The herald. [volume] (New Orleans, La.) 1905-1953, 1921-04-14
CHARTER.

pOratiOn on the shares Of stock subscribed
by him. nor shall any mere inf0rmality In
organization have the effect of rendering
this charter null. or of exposing any share
holder to any liability whatsoever.
This corporation shall not engage in
business until four thousand t4Uool shares.
or four hundred thousand CSi0O,OoOOoi dol
lars of the capital stock shall have been
subscribed and four thousand l4uVVl
shares, or four hundred thousand lS4oo-
GOO OUl dollars of the capital stock shall
have been issued and paid in, in cash.
property and goodwill If any stock Of
this corporation is exchanged, either in
whole or in part. for property or goodwin.
in that event the provisions Of Section
of Act 26I of 1914 shall be complied with
strictly.
ARTICLE V.-All the corporate power,
of this corporation shall be vested in and
exercised by a Board of Directors COM
posed of six stockholders, each of whom
shall own in his own right. during his
term of office, at least one fun paid Shar"
of stock. four "a Of whom shall con
stitute 4 quorum for the transaction of
business.
The officers of this corporation shall con
Sist of a President, Nicr-Pre>ideur and
Manager, Secretary and Treasurer, all Oi
whom shall be members OF the Board of
Directors. The offices of Secretary ANA
. Treasurer may be combined in one and
the same person.
The following named persons shall con
/ Stitutc the first Board of Directors, To
wit:
! John $. Waterman, Sr.. No. 1866 pufossat
St. New Orleans. La. William Waterman.
I No. 1907 Prytania st. New Orleans. La:
/ John :. Waterman. Jr., No. 1923 Robert
! St. New Orleans. La: Oran c. Harilleau.
4 No. Il stone St, New York, y. y; Albert
/ Trcpaguer. No. llIl Prytania st, New
! Orleans, La; William +. Mele. No. 31lj y.
/ Rampant St. New Orleans. La. all resi-
/ dents OF the City of New Orleans. La. rN-
! cept Oran &. Barillcau as hereinahoye
/ stated. and dOmicilcd at the addresses
above stated, with John :. Waterman. ST..
as President; William Waterman, as Vice
/ President and Manager; John :. Water
/ man. Jr., as Secretary, and Albert Ire
! pagnler, as Treasurer, and these officers
| and directors shall hold office until the
! first Monday of January, 1922. or until
/ their successors are duly elected and quail
I fed.
/ Thereafter the directors shall be elected
| annually on the first Monday of January
! Of each year, and they shall elect their own
I officers: all elections of directors shall be
| by ballot, and each stakeholder shall bc
! entitled to one vote for each share of stock
/ standing in his name on the books of this
corporation. this vote to be east in person
/ or by written proxy. and it shall require
a majority of the stock present or repre-
| scented to elect. The directors shall have
the right to increase their number to nine.
Failure to hold an election for dircc-
tors on the first Monday of January, 1922.
or annually thereafter, shall not work u
forfeiture of this charter, but the old
Board of Directors shall remain in office
until their successors are duly elected and
qualified.
/ ARTICLE VI.-The Board of Directors
| shall hold regular meetings at such times
! as shall be fixed in the bylaws of this
| corporation. but the President may call
! special meetings of the Board Of Direc-
tors at such times as he may deem adviS-
able, and he shall be required To call such
| special meetings at the request of a mem
Der of the Board of Directors. Three days
! written notice of such special meeting
ls4I. 10. -.
waiver of such notice is signed by the
| Directors. Any vacancy occurring in the
Board of Directors. either from death
resignation or inability to serve, shall bt
filled by the remaining directors at its next
regular meeting afteF such vacancy shall
have occurred. The first Board of Direc.
tors of this corporation shall be required
to draft suitable bylaws for the govern
ment of the corporation, which may be
altered, amended or changed as the eXig
encies of the case may require.
ARTICLE Nll.-The stock of this cor
poration may be transferred. provided
such transfers shall be recorded on th'
books of this corporation before it shall
be required TO recognize the transfer, OF
the new holder of the stock.
ARTICLE VIII.--The appearers hereby
declare that they have subscribed to tn,
following number of shares of the capita
stock of this corporation. tO-wit:
John 5. Waterman, ST. No. 1866 Dufossa
ST., New Orleans, La, nineteen hundred
termann, 1907 Prytania St, New Orleans
La. Nineteen hundred and ninety
ll99sl shares; John Waterman, Jr., No
1929 Robert ST., New Orleans. La. one Il
; share; Oran c. Barlilleau. No. Stone st
New York, N Y, one % share; Alder
Trepagnier, No. 1141 Prytania ST., New or
leans, La. one C) share; William Z. Mele
No. 3715 n. Rampant ST., New Orleans, La
one a. share; H. Chotard Eustis, No. $50
General Pershing St. New Orleans La
one % share; Richard a. TOnry, No. 243
Cleveland Ave, New Orleans, La, on
"a share.
And the said subscriptions of John S
Waterman. ST., and William Waterman
which together total the sum of three hun
| dred and ninety--nine thousand, four hun
dred, 1899, 100000 dollars. or one hundre,
and ninety nine thousand six hundre'
4 Q99.60O00 dollars, or nineteen hundred
and ninety-siN shares to John 5. Water
I, man, ST., and one hundred and ninety
nine thousand, eight hundred (S199. 500 90
dollars, or nineteen hundred and ninety
( eight Q99S) shares to William Waterman
I which shall be fully paid for and settle,
e by them by the transfer of all the prop
erty and effects now owned and belonging
t TO the commercial co partnership know
as j. S. Waterman & Co., composed o
e John S. Waterman. Sr., and William Wa
! terman an accurate detailed and itemize
! statement and description of said prop
erty being hereto annexed to be read il
D connection herewith, and the said prOpert
was duly appraised by the Board of hi
rectOrS OF tnlS corporation at the sum o
e three hundred and ninety nine thousand
four hundred 1893, 10000 dollars. The re
mainder of small subscriptions shall b
paid for in cash.
. In the event that any stakeholder de
| sires to sell his stock or any part or pOT
! tion thereof, he shall first offer same {
the remaining kholders, in proportio
q to their respective holdings at its boo
value. This offer is to be made to appea
. by letter addressed to each stakeholder a
= his last known address. giving thirty day
n option. At the expiration of which tim,
4 the stakeholder desiring to dispose of hi
n stock, shall be at liberty to sell at what
d ever price and to whom he may please.
e ARTICLE IX.-This charter may
f modified or altered, the capital stock there
5 or increased or decreased, or the COZ
q p0ratiOn may be dissolved with the assen
4 of two-thirds of the capital stock presen
g or represented at any special meeting Q
: the stockholders held for that purpos
: after prior notice in writing to each stock
h holder, mailed to him at his last know
postOffice address, all in accordance wit
S the terms of Act 267 of 1914
e ARTICLE X.-At the expiration or TIL
d charter, o. the earlier dissolution of thI
e corporation for any cause, its affairs sha
l. be llquidated by one or more liquidatOI
.e 10 be elected by She stockholders all
q whom shall hold stock in this corporation
IS and said liquidators are hereby vested wit
e fnII power and authority to liquidate I'll
ie anairs OF said corporation, with full pow
IT er TO act under the terms of Section so {
II Thus done and passed at nv ONCE
l. this City of New Orleans, Louisiana q
II the day, month and year hereinabove fir
d written: In the presence of Nirma Keena