The herald. [volume] (New Orleans, La.) 1905-1953, 1922-05-11
CHARTER.

individual security or pledges OF per
! SOnal property, or upon mortgages on
| real estate or any other security; TO sell
and dispose of any and all of its prop
| erty at any time for cash or on credit
| upon terms to be approved by its Board
of Directors, and to mortgage or pledge
| any or all of its property for the pur-
pose of raising funds for carrying OIL
! its business or enterprises, and gener-
| ally to do any and all things germane
| to the purposes for which the sald cor
| pOratiOn is organized; and the enumer-
| alton of special authorities and powers
| granted to the said corporation, AS above
set forth, shall not be held TO be a re-
| strictiOn or limitation upon the powers
| of said corporation; but said corpora
| ton, in addition thereto, shall have all
| the rights and powers usually granted
| to corporations and authorized by the
| laws of the State of Louisiana.
| ARTICLE ". The capital stock OF
! this corporation Is hereby fixed at the
sum of One Million Dollars (S1OOO,OOO.OO),
to be divided into and represented by
| Ten Thousand 100000 Shares, in the
sum OF One Hundred Dollars (SlOO.OO)
each said stock shall be paid for in
cash or property.
The capital stock of this corporation
may be increased to the sum Of Two
Million Dollars (S2 100000.
This corporation shall commence doing
business and be a going concern at once.
ARTICLE v. All the corporate powers
of said corporation shall be exercised
by a Board of Directors consisting OF
not less than five and not more than
nine stockholders, majority of whom
shall constitute a quorum for the trans
action of business The Board of Direc
tors shall elect annually from their num-
Der a President, one to five Nice-Presi-
dents, n Treasurer, and Secretary.
which two latter Offices may be filled
nv Va .Ar
persons need not be a stakeholder in
this corporation. The President or
Vice President may ALSO act as Treasurer
or Secretary.
sist OF six stockholders and shall be
composed of r. f. Upton. J. NJ Lykes,
J. T. Lykes. II. r. Lykes. +. +. Lykes
and George Fl. Sykes, with J. NJ. Lykes
as President r. f. Upton. F. f. Lykes.
II. T; Lykes J. T. Lykes and George
Lykes as Treasurer, and r. f. Upton
as Secretary. The postoffice addresses
of said directors are as follows: ]. VI.
Lykes. Galveston, Texas; II. f. Upton,
New Orleans, La: George II. Sykes, Gal
weston, Texas; II; T. Lykes, Tampa.
New York, n. Y; F. f. Lykes, p. o.
Box 7SS. Havana, Cuba. These direc-
tors and officers shall serve until the
second Tuesday in January, 1923. or until
and qualified.
Directors may vote by written proxy
In favor of another director.
The annual meeting OF stockholders |
for the election of directors shall be |
held on the second Tuesday in January |
OF each year, unless said day be a legal |
holiday, and then on the next bank day |
thereafter. Each subscriber hereto sets |
after his name his postofice address and |
a statement of the number Of shares Of |
stock which he agrees to take in the
At all elections every stock
holder shall be entitled to one vote for
each share Of stock standing in his name
on the books Of the corporation to be
east in person or by his written proxy.
majority of the votes cast shall elect.
ARTICLE vi. In the event Of the
liquidation or dissolution Of this cor
poration, the stockholders shall elect
two liQuidators from among their num-
Der at meeting convened for that pur-
pose. after ten days written notice sent
% each stakeholder by mail to his last
Known address; said liqnidators shall
have the authority to wind up the bust
hess and affairs OF this. corporation.
In case of death Of either OF said
iquidators, the survivor shall appoint a
'tockholder as successor to him.
ARTICLE VII. No stakeholder in this
corporation can ever sell the stock owned
~ him in this corporation, or any part
hereof. without first Offering the same
n writing, to the other stockholders
through the Board of Directors, at its
hen book value, who will have the first
ption to purchase the same. II
ARTICLE VIII. This charter may be
modified, changed or altered, or said
ssent of stockholders owning three
ourths OF the entire capital stock. at
general meeting Of the stockholders
onvened for that purpose, after fifteen
lO days written notice shall have been |
iven to each stakeholder. mailed to him
his last known address. I
ARTICLE TX. No subscriber for stock /
70 ever be held liable for the con-
racts, faults or debts of said corpor-
ton In any further sum than ,the I'M :
aid balance. IL any, due the corpora
on on the stock for which he has sub
sriped; nor shall any stakeholder ever :
e held liable for such contracts. faults
debts In any further sum than the $
npaid balance, If any, on the stock
wned by him; nor shall any mere in 9
'rmality in organization have the eff B
ct Of rendering this charter null. or o
lndering any subscriber or stakeholder e
able beyond the unpaid amount, IL any. /
naming due on his stock S
ARTICLE X. This corporation is v
'ganized under the laws of the State {
louisiana ,0, and especially Act No. 267 $
1914. and the subscribers hereto. for e
and said corporation. and for a
s officers, directors and stockholders. n
areby accept. as part Of this charter a
Id as conditions Of said corporation, 4
u the rights, powers, privileges and n
imunities granted to corporations. and
'anted to and conferred upon officers, II
rectors and stockholders Of corpora il
ons by said laws and said act; such O
ceptance being as full. complete and Il
nding as IL said rights, powers, priv a
sges and immunities were set forth ar d
III length in this instrument. D
Thus done and passed in my notariai o
nee in the City Of New Orleans. afore- a
ID, In the presence Of Frazer L. Rice a
ID Holger G. Kohnke, competent wit p
sses Of lawful age and residing in this Il
~, who hereunto subscribe their Names, a
gether with said parties and me. No el
~, on the day and date set forth In Il
e caption hereof. p
Names Of subscribers omitted) a.
Witnesses: IL
FRAZER L. RICE,
HOLGER G. KOHNKE. a,
w. w. YOUNG, &C
NAta MI 4