The herald. [volume] (New Orleans, La.) 1905-1953, 1921-10-20
CHARTER.

rrnr,~~ shall Ice served upon the president
and in the event of his absence or Inability
To- act. from amy cause. the same >h'iiI u"
served upon the vice president. III" man
a-,r. the secretary o. the secretary treas
urrr. should Doe latter offices Ice combined
.u on, person.
ARTICLE II The objects and purposes
for which this corporation i organized
aud the nature Of the business to- be- car
rird uu by il are hereby declared TO he:
Fir~D. To leUgage in and carry on
steamship business. to own, control ana
acquire 10y lease. charter. purchase. con-
~trurt or otherwise acquire steamboats,.
sailing vessels. tugs. bar-eS. lighters. yes
sells and water craft of all kinds. or IN
t.rrStS therein. ard 10 operate same for the
transportation of goods and passengers :.
also To purchase. build. construct. repair.
lease. sell. convey. manage aud operate
vessels of an kinds. and all machinery.
appliances and apEurtrnanCcS. Incidental
" necessary or convenient thereto. or in
any WAY connected Herewith: with also
power to do "a towing business and also
10 purchase, own. lease. construct. con-
troll. and operate docks, Warehouses.
wharyc~. dry docks. ana dock machinery.
appliances and appurt"uanCcs of all kinds.
and with power also To do Il general ship
building. ~fovedoring. dOckagc, warehouse.
skip agency. ship brokerage and commits
sion business. with power for any and all
of m" above purposes. to borrow money.
tent. necessary aud convenient in the Opin-
ion az the board of directors Of this cor
uorgtiou, negotiable notes, coupons. re
Gi~tcrel or other bonds or obligations Of
this corporation. and ia secure the pay
mnut of the principal and interest on the
same 10y mortgage or pledge of all or any
part of the property. rights franchises.
and privileges of the corporation then
owned or which may be hereafter acquired
by the corporation. and also with full
4
convenient or incidental to the powers
and purposes above expressed.
(SecondD To acquire by purchase sub
scription or otherwise and to hold. sell,
assign. transfer. exchange. mortgage.
pledge or otherwise dispose Of any shares
of the capital stock. bonds. or other evil
denceS Of indebtedness of any other cor
poration or corporations. association or as
SOcations. domestic or foreign, engaged in
any business in which this corporation
may be authorized to engage, or the
ownership Of whose securities would be
advanta gcouS or convenient in the p-otec
ton or promotion of any of the purposes
or interests Of this corporation. but only
10 the extent authorized by the laws of the
State of Louisiana.
tThirdO To carry out all or any part
of the foregoing objects as principal.
manager. factor, agent, contractor or
otherwise, either alone or in conjunction
with any person. firm, association or cor
pOration, and in any part of the world
and in carrying on its business and for
the purpose Of attaining or furthering any
of its objects. to make and perform such
contracts of any kind and description, to
do such acts and things. and to exercise
any and all powers as a natural person
would lawfully make. perform, do or
otherwise. provided the same he not in
consistent with the laws under which this
corporation is organized.
ARTICLE III-The capital stock of this
corporation is hereby fixed Mt the sum of
twenty-five thousand ($25,O00O0) dollars,
divided into two hundred and fifty shares
of the par value of one hundred dollars
(SlO0OO each, payable in cash and the
capital stock may be increased hereafter
to the sum of one million dollars. No sale
or transfer of this stock shall be recog-
niZed by the corporation unless and until
said stock shall have been first offered in
writing to the corporation at its book
value as shown by the last annual state
ment. for the use and benefit of other
stockholders, who are hereby granted the
absolute first right and privilege to pur-
chase same at the price stated and to ac-
ccpt (which shall he in writing) and pay
therefor within thirty days after such
offer shall have been made The right and
the Rights conferred in this article of the
charter shall follow the stock into who
sOever hands II may go. Failure of the
holder or possessOr of the certificate of
stock to produce or deliver same shall
authorize the corporation to receive in
trust the price thereof, TO cancel such out
standing certificates on the books of the
corporation and issue new certificates
therefor. The stock so purchased shall
be divided among the remaining stock
holders in proportion to their several
holdings and upon payment of the price
thereof. Any such stock not desired by
any stakeholder or stockholders shall be
divided pro rata among the balance of the
stockholders. This corporation shall be
the agent of the stockholders specially
empowered through its board of directors
to enforce and carry out all of the foregO-
ing provisions regarding stock in this cor
pOratiOn. The substance of these proyi-
sions of the charter shall be stated briefly
and succinctly upon the face of each GER
thcate of stock and shall be conclusive
notice to all persons dealing Herewith
ARTICLE lN-All the corporate powers
snail be vested in and exercised by board
OF directors made up of three stockholders,
two of whom shall constitute a quorum for
all business. Said board NAV
adopt bylaws, rules and regulations for
the government of the business and affairs
Oh the company, and may alter, amend and
change the same at pleasure. 1t may APP
point, hire and discharge all Officers
agents and employees, fix all salaries. and
generally do and perform all things neces-
sary Tor the transaction of the business
and affairs of the corporation. Any di-
may be represented by a written proxy
MED with the board and notified to the
president. Vacancies occurring in the
board shall be filled by it, The first
board of directors shall be composed of
w. III. Cowley, New Orleans, La; +. b. |
Ihriffiley, New Orleans, La; and 1. J.
New Orleans, La. and they
shall hold office until the first Monday fol. |
lowing the first Sunday in May. 1922. and
until their successors are duly elected and
qualified. The officers of the company are
hereby declared to be a president, a vice
president and secretary treasurer, and
me SAID offices shall be filed by the said
w. n Cowley as president. the said f. Il. |
Ihrifflley as vice president. and the said
|. D. Stakelum as secretary treasurer The
DHlce OF treasurer, when and if created. |
may be combined with any other office and
be hlled by the same person
On the first Monday following the first
sunday In May, 1922, and annually there
~ ter' an election for board of directscs
shali be held at the office of the corpora- |
ION, under the supervision of a commits |
,ioner to be appointed by the president. |
ms election shall be preceded by written |
notice mailed to the last known address of |
each stakeholder at least five DAYS before
ne date Of said election. The election |
'hall be held by ballot and each share of