The herald., 1922-01-19
CHARTER

same for general agricultural and stock
raising purposes and to that end to ac-
uuirc, by purchase or otherwise, 10 hoIu'
| lease sell, to improve. 10 mortgage u
I cultivate or to deal in real estate LANDS
| and improvements thereon, and properties
| Iorgted thereon incident thereto or con
uectcd herewith; to reclaim or improve
any such lands and to lay out same IN
| farms towns or suburbs thereof; TO eS-
| t3blish and dedicate squares, streets, al
| leys and canals for navigation ana drain
| ggr. 70 pave streets aud sidewalks; to
Law down sewerage and drainage ana
/ water pipcS and CouduitS for electrical
| and other purposes; ana IN cOhhectlo"
| Herewith to construct and operate plants
| for the creation and distribution OF hEht
| heat and power either by gas or electri-
city. or both: 70 construct and operate
| drainage and reclamation plants; to con
| Syrllct or 10 have constructed buildings 81
| all kinds. docks. wharves. canals and
! humping plants: to establish Industrial
and manufacturing sites or to lease ITS
| pr0pcrty or any part thereof for such pur
| poses: to engage in all manner of agri
| cultural and stock raising operations up
| on said land owned or leased by IT; TO
| lease lis property or any part Thereon Tot
| such purposes; to engage in any ana all
manner of land development and land
| selling plans and operations; to exchange
| its capital stock or any part thereon Tor
property: to issue and to give mortgages
and pledges in such manner and form aN
| il NAV determine: 10 acquire and hold,
| or dispose of stock i'm other corporations
and TO acquire and retire or reissue upon
| such terms and conditions as its Board
of Directors may determine: To own stock
or bonds and generally To do any and all
things necessary and proper, incidental
or Dertinent TO the powers herein set
forth. or the business hereby authorized.
ARTICLE IV-The capital stock of this
CORPORATION is hereby fixed at the sum
of Fifty Thousand Dollars ($jOOOO.W),
TO be divided into and represented by five
hundred (jO0) shares of the par value or
One Hundred Dollars $lOO.OO) each.
ARTICLE V-This corporation shall
become "A going concern and shall be au-
thoriZed to commence business as soon
as Twenty five Thousand Dollars (S2J,OOOD
of its capital stock shall have been paid
for. either in cash or its equivalent as
provided by law. The stock of this cor
pOratiOn, or any part thereof, may be
delivered to any person, firm. asSocla-
ton of persons or corporation in return
for the acquisition by the company of any
property owned or controlled by such
person, firm. association of persons or
corporation, or in payment Of other prop
critics or other services rendered, and the
stock of this corporation may, as here
inabove provided, be acquired by 1t in
such manner and under such terms as
its Board of Directors may from time to
time determine.
The capital stock of this corporation
may be increased TO the sum of One Hun
dred Thousand Dollars $100,000O0), by
vote of twO-thirds of all the stock out
standing, at a special meeting called for
that purpose. or at a regular meeting OF
the corporation.
All certificates of stock issued by this
company shall be signed by the President
or by the Vice President of the company,
and countersigned by the Secretary. Treas
urer of the company. The stock of this
corporation can be transferred only, on
the books of the corporation and subject
to such rules and regulations as may be
by the Board of Directors from time to
time prescribed.
ARTICLE VI-Section AL corporate
powers of this cor Grafton shall be vested
in and exercised by a Board of Directors
composed of five members elected from
the stockholders. \ majority of the Di.
rectOrs shall constitute a quorum for the
transaction of business. Said Directors
may vote in person or by proxy, written
or telegraphed, at any or all meetings of
Directors, regular or special.
The Board of Directors shall be elected
annually at the regular annual meeting
of the stockholders to be held on the
second Tuesday in January of each year.
The first Board of Directors shall bs
composed of the following:
Walter j. Suthon, Jr., 1915 Eighth ST.,
New Orleans, La.
Manning W. Heard, 1905 State ST., New
Orleans, La.
Nicholas Callan, 1888 Felicity St., New
Orleans, La.
Leo NJ Coogan, 1907 Banks St., New
Dora Ellis, 4314 s. Claiborne St., New
Orleans, La,
with Walter ]. Suthon, Jr., as President,
Manning W. Heard, as Vice-President,
and Nicholas Callan, as Secretary Treas
urer.
The aforesaid Directors shall hold their
Office until the second Tuesday in jan
uary, 1922. or until their successors are
elected and qualified.
Section 2. All elections of Directors
shall be by ballot at the Office of the
corporation under the supervision of the
Board of Directors under such rules and
regulations as the Board of Directors may
from time to time prOmulgate.
Notice of meetings of stockholders regu-
lar or special except as otherwise herein
provided, or except as otherwise required
by law, shall consist of notice sent In
writing to each stakeholder at his last
known address as ii appears on the books
of the corporation, fifteen days prior to
date of said meeting. Failure to desig
nate an address shall permit notice to
be sent to such place as may by the Board
Of Directors be determined and to be sent
to General Delivery and shall constitute
full and complete notice. Each stockhol-
der at the annual or any other regular
or special meeting, shall be entitled tC
one vote for each share of stock owned,
and the vote of any stakeholder at any
meeting may be cast by written proxy
provided that II the stock shall hereafter
be classified, the stockholders within it's
given class shall be restricted to voting
for the number of Directors and in the
manner permitted to stockholders of that
class by the bylaws
Section 3. Should vacancy occur in
the Board of Directors, same shall be
hlled by the remaining Directors by the
election for the unexpired term of a stock
holder having the qualifications provided
| by the bylaws. Failure to elect Direc.
tors on the date specified shall not dis
solve the corporation, but the directors
| shall remain in Office until their success
sors are elected and qualified.
Section 4. The Board of Directors at
| their first meeting following the annual
election shall elect form their number a
President, a ce-President and a Secrc-
| tary Treasurer. The Board Of Directors
| may elect, not necessarily from their num-
Der, such other officers or agents as to
them may seem advisable
Section >. The Board of Directors Is
hereby given all power to carry on the
business and affairs of the corporation,
and to make all rules and regulations not
inconsistent with the terms of this char
ter.
Section 6. All notices provided for
whether to stockholders or directors
meetings. may be waived by wIitten OF
director.
ARTICLE vII-Section Whenever
this corporation shall be dissolved or IL