The herald., 1921-02-17
CHARTER.

TO be az the sum of one million dollars
Isl 900 NM which may be increased 10 I'VE
million dollars 80. q 10000. said capital
stock is divided into forty thousand Nt"'
OOOl shares of the par value OF twenty Nv
dollars $4,000 each, TO be pald LOT as He
law provides. or sooner, AT the dls'f'tlon
of the Board of Directors, which salu
stock shall be paid for III cash, or tht
same may be issued at not ltss IMAM par
i'll payment or exchange for property rlshtS
actually received or purchased by saln
corporation in accordance with laW' OF
labor or services rendered To the corpora
| ton at such time and under such terms
and conditions not Inconsistent Win IIN'
as the Board of Directors may prescribe
Any stakeholder may sell. assign, or trans
fer his stock in this corporation PROVIDED
thirty days prior notice OF >uch lhtth-
ton to sell. assign or transfer the same
he given to this corporation. and the Board
of Directors of this corporation Shall nave
the first privilege of purchasing for TINS
corporation the said stock; and in the
event of the Board of Directors refusing
or ncglecting such option 10 purchase the
said stock within the time limited in SAID
notice. chen and i'll such case the sald
stock may be sold in the open market.
The stock of this corporation may be
transferred under the above conditions.
provided such transfer thereof be made
on the books of this corporation ana upon
the surrender of the certificate therefor.
ARTICLE V.-AlI the powers of said
corporation shall be vested in and eNer-
ci>ed by a Board of five (5l Directors
three 80 members of said Board shall
constitute a quorum for the transaction 81
business. and their decisions shall he valid
corporate acts. The names and po>totlrc
addresses of the Directors for the first year
who shall serve until their successors are
elected and qualified are as follows:
Charles +. Smith. 1912 Carrollton Avenue,
New Orleans, La; James X. Bagley, 2'ul
General Pershing St. New Orleans. La;
James T. Proysn. 1910 81. Andrew Sc,
New Orleans, La; Richard T. Mcbride,
APO Daueel St. New Orleans. La: Clcora
. NJ. Keenan,. 627 Elmira Ave. New Orleans,
La. Said Board of Directors shall con
! tiuue in Office until the second Tuesday in
the month of January. 1922. on which date
and annually thereafter their successors
shall be elected. unless the same lac a
holiday. when the election shall be held
! on the next legal day thereafter.
r Failure from any cause whatever TO elect
j, Directors on the day named for that pur-
e pose shall not dissolve the corporation, but
>. the Directors then in office. as well as the
= officers of said corporation, shall hold over
- until their successors are chosen.
r At every election and meeting. each
' stakeholder shall be entitled to vote for
each share Of stock registered in his name,
either in person or by written proxy.
The election of Directors shall be by
ballot, and the majority in the amount of
{ votes east. each share of stock voted upon
Being counted as one vote. shall elect the
person or persons for whom they have
been east.
i After each election the Board of Direc-
tors shall elect from their own number
Il President, a Vice President and a Treas
urer of said corporation; and shall also
: elect a Secretary of said corporation, who
! need not be from their own number.
! ARTICLE VI-The Board of Directors
E shall have full power to fill vacancies in
their number caused by deaths, resigna.
lions or otherwise. from among the stock
: holders of said corporation.
r The said Board shall have full control
of the property of the corporation. and
shall so conduct. manage and use the same
as in their discretion they deem ft
and that is consistent to the objects of thi,
company for the welfare Of the same.
The said Board is further authorized tC
frame and adopt such bylaws. rules and
regulations as the affairs and business OF
the corporation may require, and as ii may
/ be necessary for the conduct and manage
ment thereof; provided the same shall mo-
conflict with this charter. or with the laws
% Of the State or of the United States.
The said Board shall elect or appoint {
manager, and may, in its discretion, dele
gate special power and authority to saiC
manager for the purpose of properly con
Dr. Quoting and managing the business details
of said corporation; said Board shall als'
D. have power to appoint or elect such othel
officers, agents, employees, servants AM
r. clerks as it may deem necessary for tn
ps conducting of the business of the corpora
ton; fix their compensation and terms o
to service, and fix and determine the salarie
K of the several officers herein provided fol-
id ARTICLE VII.-The names and post
n Office addresses of the subscribers of thes
as Articles of Incorporation and the state
IS. ment of the number of shares of stock t
nd which each has subscribed are as follows
r. Charles f. Smith. 1912 CarrOlltOn Ave
or New Orleans, La, 1880 shares; James 4
be Bagley, 2901 General Pershing ST., New Or
ST leans. La. 3 shares: Jones T. Proved
he 1910 st. Andrew St, New Orleans, La,
tie shares; Richard T. Mcbride, 1920 Dance
St, New Orleans. La, 3 shares; Cleor
p NJ. keenan,. 627 Elmira Ave, New Orleans
Is La, D shares.
se: ARTICLE VIII-This charter may h
OF changed, modified or amended, or TIL
er corporation may be dissolved at a gener;
meeting of the stockholders convened fo
OF the purpose, according to law. If, at an
en time, this corporation should, according
law. desire to dissolve, its affairs shall
II liQuidated by three commissioners selec
o. ed from the stockholders at a meetin
On called for that purpose; said commission
vi ers to remain in Office until the affairs A.,
M the corporation have been fully liquidated
VI in case of death of one or more of sal
commissioners, the survivor or survivor
I'll. shall continue to act.
Thus done and passed at my notari
No office, in the City of New Orleans, on IL
day and date herein first above writtel
of by the parties whose names are herei
subscribed, in the presence of Messr
Nirma keenan, and Edmee FOrtier, comp,
NJ tent witnesses, who hereuntO sign the,
dS presents, together with appearers and m
U.s. notary, after due reading of the whole.
Mt. Original signed.) Chas. Z. Smith, 1875
me shares; James h. Bagley, 8 shares; Cleol
IN NJ. keenan,, 5 shares; j. II. Prowell,
ats shares; X. T. Mcbride, 5 shares.
Up Witnesses: Nirma keenan,, Edmee Fo
tier.
lr tSigned) JOHN r. UPTON. Not. Pub.
nd /, the undersigned, Recorder of Nor
Sos cages In and for the Parish of Orleans,
or the State of Louisiana, do hereby certii
nv that the above and foregoing act Of inco
is poratiOn of the Petroleum Import & f,
red port Corporation, Inc, was this day du
rn- recorded in my Office in Book 1853, Fol
ro- A. New Orleans, January 81, 1921.
or (Signed.) ROBT. SCOTT, by. r. NJ.
use, /, the undersigned. Notary Public. ,
hereby certify that the above and foreg
ing ID a true and correct copy of the a
the of Incorporation of the Petroleum Impo
Il Export Corporation, Inc, the original
one which is of record in my current nOtari
rm. register, together with the certificate
the recorder Of mortgages thereto 8
ISL tached.
or Witness my hand and seal this 31st d
iim9 of January, a. ID. 1921.
lgs, (Signed) JOHN r. UPTON. Not. Pub.
1ers Feb. 10-Mch. II.
Ike.
me AMENDMENT OF CHARTER OF T.
DER HnEnN UNr