The herald., 1921-06-02
CHARTER.

Incidental TO any of the purposes herein
above set forth, or contemplated by this
ARTICLE Iv-The capital stock OF
said corporation is hereby hNed AT iltS
thousand dollars, divided into hNe nun
dred shares of the par value of one nun
drcd dollars each. All shares OF STOCK
shall be full-paid and non-aSsesSapIe' ~
transfer of stock shall be binding uPon
the CORPORATION unless maae upon ~
books and all certificates of stock shaIl De
signed by such officers as may be de-
signated by the Board of directors. -
This corporation shall have the rlght ~
increase its capital stock to further sum
of one hundred thousand dolIars' 10 ne
divided into shares of one hundred dol-
lars each, provided said increase IN the
capital shall have been authorized ny uno
stockholders at a meeting TO be heIu puI .
suant to the provisions of Article ', Oh
this charter.
ARTICLE v-An the corporate powers
of the company shall be vested IN, anu lne
management and control OF lts ahalrS sum
be exercised by IA Board of Directors com
posed of three stockholders, the member
ship of which may be increased 10 mum :
br not exceeding five, at the discretion OF
the BOARD of Directors. majority Oh lhe
directors shall constitute a quorum 1or
the transaction of all bushes. Inc IL
rectors shall be elected annually by pal
lot on the third Thursday IN May OF eaCh
wear Each stakeholder shall be entitled III
nprson or by proxy to vote for every
share owned by him, and all electlOhs
shall be held under such rules and regula,
tions as may be determined by the boaru
of Directors, after fifteen days notice Dy
mail of such election shall have been sent
to each stakeholder at his last known al,
dress. The directors thus elected shaii
continue in office for one year or 9n tII
their successors shall have been duly
elected and qualified. No failure 10 eject
shall be regarded a forfeiture OF TINS
charter. Any vacancy occurring on said
Board shall be filled by the remaining al,
rectors for the unexpired term; the said
Board shall likewise elect the addltlohai
members in case they should determine 70
increase the number of said Board. SAID
Board of Directors at its first meeting
after its aectiOn. nominate out of its num-
ber a President. a Nice-President ana a
Secretary Treasurer. 1t may divide the
functions of the last mentioned ohicer ana
may elect a Secretary who need not be
either "A director or stakeholder. Said
Board shall have the right to appoint ana
dismiss such clerks, managers and other
employees of the corporation, including the
secretary who is not stakeholder, as con-
ditions may justify or the business of the
corporation may require. The tenure OF
office of all the employees of the corpora
ton shall be during the pleasure of the
Board of Directors.
ARTICLE Vino stakeholder shall ever
be held liable or responsible for the con-
tracts, faults or debts of said corporation,
nor shall any mere informality in its or
ganization have the effect of rendering this
charter NULL or of exposing a stakeholder
to any liability beyond the unpaid balance
due on the shares owned by him.
ARTICLE NII-This act of incorpora-
ton may be changed, modified or altered,
or this corporation may be dissolved, with
the assent of the stockholders owning two
thirds of all the stock of the corporation,
at a general meeting convened for that
purpose. and after at least fifteen days
written notice of this meeting has been
firOnVh addressed
stakeholder at his last known place of
residence.
ARTICLE vIII-Whenever this corpora
ton shall be dissolved from any cause, its
affairs shall be iquidated by three stock
holders, to be appointed at general
meeting of stockholders convened for that
purpose of liquidation. as hereinafter pro-
vided, each share of stock being entitled
to one vote, to be cast either by the holder
in person or by proxy. Said commissioners
shall remain in office until the affairs of
said corporation shall be fully settled and
liquidated, and they shall have full power
and authority to transfer and give title
to all the property and assets of the cor
poration and to distribute the proceeds
In case of death, disability or resigna-
tlon or one or more commissioner or COM
missioners, the vacancy shall be filled by
the remaining commissioner or commits
sioners.
ARTICLE IX-Until the next general
meeting to be held under this charter on
the third Thursday of May, 1922, or until
their duly qualified successors are elected
and installed. the board Of directors shall
be composed of: Roch Z. Z. de Montluzin,
9O1S Ounce Street. New Orleans, La.
Michael A. Baccich, 1915 Soniat Street,
New Orleans. La; and w. L. Yancy, 1910
Music Street, New Orleans. La. with the
said Roch E. Z. de Montluzin as President,
the said Michael A. Baccich, as vice-P resi.
dent, and the said W. l.. Yancy, as Secre-
tary Treasurer.
In order that this charter may serve as
the original subscription list, subscribers
hereto have indicated opposite their re-
spective signatures the number of shares
OF stock subscribed by each Of them
Thus done and passed in this office, on
the day, month and year, first above writ
ten, in the presence of Frank b. Twomey
and Joseph l.. Weiss, competent witnesses
who have signed with the said appearers
and me, the notary, after reading the
ORIGINAL SIGNED):
X. K. f. de Montluzin, seventy (7O)
shares, 9O1s Ounce ST., New Orleans, La.
NJ. A Baccich, thirty 500 shares, 1916
Soniat st. New Orleans. La w. l.. Yancy.
sixty (6O) shares, 1910 Music St., New Or.
leans. La; City Investment Co, Inc. by