The herald., 1921-12-08
CHARTER.

I or ObTigatIOnS MtRUIIHDTE
| to have and employ such managers, d.
rectors, officers, agents and other en-.
| ployees as the interest and convenience OF
| said corporation may require or uemanu'
to make and establish such bylaws rules
and regulations for the corporate man
| agement and control Of the affairs OF the
corporation as may be deemed necessary
and expedient.
| ARTICLE 1.-THE domicile or said
corporation shall be established in the
City Of New Orleans, in this State, and all
| citations and other legal process shall be
| served on the President. and, in his alb
1 sence on the yice-president.
| ARTICLE III-The objects and pur-
poses for which this corporation is or
| ganized and the nature of the business
| to be carried on by 1t are hereby declared
to be: to engage in the general exporting
| and importing business, particularly TO
receive on consignment and 10 consign
cotton and other products and to execute
all orders for the purchase or sale OF cot,
ton for present or future delivery, and
/ generally to engage In conduct and pro-
| mote such other business or enterprise as
may be germane, incidental to. or may
| grow out of, the concern contemplated
| by this act.
this corporation is fixed at the sum Of
| Twenty-Five thousand (s25, 00O.0O) Dol
lars, divided into two hundred and fifty
| shares of the par value OF one hundred
| dollars each. All shares of stock shall
| be full paid and worcestershire. No trans
| fer of stock shall be binding upon the
| corporation unless made upon Its DOCKS
and all certificates of stock shall be sign
| ed by such officer as may be designated
| by the board of directors.
| This corporation shall have the right to
| increase its capital stock to further sum
| Of one hundred thousand (S10O.0000) dol
lars, to be divided into shares Of one hun
bred dollars each. provided said increase
| in the capital stock shall have been au-
thorized by the stockholders at a meet
ing to be held pursuant to law.
! ARTICLE v.-AH the corporate powers
| Of the corporation shall be vested in, and
| the management and control Of its affairs
shall be exercised by a board Of directors
! composed of three stockholders, the MEM
| bership of which may be increased to a
number not exceeding seven, by the
! board of directors at any of its regular
| meetings. A majority of the directors
| shall constitute a quorum for the trans
action of all business. The directors shall
be elected annually by ballot on the first
! Tuesday in November in each year. Each
! stakeholder shall be entitled, in person
or by proxy, to a vote for every share
owned by him and all elections shall be
held under such rules and regulations as
may be determined by the board of direc-
tors. 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 remain
ing directors for the unexpired term; the
said board shall likewise elect the addi-
tiOnal members in case they should deter
mine to increase the number of said
board. Said board Of directors shall at
it's first meeting after its election. nomi-
nate out Of its number, a president, a
vice president and a secretary treasurer.
1t may divide the functions Of the last
mentioned officer and may elect secre-
tary who need not be either a director or
stakeholder. Said board shall have the
right to appoint and dismiss such clerks,
managers and other employees of the
corporation, including the secretary who
justify or the business Of the corporation
may require. The tenure Of office of all
the employees Of the corporation shall be
during the pleasure of the board of d.
rectors. Any Of the directors shall have
the right to appoint. by written instru-
ment another directors or STOCKHOLDERS
to act as his proxy and In his stead at
any and all meetings Of the board of
directors.
ARTICLE VINO stakeholder shall
Ter be held liable or responsible for the
contracts, faults or debts Of said corpor-
alton, nor shall any mere informality in
its organization have the effect of rem
dering this charter null, or OF exposing
10 any lidDlllIg DeyOnu ING
unpaid balance due on the shares owned
by him.
ARTICLE VII.-This act of incorpora-
ton may be changed, modified or altered
or this corporation may be dissolved,
with the assent of the stockholders own
ing two-thirds Of all the stock of the cor
poration at general meeting convened
for that purpose, and after at least ten
days written notice Of this meeting has
been given through mail addressed to
| ehara at hio In p1aea
| of residence. In case of dissolution by
the expiration of this charter or other
wise. the stockholders shall elect three
liquidators from among their number, to
liquidate and settle the business and af-
fairs of the company. In case Of death
or disability of any one Of said commits
sioners or liquidators, the survivors or
the remaining liquidators shall appoint a
shall have full power to settle the COM
pany's affairs. collect outstanding debts
sell and convey property. pays its debts
and divide the remaining money and
shall also have power to meet and act
under the bylaws of the corporation and
under regulations to be made by ma
jority of said hquidators; to fix the price
property, and the manner in which the
sale shall be made, and take notes and
bonds secured by mortgage, and other
wise. for part Of the purchase price for
MI OF any part OF Sa10 property, PROVIDED
however. that the rights herein conferred
upon the liquidators may be modified
changed or denied by a majority Of the
shares Of the capital stock Of the cor
poration. The said liquidators shaft have
the authority to sue for and recover the
debts and property In the name Of the
corporation and may be sued in the same
name, and they shall be liable in solidc
to any creditor or stakeholder for the
monies and property Of the corporation
; which shall come to their hands or pos
session as liquidators and for the proper
application and distribution thereof.
ARTICLE vIII.-The entire capital
stock of this corporation has been sub.
scribed at the time of the signing Of this
charter as follows: John Ernest Stahel
whose address is Metairie Ridge, JEFF
ferson Parish. La. 80 shares: Mrs. KATE
Klumpp-Stahel. whose address Is Metairis
Ridge. Jefferson Parish, La, $50 shares
and Harry F. Stahei. whose address Il
Metairie Ridge, Jefferson Parish, La,
50 shares.
ARTICLE IX.-Untii the election to b.
held in November, 1922 the following
shall constitute the first board Of direc
tors. viz: John Ernest Stahel, president
Mrs. Kate Klumpp- Stahel, vice-pre
dent, and Harry +. Stahel, secretary
treasurer.
Thus done and passed in my office
on the day. month. and year first above
mey and Joseph L. Weiss, competent wit
nesses. who have signed with the ap
bearers and me, the notary, after readinf
| the whole.
Original signed: Mrs Kate Stahel. IS
shares: T. e. Stahel 30 shares: Harry II