The herald. [volume] (New Orleans, La.) 1905-1953, 1921-01-13
CHARTER.
CHARTER OF THE TRIPLE PROOF
LEATHER Betting COMPANY, INC.

United States of America, state OF LOU
isiana, Parish Of Orleans, city OF New or,
leans Be IL known, That on this third
day of the month of January, In the yea.
of Our Lord one thousand nine hundred
and twenty -one, and OF the lndepehuenee
of the United States OF America, the one
hundred and forty fifth, before me- w.
Morgan Gurley, Notary Public, duly com
missioned and sworn, In and for the city
and Parish of Orleans, therein resiulns'
and in the presence of the witnesses mere
matter named and undersigned. personally
came and appeared, the several persons
whose names are hereinafter subscribed;
all of full age of majority, VINO declared
that, availing themselves OF the proSislons
of the Constitution and laws OF this state
relative to the organization of corporations
they have covenanted and agreed ana 90
by these presents, covenant ana agree 70
form and constitute themselves into u cor
poration and body polite In law, win sucn
persons as may hereafter become assoei-
ated with them, for the objects ana pur-
poses and under the articles, agreements
and stipulations following, which they
adopt as their charter, to-wit:
ARTICLE 1.-The name and style OF this
corporation shall be Triple Proof Leather
Betting Company, Incorporated, with lts
domiciie in the City Of New Orleans, Lou
isiana, and under that name II shall nave
and enjoy all the rights, advantages ana
privileges granted by law to Corporations,
and shall exist for the full term ana period
of ninety nine years from the date hereof.
IL shall have power to contract, sue ana
be sued; to make and use corporate seai,
and the same to alter or break at pleasure'
to own, hold, receive, loan, lease, purchase,
sell and convey, as well as mortgage and
hypothecate and pledge property, botn reai
and personal, and mixed, corporeai ana
incorporeal; borrow money and issue EVIL
dence of Indebtedness. secured ana un-
secured to name and appoint such mana
gers. directors, officers, agents ana otner
employees as its interests and convenience
NAV require, and to make and estabiish, as
well as alter and amend, from time 10
time. such bylaws, rules and regulations
as may be necessary and expedient Tor tne
proper management and government OF tnt
affairs of the said corporation, and gener,
ally to have, enjoy and exercise any a ai
lowed by the Constitution and laws OF this
state to similar corporations, and DO any
and all acts and things necessary TO carry
on Its business or that Its interest anu Gun
venience may require.
ARTICLE 1.-THE objects and purposes
for which this corporation Is formed ant
the nature Of the business to be carried Oh
nv II is hereby declared to De: To manu-
facture and deal In leather, leather pclt
ing, and any and all leather goods, an
every kind OF betting, and articles tneret
allied or into which leather may enter, o
be part of: To buy, sell, receive. alienat
and deal in any and all leather speciaitles
to tan, treat and prepare, hides, skins an
deal in same. II shall have the right
deal in any nature of merchandise Q
wholesale or RETAIL and to pledge, pawn o
mortgage any Of Its property, movaple
and incorporeal and to do all business an
things, incidental or pertaining to sal
manufacture, merchandise and business
ARTICLE Iu.-The capital stock Of thl
corporation is hereby fixed at the sum
fifteen thousand ts15.0Oo00) dollars, TO .
divided into. and represented by one nun
dred and fifty Q50l shares Of the par valu
of one hundred dollars t$10O.00) each, pa,
able In cash or its equivalent.
The subscription of Il. A. Usina, 33l
Carondelet Street to las shares Of the cap
tai stock Of this corporation OF the pa
paid In full as follows: $4,000, in casl
and the balance of $11,10000. is paid b
the delivery to this corporation Oh IN
property detailed and itemized on the a
tached list or inventory OF mercnandis
shop machinery, furniture and hxture
which property Is appraised by the ID
rectors herein named at the sum OF $1l
10000. eleven thousand, one hundred do
lars.
The capital stock Of this corporation ma
be increased to the sum of one hundre
thousand dollars 100.000.00l, divided int
one thousand shares OF $1,000 each. In
corporation shall be authorized to con
mence business and be a going concern q
soon as half of its capital stock has bee
subscribed and paid for. Should an
stockholder desire to sell his stock, he sha
first offer the same to this corporation
through its Secretary-Treasurer at II
book value and the stockholders who d
sire to purchase shall have the right
purchase same In the proportion to the
respective holdings of stock in the con
pany. should any stockholder not wish
purchase his proportionate share, then n
share shall be offered to the tother stool
holders proportionate to the number
shares owned by them. Should this co
poration, or said stockholders, In ten ia,
after notice having been given in writin
fail or refuse to purchase the stock offers
for sale, such stock may be sold to an
one. No transfer Of stock shall be made
held to be valid and binding unless mat
pursuance to the provisions Of tn
arter and on the books. Of the compan
ARTICLE Iv.-All the corporate powe
OF this corporation shall be exercised I
and vested in q Board of three Director
each Of whom shall own in his own nan
at least one share Of the capital stock u
pledged. Any two of said Directors shs
constitute a quorum for the transaction
all business. The first Board Of Direct to
Is declared to be 4. Aubriel Usina. S3
Carondelet Street. New Orleans, La; Wi
liam 8. Launstein, AGO Arts Street. Ne
Orleans, La: II. Aubriel Usina. Jr.. o
West 137th Street. New York. New lor
with the said II. Aubriel Usina, as Pres
dent and Treasurer, the said William
Launstein, as Vice President, and the Sc
rotary shall be elected by the Board Mt
NV Which said Board of Directors and o
6cers shall hold their Offices until the mr.
Tuesday in December. 1927. at which tin
and annually thereafter, the stockholde
ahall elect directors, and the said directo