The herald., 1921-12-08
CHARTER.

holder at his last known address. The
directors thus elected shall continue In
office for one year, or until their success
scrs shall have been duly elected and
qualified. No failure TO elect shall be re-
garded as a forfeiture of this charter.
Any vacancy occurring on said board
shall be filled by the remaining directors
for the uneXpired term; the said board
shall likewise elect the additional men,
beers in case they should determine to
increase the number of said board. Said
Board of Directors shall at its first meet
ing after its election, nominate out of its
number a president, a vice-president and
a secretary treasurer. 1t may divide the
functions of the last mentioned officer
and may elect secretary who need not
be either director or stakeholder. Said
board shall have the right TO appoint and
dismiss such clerks, managers and other
employees of the corporation, including
the secretary who is not stakeholder, as
conditions may justify or the business
of the corporation may require. The
tenure of office of all employees of the
corporation shall be during the pleasure
of the Board of Directors. Any of the
directors shall have the right to appoint,
by written instrument, another director
or stakeholder to act as his proxy and
in his stead at any and all meetings of
the Board of Directors.
ARTICLE Vino stakeholder shall
ever be held liable for the contracts.
faults or debts of said corporation, nor
| cation have the effect of rendering this
charter null. or of exposing stakeholder
| to any liability beyond the unpaid bal
| ance due on the shares owned by him.
ARTICLE vII.-This act of incorpora-
| ton may be changed, modified or altered
or this corporation may be dissolved,
| with the assent of the stockholders own
| ing two-thirds of all the stock of the
| corporation at a general meeting con
| vened for that purpose and after at least
| ten days written notice of this meeting
has been given through mail addressed
| to each shareholder at his last known
| place of residence. In case of dissolution
| by the expiration of this charter or other
| wise, the stockholders shall elect three
| liquidatOrs from among their number to
| hquidate and settle the business and af-
| fairs Of the company. In case of death
or disability of any one of said commits
| sioners or liquidators. the survivors of
the remaining liquidators shall appoint a
| successor to him The said liquidators
| shall have full power to settle company's
affairs, collect outstanding debts, sell and
tcOnyey property, pay its debts and divide
the remaining money and property
among the stockholders. They shall also
have power to meet and act under the
by laws of the corporation and under
regulations to be made by a majority OF
said luquidators; to fix the price and
prescribe the terms of sale of said prop
erty and the manner in which the sale
secured by mortgage and otherwise fol
part of the purchase price for all or any
part of said property, provided, however
that the rights herein conferred upon the
liquidators may be modified, changed oil
denied by majority of the shares Of
the capital stock of the corporation. The
said liquidators shall have authority Il
sue for and recover the debts and prop
erty in the name Of the corporation and
may be sued in the same name, and they
shall be liable in solido to any creditor
or stakeholder for the monies and prop
erty OF the corporation which shall come
to their hands or possession as iquida
tors and for the proper application anC
distribution thereof.
ARTICLE vIII.-The entire capita
stock of this corporation has been sub
scribed at the time of the signing of thi
charter, as follows: Sam Silverstein
whose address is 442 s. Rampant street
New Orleans, 54S shares; Leonard NJ
King, whose address is 2301 Napoleon
avenue. New Orleans 200 shares; Mrs
Sam Silverstein. whose address Is 230
Napoleon avenue, New Orleans, l share
and Frederick A. Schrewe. whose address
Is 1906 Magnolia Street, New Orleans,
| share.
ARTICLE IX-Until the election to b
held in November, 1922, the following
shall constitute the first Board of Direc
tors, viz: Sam Silverstein, president
Mrs. Sam Silverstein. vice president; an
/
Thus done and passed in my office OF
the day, month and year first abov
written, in the presence of Frank I
Twomey and Joseph l.. Weiss, competen
witnesses, who have signed with the ap
bearers and me, the notary, after reading
the whole.
ORIGINAL SIGNED):
Sam Silverstein, 54S shares; Fred
Schrewe, l share; Mrs. Sam Silversteir
1 share; Leonard NJ King, 200 shares.
Witnesses: +. b. Twomey and J. /
Weiss.
! FELIX J. DREYFOUS.
: Notary Public.
j, the undersigned Recorder of Mort
E cages. in and for the Parish of Orleans
, do hereby certify that the above and fore
= going act of incorporation of Sam Silver
stems Department Store, Inc, was thi
day duly recorded in my office in Boo
1888, Folio.
e CHARTER OF THE SOUTHERN TYPE