The herald., 1921-01-27
CHARTER.

| ARTICLE III-The objects and pur-
| poses for which this corporation is formed
and the nature of the business to be car
| ried on by il is hereby declared to be; 10
| buy, SELL lease, build, equip, repair and
| outfit ships and vessels, foreign and do
| nestle boats, barges, vessels and water
| craft of every description, and to operate
| same for its own account or for others.
/ to buy. sell and manufacture, and 10 deal
| in at wholesale or retail for its own ac-
/ count. or as agent or otherwise, in all
kinds and character of wood, metals or any
| other material, merchandise, etc; to buy.
| sell and generally to deal in all kinds OF
machinery engineering and marine. also
| in any kind of machinery and wood or
| metal specialtieS. and all kinds of engines,
! steam, internal explosion, gas engines ana
meters, electrical engineering apparatus,
pipes, valves, fittings and steam and other
| specialties, and to deal in any kind and
description of transmission machinery, 10
| comOtives, draying machinery; to construct
| machines and machinery of every kind and
| character and to equip, erect and install
| same for use and operation; TO carry on
| the business of consulting engineer. to re
| pair and equip, and to fit out barges, boats,
| tugs and vessels and all manner of water
craft; and to repair, outfit, install ana
| equip any machinery and all other work
| pertaining to said water craft; to estab-
| lish and run a machine or any other KIND
| of shop or shops; to make any contracts
| to do any of the work or works herein
| specified; to build and erect docks or
| other business or enterprises or to build
and operate roads and tramways, steam
or otherwise to be used in connection with
said business; to buy, sell, build, equip,
operate any and all kinds of aircrafts and
to buy, sell, or build machinery, and equip
ment necessary therefor, or in any way
pertaining thereto, and to operate said
crafts.
ARTICLE-IV.-The capital stock of this
corporation is hereby fixed at the amount
1 Lee -, ,.,I l,1In Asx-sI aA anfn N
| hundred shares at one hundred dollars,
each, which said stock shall be is
| sued and paid for as the Board of
| Directors may determine, in conformity
| with the laws provided by this State for
| the payment of capital stock; and which
| said stock may be increased to five hun
dred thousand dollars, by a rote of two
| third of the outstanding stock, and ac-
| cording to the laws of the State of Louis
| lana. Said stock may be issued full paid
! and worcestershire in payment for prop
| erty actually purchased or services act
| ually rendered the corporation. This cor
pOration shall have the right to commence
| to do business after fifty per cent of the
| capital stock has been subscribed and fifty
per cent of the subscribed capital stock
paid in. And said incorpOrators hereby de-
clare that fifty per cent of the capital
stock has been subscribed and paid Tor
| in full to said corporation. No transfer Of
stock shall be binding upon this corpora
ton. unless recorded upon the books of
this corporation.
ARTICLE V.-The business and affairs
of this corporation shall be managed. and
all the corporate powers thereof shall be
vested in and exercised by Board of hi
rectors, who shall each be a stakeholder
and said Board of Directors shall be
elected annually on the first Tuesday in
December, of each year, commencing on
the first Tuesday in December, 1921. The
officers of this corporation shall be a
President. yice-President and a Secretary
Treasurer.
The first Board Of Directors shall be
Thomas W. Burt Gordon s. Orme, and
Lucian l.. Jarreau, with the said Thomas
| W. Burt, as President said Gordon 3,
Orme, as Vice-President, and said Lucian
l.. Jarreau as Secretary-Treasurer, who
shall hold their respective offices until the
first Tuesday in December, 1921, or until
their successors are duly elected and quail
fed. The first Tuesday in December. and
annually thereafter an election of Direc-
tors shall be held at the Office of the cor
shall proceed at once to elect the officers
herein provided for. and which officers
shall be elected for the term of the Board
of Directors.
All notices of election or other meetings
of stockholders shall be sent to each stock
holder fifteen days prior to such election
or meeting, delivered in person or mailed
to their last known address.
No employees or agents of this corpora
ton shall be deemed employed by the year,
|
shall hold their positions at the pleasure
of said Board.
At all meetings of the stockholders, each
share of stock shall be entitled to one vote
east in person or by proxy, but stock
transferred on the books less than sixteen
days prior to such meeting shall not be
entitled to vote at such meeting.
= Any vacancies occurring on said Board of
Directors shall/be filled for the uDexpired
term by the remaining Directors after ten
hay of thQ m tinu col For ha
purpose.
All notices of the Board Of Directors
meetings shall be sent by mail or delivered
in person.
ARTICLE Win the event of liquida-
ton or dissolution Of this corporation, b
liquidation or otherwise, the then eyistir~
Boad of Directors shall continue as hqui-
dating commissioners and should any one
of the said commissioners lie or II he
may be disqualified, the remaining hqui-
dators shall continue liquidation.
Said corporation may be liquidated at
any time on two-thirds vote of the stock
holders at a general meeting called for that
purpose after fifteen days written notice
thereof. has been given to each stakeholder,
sent in the manner above described.
ARTICLE vII.-No stakeholder shall
ever be held liable or responsible for the
contracts, faults or debts of said corpora
ton in any further sum then the unpaid
balance, If any, due the corporation on the
stock, subscribed for by him; nor shall
any mere formality in the organization of
this corporation subject any stakeholder to
any liability beyond said unpaid balance
that he may owe on his stock; nor shall
any such informality In organization rem
der this charter null or void.
The subscribers to the charter Of this
corporation give their names, addresses
and amount Of shares by each subscribed
at the end hereof.