The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-24
CHARTER.

aide tracks, locomotives, cars, uePotsi
round houses and other equipment Iors
sary TO the operation of said vessels, piers,
docks wharyes tramways or railways anu
traffic thereon; provided that this corpora
ton shall not. without an amehollens % %
this charter, be common carries VI 49,
the right to exercise the power OF enlinenI
domain.
Ssction g. To enter into. make, perform
and carry out contracts OF every KIND not
contrary to law, with any person hrnl, as
ISOLATION or corporation, anu 70 carr VI
any other business which unuer the law
IL may be entitled to carry on, whieh may
seem to the corporation to be calculateu'
directly or indirectly, TO eject tue aloi t,i
said objects or either OF them or 70 Iaciii
tate IL in the transaction OF Its aloresaie
business or businesses or any part tnereoI,
or in the transaction of any other ia"tui
business that may be calculated uirec'i!
or indirectly to enhance the value OF OF 70
render profitable, any of the corporation
property and rights, and generally 10 hol9
and exercise all such incidental powers ana
privileges as relate to the objects ana pur-
poses sereinabove set forth as may be neees-
sary, useful or convenient ior ehectins
said object and purposes.
ARTICLE Iv.-The authorized capital
stock OF this corporation is hereby declared
TO be the sum of twenty-five thousand
ISIS OOOOO) dollars, which capital Stock
may be increased in the manner PROVIDED
by law to the sum OF one hnndred tnous-
authorized capital stock of this corporation
shall be represented by two hundred and
fifty shares of the par value OF one nun,
dred dollars each. The capital STOCK Shali
be represented by certificates and shall be
personal property. No transfer or said
capital stock shall be binding upon this
corporation unless made in accordance with
its charter and bylaws and recorseo on
the books thereof.
ARTICLE y.-The capital stock Of this
a,IIw na1 and nan
assessable when issued and shall be is
sued only for labor done or services rem
dered or for property actually received or
for cash to be paid at such times ana In
such amounts and after such notice as may
be determined by the Board of Directors.
ARTICLE vI.-All the powers Of this
corporation shall be 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 or
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
office OF the corporation, under the super
vision of two commissioners, to be APP
pointed by the Board of Directors and in
the absence of any commissioner. the Presi-
dent shall have power to NIL the place by
appointment, and of all such elections,
as well as of all meetings of stockholders,
except for the purpose or liquidation or
dissolution, or as otherwise required by
law. ten days notice shall be given by
mailing to each stakeholder who appears
as 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 to one vote for each share of stock
standing in his name on the books of the
company, to 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
fce 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
number president, yice-president, and
a secretary-treasurer. The Board shall
nave power, in its discretion, to unite two
or more offices, and the same to confer
upon one person and shall have power to
NIX the salaries Of all officers and all such
other officers and employees as they deem
necessary. The Board of Directors shall
have power to make and establish. as we'll
as alter and amend, all bylaws. rules. and
regulations necessary and proper for the
support and management of the business
and affairs Of said corporation, not incon-
sistent with its charter. Said Board shall
also have full power and authority to bor-
row money, and through the president or
some other duly authorized agent or
agents. to execute mortgages, is
sue sue notes, bonds or other obligations, in
their Judgment may be advantageous: and
generally to do all things reasonably neces-
sary Ior the proper carrying on Of the
issue and deliver full paid shares of stocks
ana bonds or obligations of this corpora
tion, In payment Of money borrowed. or
money, labor, or services. and property or
tien aStuany received by this corpora
power to do all such acts and things as
may De necessary to carry out the objects
ana purposes for which this corporation Is
organized. -
majority Of the directors shall CON.
stitute quorum for the transaction of any
any Director absent from the meeting ma =
De represented by any other director. who
may cast the vote Of said. absent Director
sce9rding to the written instructions OF
s sact aos sent Director: The Board of Di-
not less than majority thereof, to sell
lease, mortgage, by bond mortgage or
O,nerwise' or to- pledge any and all Of the
ipropea'y movable or fmmovable. belong
ing TO the corporation, or to receive in
excnange therefor, money or stocks OF
bonds or other obligations of another cor.
poration without referring to the share
holders Tor the power to do so: and they
may also purchase for stock in this cor
poratlon or fer cash or on credit. prom
erty OF any kind required for any Of IN,
purposes OF this corporation. without an.
tnority OF the shareholders.
Until the next general meeting to h.
neid under this charter on the second
Mohday In March, 1922. or until their duly
| quanned successors are elected and in.
ssaIied, the Board of Directors shall b,
composed OF Hugh p. Burbank westwego
La; George X. Force, 624 whitney Cen
traI Bank Building and Morris RI. shaw
| i9Oo Carrollton Avenue with Hugh p Rur
Dahk as president, with George K Fore.
az vlce-president and with Morris r
ohaw as secretsry-treasurer
ARTICLE vII.-This charter NAV h,
amended and the capital stock of this cor
M may be increased or decreased oil
! enIs corporation may be dissolved I'm ri,
method and manner provided BY law.
ARTICLE yIII.-No stockbolder ~ tb;,
corporation shall ever be held liable on
IssponsiDie for the contracts or faults Of
thls corporation In any further sum thar
sne unpaid balance on the stock for which
ne mas subscribed: nor shall any mere In.
rendering this charter null or Of ernos
above provided. "A %
ARTICLE IX.-No stakeholder NAV sell
assign or transfer his stock in this cor
poration without giving to the company
tnIougn It's secretary, thirty days prio]
no, roeice IN writing Of such Intentions, and