The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-17
CHARTER.

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railway as may be convenient, necessary
side tracks locomotives, cars. depotS:
round houses and other equipment ht'es-
SarE to the operation of said vessels, piers,
docks wharVeS, tramways or railways ana
traffic thereon; provided that this corpora
tion shall not. without an amendment OF
this charter. be a common carrier or nay
the right to exercise the power OF eminent
domain.
Section G. To enter into, make, perform
and carry out contracts of every kind not
contrary To law, with any person. hrm, as
ISOLATION or corporation, ana 10 carry on
any other business which under the law
il may be entitled 10 carry on, Whlch may
seem to the corporation to he calculated.
directly or indirectly, TO effect the aIOre-
said objects or either OF them or To iaclil,
tate il i'll the transaction OF its aforesaid
business or businesses or any part thereof,
or in the transaction of any other LAWFUL
business that may be calculated directly
or indirectly to enhance the value OF OF 70
render profitable, any Of the corporation
property and rights, ana generally 10 hold
and exercise all such incidental powers ana
privileges a. relate 10 the objects anu pur-
poses hereinabove set forth as may be neces-
>ary. useful or convenient Tor eHettlhG
said object and purposes
ARTICLE IV.-The authorized capital
stock of this corporation j. hereby declared
TO be the sum of twenty five thousand
tS2J OOOOOD dollars. which capital stock
may he increased i'll the manner provided
by law To the sum of one hundred thOuS-
and $500. 100000 dollars. The presently
authorized capital stock of this corporation
shall be- represented by two hundred ana
fifty shares of the par value OF one nun
bred dollars each. The capital stock shall
be represented by certificates and shall be
personal property. No transfer of said
capital stock shall be binding upon tins
corporation unless made i'll accordance with
its charter and bylaws and recorded on
the books thereof.
ARTICLE V.-The capital stock of this
corporation shall be fully paid and nom
asse>sable when issued and shall be is
sues only for labor done or services rem
dercd or for property actually received or
Tor cash TO be paid at such times ana In
such amelntS and after such notice as may
be determined by the Board of Directors.
ARTICLE Wall the powers of this
corporation shall he vested and exercised
by Board of three directors, each OF
whom shall hold, in his own name. AT
least one share of stock. Said Board of
Directors shall be elected annually on the
second Monday in March of each year. the
first election to be held in the year 1922
All such elections shall be by ballot. at the
ONCE OF the corporation. under the super
vision of two commissioners, to be ap-
pointed by the Board of Directors and in
the absence of any commissioner the Presi-
dent shall have power TO I'LL the place by
appointment. and of all such elections,
well as of all meetings of stockholders.
dissolution, or as otherwise required by
law. ten days notice shall be given by
mailing TO each stakeholder who appears
such on the books of the CORPORATION.
at his last designated address, or at the
general delivery at New Orleans. if he has
not designated an address. an announce.
ment stating the time and place of the
meeting. Each shareholder shall be en-
titled 10 one vote for each share of stock
standing IN his name on the books of the
company 10 be cast in person or by proxy, |
and majority of the vote cast shall elect. |
The Board OF Directors shall have power
TO NIL all vacancies that may occur in the !
Board. Failure TO elect directors on the !
day above specified shall not dissolve the |
corporation but the Directors then in Of
nee shall remain in office until their sue
cesSOrs are elected and qualified Due
notice of another election shall forthwith !
De given. as above provided. Such notice |
OF election shall be continued to be. given
until an election is held. The Board of |
Directors AT their first meeting following |
each annual election shall elect from their |
Il a president, vice-president, and |
have power. in its discretion. to unite two 4
or more offices, and the same TO confer
upon one person and shall have power TO |
ny the salaries of all officers and all such |
othef oncerS and employees as they deem
necessary. The Board of Directors shall
nave power to make and establish. as we'll
as after and amend. all by laws. rules. and
necessary and proper for the
ana affairs of said corporation NOT incon.
siStent with its charter. Said Board shall
also have full power and authority TO bor-
S lomo H othy, ana through the president or
soin' other duly authorized agent or
agents. TO execute mortgages is
sue notes, bonds or other obligations i'm
such amount and on such terms as i'm
MI Suuuslheht may be advantageous; and
Stheraliy 10 DO all things reasonably neces-
S I%r3 Tor the proper CARRYING on of the
; BUSINESS OF this corporation. as also 10
issue and deliver full paid shares of stocks
ana bonds or obligations of this cornora
tiOn in payment of money borrowad o.
money. labor. or services, and pronertv or
rights actually received by this cornora.
ION as heretofore setfOrth: and shall have
power TO do all such acts and things as
may be necessary to carry ont the ohiactS
anu purposes for which this Corporation is
organized. -
a majority of the directors shall con-
stitute quorum for the transaction of any
business. AT any meeting of the Roori
I ,a' d Director absent from the meeting may
De represented by any other director who
may cast the vote of said absent Director
according 10 the written instructions Of 7
said absent Director. The Board of Di-
nor Ie, s1 ,h nave the power. by vote of
lease mortgage, by bond MORTGAGE or
otherWlse, or to pledge any and ali of tho
iproPerty movable or immovable. belong
ing 10 the corporation, or 70 receive In |
exchange therefor, money or stocLs ~
Dohds or other obligations of another cor
poTatlon, without referring to the share
noluerS Tor the power to do so: and thev
may also purchase for stock in This cor
PoratlOn or for cash or on credit mon |
nrty OF any Kind required for any of Tho
purposes of this CORPORATION wiriont or,
lhorlty OF the shareholders "N
ntll the next general meeting IN bo
n ,tIu under this charter on the second
lohday in March. 1922 or until their dniv
i"IiIneu successors are elected and in |
stalled, the Board of Directors shall he
IMPOSED of Hugh +. Burbank. Westweoo
La George X. Force 624 Wbitnav c.
IN, ,pal sank Building and Morris n Sba,r
L''OI Iarrollton Avenue. with Hugh p Rur
Ddhk as president, with George X Eoraa
N Nice-president and with Morris p
oha" as secretary TREASURER. 49,
ARTICLE VII.-This charter nav ho
amended and the capital stock Of hi oa
~ a'lon may De increased or decreased or
MS corporation may be dissolved an tba
method and manner provided by law
ARTICLE VIII.-No stockboldar ~ ,h,.
corporation shall ever be held liabIa nr
-IesPohslble for the contracts or faults %
I hIs corporation in any further sum Than
ne unpaid balance on the stock for which
~ mas subscribed; nor shall any mere in
oLIndIity IN organization have the ..ffact nf
y =, uerlng thls charter null or of exnos-
,I stockholder to any liability than rs
AhIlCLE IX.-NO stockholder may coll
,Sslgn or transfer his stock in This Coz
Ioratlon without giving to the cnmnony
nLousn lts secretary. thirty DAYS, nrior