The herald., 1921-08-18
CHARTER.

ARTICLE 1N-The capital STOCK OF TINS
corporation shall not be issued except for
labor done. or money or property actually
received and il is hereby declared that the
stock subscribed for herein by the OAK
Bluff Planting and Manufacturing Com
pany, Ltd, and the Sterling Sugar
Railway Company, Ltd, shall be paid for
in property, as follows:
In payment of the substitution of one
thousand three hundred and nifty (l5JO)
shares of the preferred stock OF this cor
poration and one thousand four hundred
and ninety eight (l49S) shares OF the com
mon capital stock of said corporation sub
scribed by the Oak Bluff Planting
Manufacturing Company, Ltd, the SAID
Oak Bluff Planting " Manufacturing Com,
pany, Ltd, agrees to sell ana TINS SAID
corporation agrees to buy and is hereby
authorized to acquire, to receive and take
title to, free of any and all encumbrances,
certain sugar plantations, properties ana
improvements thereon, and appurtenanceS
thereof, etc, an accurate, detailed ana
itemiZed description of which said prop
erty, real, personal and mixed TO De ac-
quired and purchased by this corporation
i'll exchange for said stock to amount,
location, extent, character and state OF I'M
proyement, is hereto attached, made a part
hereof and marked Exhibit "A; and the
parties named herein as the board OF dl-
rectors of this corporation do hereby de-
rare that they have examined said prop
erty, and do hereby appraise the value
| thereof at not less than two hundred ana
|
$4,000 Dollars; and the president of this
| corporation is hereby authorized 10 &C
| quire said property on behalt OF TINS cor
pOration from the said Oak Bun Planting
| * Manufacturing Company, Ltd, and issue
or cause to be issued in payment thereof.
| one thousand three hundred and NIFTY
| 1850 shares of full paid preferred stock
| of this corporation and one thousand TOUR
| hundred and ninety-egiht (li9S) shares OF
| the full paid common capital stock OF said
| corporation.
In payment of the subscription Of five
| thousand five hundred and hfty-three
| (5J53) shares of the preferred capital stock
| of this corporation and six thousand hve
| hundred and ninety three (6593) shares of
| the common capital stock of this corpora
ton subscribed for by the Sterling Sugar
| ~ Railway Company, Ltd, the said Sterl-
| ing Sugar 4 Railway Company, Ltd,
| - to. sell and this corporation
| agrees to buy and is hereby authorized to
| acquire, receive and take title to, free OF
| any and all circumstances, certain sugar
| factory and refinery, together with certain
| sugar plantations, properties and improve
| ments thereon and appurtenances thereof,
| etc, an accurate, detailed and itemized
| description of which said property as TO
| amount, location, extent, character and
| state of improvement is hereto attached,
| made part here of and marked Exhibit
| b and the parties named herein as the
| board of directors Of this corporation do
| hereby declare that they have examined
| said property and do hereby appraise the
| value thereof at not less than one million
| two hundred and fourteen thousand six
hundred ($1,2l4, 6O0.O0) Dollars, and the
| president of this corporation is authorized
| to acquire said property on behalf of this
| corporation from the said Sterling Sugar
| X Railway Company, Ltd, and issue or
| cause to be issued in payment therefor,
hYe thousand five hundred and ffty-three
| l5I53) shares of the full paid preferred
capital stock of this corporation and six
thousand five hundred and ninety-t three
| ~ shares Of the fulpa i'd common CAPT
tai stock of this corporation.
ARTICLE X-This charter may be
amended, and the capital stock OF this
corporation may be increased or decreased,
| or this corporation -Qay be dissolved in
the method and ma6ner provided by law,
ARTICLE XI-No stockh holder of this
| corporation shall ever be held liable or re-
| spOnsible for the contracts or faults OF
this corporation in any further sum than
the unpaid balance on the stock for which
| he has subscribed, nor shall any mere in
| fOrmality in organization have the effect
of rendering this charter null or Of ex-
posing stakeholder to any liability other
than as above provided.
Thus done and passed in my office al
the City of New Orleans, Louisiana, on the
day. month and year first hereinabovt
written, in the presence Of r. c. Milling
and Joseph Il. Hart, competent witnesses
who hereunto sign their names with said
dppearers and me, notary, after due read
, ing of the whole.
Oak Bluff Planting and Manufacturing
| Co, Ltd, S. T. McCardell, president
Franklin. La, 1850 preferred. 149S com
mon; STEERING Sugars & Ry. Co., Ltd, b!
r. Ii. Williams, president, New Orleans
"a, 1888 preferred, 6593 common; c. d
kemper, Franklin, La, i common; f. Il
: Williams, New Orleans, La; / common
Frederick Wilbert, Plaquemine, La,
, common; j. II. McCardell, Franklin, La.
! l common; C. s. Williams, New Orleans
La, 1 common; J. II. Murphy, by c. ID
kemper, proxy, New Orleans, La, l com
mon.
Witnesses: R. c. Milling, Joseph Z
Hart.
EUGENE d. SAUNDERS,
Notary Public
I, the undersigned Recorder Of Mort
cages, in and for the Parish of Orleans
: State of Louisiana, hereby certify that tn
above and foregoing Act of Incorporation
: of the Sterling Sugars, Inc. was this da,
recorded in my office in Book 1853, foil
1886
e New Orleans, June Goth, 1921.
81 ROBT. SCOTT.
Deputy Recorder
: true copy:
! New Orleans, La, July 10, 1921.
III EUGENE ID. SAUNDERS,
Z lSEAL) Notary Public
, July 21-Aug. %.
: CHARTER OF THE GULF LAND