The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-10
CHARTER.

COnNpnlpnt VTUDtTIE FWFTTWlTIng
aforesaid privileges or enhancing the value
of the properties, rights and privileges of
said corporation.
ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum OF
six thousand (S600O00) dollars, and shall
be divided into and represented by sixty
tGOD shares Of the par value of $4,000
each.
The said stock shall be paid for in cash
or its equivalent, provided by law and
in such manner and at such times and in
such instalments as may be prescribed by /.
the board of directors.
This corporation shall become gOinng
concern and shall be authorized to com
mence business when three thousand dol
lars (S3 900 00) has in fact been subscribed
and paid for in cash or its equivalent a.
provided by law.
ARTICLE v-The capital stock of this
corporation may be Increased to the sum
of fifty thousand dollars (S50.OOOOOl dol
lars by two-third vote of all the stock
at a special meeting called for that pur-
pose or at a regular annual meeting of
the corporation. a
issued by the company shall be signed by
the president and counter>igned by the
vice president. or IL authorized by re>olu-
ton of the board of directors, shall be-
signed by the president and cOunterSigned
by the secretary-treasurer. u
The stock of this corporation can b"
transferred only on the books of the cor
poration and subject to such regulations
and formalities as may be by the board of
directors from time to time prescribed. 4,
No stakeholder shall he permitted 10 sell
or otherwise dispose of his stock without
first offering the same in writing to the
other stockholders through the board Of
directors at price not exceeding the book ,
value thereof, and the stockholders shall
have an option and first right to purchase
all the shares of stock to be thus disposed
Of by sale or by the death. resignation or
otherwise of any of the stockholders Of
the corporation, and shall have a period ,
of m which
such offer of stock. Should the board OF ,
directors or the stockholders decline to :
purchase the said stock, then the stock :
holder or stockholders who made the offer ,
TO sell or otherwise dispose of his stock
may sell or otherwise dispose of il in any :
manner and at any price that he or they
NAV see fit But each share of stock is :
issued under the condition and under =,
standing that no stakeholder shall make
sale transfer of his stock in viola ;
ton of this provision; and such sale or !
company shall be under no obligation TO :
list said stock on its books or to regard :
the holder of the certificate thereof.
ARTICLE VII-The corporate powers L
of this corporation shall be vested in and c
exercised by n board of directors com
posed of no less than three and no more 7
than seven stockholders, in the option of I
the board of directors: two to constitute i
a quorum in the case of three; four, in the I
case of more than three. /
The directors of this corporation may O
vote in person or by written proxy at any /
of the meetings of the board of directors;
and the board Of directors may delegate [
any of its powers to any officer or officers Q
or any other representative of the com n
pany by appropriate resolution to that ef- e
feet. [
The first board of directors of this cor
poration shall be composed of the follow o
ing: Alvin e. johnson Hrma, Jp Tdrrr Lee S a
Johnson and Edwin L. 0liveria, with off O
GERS as follows: Alvin L. Johnson. presi-
dent; Joseph Lee Rhodes, vice-president I
John W. Hymel, secretary-treasurer. and I
they shall serve until the second Wednes-
day in January, 1923. or until their sue
cessors are elected and qualified. Q
The directors shall be elected annually y
the second Wednesday of January in each )
Notice of such meeting shall be given r
ten days prior to the date of the meet !
ing in writing and sent to each stock n
holder at his last known address.
Each stakeholder shall, at such annual d
meeting other meetings, general or o
special, be entitled in person or by proxy 4
TO one vote for each share OF stock owned fl
Elections shall be held under such rules /
and regulations as may from time 10 time T
be determined by the board of directors: 4
The directors when elected shall hold q
office for one year or until their success /
sors shall have been elected and qualified
and failure to hold the annual meeting OF n
tockholders or to elect annually the III :
rectors shall not operate the forfeiture OF d
this charter or any rights Hereunder. .
ARTICLE VIII-This charter or act OF n
Incorporation may be changed; moditied. 5
altered or amended and with the consent
Of two-thirds Of all the stock present at n
any meeting. general or special held for D
that purpose; and such amendments may d
be material or immaterial subject only Z,
10 limitations as may be by law provided; :
and this corporation shall have the power o
TO increase or decrease its capital stock h
rs hereinbefore set out, and any IN G.
in fol ST. in l..
AMOUNT named herein as the amount to s.
which it may be increased, may be made g,
~ a three-fourths vote of all outstanding r,
stock. Il
ARTICLE IX-Notice of any and all r.
meetings referred to I'm this charter or re- n
Iuired by law, shall be given in the man
ler provided for giving notices in case t,
If elections, unless the same shall have W
leen waived. a
ARTICLE Kin case Of dissolution. Of
liquidation or termination of this char nj
# the corporation shall be liquidated by Of
me or more liquidators elected by the nj
who may provide the num- m
'er of said liquidators. and vest them b,
With such power and authority as may by
aw be permitted: fix the terms and con- ST
litiOns upon which they shall serve. and n
heir compensation. and provide that in &C
ase of death or disability of any one TO m
aid liquidators, the remaining liquidators "a
nay fill the vacancy or continue to act hi
N behalf of the corporation. r.
ARTICLE Al-NO StOcknOlder snail ne in
liable or responsible for any costs. con- 81
racts, debts or faults of the corporation. m
n Of any of its officers. nor shall any
mere informality in organization have the h,
fleet of rendering this charter null and m
old. or of exposing any stockholders to M
ny liability beyond the unpaid balance ar
ue on the stock held by him. m
ARTICLE XII-The subscribers hereto
ave written opposite their names the n,
lumber of shares subscribed by each of cd
hem, and their post office addresses. so of
hat this charter may serve as the sub M
cription list of the corporation: all OF In
Which subscriptions are payable in the M
hammer and form set out herein. NO
Thus done and passed at my office. in 70
he City of New Orleans. on the day and ro
n the month and year herein first above
'ritten, and In the presence of Fl. L. Bar sb
EFT and Paul z. ChaseZ. competent wit fr
esses, who have hereunto signed their lie
ames with the said appearers and me, an
otary. after reading of the whole co
witnesses: III. l.. Barnett Paul f. an
hasez. "a
ORIGINAL SIGNED) Uc
(Names of subscribers omitted. af,
tSeaD: WILLIAM J. GCSTE. I'm
Notary Public. ba
Recorded Parish of Orleans, NJ. o. Il. foo foo
26S. folio - W
A true copy: hn
(SeaD: WILLIAM T GJ-STF. ~ ~
ug. 3-Sept. z az ~"