The herald. [volume] (New Orleans, La.) 1905-1953, 1921-08-11
CHARTER

tary) of the corporation, the holders OF the
preferred stock shall be entitled 10 De
paid. out of any assets, up to the par
amount of their shares, and after such pay
ment TO the holders of the preferred STOCK
the remaining assets and funds shall De
divided and paid to the holders OF the com
mon stock, according to their respective
shares.
The eommon stock shall have the COM
plete and exclusive control of the corpora
tion and the exclusive right to vote AT
Stockholders meetings, as shall De herelh-
after provided.
All transfers Of stock shall be made on
the books of the corporation by surrender
of the original certificate properly endorsed
for cancellation by the stockholders In
whose favor said stock Is issued, or oy
his duly authorized agent. The capital
stock of this corporation may, on comply
ing with the requirements of law, be in
creased up to One hundred thousand dol
lars, or any part thereof.
The preferred stock may be redeemed OF
retired, in whole or In part, at the optlon
of the Company. at any DIVIDEND per rnsa
dividend; IL retired In part, the same SHAH
be by lot.
ARTICLE v-Ali the corporate powers
of this corporation shall be vested in and
! exercised by Board Of Directors, 70 Dc
composed Of three Of the stockholders OF
the common stock, a majority Of whom
shall constitute quorum. The Board OF
Directors shall be elected annually on the
Tuesday after the First Monday In Jan
uary in each year at a meeting OF the
stockholders of the common stock held on
that day. All elections shall be by ballot
and each stakeholder OF common STOCK
shall be entitled to one vote for each share
of stock standing in his name on the books
of the corporation. this vote to be cast
in person or by written proxy. Failure
to elect a Board Of Directors, as herein
provided, shall not work a forfeiture OF
hnf hQ oil p
tors shall remain in office until their sue
cessors are duly elected and qualified.
Any Director who Is not able to attend
any meeting Of the Board has the right to
| appoint, in writing, another member OF the
Board to act as his proxy. The officers OF
! this corporation shall be a President, q
Secretary and a Treasurer; the office oil
Yice-President may be created by action
| Of the Board Of Directors; any two Of the
officers may be combined and held by one
| person. The first Board of Directors to
serve until the Tuesday after the first Mon
day In January, 1928, or until their sue
sist of Mrs. Resale Nixon. whose post
| Office address is No. 321S st. Charles
| avenue, New Orleans, La; Miss LYDIA l..
Belden, whose postoffice address is No.
Mr.. Marcus b. Buford, whose postoffice
address is No. 2121 Peters avenue, New
| Orleans, La, with the said Mrs. Rosalie
Nixon as President and Treasurer, and the
IL. ".
| Any vacancy in the Board of Directors
may be filled by the remaining Directors
OF said Board from among the stockholders
OF the common stock. The Board of Di-
rectors shall, have the power and authority
to sell, mortgage, hypothecate and pledge
any and all property owned by the corpor-
alton. either in whole or in part; to pur.
chase, lease or otherwise acquire any prop
erty for the corporation; to make loans,
borrow money, issue notes and other obi
cations the same in any manner permitted
| by daw; in fact II shall have and exercise
an the powers conferred by Act No. 267
ARTICLE VINO stakeholder of this
corporation shall ever be held liable or re
| sponsible for the contracts or faults Of the
| corporation In any further sum than the
unpaid balance due to the corporation on
shares subscribed by him; nor shall any
mere informality In organization have the
| eject of rendering this charter null or OF
exposing a stockholder to any liability be-
yond the amount Of his stock.
| ARTICLE VII-This act of incorporation
may be amended. altered or modified, OF
the corporation dissolved at any time by
complying with the laws Of this State.
| ARTICLE VIII-At the expiration Of
this charter, or the earlier dissolution OF
this corporation, its affairs shall be iiqui.
dated by two commissioners to be elected
Dy the stockholders Of common stock, In
accordance with law, and said commission.
ers are hereby vested with full power and
u
property, real, personal and mixed, of this
corporation, and to convey full and com
piete title thereto. and to do and perform
an, every and any act, matter or thinl
essential or necessary to A fulI and com
piete liquidation Of this corporation, and
10 distribute the proceeds, IL any. In tn,
event OF the death, disability or resignation
OF either OF said commissioners, the sur
vfvor~shall continue to act and be ljkewis.
toned.
Thus done and signed, at my office, In
the City OF New Orleans. on the day
month and year first before written, IN
| the presence Of Messieurs Frank T. Doyle
ana CHARLES Leblanc, competent witnesses
residing In this parish, who have signed
these presents. together with said appear.
the whole.
Original signed: Rosalie Nixon, Lyds
Heieen y: B. Buford. Chas. Leblanc