The herald., 1921-01-27
CHARTER.
CHARTER OF The TRIPLE PROOF
LEATHER Betting COMPANY, INC.

CHARTER OF The TRIPLE PROOF
LEATHER Betting COMPANY, INC.
United States of America, State of Lou
isiana Parish of Orleans, City of New Or
leans. BE it known, That on this thlrd
day of the month of January, In the year
of Our Lord, one thousand nine hundreu
and twenty .One, and of the Independence
of the United States of America, the one
hundred and forty fifth, before me- w
Morgan Gurley, Notary PuDhc, uuIy CON- COM
missioned and sworn, in and for the Clty
and Parish of Orleans, therein residing,
and in the presence of the witnesses mere
matter named and undersigned, personally
came and appeared, the several persons
whose names are hereinafter subscribed,
all of full age of majority, who declared
that, availing themselves of the provisions
of the Constitution and laws OF this state
relative to the organization of corporations
they have coyenanted and agreed ana DO
by these presents, covenant and agree TO
form and constitute themselves into a cor
poration and body polite in law, win such
persons as may hereafter become assOci-
ated with them, for the objects and pur-
poses and under the articles, agreements
\ and stipulations following, which they
adopt as their charter, to-wit:
ARTICLE 1.-The name and style Of this
corporation shall be Triple Proof Leather
Betting Company, Incorporated, with Its
dOmicile in the City of New orleans, Lou
isiana, and under that name 1t shall have
and enjoy all the rights, advantages ana
privileges granted by law to corporations,
and shall exist for the full term and period
of ninety mine years from the date hereof
1t shall have power to contract, sue ana
be sued; to make and use corporate seal,
and the same to alter or break at pleasure;
TO own, hold, receive. loan, lease, purchase,
sell and convey, as well as mortgage ana
hypothecate and pledge property, both real
and personal, and mixed, cOrporeai ana
incorporeal; borrow money and issue evil
dence of Indebtedness, secured and I'M
secured; to name and appoint such mana
! gers. directors, officers, agents and other
employees as its interests ANDY convenience
may require, and to make and establish, as
well as alter and amend, from time to
time, such bylaws, rules ana regulations
as may be necessary and eXpedient for the
5 proper management and government of the
affairs of the said corporation, and gener-
ally TO have, enjoy and exercise any ana
ell rights and privileges granted or al
lowed by the Constitution and laws OF TINS
State to similar corporations, and do any
A and all acts and things necessary TO carry
on its business or that its interest and con-
yehence may require.
4 ARTICLE 1.-THE objects and purposes
4 for which this corporation is formed and
the nature of the business to be carried on
by Il is hereby declared to De: To manu-
facture and deal in leather, leather belt
4 ing, and any and all leather goods, and
4 every kind of betting, and articles thereto
allied or into which leather may enter, or
be part of: To buy, sell, receive, ALLEVIATE
il and deal In any and all leather speciaitles
TO tan, treat and prepare, hides, skins and
pelts of all kinds and to buy and sell and
A deal in same. 1t shall have the right to
j deal in any nature of merchandise al
wholesale or retail, and to pledge, pawn oil
mortgage any Of its property, movable OF
immovable personal or mixed, corporal
and incorporeal and to do all business and
3 things, incidental or pertaining to said
manufacture, merchandise and business.
!. ARTICLE III.-The capital stock of this
n corporation is hereby fixed at the sum OF
II fifteen thousand ($15,0O000) dollars, to b'
Z divided into, and represented by one hun
dred and fifty $50 shares Of the par value
of one hundred dollars (s100O0) each, pay
i able in cash or its equivalent.
3 The subscription of r. A. Usina, 33l;
Z Carondelet Street TO las shares Of the CAPT
\ tai stock Of this corporation of the pal
value of $4,000 per share is declared 10 b'
paid I'm full as follows: $3iOO.OO in cash
n and the balance of $l1,100.OO, is paid by
81 property detailed and itemized on the at
y tached list or inventory of merchandise
;. shop machinery, furniture and fixtures
4 which property Is appraised by the III
F rectors herein named at the sum of SILL
"a 10000 eleven thousand, one hundred dol
= lars
The capital stock of this corporation may
a be increased to the sum of one hundred
thousand dollars CS1O0, 900. 00). divided int
"a one thousand shares of $4,000 each. Thi:
i corporation shall be authorized TO com
mence business and be going concern al
3 soon as half of its capital stock has beer
X subscribed and paid for. should any
4 stakeholder desire to sell his stock, ne shall
y first offer the same to this corporation
\. through its Secretary Treasurer at its
u. Book value. and the stockholders who de
8, sire to purchase shall have the right &c
u purchase same In the proportion TO theii
'ai respective holdings of stock In the com
81 pany. Should any stakeholder not wish e
"A purchase his proportionate share, then his
E share shall be offered to the other stock
~ holders proportionate to the number Of
Vi shares owned by them. should this cor
FL poration. or said stockholders, in ten days
~ after notice having been given in writing
q. fail or refuse to purchase the stock offered
y for sale, such stock may be sold TO any
one. No transfer of stock shall be made OF
n held to be valid and binding unless made
NJ in pursuance to the provisions of tht:
y charter and on the books of the company
}f ARTICLE Iv.-All the corporate powers
= of this corporation shall be exercised by
y aud vested in Board of three Directors
81 each of whom shall own in his own nam'
e at least one share of the capital stock an
"a pledged Any two OF said Directors shall
III constitute a quorum for the transaction OF
III all business. The first Board Of Director.
IN IS declared to be f. Aubriel Usina, So;
ID Carondelet Street, New Orleans, La; vii
~ liam s. Launstein, AGO Arts Street, New
~ Orleans, La; +. Adbriel Usina. Jr., 60l
~ West 1S7th Street. New York, New York
u with the said T.. Aubriel Usina, as Presi
- dent and Treasurer, the said William
N Launstein. as Vice President. and the Sec
. rotary shall be elected by the Board at its
first meeting.
= Which said Board ~ Directors and Of
"a ficers shall hold their Offices until the first
y Tuesday in December. 1921, at which time
and annually thereafter, the stockholders
shall elect directors, and the said directors
o1ah proceed as soon as possible there
NJ to elect the officers as herein pro-