The herald. [volume] (New Orleans, La.) 1905-1953, 1921-12-08
CHARTER.

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| rectors officers, agents and other EN-.
| ployees as the interest and convenience OF
| said corporation may require or demand ;
| to make and establish such bylaws, rules
and regulations for the corporate man
| agement and control of the affairs OF the
corporation as may be deemed necessary
and expedient.
| ARTICLE 1.-THE domicile Of said
City of New Orleans, in this State and all
| citations and other legal process shall be
| served on the President and, In his alb
sence, on the yice-president.
| ARTICLE III-The objects and pur-
poses for which this corporation is or
| ganized and the nature of the business
| to be carried on by 1t are hereby declared
to be: to engage in the general exporting
| and importing business, particularly to
receive on consignment and TO consign
cotton and other products and to execute
all orders for the purchase or sale OF cot
| ton for present or future delivery, and
/ generally to engage in, conduct and pro-
mote such other business or enterprise as
may be germane, incidental to. or may
grow out Of, the concern contemplated
| by this act
this corporation is fixed at the sum of
| Twenty-Five thousand ($25.0OOOO) Dol
lars, divided into two hundred and fifty
shares of the par value OF one hundred
dollars each. All shares Of stock shall
| be full paid and non assessable. No trans
| fer of stock shall be binding upon the
cOrporation unless made upon its books
and all certificates Of stock shall be sign
| ed by such officer as may be designated
| by the board of directors.
| This corporation shall have the right to
| Increase its capital stock to a further sum
Of one hundred thousand (s1OO.OO.OO) dol
| lars, to be divided into shares Of one hun
| bred dollars each. provided said increase
in the capital stock shall have been au-
thorized by the stockholders at a meet
| ing to be held pursuant to law.
! ARTICLE VAN the corporate powers
| Of the corporation shall be vested in, and
the management and control Of its affairs
| shall be exercised by a board OF directors
! composed Of three stockholders, the mem
| bership of which may be increased to a
number not exceeding seven, by the
board of directors at any Of its regular
meetings. A majority of the directors
| shall constitute a quorum for the trans
action of all business. The directors shall
be elected annually by ballot on the first
! Tuesday in November in each year. Each
! stakeholder shall be entitled, In person
or by proxy, to a vote for every share
| owned by him and all elections shall be
held under such rules and regulations as
may be determined by the board Of direc-
4 tors after fifteen days notice by mail
each stakeholder at his last known ad-
dress. The directors thus elected shall
continue in office for one year, or until
their successors shall have been duly
elect shall be regarded as a forfeiture OF
this charter. Any vacancy occurring on
said board shall be filled by the remain
ing directors for the unexpired term; the
tional members in case they should deter.
mine to increase the number Of said
board. Said board Of directors shall al
it's first meeting after its election, nomi-
nate out Of Its number, a president,
vice president and a OBSERVATION-DISCLOSURES
IL may divide the functions Of the last
mentioned officer and may elect a secre-
tary who need not be either a director oil
stakeholder. Said board shall have the
right to appoint and dismiss such clerks
managers and other employees Of the
corporation, including the secretary who
is not a stockholder, as conditions may
justify or the business Of the corporation
may require. The tenure Of office Of all
the employees OF the corporation shall be
during the pleasure of the board Of di-
rectors. Any of the directors shall have
the right to appoint, by written instru-
ment another directors or stakeholder
| to act as his proxy and in his stead at
any and all meetings OF the board OF
| directors.
ARTICLE VINO stakeholder shall
Ter be held liable or responsible for the
contracts. faults or debts Of said corpor-
alton. nor shall any mere informality in
dering this charter null, or of exposing
a stakeholder to any liability beyond the
unpaid balance due on the shares owned
by him.
ARTICLE vII.-This act Of incorpora-
ton may be changed, modified or altered
| or this corporation may be dissolved,
with the assent of the stockholders own
ing two-thirds Of all the stock Of the cor
poration at a general meeting convened
| for that purpose, and after at least ten
days written notice of this meeting has
been given through mail addressed to
each shareholder at his last known place
| of residence. In case Of dissolution by
| the expiration of this charter or other
wise. the stockholders shall elect three
liquidators from among their number. to
| liquidate and settle the business and af-
fairs of the company. In case Of death
| or disability Of any one of said commits
the remaining liqnidators shall appoint a
| successor to him. The said liquidators
shall have full power to settle the CON-
pany's affairs. collect outstanding debts
and divide the remaining money and
property among the stockholders. They
shall also have power to meet and act
under the bylaws Of the corporation and
jority of said nquidators; to fix the price
aud prescribe the terms of sale of said
property, and the manner in which the
sale shall be made, and take notes and
bonds secured by MORTGAGE. and other
all or any part Of said property, provided
however. that the rights herein conferred
upon the liquidators may be modified
changed or denied by majority Of tn,
shares of the capital stock Of the cor
poration. The said liquidators shall hav,
the authority to sue for and recover tn,
debts and property in the name Of tn,
corporation and may be sued in the same
name, and they shall be liable in solidt
to any creditor or stakeholder for tn,
monies and property of the corporation
which shall come to their hands or pos
session as liquidators and for the proper
application and distribution thereof.
ARTICLE vIII.-The entire capita
stock Of this corporation has been sub
scribed at the time Of the signing Of thii
charter as follows: John Ernest Stahel
whose address is Metairie Ridge, JET
ferson Parish. La. 30 shares: Mrs. Kat
Klumpp-Stahel. whose address Is Metairi,
Ridge. Jefferson Parish, La, $50 shares
and Harry F. Stahel. whose address Il
Metairie Ridge, Jefferson Parish, La,
50 shares.
ARTICLE Ix.-Until the election to b.
held in November. 1922, the following
shall constitute the first board Of direc
tors. viz: John Ernest Stahel, president
Mrs. Kate KlumpP- stahel, vice-presi
treasurer.
Thus done and passed in my office
on the day. month, and year first allow
written, in the presence of Frank B. Two
mey and Joseph L. Weiss, competent wit
nesses, who have signed with the ap
hearers and me, the notary, after reading
the whole.
Original signed: Mrs Kate Stahel. IS
shares; J. r. Stahel 80 shares: Harry