The herald., 1922-06-08
CHARTER.

to one vote for each share of the capital
stock held by him, and the persons re
ceiying the highest number Of votes cast
at said election shall be declared elected
and the Board of Directors thus elected
shall meet and organize "a soon dIt'T
said election as possible. majority
of the whole Board shall constitute
quorum. and directors absent or undole
TO attend may authorize directors present
TO represent them by written proxy, MED
with the Secretary, and with all the
powers such absentees could exercise II
present in person.
All routine business matters shall be
decided by the majority vote OF the
quorum present at such meeting. not
outstanding anything in this charter or
the law to the contrary nut any matter
or thing affecting the general pollcA,
property or corporate rights Of the cor
pOration shall be adopted only by the
vote of the majority of stock held by
the individual members of the Who'll"
Board of Directors. and proper minute
/ entries shall he made to show these facts.
/ The Board of Directors may establish
/ bylaws. rules and regulations for IA"
| government Of the corporation, ana II
/ may also create committees for the man
I agrmrnt of the several departments OF
/ its business. including an Executive" 'OW-
| mittee of not less than three CD mem
/ beers of the Hoard. which committee shall
! bp empowered to eNercis" all tn" func-
/ tiouS of the Board of Directors during
/ the recess of this Board. save those
Board 81 Directors shall fill vacancies
! occurring in this body during the term
. thereof Meetings of the Board Of pirec.
, tors may be held at such times aS shall
/ IT,. set by the Board itself. or 1T the
| call of the President and at the request
/ Of any two stockholders.
ARTICLE VI. This charter may be
amended and the capital stock increased
and drcr.a sod with the consent Of two
thirds Of all Of its stock expressed NJ
a meeting called for that purpose. or in
any other way permitted by law.
ARTICLE VII. This charter may BE-
] dissolved with the consent of wo-thirdS
of the issued and outstanding capital
stock expressed at a meeting called for
that purpose. or in any way permitted
by law Upon the dissolution OF the cor.
, poratiOn by limitation or otherwise the
Stockholders shan elect from among their
! number one or more HquidatorS, and fix
the terms, conditions and other prOvi.
SionS regarding the liquidation as well
as the compensation of the liquidatorS.
ARTICLE VIII. No stakeholder shall
ever be held liable or responsible fUr
. | the contracts or faults of this corpOr-
| alton in any further sum than the IN
. paid balance due this corporation on the
/ shares owned by him. nor shall any
! mere informality in the organization have
the effect Of rendering this charter null
or of exposing the stockholders TO any
liability beyond the unpaid balance.
ARTICLE IN. Wherever notice is re-
? quired by law or by this charter. the
same may be given in writing. deliv'
! cred in person or sent to the last known
- address. as is prescribed in Article V OF
this charter. and twenty four hours viii
} be- sufficient for all purposes, except
where otherwise prescribed by law. Any
and all notices required by law or by
this charter may be waived by unani'
nous consent OF the Board Of Directors
or the stockholders, as the case may be
; and such waiver shall be entered on the
o. minutes of the meeting TO which they
apply.
2 Thus done and passed in my notarla
office in the city of New Orleans. state
P of Louisiana. ON the date aforesaid, ir
: the presence Of John Dart and Henry
! Grady Price. competent witnesses, who
; have hercunto signed their names witt
the said parties, and they have set GU
l their addresses and the number Of shares
held by them, and me, Notary. afte
: reading of the whole.
original signed; Daniel J. Gay, s.
. Edward e. Gay, by II. J. Gay, shares
T. Biloxi. Miss; Henry :. Turner, l share
. New Orleans, La, Benjamin W. Dart
4 IL shares New Orleans, La; WillOughb.
r \. Cox, 33 shares, New Orleans. La.
! Witnesses:
= JOHN DART.
Y HENRY GRADY PRICE.
J. HENRY 7. DART, JR.,
n Notary Public.
l. i hereby certify that this is true an
= correct copy of the act of incorporate
OF Producers Sales Company, Inc, paSse
? before me on the 18th day of May, 1872:
> the original of which is on file in III
r. HENRY p. DART, JR..
n Notary Public.
n, State of Louisiana. Parish of Orlean
:. City of New Orleans. Before me, th
d undersigned authority, personally cam
:, and appeared Daniel j. Gay and Henri
?. ). Turner who, being duly SWORD b
:, me. dcpOSe and say:
IS That they are two of the original In
- corpOratOrs of the Producers Sales Con
/ pany. Inc. That the entire Twenty nv
= Thousand Dollars (S25,OO0OO) capiti
u stock of said corporation has been sui
n scribed for and paid bt the incorpo
y; atOrs of said company as follows:
w Daniel j. Gay, postoffce Biloxi. Mis-:
:. 50 shares, of which he has paid in cas-
In for 30 shares, 100000, and has agree
n to pay the balance within one year fro
~ Robert K. Long postoffce AtmOre, Ala
n S3 shares. of which he has paid in cas-
r. for 30 shares, or S5.000.0O and has agree
Is to pay the balance within one year fro
a. Edward G. Gay, postoffice Biloxi. Mis-:
70 3 shares, for which he has paid in cas-
"a $500 %.
"a Henry S. Turner. postoffce New o
- leans, La. 1 share, for which he has pal
- in cash $4,000.
: Benjamin W. Dart, postoffce New o
nv leans, La. 81 shares, for which he h.
Willoughby A. Cox, postOffce Ne
Orleans. La, 80 shares, for which he h;
or paid for 20 shares, 100000 in cash, ar
ne for the balance he has agreed to pay Il
RS same within one year from date hereC
90 The appearers further declare tn
OF there has been paid in cash more tn;
ed 30 per cent Of the subscribed capt.
ly stock.
le' Original signed: Daniel J. Gay. Hem
NJ $. Turner.
Sc Sc Sworn to and subscribed before n
be Notary, this 9th day of May, 1922.
OF HENRY p. DART, JR.,
er Notary Public.
m, A true and correct copy:
r. HENRY p. DART, JR..
Notary Public.
lis June 1-JulyS
he -
is CHARTER OF