The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-13
CHARTER OF STEWART BROS. COT
TON CO, INC.

july Id aug IL.
CHARTER OF STEWART BROS. COT
TON CO.. INC.
United States of America State of Louis
lana. Parish of Orleans. Re il known, that
on this 23rd day of the month of June. in
the year of our Lord one thousand. nine
hundred aud twenty-five. (l922D and OF
the Independence of the United States of
America. the one hundred and forty sixth.
! before me. Watts h. Leverlch. notary
bubble duly commissioned and qualltled.
| in and for the Parish of Orleans. state OF
| IouiSiana 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. VINO de-
! clared that. availing themselves or 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 assoclat-
I'D with them. into corporation or body
| politic in law. for the objects and pur-
/ poses and under the agreements and stlp-
ulations following. to-wlt:
| ARTICLE 1.-The name and title of this
corporation shall be Stewart Bros. Cotton
| Co. Inc, and under its corporate name II
| 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 10 contract. sue ana De
| sued: to accept ana receive mor'Haste'
| pledges or other hypOthecatiOns; TO make
! and use a corporate seal anu the same TO
| break and alter at pleasure; to purchase,
| receive lease, hold or otherwise acquire
and convey. as Wei as mortgage ana ny
| pothecate under its corporate name pro-
! perty both real, personal and mixed 10
| borrow money and make and issue bonds
and other evidences OF debt and TO secure
| the same by mortgage and otherwise; 10
subscribe to and hold stochsin other cor
! pOratiOns; to acquire. hold and reissue
| shares of its capital stock; to carry out
! all of the objects and purposes hereinafter
1 set out: to name and appoint such man
ayers and directors, officers and agents.
| as the interest and convenience or SAID
corporation may require; and to make and
establish. as well as alter and amend at
pleasure such bylaws, rules and reRula
tOns for the management and regulation
of the affairs of the corporation as may
be necessary, proper or convenient: anu
generally to do all such acts and things
! as trading corporations are authorized
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 or
other legal process shall be served upon
the president of the company, or, in his
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
To purchase or otherwise acquire. and to
sell or otherwise ALLEVIATE or dispose OF
and to mortgage, pledge, hypothecate, eN-
port and deal in cotton and other agrl-
cultural products, spot and future; TO dc
n general cotton merchandising and eX-
port business: to do a general commission
factOrage, mercantile warehouse and
manufacturing business in connection with
cotton or any other staple product; To
purchase. sell and deal in stocks, bonds
commercial paper. obligations and securi-
ties of other individuals, firms or cor
POrations; to carry on general invest
ment and underwriting business; to pur-
chase use, cultivate, hold, improve, sell
mortgage. pledge. or otherwise deal In
and dispose of real Tor personal property
plantations and Ior city andIor t0wI
stock. or any part thereof, for property
which it is authorized to acquire; to eX'
chnage its entire assets and business, oil
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 S1OOO
NOOOO) dollars, divided into and represent
ed by ten thousand 100000 shares of TIL
= par value OF one hundred (S1OO.OO) dollar
/ per share. The amount of said stock ma!
) be increased to five million $4,000, 10000
! dollars.
ARTICLE v-No transfer Of stock shall
be binding upon the corporation unles
, and until made and recorded upon II
books No stakeholder shall have RICH
to transfer or convey any or MS or ne
stock in the corporation unless and unti
he or she shall have first made a writer
: offer to the other then stockholders OF tn
, corporation and to the corporation itself
to sell his or her stock to them AT IN
a book value thereof Book Value" as use'
herein Is hereby defined to mean the valu
mt which the assets and liabilities of tn
. corporation have been in good faith en-
! tered upon its books. Such written one
shall be addressed to the other the
: stockholders. and to the corporation
o itself collectively, and shall be delivered
: to the office of the corporation not les
: than ten days prior to the application 10
, transfer of the stock. The corporation
4 shall transmit this offer to the respectlv
. then stockholders and the stock of tn
= stockholders desiring to sell shall be dls
4 tributed pro rata among such or IN
. other stockholders as desire TO purchase
I in the proportion in which the holdings o
. | the stockholders DESTROYS of purchaSln
: bear to each other; and II the total who
= 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 o
stock which he or she desires to buy an
70 to which he or she is entitled, then the re
mainder untaken shall be open for pur
;. | chase by the corporation itself; and un
: less prohibited by law. the corporate
Q may itself use and apply its surplus earn
I ings or accumulated profits to the puI
= chase from any stakeholder desiring I
N sell of any portion of that StochOlder
! | stock which none of the other STOCK
h holders may desire to acquire at the boo
h value thereof; provided, that the corpora
r ton shall not apply any OF Its capltal I
n the purchase Of such stock but shall al