The herald., 1921-06-16
CHARTER.

4 thereof. he shall first offer same TO the re-
manning stockholders, in proportion ~ ~
| their respective holdings, at ms pooh
| value This offer is to be made to appear
! by letter addressed to each stockholder,
at his last known address, giving lhIieS
days option. At the expiration Oh MhtIh
| time the stockholder desiring to sell MS
| stock shall be at liberty to do SO at WHAT
! ever price and to whom he may please
The capital stock of this corporation may
be increased to one hundred thousanu
! t$IOO OOO.OO) dollars, and be DIVIDED lhto
four hundred (iOOJ shares, or torty tnou-
sand $4,000 00J dollars of preferred STOCK,
and six thousand (60O0) shares or slAtS
thousand (S600OOOOJ dollars OF the coln-
mon stock.
ARTICLE v.-AIl the corporate powers
of this corporation shall be vested in and
exercised by a Board of Directors com
! posed of not more than seven, and not less
! than five. Directors, each OF Whoih shdlS
1 own in his own right. on the DOoks ol
! this corporation. not less than ten un-
/ pledged shares of preferred stock, a ma
/ jority of whom shall constitute quorum
| Members of the Board of Directors shaIl
be elected for term OF one year at the
annual meeting of the company, which
! shall be held on the tenth legal day OF
! April of each year. The Board OF Dlrec-
tors at their first meeting following each
annual election, shall elect from among
their number a President. Vice Presl-
dent and a Secretary Treasurer, and such
other officers <as the Board of directors
shall deem necessary. The Board or Dl-
rcctOrs shall have the authority 10 unite
two or more Offices in one and the same
| person. 1t shall also have the power ana
authority to fix the salaries of officers and
other employees, and terms OF employment ;
to make and establish, as wei as 10
alter and amend, such bylaws, rules and
regulations as may be necessary or proper
for the support and management or the
business and affairs of this corporation
to borrow money, and through the Presl-
1ulu
or agents to execute mortgages, issue
notes, pledges, bonds or other obligations
in such amounts, and on such terms ana
conditions, as in his or their judgment
may be beneficial or advantageous 10 TINS
corporation; and, generally, to do all
other acts or things as may be necessary,
proper or convenient to carry out the
objects and purposes of this corporation
and also to issue and deliver full-paid
shares of stock, bonds or obligations OF
|, said corporation in payment of money bor-
rowed, or for labor, property and good
will, as hereinabove set forth. All cleo
tions shall be by ballot and any Director
absent from any meeting may be repre-
sented by written proxy.
The Board of Directors shall have the
right by unanimous vote, to sell, lease
mortgage by bond or otherwise, or to
pledge any or all of the property of this
corporation, and to receive in exchange
= therefor money or stock or bonds or other
, obligations of an individual, firm or other
, corporation, without referring to the
; shareholders for the right or authority tC
| do so, and they may also purchase for
stock in this Company property of any
| kind required for the purpose of this cor
: pOration, upon complying with Section
of Act 267 Of 1914, as above recited.
The following named persons shall con
r stitute the first Board of Directors of this
2 corporation, tO-wit: Camire j. Malbor'
ough, 1907 Ursuline street, New Orleans
) La; Mumford Michel, 1414 Robertson
~. Dnhn IIn
/ bert, 21O5 Columbus street, New Orleans
e La; Stanislaus J. Hebert, 21O5 Columbu,
e street, New Orleans, La; Albert j.
t Hebert. r. F. D.. No. 2, Jefferson Parish
La; with Camire j. Marlborough al
e President, Robert J.. Hebert yice-Presi
/ dent, and Albert J. c. Hebert Secretary
. Treasurer. and these officers and direc
e tors shall hold Office until the tenth lega
2 sors are duly elected. Thereafter the di
e rectors shall be elected annually on tn
: tenth legal day of April of each year. !
r ma jority of preferred stock shall be neces
sary to elect. Failure to hold an election
S for directors as above recited shall no
t work a forfeiture of this charter, but tn
= old Board of Directors shall remain II
e office until their successors are dul.
: elected and qualified.
!. ARTICLE VI-The Board of Director
T shall hold regular meetings at such time
: as shall be fixed in the bylaws of thi
q corporation. but the President may cal
special meetings of the Board of Director
at such times as he may deem advisable
: and he shall be required to call sue
: special meetings at the request of mem
s ber of the Board of Directors. Three day
n written notice of such special meeting shal
e be given to the directors unless a waive
/, of such notice is signed by the directors
Any vacancy occurring in the Board o
:. Directors, either from death. resignation
J., or inability to serve, shall be filled by tn
a remaining directors at its next regula
| meeting Snch
% occurred.
=, ARTICLE VII.-The stock of this COZ
d poration may be transferred, provide
4, such transfers shall be recorded on tn
n be required to recognize the transfer, O
% the new holder of the stock.
Al ARTICLE VIII.-This charter may b
. modified or altered the capital stock In
% creased or decreased, or the corporatio
l. may be dissolved with the assent of two
r thirds of the preferred capital stock pre-
d ent or represented at any special meetin
, of the preferred stockholders held for this
Is purpose, after prior notice in writing I
l. each stockholder, mailed to him at his la
G known address. all in accordance with tt
Is terms of Act 267 of 1914.
n ARTICLE IX.-At the expiration of tn
~ charter. or its earlier dissolution from an
~ cause, its affairs shall be liquidated by or
r. or more commissioners or liquidators
"a be elected by the preferred stockholder
W all of whom shall hold preferred stock
this corporation, and said liquidators al
is hereby vested with full power and al
~ thority to liquidate the affairs of this co
70 poration. with full power to act under Il
Oh terms of Sections so Of Act 267 6f 1914
NJ ARTICLE X.-The appearers hereby d
M clared that thev have subscribed to Il
ID following number of shares of the commC
~ and preferred stock of this corporatio
4 to-wit:
~ Camire J. Marlborough, 1907 UrsuliI
street, New Orleans, La, twenty sevt
"a (20 shares preferred stock, ten III
ne shares common stock.
IL Mumford A. Michel, 1414 Robertsc
'y street. New Orleans La, twelve a.
or shares preferred stock, ten shares (1
ne shares common stock.
r, Robert J. Hepert, 21O5 Columbus stree
.k New Orleans, La, twenty-one (21) shar
ne preferred stock, ten (1o) shares commC
n, stock
ds Stanislaus J. Hebert, 21O5 Columb,
D street. New Orleans, La, ten (10) shar
ed preferred stock, ten (10) shares CONNIE
or stock.
mt Albert ]. c. Hebert, R. F. D., No.
rs Jefferson Parish La, one hundred ar
OF sixty 160) shares common stock; ten Il
ed shares preferred stock.
ce The total amount of subscribed stot
o. as herein set forth is the sum of ten tho,
o. sand (S10,OOO.00) dollars, divided as fo
te lows: Eighty (S0) shares preferred sto,
Us two hundred (200) shares of two thousar
he (S2OO0O0) dollars of common stock, whi,
10 is authorized to be fully paid and no
assessable for cash or in exchange f
cokk ck property, or both, according to law.
VI Thus dime and uaSsad az nv affica