The herald. [volume] (New Orleans, La.) 1905-1953, 1921-05-26
CHARTER.

|
and the nature of the business to be acr
ried on by il. are hereby declared TO be
to deal in, buy, sell. cOnsign and receive
on consignment. building materials of al
character; to operate mills ana factories
for the manufacture of articles Of wood
| cement, plaster. etc. including the manu-
facture of buildings for ready erection; Il
purchase and sell real estate; to develop
lands by the creation of sub divisions; t.
erect buildings for sale on terms; and
generally to do and engage in any Other
| business, undertaking or enterprise con
| nected with, growing out of, germane OF
incidental to any of the purposes herein
above set forth, or contemplated by this
charter.
ARTICLE " The capital stock of
| said corporation is hereby fixed at fifty
! thousand dollars, divided into five hun
| dred shares OF the par value of one hun
dred dollars each. All shares Of stock
shall be fullpaid and on-aSsesSable. No
! transfer of stock shall be binding upon
the corporation unless made upon its
books and all certificates of stock shall be
signed by such officers as may be de
signated by the Board of Directors.
This corporation shall have the right to
Increase its capital stock to a further sum
of one hundred thousand dollars, to be
divided into shares of one hundred dol
lars each, provided said increase in the
capital shall have been authorized by the
stockholders at a meeting to be held pur-
suant TO the provisions of Article V, of
this charter.
ARTICLE V-An the corporate powers
OF the company shall be vested in, and the
management and control of its affairs shall
be exercised by Board of Directors COM
posed of three stockholders, the member
snip of which may be increased to Il num-
br not exceeding five, at the discretion of
the Board of Directors. a majority OF the
directors shall constitute a quorum for
the transaction of all bushes The di.
rectors shall be elected annually by bal
lot on the third Thursday in May of each
year. Each stakeholder shall be entitled in
share owned by him. and all elections
shall be held under such rules and regula-
tions as may be determined by the Board
OF directors, after fifteen days notice by
mail of such election shall have been sent |
to each stakeholder at his last known ad- |
dress. The directors thus elected shall |
continue In office for one year. or until /
their successors shall have been duly !
elected and qualified. No failure TO elect |
shall be regarded as a forfeiture of this |
charter. Any vacancy occurring on said |
Board shall be filled by the remaining di- |
rectors for the unexpired term; the said !
board shall likewise elect the additional |
members in case they should determine TO
increase the number of said Board Said
Board OF Directors at its first meeting
il.er IT'S election, nominate out of its num-
Der, President, Vice President and a
Secretary Treasurer. Ii NAV divide the
functions of the last mentioned officer and
nay elect Secretary who need not be
timer a director or stakeholder. Said
5oard shall have the right to appoint and
DISMISS such clerks, managers and other
employees or the corporation. including the
ecretary who is not stakeholder as con-
Itlohs may justify or the business of the
orpOratlon may require. The tenure of
nice OF all the employees of the corpora
ION snail be during the pleasure of the
ioard of Directors
ARTICLE VINO stakeholder shall ever
~ held liable or responsible for the CON !
rdcts; taults or debts of said corporation,
or small any mere informality in its or ! ,
anlZatfOn have the effect of rendering This
u hrter null, or OF exposing stakeholder /
any liability beyond the unpaid balance ,
ue on the shares owned by him. .
ARTICLE vII-This act of incorpora-
on may be changed, modified or altered
'nIs corporation may be dissolved with q
ie assent OF the stockholders owning two :
iirds OF all the stock of the corporation 4
general meeting convened for that n
urpOse, and after at least fifteen days' q
~ nolre OF this meeting has been a
wen through mail, addressed to each r
'sidence. VI
ARTICLE VIII-Wheneyer this cornora. "A
on snail be dissolved from any cause its o
Iairs shall be liquidated by three stock p
o o.t 10 be appointed at a general y
eetlng OF stockholders convened for that a
lrpose OF Liquidation. as hereinafter pro- a
ueu, each share of stock being entitled p
one vote, 10 De cast either by the holder u
person or by proxy Said commissioners 4
az remain IN office until the affairs of y
10 corporation shall be fully settled and o.
iuiuateu, ana they shall have full power
~ authOrlty TO transfer and give title n,
an tne property and assets of the cor. | a,
ration ana TO distribute the proceads | ~
case or death, disability or resIpna | +
IN OF one or more commissioner or com | IN
the vacancy shall be filled by v,
'ners. Va 'oiiiiis- &C
ARTICLE IX-UntiI the next general
.etng to be held under this charter on b,
2 third Thursday Of May 1922 or until b,
ar duly qualified successors are elected FL
installed, the board of directors shall re
composed of: Roch L. E de NontIuzin | co
10 ounce Street. New Orleans la dc
ehaei A. Baccich, 1915 Soniat Street so
w orleans, La; and W. L. Yancy. 4640 tn
sic street, New Orleans La. with Tho sh
a koch 4: f. de MontIuzin as President st
SAID Michael A. Baccich. AS Vice Presi' ad
A. and the said W. l.. Yancy, as Secre- XII
n order that this charter may sarva nc 20.
original subscription list subscribers mn
-. nave indicated opposite their re- Sc
.s SIGNATURES the number of shares
STOCK subscribed by each Of them DO
nus done and passed in this Office on IN
gay, month and year. first above writ VI
!, IN the presence of Frank B. Twomev as
Joseph l.. Weiss, competent witnesses no