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

which may be altered. amended or chanStu
as the exigencies of the case may require.
ARTICLE VII.-The stock of this cor
poration may be transferred provided
such transfer shall be recorded upon the
books of the corporation before II shall
be required to recognize the transfer or
the new holder of said stock. The total
amount of the subscribed stock, as herein
set forth, is the. sum of Two hundred
thousand $500, 000OO) Dollars, which Is
hereby authorized to be issued fully paid
and worcestershire, for cash, or in eX-
change for property or services. according
to law. That, save as hereinafter pro-
vided, no share or interest in the company
shall at any time be transferred TO any
person not already a shareholder, so long
as any shareholder is willing to purchase
said share or interest AT the prescribed
price. That in order to ascertain whether
any shareholder Is Wiling 10 purchase
any such share or interest, the person,
whether a shareholder of the company or
not, proposing to transfer the same, hereln.
after called the retiring shareholder
shall give notice in writing 10 the company
that he desires TO transfer the same, ana
such notice shall constitute the company
his agent for the sale of the share or other
interest to any shareholder or the coMpan!
at the prescribed price. That II the COM
pany SHALL within the space of thirty days
after such notice find shareholder deslr-
ing to purchase such share or interest
hereinafter called the pure haslng snare
holder" and shall give notice thereof 10
the retiring shareholder, he shall be bound
at such time within fifteen days thereafter
as the company shall appoint upon pay
ment of the prescribed price, 10 transfer
such share or interest to the purchasing
shareholder. That If in any case the re-
firing shareholder after becoming bound
as aforesaid. makes default in transferring
such share or interest, the company may
receive the purchase money ana snail there
upon cause the name of the purchasing
shareholder to be entered upon the reg
lister as the holder of such share or inter
est, and shall hold the purchase money IN
trust for the retiring shareholder, his eN-
ecutors, administrators, or assigns, ana
the receipt of the company for the pur-
chase money shall be good dis
charge to the purchasing shareholder, ana
he shall not be bound 10 see 10 the APP
plication thereof, and after the name OF
the purchasing shareholder has been en-
tered in the register in purported exercise
of the aforesaid power, the validity OF the
proceedings shall not be questioned by any
person, and the purchasing shareholder
shall be deemed and taken TO be the owner
of the said share or interest. That the
prescribed price shall mean the amount
paid in on such share or interest, plus the
proportionate part Of undivided pronts,
provided that ii instead of there being I'M
divided profits there exists an impairment
of capital of the said company, then the
proportionate part of such impairment
shall be deducted from the amount paid
in upon such shares or interest in ascer-
tanning such prescribed price. That the
notice Of desire to sell stock as aforesaid,
allow the other shareholders the oppor-
tunity to take same in proportion 10 their
respective holdings of stock in the COM
pany, making all necessary adjustments 10
! avoid fractions of shares, and for that
! purpose giving the preference in all cases
to shareholders who have the largest hold
\ ilgs.
| ARTICLE yIII.-This charter may be
modified, altered, the capital stock there
| of increa sed, or decreased, or the corpora
| ton may be dissolved with the assent OF
| two thirds of the capital stock present or
| represented at any meeting Oh the STOCK
| holders held for that purpose, after prior
notice In writing TO each stockh0lder, or
mailed to him at his last known postofhce
| address, all in accordance with the terms
| of Act 261 of 1914.
! ARTICLE IX.-At the expiration of this
| charter, or the earlier dissolution of this
corporation for any cause, its affairs shall
be liquidated by two or more hquldators
TO be elected by the stockholders, all OF
whom shall hold stock in said company
and said commissioners are hereby vested
with full power and authority TO hquidate
the affairs of said company, with full pow
er to act.
ARTICLE KIN order that this charter
may serve as u subscription list the I'M
dersigned incorpOrators OF this corporation
have subscribed for the number of shares
set opposite their respective names. The
subscription to said capital stock by j.
Eugene Pearce shall be wholly paid for
in property and good will to be exchanged
and transferred to this corporation by him
I'm connection with said subscription OF j.
| Eugene Pearce, and the exchange OF sand
property for stock, there is annexed TO this
act of incorporation, and to be read III
connection Herewith, an accurate, detailed
and itemized description of such property
| as to amount, location, extent, character
and state of improvement. together with
a statement of its value as appraised by
the directors, and a statement of the value
placed upon the good will included in
said capital stock.
/ Thus done and passed, in my office, IN
the city of New Orleans, on the day, month
and year first above written, In the pres
ence Of j. n. Swing and Arthur Con-
doure, competent witnesses, and me, no
tary, after due reading Of the whole.
Il ORIGINAL SIGNED:
J. Eugene Pearce, nineteen hundred and
mann, one share a. st. Clair Adams, one
share %.
witnesses: J. n. Swing, Arthur Con
doure.
Notary Public.
I, the undersigned, Recorder of Mort
cages, in and for the Parish of Orleans
State of Louisiana, do hereby certify thai
the above and foregoing Act Of Incorpora
ton Of Josiah Pearce & Sons OF Louisiana
incorporated, was this day duly recorded
in my office, in Book 1858, folio =, New
o tsIGNED SlA RoBT. SCOTT,
by. Rec.
FRANCIS P. BURNS,