The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-24
ACT OF INCORPORATION OF THE
BROWN SUGAR 4 MOLASSES COM
PANY, NC, MARCH 10th, 1871.

United States of America, State OF LOU
isiGna, Parish of Orleans, City of New Or
leans Be il known. That on this tenth day
of the month of March, In the year OF our
Lord. one thousand, nine hundred and
twenty-One: before me. Walter IL. Hamlin,
a notary public, in and for the Parish OF
Orleans, State of Louisiana, duly commits
stoned and qualified, and in the presence
of the witnesses hereinafter named and un-
dersigned. personally came and appeared
the persons whose names are hereunto sub
scribed. who seyerally declared, that, avail
ing themselves of the provisions Of the
laws of the State of Louisiana, relative TO
the organization of corporations, they have
covenanted and agreed, and bind them
selves, as well as such other persons who
may hereinafter become associated with
them, or their successors, to form and con
stitute a corporation and body polite in
law, for the objects and purposes, and un-
der the agreements and stipulations fol-
lowing, to-wit:
ARTICLE 1.-The name, style and title
of this corporation shall be The Brown
Sugar & Molasses Company, Inc, and I'M
der that corporate name il shall have and
enjoy all the rights and privileges granted
by law to corporations; IL shall exist for
a period of ninety-nine years from and
after the date hereof.
ARTICLE 1.-THE domicile of said cor
poration shall be in the City Of New Or
leans, Parish of Orleans, State of Louis
lana, and all citations and other legal
process shall be served upon the President
of said corporation, and, in case of his
absence, upon the VicePresident, and, in
the case of the absence of both of these
officers, upon the Secretary thereof.
ARTICLE HI.-The objects and pur-
poses for which this corporation is es-
tablished, and the nature of the business
to be carried on ny II, are hereby declared
to be, to carry on general commission
business, and to buy sell, and deal in
molasses, sugars, syrups, merchandise,
goods, wares, food commodities and prod
ucts Of every sort, kind or description. as
commission merchandise brokers and COM
mission merchants and brokers, and as
buyers, sellers and dealers; to buy, sell
and lease plants, tank cars, tank barges.
tank vessels to erect storage and canning
plants, and any and all appurtenances and
purposes of the company to have branches
at any points necessary, either in the
United States or elsewhere. for the sue
cessful operation of said business.
ARTICLE Iy.-The capital stock of this
corporation is hereby fixed at the sum OF
twenty thousand $50, 0OO.O0) dollars, di-
vided into two hundred shares of the par
value of one hundred dollars ($100.00) each,
each share to be paid for In such manner
as the Board of Directors may determine
rhe amount of the capital stock may be
increased to one hundred thousand dol
lars OO,0000O, and the said corpora
ton shall be authorized to begin business,
and shall be a going concern when fifty
per cent of its capital stock all have been
subscribed, and fifty per cent Of all stock
subscribed for shall have been paid in.
All sales and other transfers of any of
the stock of this corporation shall be void
unless said stock shall have been previ-
ously offered to the then existing stock
holders through the Board of Directors,
at p stipulated price, and IL the Board, for
the said stockholders, does not see fit to
purchase said stock, then ii shall not be
terms, without likewise offering 1t to the
Board at such price, and upon said terms.
In case of sale or transfer Of stock, or the
issue of increased capital stock, the then
holders of stock of the company shall have
the right to purchase said stock in the
ratio of their holdings Of stock of the COM
pany. No sale or transfer Of stock shall be
binding upon the corporation unless made
upon its books, and said transfer. shall be
made only upon Surrender or proof of less
or destruction of the outstanding eertif-
cate.
ARTICLE VAN the corporate powers
and authority of this corporation shall be
vested In and exercised by Board Of Di-
rectors, composed of not less than three
stockholders to be elected annually by bal
lot at a~general meeting of the stockhold-
ers on the second Monday in March, of
each year. No failure to elect Directors
shall be regarded as forfeiture of this
charter Any vancancy occurring in and
on said Board shall be filled by the re-
naming Directors for the unexpired term.
Said BoardDof Directors shall at the first
meeting after its election elect from among
its number a President, vice-President,
a Secretary and Treasurer, and the men,
bers of said Board of Directors shall have
the power and authority to combine one
or more Of the above Offices, in one per-
son.
ARTICLE Vino stakeholder shall ever
be held liable for the contracts, faults or
debts of said corporation in any further
sum than the unpaid balance due to the
corporation on the shares of stock owned
h. GhaI t~.<z a..
organization have the effect Of rendering
his charter null, or Of exposing a stock