The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-17
CHARTER.

million dollars Isl. 600, 600. Said capital
stock is divided into forty thousand tio.-
0COD shares of the par value of twenty five
dollars $4,000 each. to be paid for az the
law provides. or sooner. at the discretion
of the Board of Directors, which said
stock shall he paid for i'll cash. or the
same may be issued at not less than par
in payment or exchange for property rights
actually received or purchased by said
corporation in accordance with law, or
labor or services rendered TO the corpora
ton at such time and under such terms
and conditions not inconsistent with law,
as the Board of Directors may prescribe.
ANY StOCkhOlder may sell. assign. or trans
fer his stock in this corporation provided
thirty days prior notice of such inten-
tion to sell. assign or transfer the same
be given TO this corporation, and the Board
of Directors of this corporation shall have
the first privilege of purchasing for this
corporation the said stock; and in the
event of the Board of Directors refusing
or ncgleCtinC such option to purchase the
said stock within the time limited in said
notice, then and in such case the said
stock may be sold in the open market
The stock of this corporation may be
transferred under the above conditions.
provided such transfer thereof be made
on the books of this corporation and upon
the surrender of the certificate therefor.
- ARTICLE V-All the powers of said
corporation shall be vested in and eNer-
ci>ed 10y a Board of five 90 Directors :
constitute quorum for the transaction of
business. and their decisions shall be valid
corporate acts. The names and pO>tuiiice
addresses Of the Directors for the first year
who shall serve until their successors are
elected and qualified are a. follows q:
Charles f. Smith, 1912 CarrOllton Avenue.
New Orleans. La; James X. Baglcy, 29ol
General FcT~hinS ST.. New Orleans. La.
James I. Prowel. 1910 81 Andrew ST.
New Orleans. La; Richard T. Mcbride.
1920 Daueel ST.. New Orleans, La: Clcora
VI. Keenan,. 627 Elmira Ave. New Orleans.
La. said Board of Directors shall con
time in Office until the second Tuesday in
the month of January. 1922 on which date
and annually thereafter their successors
shall he elected, unless the same hc 4
holiday. when the election shall be held
on the next legal day thereafter.
Failure from any cause whatever 70 elect
Directors on the day named for that pur-
pose shall not dissolve the corporation hut
the Directors then in office, as We'll as the
officers of said corporation. shall hold over
until their successors are chosen.
At every election and meeting, each
stockholder shall be entitled TO vote for
each share of stock registered in his name,
either i'll person or by written proxy.
The election of Directors shall be by
ballot. and the majority i'll the amount OF
votes cast. each share of stock voted upon
heing counted as one vote. shall elect the
person or persons for whom they have
been cast.
After each election the Board of Direc-
tors shall elect from their own number
a President. Il Vice President and a Treas
urer of said corporation: and shall also
elect Secretary of said corporation, who
need not be from their own number.
ARTICLE VI-The Board of Directors
shall have fun power TO I'LL vacancies in
their number caused by deaths, re>igna-
tons or otherwise. from among the stock
holders of said Corporation.
The said Board shall have full control
of the property of the corporation. and
shall so conduct manage and use the same
as in their discretion they deem fit.
and that i consistent TO the objects Of this
company for the welfare of the same.
The said Board is further authorized to
frame and adopt such bylaws. rules and
regulations as the affairs and business OF
the corporation may require, and as il may
be necessary for the conduct and manage
ment thereof; provided the same shall not
conflict with this charter. or with the laws
of the State or of the United States.
The said Board shall elect or appoint a
manager. and may. in its discretion, dele
gate special power and authority 10 said
manager for the purpose OF properly con
Quoting and managing the business details
of said corporation; said Board shall also
have power to appoint or elect such other
officers. agents. employees, servants and
clerks as il may deem necessary for the
conducting of the business of the corpora
service. and fix and determine the salaries
of the several officers herein provided for
ARTICLE VII.-The names and post
Office addresses of the subscriber<of these
Articles of Incorporation and the state
ment Of the number of shares of stock "a
which each has subscribed are as follows
Charles +. Smith, 1912 CarrolltOn Ave.
New Orleans, La, 1880 shares; James X
Bagley. 2H0l General PerShing ST., New Or
leans. La. shares: Jones 7. PrOwell
AID -
shares; Richard 7. Mcbride, 1920 Dance
St, New Orleans. La, ) shares; CleOr;
NJ. Keenan,, G2I Elmira Ave, New Orleans
La, shares.
ARTICLE VIII-This charter may b,
changed, modified or amended, or thi,
corporation may be dissolved at a genera
meeting or the stockholders convened fol
the purpose, according TO law. If. at any
time, this corporation should. according Il
law. desire 10 dissolve. its affairs shall bc
| liquidated by three commissioners select
/ ed from the stockholders at a meeting
called for that purpose: said commission
ers to remain in office until the affairs oi
the corporation have been fully liquidated
in case of death of one or more of SAID
commissioners, the survivor or survivors
| shall continue to act
Thus done and passed at my notaria
Office. in the City of New Orleans, on the
day and date herein first above written
| by the parties whose names are hereto
| subscribed, in the presence of Messrs
Nirma Keenan, and Edmee FOrtier, cOmpe
| tent witnesses. who hereunto sign theS,
| presents, together with appearers and me
notary, after due reading of the whole.
Original signed.) Chas. E. Smith, 1895
shares; James h. Bagley. shares; Cleori
| NJ Keenan,, shares; J. I. Prowell
| shares; X. I. Mcbride, shares.
Witnesses: Nirma keenan,, Edmee For
| tier.
(Signed) JOHN r. UPTON, Not. Pub.
cages in and for the Parish of Orleans. il
| that the above and foregoing act of incOr
! port Corporation, Inc, was this day duly
recorded in my Office in Book 1858, FOliC
II. New Orleans, January 81, 1921.
(Signed.) ROBT. SCOTT, by. r. NJ.
/, the undersigned, Notary Public. dc
| hereby certify that the above and fOrego
| ing is a true and correct copy of the ac
| of incorp xSatiOn of the Petroleum ImpOr
/ d Export Corporation, Inc, the original o
| which is of record in my current nOtaria
| register, together with the certificate o
the recorder of mortgages thereto at
| tached.
Witness my hand and seal this 31st da.
| of January, A ID. 1921.
| (Signed) JOHN r. UPTON. Not. Pub.
| Feb. 1O-Mch. II.
| AMENDMENT OF CHARTER OF L.