The herald., 1922-08-03
CHARTER OF STEWART BROS. COT
TON co. INC

CHARTER OF STEWART BROS. COT
TON CO.. INC.
United States of America State Of Louis
lana. Parish of Orleans. BE il known, that
on this 23rd day of the month of June. in
the year of our Lord one thousand, nine
hundred and twenty-five, O922) and of
the Independence of the United States of
America. the one hundred and forty sixth.
before me, Watts h. Leyerich. notary
public duly commissioned and qualified.
in and for the Parish of Orleans. State of
Louisiana. therein residing and in the
presence of the witnesses hereinafter
named and undersigned, personally came
and appeared. the several persons whose
names are hereunto subscribed. who de-
clared that. availing themselves of the
laws Of this State relative to the organi-
cation of corporations, they have cove
nanted and agreed. and do by these pres
ents covenant. agree, bind, form and con-
stitute themselves, as well as such persons
as may hereafter join or become associat-
ed with them, into corporation or body
polite in law, for the objects and pur-
poses and under the agreements and stip-
ulations following, to-w1t:
ARTICLE THE name and title Of this
corporation shall be Stewart Bros. Cotton
Co. Inc. and under its corporate name 1t
shall enjoy succession for the full term
and period of ninety nine years from and
| after the date hereof. and shall have power
and authority to contract sue and De
sued: to accept and receive mortgages
pledges or other hypOthecatiOns; to make
| and use corporate seal ana the same TO
break and alter at pleasure; to purchase
receive. lease, hold or otherwise acquire
and convey, as well as mortgage and ny
pOthecate under its corporate name pro-
perty both real, personal and mixed; to
borrow money and make and issue bonds
| and other evidences of debt and to secure
the same by mortgage and otherwise; to
| subscribe to and hold stock in other cor
pOratiOns: to acquire. hold and REISSUE
shares of its capital stock; to carry out
all Of the objects and purposes hereinafter
| set out: to name and appoint such man
| ayers and directors. officers and agents
| as the interest and convenience of said
corporation may require; and to make and
establish, as well as alter and amend al
pleasure such bylaws, rules and regula
| tiOns for the management and regulation
of the affairs of the corporation as may
/ be necessary, proper or convenient; and
| generally to do all such acts and things
| to do under the laws of the State Of Louis
| lana.
ARTICLE 1.-THE domicile Of this cor
pOration shall be in the Parish of Orleans
State of Louisiana, and all citations oil
other legal process shall be served upoT
the president of the company, or, in hi:
absence. upon the vice-president.
| ARTICLE III-The objects and purposes
| for which this corporation Is organized
and the nature of the business to be car
| rled on by IL are hereby declared TO De
To purchase or otherwise acquire, and tt
| sell or otherwise ALLEVIATE or dispose OF
and to mortgage, pledge, hypothecate, ex
| port and deal in cotton and other agri
cultural products, spot and future; to Dc
| a general cotton merchandising and ex
port business; to do general commission
| factorage, mercantile, warehouse ant
manufacturing business in connection will
cotton or any other staple product; q
purchase sell and deal in stocks, bonds
| commercial paper, obligations and securi
ties of other individuals, firms or cor
| pOrations; to carry on a general invest
ment and underwriting business; to pur
chase. use, cultivate, hold, improve, sell
mortgage, pledge, or otherwise deal IL
| and dispose Of real FOR personal property
plantations and /or city and /or tow
property; to exchange its entire capita
stock, or any part thereof, for propert!
which Ii is authorized to acquire; to ex
chnage its entire assets and business. o.
any part thereof. for property, stocks
bonds. or other obligations of other com
panies, firms or individuals; and gene
ally to do all acts and things necessary
convenient or appropriate to the accom-
plishment Of any Of said purposes or ger
name thereto.
ARTICLE Iv-The presently authorized
capital stock of this corporation is hereb.
fixed at the sum of one million $4,000,
900 OO) dollars, divided into and represent
ed by ten thousand 100000 shares Of tn
par value of one hundred (S1OOOO) dollar
be increased to five million ($5,0O0, 600
dollars.
| ARTICLE v-No transfer Of stock shal
be binding upon the corporation unles
and until made and recorded upon II
hooks. No stakeholder shall have righ
stock in the corporation unless and unit
he or she shall have first made a write
offer to the other then stockholders of tn
corporation and to the corporation itseh
book value thereof. "Book Value" as use
herein is hereby defined to mean the valu
at which the assets and liabinties or Tn
have been s in good 1t faith o
shall be addressed to the other the
itself, collectively, and shall be delivere
to the office Of the corporation not les
transfer of the stock. The corporate
shall transmit this offer to the respectiv
then stockholders and the stock OF IN
stockholders desiring to sell shall be dis
tributed pro rata among such or IN
, other stockholders as desire TO purcnas'
! in the proportion In which the holdings.
the stockholders DESTROYS Of purchasin
! bear to each other: and II the total whlc
such other stockholders desire to purchas
is less than the total offered for sale, the
after each of the other stockholders sha
have taken and paid for the amount
stock which he or she desires TO buy an
TO which he or she is entitled, then the n
. mainder untaken shall be open for pui
chase by the corporation itself; and ur
less prohibited by law. the corporatio
may itself use and apply its surplus carr
! ings or accumulated profits to the pull
: chase from any stakeholder desiring !
sell of any portion Of that stocholder
stock which none Of the other stoci
holders may desire to acquire, at the boo
value thereof; provided, that the corpora
ton shall not apply any of its capital !
/ the purchase of such stock but shall a