The herald. [volume] (New Orleans, La.) 1905-1953, 1921-08-11
CHARTER.

and undersigned, personally came and ap-
peared, the persons whose names are here
unto subscribed, who severally declared
that, ayailing themselves Of the provisions
Of the laws of the State OF Louisiana, rela-
tive to the organization o. corporations,
they have covenanted and agreed to bind
themselves, as well as such other persons
who may hereafter become associated with
them, or their successors, to form and
constitute q corporation and body polite
in law, for the objects and purposes, and
under the agreements and stipulations fol-
lowing, to-wit:
ARTICLE 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 shall 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
istana, 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
Jnicers, 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,
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
ton organized.
| ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum OF
Ten Thousand Dollars $4,000, divided
aWatn hv.t.L -
Of One Hundred Dollars ($1O0) each; each
share to be paid for in such manner az
the Board Of Directors may determine
The amount Of the capital stock Of this
corporation may be increased to Fifty
Thousand Dollars ($5O,0OO) 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
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 Stockholders
through the Board Of Directors, at a stip-
ulated price, and If the Board. for the said
STOCKHOLDERS, does not see fit to purchase
said stock, then 1t shall not be sold at 3
less price, or upon more favorable terms
without likewise Offering 1t to the Board
az sucn price and upon said terms. In cas<
OF sale or transfer Of stock, or the issue
OF the Increased capital stock, the ther
holders Of stock Of the company shall have
the right to purchase said stock in the
ratio Of their holdings Of stock Of the com.
pany. NO sale or transfer of stock shall
De binding upon the corporation unless
made upon it's books, and said transfe,
snail be made only upon surrender OF
PROOF OF loss or destruction of the out
standing certificates.
ARTICLE Vail the corporate power,
ana authority Of this corporation shall BE-
vested and exercised by Board of Di.
rectors composed Of not less than thres
stockholders, to be elected annually by !
pauot at a general meeting of the stock.
noIoers on the second Monday In Septem.
per, OF each year. No failure to elect Di.
Iectors snail be regarded as a forfeiture O,
this Charter. Any vacancy occurring n
ana on said Board shall be allied by the
remaining Directors for the unexpfref
Term; Said Board Of Directors shall a
t tre nfst meeting after its election cleo
from among its number a President. ,
nce-President, Secretary and Treasurer
ARTICLE VINO stakeholder shau eve,
oe neid liable or responsible for the cen.
Eacts, faults or debts Of said corporatior
d any further sum than the unpaid balanc,
stoct 70 sne corporation on the shares O.
inrormality in organization have the effec
Oh rendering this Charter null. or AZ az
posing a stakeholder to any liabilitv he
'ono the amount OF his stock.
ARTICLE vII-The following name,
RRSsr r snaii constitute the first Board o
directors to serve until the second Mon
oay IN september, 1922 or until their snc
sessors snaH have been elected and ousIi
n NEG, to-wit:: Lincoln J. Cotton, President
as1a or ". diii, Vice President; Robert Z
I'LL, secretary and Treasurer.
fne persons whose names are bereunaa
ssupscuoed, are hereby declared TO be tn,
,ncorporators Of this corporation, and hsy,
Pecsyey written opposite their name
sc.ioed Tor by each Of them, 90 that tn,
s sce OF incorporation may also serve =,
the original subscription list to the csn,t.
stock Of this corporation. '-pi'a
once, In the City Of New OrIesna sSe,e
SAN IN the presence Of Arthur - RvaI
.na william =. Conkerton, coSnecent Viz
u.s. re.ses Of AWFUL age and roGl6ing IN III,
eogethek With fha ma 49, rseS ~ ?. =