The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-28
CHARTER


,turAnOIdcrS. aud 4 majority " the dIrcC-
tors at ANY time in GuIcc, elther present
IN person or represented by prsNy, luclud-
ing the president and other Ohi'tTS, shdit
constitute quorum.
The said board of directors shall elect
from among their number president. Il
vice president a secretary, treasurer anu
a general manager. The Office OF treasurer
ANA general manager may be combined by
the board and nllrd by one ana the same
person. Neither the secretary, nor treas
urer and general manager need necessarily
be members OF the board Of directors.
The board of directors shall have the
full and complete control of the property
OF this company and they ShdI conduct.
manage and use the same as IL their dis
erection they may deem best II not neon
siStcnt with the objects OF the company
and the welfare OF the same. The said
| board of directors shall have tnc iurthTr
power to make, alter and annul such by
| laws. rules and regulations for the govern
meut of this corporation, As they may
| think proper.
| The board of directors shall have the
| further power to appoint all agents clerks
| or employees and hN their salaries anu
! condensation. with term of ohl"e, win the
| right To dismiss them at pleasure anu inc
| said board shall have the further right 10
| r\ and determine the salaries ~ The
/ several officers herein provided lor' pro
! yidrd. however, that the board OF dir'N-
tor, may delegate such powers to the preSi-
dent or general manager OF he corpora
il4
eel 10y said board and consisting o. not
less than three directors.
Any vacancy occurring on toe board of
directors shall hc hllrd by the remaining
members OF said board for the ur"Npr"d
term. at any meeting of SAID board OF ul-
TsrtOr~.
AETICLE VII-The FIRST board Of dircc.
tors of this corporation is hereby hNcd at
| six 90 in number and shall be composed
Of: f. l.. Williams, whose post office ad-
dress il New Orleans, La; J. ii. Murphy,
whose post office address is New Orleans.
, La; G. ). Williams, whose post office ad-
! dress is New Orleans, Lat; &. ID. kemper.
/ whose post Office address is Franklin, La.
Frederick Wilbert, whose post office ad-
dress is Plaquemine La; j. ii. McCardell.
whose post Office address Is Franklin La.
, | with the following officers who shall serve
! until the first annual meeting Of this cor
poratiOn on the first Monday in, March,
!, 1872. or until their successors shall have
1 been elected qualified and installed: +. Il
, Williams, president; J. ii. Murphy, vice
president; g. ). Williams, secretary; 4. ID.
{ Kemper. treasurer and general manager.
Said board of directors shall serve until
; the first netting of the stockholders for the
! election of directors, or until their success
sOrs are elected. qualified and installed.
% ARTICLE VIII-On the first Monday in
Il March, 1922, and annually thereafter on the
n | first Monday of March i'll each year, a
n ! meeting of the stockholders of this cor
: poration shall be held at its domicile for
the purpose of electing directors for the
r.,
:, stockholders shall have the right ~
II cumulative voting in the election of dirac
;, tors and shall have the right Of electing
II the number of directors then in Office, and
l. ii there be not many as seven directors
= then in office. shall have the right of elect
, ing additional directors 50 long as the fun
/ number of directors elected does not eN-
: coed seven. y failure from any cause
whatsoever to hold the annual meeting or
e, stockholders, or the failure to elect direc-
n tors thereat, shall not dissolve tins cor
s. pOration, but the directors and Onii ers
s. then in office shall remain in office until
,r their successors shall have been respec-
II lively duly chosen, elected, qualined and
v installed.
- ARTICLE IN-The capital stock of this
= corporation shall not be issued except for
ID labor DONE or money or property actually
% received; and il is hereby declared that the
;, stock subscribed for herein by the OAK
lie Blum Planting and Manufacturing Com
N pany, Ltd, and the Sterling Sugar *
Is Railway Company, Ltd, shall be paid for
n in property, as follows:
In payment of the subscription Of one
l. thousand three hundred and fifty (l3JO)
4 shares of the preferred stock of this cor
ne poration and one thousand four hundred
l. and ninety eight 1I9S) shares of the com
5, mon capital stock of said corporation sub
ne scribed by the Oak Bluff Planting &
Or Manufacturing Company, Ltd, the said
ne Oak Bluff Planting N Manufacturing Com
s. pany, Ltd, agrees to sell and TINS SAID
L corporation agrees to buy and Is hereby
u authorized to acquire, to receive and take
Id title to, free of any and all encumbrances,
sc certain sugar plantations, properties and
es improvements thereon, and appurtenances
e. thereof. ETC., an accurate. detailed and
y, itemized description OF which said prop
b. erty, real, personal and mixed to be ac-
uulred and purchased by this corporation
D. IN exchange for said stock as to amount,
by location, extent, character ana state OF I'M
We provement. is hereto attached, made part
rs hereof anu marked Exhibit a; ana the
w parties named herein as the board OF d.
n rectors of this corporation do hereby de-
OF 81 arr that they have examined said prop
NO erty, ana DO hereby appraise the value
o. thereof at not less tnan two hundred and
n eighty four thousand, eight hundred t$zo4,-
ed ovv.UvJ Dollars; ana the president OF tnis
ed corporation is hereby authorised TO ac'
in quire said property on behalf OF this cor
4 = poration from the said Oak Blum Planting
fr. | & Manufacturing Company, Ltd, and issue
.es pr cause TO be issued In payment thereoi
ue one thousand three hundred and nfty
re- | (I350) shares of full paid preferred STOCK
on OF this corporation and one thousand foul
Nh hundred and ninety -egiht Q49S) shares OF
be the full paid common capital stock OF sale
ID corporation.
nd In payment Of the subscription of hvs
fer thousand five. hundred ana nifty -thres
be l5553) shares of the preferred capital stock
de of this corporation and six thousand nv,
~ hundred and ninety three (6593l shares Of
the common capital stock of this corpora
re- ton subscribed for by the Sterling sugar
to q hallway Company, Ltd, the said Steri'
to ing Sugar * Railway Company, Ltd.
tie agrees to buy and Is hereby authorized "a
he acquire, receive and take title to, free oil
n | any aud all encumDrances, n certain sugar
ch factory and refinery, together with certain
vi sugar plantations, properties and improve
ON ments thereon and appurtenances thereof
cd etc, an accurate, detailed and itemized
nv description of which said property as Il
m. amount, location, extent, character and
ia | state OF improvement is hereto attached
Of made part here of and marked Exhibit
nf b." and the parties named herein the
nv | board of directors of this corporation do
10 | hereby declare that they have examined
,c | said property and do hereby appraise the
cd value thereof at not less than one million
or | two hundred and fourteen thousand 81,
ali hundred tS1,214 10000 Dollars, and the
on president Of this corporation Is authorized
IA | to acquire said property on behalf of THU
he corporation from the said Sterling Sugar
Ter IL Railway Company, Ltd, and issue Of
set cause to be issued In payment therefor
,ck nHe thousand five hundred and fifty-thre'
70 t5JJ3) shares of the full paid preferres
capital stock of this corporation and sil
thousand five hundred and ninety -tbre
on ,dJ shares of the fulpa i'd common CAPT
ols tai stock of this corporation.
me ARTICLE X-This charter may b
70 amended, and the capital stock OF thi
wi corporation may be increased decreased
nm or this corporation may be dissolved 4
md the method and manner provided by Law
the ARTICLE XI-NO stakeholder of thi
| ha haIA lfahI