The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-21
CHARTER.

The capital stock OF the ndrad and
may be increased no 60 n"V $3.50, OOOOO).
n.' go of stock shall entitle the
,nar thereof in person or by pIoAy,
om one vote for each share at all nee'
ings of stockholders. -, .o,i
ARTICLE 5. No stockhoidel CIV this
ar dispose of any of the stocA n0ered
Carnarption without first having 1haid-
60, Eorpo ame for sale to the other stockhoaot
IN Nv a letter addressed to the $500
or 70 the Board of Directors Oh ln nronased
etion. naming therein the lowest "a terms
price of said stock anu lno from the re-
Of sale. After thirty days from fai,nre
oa,nf of such written offer, ana the lanu 20
nj the stockholders, or any 81. oi ronosed
nnrcbase the said stock upon the PIE ShoiI
ttnrms of sale the owner of the stoch su e.
. .t no Of liberty to sell such STOCK III
moi less than the said proposed Ru hS ale
mon the said proposed terms lnie -
shall apply to each specific saie' vi pi'
posed sale or STOCK. - Of
Sbo,,d any stockholder pledge any VI
,,s S,nct he shall Immediately notify tne
an ainino stockholders Of the Corpora.iV,
in writing. through letter a9ursst rs
the President or the Board vi III saia
as in the aforesaid case OF PrU y,eSee TO.
Of stock of the fact Of such pieuee, "
oather with the name and ADDRESS Vi
5Iedpee. and shall accompany such null
cation with a copy OF the act, y, - the
ment of pledge; and DeIoie, VI ohI;ga
ton for which HIS stock STANDS pIeose1;
the Stockholders of the Corporation hdi
be entitled to take up such pleusor sS.o;aIIv
cation. and they shall be thereby spi,a,
snhrogated TO the rights OF the orie ii
pIedgee or any subsequent pledge III All
pWbera the stockholders of the Corpora
| ton are accorded either the rlght oi pui
chasing a shareholders stock, or OF taklns
mn his pledge obligation, as heTelhaDone
set forth. such right shall devoVe upon
| the said stockholders, first, IN tne p.ppoi
| tion of their individual holdings OF stoch,
and then ratably among the remainlns
stockbolders. should any particular STOCK,
| holder not elect to exercise his rlght, anu
| so on until the right shall remain IN one
| stakeholder, if all other stocknoiuers
| sbould decide not to exercise the rlghl:
The CORPORATION shall make no transfer
| of stock where the provisions OF the 1ore-
| going paragraph have not Deen luil! e odno
| plied with, and the Corporation shall aiso
be entitled to demand ana .S Sna purchaser
| of stock in all cases, before hahins "a
| transfer of such stock upon the DOCKS ph
| the CORPORATION. an affidavit as 10 .ne
amount truly paid for the stock' IA. anu .rans'
showing the entire bona ndes VI 'he ''"
| action. Co.oor.tion
| shall be transferable only upon tine poohs
of the Corporation. ana no transie ar a,facf
stock shall be binding, or have an enec,
( upon the Corporation, unless, ana UNI, "a
made upon its books; and prior lien Oh
ali shares of stock shall be retained ps
this Corporation on the stoeS sacurei
or unsecured. however eviuehceu VI
created, due at any time to the corpora
ton by the holder OF stock, ana no trans
fer of stock shall be made IN contraVe faL,h
of these conditions hereinbefore set forlh
. ARTICLE g. All the corporate power
of said CORPORATION shall be vested In ant
: | exercised by a Board of Directors com
posed of at least three (3) stockholders
to be elected at an annual meeuhs
| stockholders, to be held on the First tist
Monday in June of each year. All elec
tions shall be held under such rules, regu
lations as may be determined by boar'
| of Directors. The directors thus eiec.e'
shall continue in office until their success
: sors shall have been duly elected an
: qualified. No failure to hold an election
| either of directors or onlcers, snai oe re
garded as a forfeiture OF this Charter. an Al;
! vacancy occurring on said Board OF III
rectors shall be filed by the remalnln
directors; the number Of directors may o
increased to not more than seven W III
rectors, at the discretion OF the Board
Directors. Said Board of Directors snal
, likewise elect the additional members o
said board in case they should determin
. to increase the number of the Board Q
. Directors, as herein provided. SAID Boar
of Directors shall have the right an
power to appoint and dismiss such clerks
assistants and other employees of the Cor
: poration, as conditions may justify, or IN
/, business may require, and the tenure Q
I office of all such managers, clerks, assist
/ ants, and other employees of this Col
: poration shall be during the pleasure o
y the Board of Directors.
ARTICLE Z. The first Board OF ID
rector shall consist of the followin
directors: Frank b. Sullivan, John p. Sui
Ivan, Sylvan Kronheim, and the frs
officers of said Corporation shall be Fran
b. Sullivan as President, John p. Sulliva
nd Grlu II 10 a
= Secretary Treasurer, who shall serve a
, such until the First 1st) Monday in JUNE
. 1922, or until their successors are dull
: elected and qualified.
ARTICLE s. No stakeholder shah eve
be liable or responsible for the indebted
y ness, faults or defaults of this Corpors
q tion nor shall any mere informally in III
Il organization Of the Corporation have an
!, effect Of rendering the Charter null, or {
q exposing the stockholders to any liabilit
q beyond the unpaid balance, IL any on III
stock subscription.
4 ARTICLE o. Stockholders meeting fc
e the election Of directors shall be held $
{ the domicile of the Corporation after d
l, teen (15) days notice in writing to eac
: stakeholder shall have been given by d.
! posting said notice in the United State
n ARTICLE 10. Whenever this, Corpor,
;, ton Is dissolved, either by limitation I
8 for any other cause, its affairs shall
y liquidated by the Board Of Directors, VIII
Is any and all assets Of the Corporatio
either separately or In bulk, and to col
u vey full and complete title thereto, an
=, who shall have full power and to do an
II perform all acts necessary and prop,
u fully and completely to liquidate Il
le affairs and to distribute the proceeds.
e any, among the stockholders of this Co
e, poration, in accordance with the propo
q tiOnate number of shares held by eat
7; stakeholder.
lie ARTICLE IL. This Act Of incorporate
20 may be amended, altered, or this Corpor
20 ton may be dissolved by vote of tw
% thirds e ~ of the shares of the tot
e, amount of stock issued at a meeting CO
L. vened for that purpose after fifteen Il
e, days notice in writing mailed to the la
,r known address of each stakeholder.
- Thus done and passed, at my Notari
Or Office In this city of New Orleans. Sta
Of Louisiana, on the day, month and ye
20 above written, in the presence Of Myles
Is Byrns and NJ. r. Newhauser, compete
witnesses, who have hereunto signed the
n names, together with the appearer and m
Is Notary, after due reading Of the whole
a. DAVID SESSLER,
le Notary Public.
n June 30-Aug. f.
rs AMENDED CHARTER OF JOSIAH