty -four thousand, eight hundred l$zs4'
d sUU.OV) Dollars; and the president OF Uni
d corporation Is hereby authorized 10 nc
n quire said property on behalf OF this cor
/, poration from the said Oak Bluff Planting
!. AZ Manufacturing Company, Ltd, and issu
s or cause to be issued In payment thereol
e one thousand three hundred ana MT
>. 13JO) shares of full paid preferred stoc
n Of this corporation and one thousand lou
n hundred and ninety-egiht (14SSD shares 2
q the full paid common capital stock OF sal
4, corporation.
d In payment Of the subscription of nv
n thousand five hundred ana nity -tnrt
'e $3.50 shares of the preferred capital stoe
e Of this corporation and six thousand nv
= hundred and ninety three t6J9Sl shares
the common capital stock OF this corpors
= ton subscribed for by the Sterling Saga
n ing Sugar * Railway Company, Ltd
a tees to sell and this corporate
q agrees to buy and is hereby authorized :
- acquire, receive and take title to, free Q
:, any and all encumbrances, a certain suga
n factory and refinery, together with certai
l. sugar plantations, properties and improve
N ments thereon and appurtenances thereo
a ETC., an accurate. detailed and itemize
:, | description Of which said property as I
= amount, location, extent, character an
a state of improvement is hereto attaches
- made part here of and marked Exhfb
n "B." and the parties named herein as IN
- board of directors of this corporation
% | hereby declare that they have examine
>. said property and do hereby appraise u
"A value thereof at not less than one millio
- two hundred and fourteen thousand 81
n hundred (Sl,214 10000 Dollars, and II
m president of this corporation IL authorize
a to acquire said property on behalf OF tn
!. corporation from the said Sterling Sugs
- Railway Company, Ltd, and issue
!, cause to be issued In payment thereto
- nye thousand 1--WE hundred and fifty -thrs
- $3.50 shares Of the full paid preferre
capital stock OF teis corporation and 81
thousand five hundred and ninety -thr'
IN .,5D shares Of the fulpa Id common cap
le tai stock Of this corporation.
:, ARTICLE X-This charter may
~ amended, and the capital stock Of tn
= corporation may be increased or decrease
or this corporation may be dissolved
"A the method and manner provided by lay
he ARTICLE XI-No stockholder of tn
m corporation shall ever be held liable or r
We sponsible for the contracts or faults
no this corporation In any further sum tina
n the unpaid balance on the stock for WIKI
\. he has subscribed, nor shall any mere