The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-03
CHARTER.

round houses and other equipment
sary to the operation of said vessels piers;
docl.S Uhary,s tramways or railways ana
traffic thereon; provided that TINS corp"r1s
ton shall not, without an aihehunleHIt VI
this charter, be common carries VI ,t
the right to exercise the power OF eminent
domain.
Section g. To enter into, make, perform
and carry out contracts of every klhd hot
contrary to law. with any person. hrnl' as
sociation or corporation. and 10 carr! ON
any other business which under the law
IL may be entitled to carry on, Which may
seem to the corporation TO De calculSttu'
directly or Indirectly, to effect the aloFr
said objects or either of them or 10 1acll,
tate il in the transaction of its aforesaid
business or businesses or any part thrreol;
or in the transaction of any other iaNlul
business that may be calculated directly
or indirectly to enhance the value or or 10
render profitable, any OF the corporation
property and rights, and generally 10 hold
and exercise all such incidental powers anu
privileges as relate TO the objects ana pur-
poses hpreinaboVe set forth as may be neces-
sary. useful or convenient for ehecting
said object and purposes.
| ARTICLE IV.-The authorized capital
| stock of this corporation Is hereby declared
to be the sum of twenty-five Thousand
/ (S25 600 OO dollars. which capital stock
NAV be increased in the manner provided
by law tn the sum of one hundred thous-
and (SlOO.0O0.OO) dollars. The presently
| authorized capital stock of this corporation
/ fifty shares of the par value or one nun,
dred dollars each. The capital stock shall
be represented by certificates and shall oe
personal property. No transfer or sald
/ capital stock shall be binding upon this
corporation unless made in accordance with
it's charter and bylaws and recorded on
the books thereof.
ARTICLE V.-The capital stock of this
corporation shall be fully paid and non
aSSessable when issued and shall be is
Suab nuly for labor done services rem
dered or for property actually received or
for cash to be paid at such times and In
such amounts and after such notice rs may
be determined by the Board of Directors.
ARTICLE VI-An the powers of this
corporation shall he vested and exercised
by a Board of three directors, each OF
whom shall hold, in his own name. at
least one share of stock. Said Board of
Directors shall be elected annually on the
| second Monday in March of each year. the
first election to be held in the year 1922.
All such elections shall be by ballot. ut the
office of the corporation, under the super
vision of two commissioners. to be APP
pointed by the Board of Directors and IN
| the absence of any commissioner. the PreSi-
dent shall have power to fill the place by
appointment. and of all such elections,
as well as of all meetings of stockholders,
except for the purpose of liquidation or
dissolution. or as otherwise required by
law. ten days notice shall be given by
mailing TO each stakeholder who appears
as Sutn on the DOOkS OF Ine fOTHOTHIlOH
at his last designated address, or at the
, general delivery at New Orleans, If he has
not designated an address, an announce
. ment stating the time and place of tn,
meeting. Each shareholder shall be en-
titled to one vote for each share of stock
standing in his name on the books of the
company, to be cast in person or by proxy
). and n majority of the vote cast shall elect
The Board of Directors shall have power
= to fill all vacancies that may occur in tn,
: Board: Failure to elect directors on thu
day above specified shall not dissolve thu
corporation but the Directors then in of
flee shall remain in Office until their sue
cessOrs are elected and qualified. Du
notice of another election shall forthwith
Il of election shall be continued TO be givel
= until an election is held. The Board o
= Directors at their first meeting following
y each annual election shall elect from thei
:. number n president. vice-president, an,
= secretary treasurer. The Board shall
= have power. in its discretion, to unite tw
- or more Offices, and the same to confe
y upon one person and shall have power I
- fix the salaries of all officers and all sue
20 other officers and employees as they deer
y necessary. The Board of Directors sha
:. have power to make and establish. as we
- as alter and amend. all bylaws, rules, an
af regulations necessary and proper for tn
10 support and management of the bushes
" and affairs of said corporation. not incor
~ sistent with it's charter. Said Board sha
- also have full power and authority to boz
VI row money, and through the president c
=, some other duly authorized agent &
"A agents, TO execute mortgages, Il
10 sue notes. bonds other obligations. i
~ such amount and on such terms as
their Judgment may be advantageous; an
e generally to do all things reasonably nece,
m sary for the proper CARRYING on of Il
Us issue and deliver full paid shares of stocl
-. and bonds or obligations of this corpori
VI ton, In payment of money borrowed.
money. labor. or services, and property
ts q orr 10
n ton, as heretofore setfOrth and shall ha'
le, power to do all such acts and things
tn may be necessary to carry out the objec
nd and purposes for which this corporation
'r- organized.
er A majority of the directors shall co
ID stitute quorum for the transaction of al
by business. At any meeting of the Boar
st any Director absent from the meeting m,
Sc be represented by any other director. w
nd may cast the vote of said absent Directt
Ter according to the written Instructions
in said absent Director. The Board Of I
ID rectors shall have the power. by vote
re- not less than majority thereof. to SO
lease, mortgage, by bond mortgage
ds otherwise. or to pledge any and all of t
II property movable or immOvable. belon
nor ing to the corporation, or to receive
or exchange therefor, money or stocks
10 bonds or other obligations of another c,
" poration, without referring to the sha
an holders for the power to do so; and III
nd may also purchase for stock in this G.
OF pOratlOn or Tor cash or on credit. pre-
or erty of any kind required for any of
he purposes of this corporation. without
~ thOrity of the shareholders.
10y Until the next general meeting to
nts held under this charter on the seco
md Monday in March. 1922 or until their d.
eir qualified successors are elected and
the stalled. the Board of Directors shall
ry- composed of Hugh p. Burbank. Westwe
VS. La: George X. Force. 624 Whitney G
18th trail Bank Building and Morris r. Shi
ing 1905 Carrollton Avenue. with Hugh p. Il
op- bank as president with George X. Fo
its as yice-president and with Morris
ion shaw as secretary-treasurer.
and ARTICLE vII.-This charter may
an amended and the capital stock of this {
r. poration may be increased or decrea sed
r;os this corporation may be dissolved in
md method and manner provided by law.
the ARTICLE VIII.-No stakeholder of
,ors corporation shall ever be held liable
1ect responsible for the contracts or faults
In this corporation in any further sum q
sess the unpaid balance on the stock for VIII
I'M he has subscribed: nor shall any mere
nay formality in organization have the effee
iuer rendering this charter null or of exI
and ing stakeholder to any liability than
Acts above proyided
OF
ARTICLE IX.-No stakeholder may
oor. assign or transfer his stock in this ,
o. poration without giving to the comps
mis-. through its secretary, thirty days p
80, notice In writing of such Intentions
80 the other stockh holders shall have the