The herald. [volume] (New Orleans, La.) 1905-1953, 1921-05-12

United States Of America State of Lou
isiana, Parish of Orleans, City of New Or
leans. Be it known, That, on this hfth
day of the month of April, 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 hun
dred and fOrty-tifth; before me- William j.
FOrmento, notary public, duly commits
stoned and qualified in and for the Far
ish of Orleans, State OF Louisiana, per
sonally came and appeared the several
persons, whose flames are subscribed here
to, who declare that, awaiting themselves
of the laws of the State OF louisiana, III
such cases made and provided, and par
ticularly of Act. No. 261 of 1914, they de-
sire to, and do hereby, form themselves
into u corporation under the name, ana
for the objects and purposes, ana under
the terms and conditions, hereinafter set
forth
ARTICLE 1.-The name and style of
this corporation shall be Flynt Varnish
Works. Inc, and. under this name 1t shall
have all the power and authority con.
ferred upon corporations by the laws of
the State Of Louisiana and of the United
States of America. 1t shall have existence
for a period of ninety nine years from
this date unless sooner legally dissolved.
1t shall have power to contract, sue
and be sued, in it's corporated name;
to make and use corporate seal,
and the same to break or alter at
pleasure; to hold, receive, lease, SUBJ
lease, purchase, convey and exchange
property, real, personal, or mixd; mort
gage, pledge, or hypothecate the same TO
borrow or loan money, securities, and val-
liable things generally, In any matters con-
nected with the purposes or business OF
the corporation; TO issue bonds. notes, and
ments. and commercial paper generally, to
appoint such officers, agents, managers
and employees generally. as the business
and interests of the corporation may re-
charter, and to establish, alter, and amend
all rules, regulations and bylaws for the
conduct and management OF the business
of the corporation In any way conformaoie
fto the law.
ARTICLE 1.-THE domicile Of this cor
poration shall be in the City of New Or
leans, State of Louisiana, and all citations
and other legal process shall be served
upon the President of this corporation,
or in the event of his absence or inability
to act. then upon the Vice-President.
ARTICLE III.-The objects and pur-
poses for which this corporation is Or
ganized. and the nature of the business
to be carried on by 1t, are hereby de-
clared to be:
The manufacturing, buying, selling, ex-
changing, and general dealing in varnishes,
stains, enamels, japans, driers, wood-fill-
ers, paint oils, asphaltums, paints, varnish
and paint removers, furniture polishes
liquids used in paint making and color
grinding. and: In general, all products
used, or usuable, in the varnish and paint
To engage in. conduct, and operate any
line of business, incidental to the main
business, hereinabove stated, or any bust
ness properly susceptible of being con-
Quoted through the character of the prop
erty to be handled by the corporation.
This corporation shall have the right to
acquire, either in whole or in part, the
business. assets, goodwill, and the like
of any person, or concern, engaged In
line of business similar to that authorized
by the charter Of this corporation, and to
pay for the same in cash, stock, or in
any other lawful way.
ARTICLE Iv.-The capital stock of this
corporation is hereby fixed at the sum of
twenty thousand dollars, divided into two
hundred shares Of the par value OF one
hundred dollars each.
The capital stock of the corporation may
be increased to the sum Of fifty thous-
and dollars.
No stakeholder shall sell or dispose of
any of the stock of this corporation, with
out first having offered the same for sale
to the other stockholders, by letter ad-
Of Directors Of the corporation, having
therein the lowest proposed price Of said
stock and the proposed terms Of sale.
After thirty days from the receipt Of such
written offer, and the failure of the stock
holders, or any of them, to purchase the
said stock upon the proposed terms of
sale, or at least, terms no worse than
shall then be at liberty to sell such stock
for not less than the said proposed price
and upon the said proposed terms, or, at
least, terms not more favorable to the
purchaser than those submitted to the
stockholders. This rule shall apply to
each specific sale, or proposed sale, of
stock.
Where the stockholders of the corpora
ton are accorded the right Of purchasing
a shareholders stock, as hereinabove set
forth, such right shall devolve upon the
said stockholders. first, in the proportion
Of their individual holdings of stocks. and
then ratabbly among the remaining stock
holders, should any particular stakeholder
not elect to exercise his right, and so on,
until the right shall remain in one stock
holder. IL all other stockholders should
decide not to exercise the right.
The corporation shall make no transfer
Of stock where the provisions of the fore
going paragraphs have not been fully COM
piled with, and the corporation shall also
be entitled to demand. and shall SO de-
mand of both the seller and the pur-
chaser Of stock In all cases, before max
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