The herald. [volume] (New Orleans, La.) 1905-1953, 1921-02-10
CHARTER

ARTICLE uI.-The objects and pur-
poses for which this corporation Is organ
carried on by Ii are declared 10 De as lol-
lows: To buy, sell. deal in and handle, eA,
port and import lumber 81 all SORTS and
including real estate stand
ing timber, cut timber, logs, mahuIac-
tured lumber, and any and all articles
from wood. To buy; sell,
hold lease and operate saw mills. planning |
mills and other lumber mills. factories,
logging machinery, logging Tallroaus; ioco-
motives. cars and machinery OF al hlhds;
To buy, sell. manufacture, dear III anu
handle boxes, cases, containers, crates |
shocks made of wood or any other ma
trrial and generally 10 engage IN ana |
carry on the business OF acquiring, own |
ing. buying, selling, leasing, mortgaglhS
exchanging. manufacturing. distributing |
and marketing of lumber and the various |
products thereof, and, in addition thereto
TO carry on general mercantile. merchan- |
disc and manufacturing business. 10 en-
gage in foreign as well as in domestic COM
merce. and TO carry on any or tne busl,
ness aforesaid. in the United states Oh
America and its territories ana depehdeh-
ces and in foreign countries
ARTICLE IV.-The capital stock OF this
corporation Is hereby fixed at the sum oil
81 500 5000. divided into ana rtprestnttl
by 1900 shares of the par value OF SlOVo
each: I'VE thousand of the said shares OF
capital stock, representing S5oOOOOO, shall
be preferred stock, ana lO,tOO sharts VI
said capital stock, representing sl;OOo;-
10000 shall be common stock. The hold
ers of preferred stock shall be entitled tC
receive, in preference ana priority over
the holders OF the common stock, cuInu-
lative dividend, limited to 20 per ahhuIh
PAYABLE out of the profits OF the company
The holders of common stock shall receive
no dividend, unless and until the hoiuers
of preferred stock shall have been paid the
dividend and any cumulations thereon due.
In the event of the dissolution or nqulda-
ton of the corporation, the preferred
stockholders shall be entitled 10 receive
Of fha
fore anything shall be paid to the hoIotrs
of common stock, the par value OF thelr
shares, together with all DIVIDENDS, at thS
rate OF 80 per annum non date All
dividends payable hereunder to preferred
stockholders shall be payable without ue-
Quoting for any tax or taxes uhuer any
present or future laws OF the Chlteu State s
or of the State of Louisiana Ine Doara
of Directors shall have authority, by ma
jority vote, to retire the preferred stoSA'
or any part thereof, at any time, AFTER XIV
ing thirty-day notice OF Its Intention SO
10 do to the holders of preferred stock, by
sending such notice by registered man 10
preferred stockholders last known ad
dresses, and upon paying TO the hVluers ~ ~
said preferred stock, par ana all uhPalu
aud due dividends. Should such hoIuers
be unknown, or should such holders IAN
or refuse to receive payment, then tne UT
poration may deposit the amount que ~
any bank in the City of New Orleans, ana
upon notice to the holders, Dy Registered
mail of such deposit, at last known ao-
dress of such holders, or, II no adaI tissns
known, at General Delivery, New orleans
PostOttice, all obligations OF the COMPANY
shall cease and the Company snall ue en
titled to demand the return OF the certi IN
Gates of preferred stock and to regard the
! holder thereof as no longer the holder OF
the stock in the corporation. ShouId par
of the preferred stock be retired, the
| amount TO be retired shail De 9lsIIdou, .e
| ferred stock. All voting powers OF tnls
/ corporation shall be vested In and eAer-
| cised by the common stockhoiuers eAclu
| siyely and in all elections OF directors anu
| otherwise, the holders of preferred STOCK
| shall have no voting power or right. IN
| the event of liquidation or dissolution OF
the corporation and IN the inSrease or n u
| crease of its capital stock. and under such
| circumstances only, the owners OF the pre-
| ferred stock shall have the same Young
power and rights as the holders Oh ,ne
| common stock. This corporation shaii
| commence business and be going concern
| as soon as 81, 800, 10000 of its capital STOCK
shall have been subscribed. The capftai
| stock Of this corporation may be increased
to the sum Of $2OOO.Oo0.00, by increasing
| either preferred or common STOCK, or DOM
| provided holders of two-thirds OF stocs
of the corporation SO determine, at sp s,
| a regular annual meeting OF the corpora
ton. During the time preceding suel
meeting to increase the capital st0ck, tnt
| stock holders shall have the privilege VI
taking additional shares in the proportion
which the shares held by them bear 10 tnt
| capital stock of the corporation prior tc
such increase. and any suen snases no ~
| taken at that time may be disposed or py
the directors, in their unrestricted aiscre
ton, for the benefit Of the corporation, ~
not less than their par value: All e.oG.
erty conveyed to the company, or Tor serS
ices rendered, as provided by law, or o.
issue Of stock dividend out OF the SURPLUS
and profits accumulated and undistriouted
and in such manner and installments al
the Board Of Directors may determine. ant
such stock shall be full paid and non
J assessable. The Board OF pirectvts On
hereby, in its discretion, vested with fui
power and authority to declare ana issu
stock dividends. No common stockholde
shall have the right to sell any o. IN
shares held by him, without first oferin,
, the same, in writing. to the corporation
through its Board of Directors, and IN
said Board shall have the privilege OF pur
| chasing said shares within thirty Gay
thereafter, for cash. at their book value
according to the inventory last made.
ARTICLE v.-The corporate powers Q
: this corporation shall be vested IN ana eA
ercised by a Board Of Directors compose'
of not less than three and not more ina
: i've common stockholders, two OF WHOM
shall constitute quorum for the transae
ton of business, should there be three o
3 constitute a quorum for the transaction o
!, business, should there be more than thre
i Directors. The Directors may vote IN per
son or by written or telegraphic proxy,
4 rectors.. The Board may delegate any 9
: it's powers to any othcer or omcers o
. other representative Of the corporation D
: appropriate resolution to that effect. IN
! Board Of Directors shall have power {
: borrow money through any ohcer or req
|. | resentatiye designated by 1t to issue an
= execute notes, bonds and mortgages an
= | to secure the same in any way that 1t ma!
In it's discretion, determine. and Renerali
. to do and perform all acts necessary an
| proper in the administration OF the anair
!, Of the business Of the corporation. IN
; Board shall have power to issue stock {
7 | services or labor performed, and to pul
q chase or otherwise acquire, cancel. hold Q
q | reissue, as in its discretion 1t may d.
8 termine stock Of this corporation. Th
j. Board shall likewise have power, II AT
r thoriZed by q vote of not less than ms
e jority Of the Directors, as said Boar
}, Is then constituted, to sell, lease or ea
: change the entire property and assets {
j. the corporation, to any corporation, nrl
: or person, under the laws of this or an
4 other State, or to transfer the propertte
: or part thereof, for purposes OF enectin
4 a Consolidation, merger, Reorganization
q poration, or all Of them; to give In e.
Y change for any property or properties,
l. for services or labor, the stock OF this CO
It poration. Nothing herein shall be col
II strued as limiting the general powers
l. the Board in the administration OF II
II business of the corporation, except as ma
r be herein specifically provided. The on
s. GERS of the corporation shall be Pres
v dent, a Vice President a Secretary and
Ia Treasurer, but the Board Of Directors ma
4. by appropriate resolution, combine u