The herald., 1921-04-07
CHARTER.

ropns Streets and having the entire 'front.' /
age on CarOndeet Street between GraVlef
and Union Streets, upon which Is present
" being erected the steel and stone struc-
ture known or to h. known As the Hi
hernia Bank Building and to be occupied
in part by Hibernia Bank n Trust Com
pany. of New Orleans. Louisiana anu |"
assume the obligations of said building
contract and all other contracts pertain
ing 10 said construction work; ana. III
connection Herewith, 10 acquire, con
struct. own. MAINTAIN ana oprrale sdLcII
deposit vaults and vaults for the storage
of valuahlcS and other property; 10 lease
out and operate said building i'll whole or
in part rs an office building, and;
To do and perform any and all such
things and TO exercise and enjoy any or
all rights or powers as may be pertinent
or rermane to the objects and purposes
hercinbefore specifically provided for.
ARTICLE IV.-The Capital Stock of
this corporation is hereby fixed at Three
Million (S3,OO0OOOOOl Dollars dlvidtd IN
to and represented by thirty thousand
(3OOO0) shares of the par value Of one
hundred (S1O0) dollars each.
Said stock shall be paid for in cash at
such time in such amounts ana alttr
such notice 10 the subscribers as may nt
fixed by the Board of Directors. or III"
same may be issued a. not less thah
par for labor done or property actually
received 10y the corporation.
This corporation shall become going
concern and be- authorized TO do business
As soon az the fun amount of its authorized
capitaI shall have been subscribed and
paid for. The amount to which the 'all-
tal Stock of this corporation may be IN
creased shall he the sum OF FIVE Mlllloh
J Isl 600 600 OO) Dollars. which SAID IN
creased capital may be of one or more
kinds or classes of stock.
ARTICLE V.-All the corporate powers
/ of this corporation shall he vested IN ana
exercised by BOARD of Directors TO he
elected annually At general meeting
/ of stockholders to he held on the second
/ Tuesday in March of raCn year. ma
! iOrity of directors shall ut all times con
Stitute quorum for the transaction OIL
business.
All such elections shall be held by bal
10; and conducted at the office of this
corporation under the supervision OF thr"e
! commissioners, TO be appointed by the
Board of Directors.
/ Notice of such meeting and of all other
stockholders meetings shall be given in
the manner prescribed by law, and when
not so prescribed. then written notice OF
such meeting shall be deposited at least
fifteen 40 days prior to the date of said
meeting in the Post Office in the city
of New Orleans postage prepaid. address
ed to each stakeholder at his last known
residence or place of business.
At all such elections and ut all cor
poratr meetings. every stakeholder Shall
he entitled to one vote rOr each share OF
stock standing in his name on the books
of the corporation. to he cast by MN III
person or by his written proxy. and q
majority of such votes cast shall elect
/ ANY vacancy occurring among the direc'
tors by death, resignation or Otherwise
shall be filled by election for the uneN-
pired term by the remaining directors.
4 failure TO elect directors on the day
above specified shall not dissolve the cor
poration nor impair its corporate exist
ence and management. but the directors
, then in office shall remain in office unit
, their successors shall have Deem dulA
elected and qualified.
The Board of Directors shall at theil
, first meeting elect from their own mum
her President and Nice-President
They shall also elect n Secretary and
Secretary and Treasurer. either of whom
may or may not be members of the Board
, The Board of Directors may from tim
to time name and appoint all such Othe
officers, agents or employees as may ID
deemed necessary for the purposes am
business Of this corporation. The SAT-
a Board shall have the power to fix tn
: COMPENSATION and define the duties o
! every officer and employee, and all OIL
= GERS and employees shall hold office an
/, employment at the pleasure of the Boarc
The Board may make and establish. q
0 well as alter and amend any and all by
laws. rules and regulations hecessar
: and proper in its Judgment for the cor
u.
; business and affairs of this corporation
9 The Board of Directors shall have flu
a power and authority to borrow money
: execute mortgages and to create Hens
II to issue bonds. notes and other obligi
u lions, and to secure same by mortgag
: pledge or otherwise; and generally. to
y any and all things reasonable. conven
IL ent and necessary for the proper carr!
. ing on of the business and affairs OF In
a corporation.
D. At all meetings of the Board of Dire
u tors each director shall have the right
. appoint from amongst the directors
IN proxy to act in his place and stead. TT
81 Board may issue full paid shares of stot
Id for cash or in payment for labor dol
- or property actually received by said co
-S poratiOn.
le one or more committees to be cOmpoS'
X of its own members, to which committe
the Board of Directors may grant any
" all of its powers to be exercised durlI
- the interim between meetings OF q
III Board itself.
r ARTICLE vI-This act of incorporate
r NAV be modified, changed, altered
IT amended, or this corporation may be di
~. solved or the capital stock may be !
creased or decreased in accordance wi
law, at a meeting of stockholders call
for the purpose. after written notice shi
have been given to each stakeholder.
r. livered to him personally or mailed
~ him at the Post Office ADDRESS designat
Of hy him in writing. at least, fifteen u
"a days prior to the day of the meeting, u
" less other notice he prescribed by la
nv in which event notice shall be given
= conformity to law.
ARTICLE VII.-Whenever this corp0r
tion may be dissolved, either by limi,
ton or from any other cause, its affai
shall be liquidated by three commissions
. TO be appointed from amongst the sto'
=. holders at a general meerrng of the sto'
holders convened for such purpose.
which meeting notice shall be given in
manner and time provided for stockho
OF ers' meetings by Article V of this chart
ew and a majority of the capital stock
lst this corporation present and represent
EAR at such meeting shall be requisite
ed elect The said commissioners shall
ice main in office until the affairs of {
me corporation shall have been fully 10
AL dated. In case of the death or resigl
IN ton of one or more of said commissi
or ers the vacancy or vacancies shall
ng, filled by the survivor or survivors.
ed, the event of any disagreement among $
re- commissioners. the action OF the
on jority shall control and prevail. )
err commissioners shall hold all powers C
ub- ferred upon them by law or by the sto
lat, holders at such meeting, IL not incon
the tent with law.
.nu ARTICLE vIII.-No stockhINler 81
rs ever be held liable or responsible for
the contracts faults or defaults Of said {
rs | poration in any further sum than the
hey paid balance due the corporation
Wy | shares of stock owned by him, nor 81
s,Ta 1olt In n