The herald., 1921-08-18
CHARTER.

and undersigned, personally came and ap-
peared, the persons whose names are here
unto subscribed, who seyerally declared
that, ayailing themselves of the provisions
of the laws Of the State Of Louisiana, rela-
tive TO the organization o. corporations,
they have coyenanted and agreed 10 Dlnu
themselves, as well as such other persons
who may hereafter become associated with
them, or their successors, to form and
constitute a corporation and body polite
in law, for the objects and purposes, and
under the agreements and stipuIations foI-
lowing, to-wit: .,
ARTICLE 1.-The name, style and title
of this corporation shall be THE HILL
COTTON LUMBER COMPANY, INCOR-
PORATED, and under that corporate name
it shall have and enjoy all the rights and
privileges granted by Law to corporation;
1t shat exist for 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 Lou
isiana, and all citations and other legal
process shall be served upon the President
of the said corporation, and, in case of his
absence, upon the Vice President, and, in
the case of the absence of both of these
,nICeIs, upon the Secretary thereof.
ARTICLE III-The objects and purposes
for which this corporation is organized,
| are declared to be, for the purpose OF
buying and selling lumber, sand, gravel,
| cement, lime, paints, yarnishes, brushes,
and building material generally, to lease
and hire, purchase and convey, mortgage
and hypothecate all real estate, necessary
| for the conducting and carrying on of said
business, and generally to do every act
and thing necessary to carry out the OBJ
jects and purposes for which this corpora
| ti0n organized.
| ARTICLE Iy-The capital stock of this
| corporation is hereby fixed at the sum OF
Ten Thousand Dollars $4,000, divided
into one hundred shares of the par value
of One Hundred Dollars (S100) each each
| share to be paid for in such manner as
the Board of Directors may determine
| The amount of the capital stock of this
corporation may be increased to Fifty
Thousand Dollars (S5OOOO) Dollars, and
the said corporation shall be authorized
to begin business and shall be a going
concern when fifty per cent of its capital
stock shall have been subscribed and fifty
per cent of all stock subscribed 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 previously
offered to the then existing stakeholder.
ulated price, and IL the Board, for the said
stockholders, does not see fit to purchas,
said stock, then 1t shall not be sold at
less price, or upon more favorable terms
without likewise offering 1t to the Boart
Il such price and upon said terms. In cas-,
OF sale or transfer of stock, or the issu,
of the increased capital stock, the theI
holders Of stock of the company shall hav,
| the right to purchase said stock in tn
ratio of their holdings Of stock of the com
pany. No sale or transfer Of stock shall
be binding upon the corporation unles
made upon its books, and said transfe
shall be made only upon surrender o
proof of loss or destruction of the out
standing certificates.
ARTICLE Vail the corporate power
and authority of this corporation shall b.
vested and exercised by a Board of Di
rectors composed of not less than tire
stockholders, to be elected annually by
ballot at general meeting Of the stock
holders on the second Monday in Septem
ber Of each year. No failure to elect Di
rectors shall be regarded as forfeiture o
TINS Charter. Any vacancy occurring il
and on said Board shall be filled by tn
remaining Directors for the unexpire
term. Said Board Of Directors shall a
the first meeting after its election cleo
from among its number President,
'lce-President, Secretary and Treasurer
ARTICLE VINO stakeholder shall eve
: pc heid liable or responsible for the con
tracts, faults or debts of said Corporate
, In any further sumthan the unpaid balanc
Que to the corporation on the shares .
STOCK owned by him, nor shall any mer
informality in organization have the effe,
of rendering this Charter null. or of e,
posing stakeholder to any liability bt
|. yohd the amount of his stock.
( ARTICLE vII-The following name
4 persons shall constitute the first Board .
directors to serve until the second MOI
day in September, 1922 or until their SUI,
!, cessors shall have been elected and ouaI
ned, to-wit: Lincoln J. Cotton, President
Eieanor u. Hill, Vice-President; Robert
!. hill, Secretary and Treasurer.
khe persons whose names are hereunds
= subscribed, are hereby declared to he N
1ncorporators Of this corporation, and hay
respectively written opposite their nam,
ana addresses the amount of stock sui
!. scrioed Tor by each Of them, SO that ii
act OF incorporation may also serve {
: the original subscription list to the CAN'T,
, stock Of this corporation.
Z thus done and passed, in my Notari,
4 onice In the City Of New Orleans, afor
!, SAID IN the presence Of Arthur ]. Rya
and William r. Conkerton, competent wi
: nesses OF lawful age and residing IN tn
: city, who hereunto subscribe their name
together with the said appearers ana M