The herald., 1921-07-21
CHARTER

up and dissolve itself, or be wound up |
and dissolved in the manner prescribed
by law. 1t may conduct business in this
state. other states, the Federal DistrlCts,
TN. Territories and possessions OF the .
United States, and in any foreign country.
1t generally shall possess all the powers,
rights, privileges and immunities when
are and may hereafter be au-
to possess under the Constitution |
and laws of this state, and particularly |
under Act No 267 of the Acts of the |
General Assembly of the State of Louis
lana for the year 1914. And II shall have
the power to invest its board of directors |
with all of its corporate powers, subject |
to such restrictions as may be named III
this charter.
ARTICLE 1.-THE domicile of this cor
pOration shall be in the City of New Or |
leans, Parish of Orleans, State of Louis
lana, and all citations OF other legal pro !
cess shall be served upon its president. or
in the event of his absence, upon the vice
president or in the event of the abselce OF
outn of said officers, upon the secretary.
ARTICLE III-This corporation shall
have the power to conduct its business III
all of its branches in any of the States,
Territories, or possessions of the Jnlt"d
states as well in foreign countries, ana
may have one or more offices outside OF the
State of Louisiana.
The objects and purposes for which the
said corporation is formed, and the nature
uI the business to be carried on by II are
.crrDy declared to be:
Seton l. To plant. cultivate, grow, pro
duce manufacture, refine, buy, sell, I'M
port. export, ship, transport, and generally
zeal in sugar cane, sugar, mOlasses, Syrup>'
and all the products thereof, and to carry
on any business incidental thereto. and for
the purpose aforesaid, to acquire, con
struct, lease, own, maintain. and operate
sugar or other plantations, sugar or other
rehneries, and any buildings, mills, fac
tories, distilleres, and other works, neces-
sary therefor; TO raise, buy, sell and deal
in horses, mules, cattle, HNestock ana
poultry of all kinds, and generally TO en-
-age in the business OF planter; TO build.
buy, rent, sell, establish, maintain, operate
anu conduct sawmills, hotels, stores, ware
houses, depots, etc, and to do general
| merchandise business.
Section > To bid in, buy, sell, acquire,
| lease sublet or farm for its own account
or for the account of others, real estate,
| lands and tenements, and TO survey, SUD
| divide and plat such lands for the purpose
| of sale or otherwise, and to improve and
| develop the same by the erection OF houses
| or buildings thereon, and to do such other
! d.IuI 4.... ,ments as may be needful or
| desirable in and about the improvements
| or development thereof for any purpose
| whatever, and particularly to drain ana
| reclaim lands, and for that purpose TO form
| co.. - or subdrainage districts, or 10 DO
any act which an individual might lawful
| Iy do.
Section 3. To purchase, acquire, receive,
| hold, own, pledge, sell and dispose OF
stocks. bonds, mortgages, debentures
notes and other security or evidence OF
! indebtedness of any firm, association, in
dividual or corporation, or OF any state
| parish. county ward, drainage or sub
drainage district, or any political sub di
| vision in the State of Louisiana or else
where
| Section 4. To construct, purchase, lease
or otherwise acquire and own, maintain
| and operate steamboats,, SAILING vessels
barges and other water crafts, piers, docks
or wharves, and such lines of tramway oil
railway within the State of Louisiana oil
elsewhere as may be convenient, necessary
or incidental TO any business or enterprise
of the company, with all necessary sid"
tracks, locomotives, cars, depOts rounC
houses and other equipment necessary Il
the operation of saiu piers, docks, wharveS
tramways, or railway. and the trafl'
thereon; provided, that this corporation
shall not, without an amendment of this
charter. have the right to exercise power
of eminent domain.
Section ). To carry on any other bust
ness which under the law il may be en-
titled to carry on which may seem TO th'
corporation TO be calculated directly or III
directly to eIfectuate the aforesaid objects
or either of them, or to facIiitat" II i'll The
transaction of its aforesaid business o
businesses, or any part thereof, OF IN TIT
! transaction OF any other lawful business
! that may be calculated directly or indiI ect
ly to enhance the value or to render profit
able any of the eOmpanys properties ant
rights, and generally to hold and eNercis
all such incidental powers anu privilege
as relate to the objects and purposes here
! inbefore set forth, or as may be necessary
useful or convenient for effecting said %
, jects and purposes.
ARTICLE Iv-The total authorized cap
, itsl stock of this corporation is hereb
declared to be the sum of Two Million fiv
\ hundred Thousand t$2, 500 100000 Dollars
r and may be increased as provided by laN
to the sum of Three Million Five Hun
dred Thousand O0,OOO.0O) Dollars. U
n the presently authorized capital of Tw
Million Five Hundred Thousand ($2,JOO
$4,000 Dollars, eleven thousand five hui
dred Q1,500) shares shall be preferre
y stock of the par value of one hundre
: (x1OOOO) Dollars per share, amounting
q aggregate to one million one hundred lift
thousand Isl, $50, OO0.OO) Dollars, and thi
! teen thousand five hundred t13,j0O) share
! shall be common stock of the par valu
!, of one hundred 100000 Dollars per shar
= three hundred fifty thousand ($t,3JO,OO,
| Dollars. The said capital stock shall
fully paid and non assessable when issue'
ana snail be represented by certificates an
shall be personal property. NO transit
! of said capital stock or shares shall
!, binding upon this corporation unless mad
= in accordance with its charter and b.
!, laws and recorded on the books thereof.
e ARTICLE v-The holders Of the pr
ferred stock of the company are entitled
receive, and the company is obligated
pay thereon out of its profits or earne
T. surplus, cumulative dividends at the IA
= of eight per cent (S%) per annum from Il
e date of issue, and no more, payable al
d nually on the fifteenth day Of March, sue
20 dividends to be payable before any div
! dend is paid or set apart on the commo
| stock Should the net profits or earne
It surplus accumulated at the time of payin
y dividends on said preferred stock be IL
sufficient for such purpose, the unpa
part of such dividends shall be paid out
c. the future net profits or earned surplus
the company, and no dividend shall at az
= time be payable. paid or set apart on q
J, common stock until all accrued and a
| cumulated dividends on the preferrs
stock shall have been declared ana paid,
set apart for such purpose. Whenever q
accrued dividends for previous years {
!, said preferred stock shall have been pal
- and the dividend payable thereon for Il
:, current dividend period declared and eth
a apart, dividends on the common sto'
~ may be declared and paid out Of any r
naming net profits or earned surplus.
,e The preferred stock Is redeemable
a. any dividend payment day, either In Vho
le or in part at the option Of the board
r directors, by the payment thereof OF Of
Re hundred (S100.00) Dollars per share, I
10 gether with all accrued and unpaid div
L, dends; such redemption to be In such ma
Id ner and In accordance with such rules al
te regulations as may be provided by I
tie board of directors Of said company fro
rs time to time but the company shall "a
CT thirty 1907 days notice to the holders OF I
ne stock intended to be redeemed Of Its
~ tention to redeem such preferred stot