The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-17
CHARTER.
brick and timber, lumber. hardware and
other building material or requisites.

may De increased IN the ndHueT pEONlucu
by law to the sum of one hundred thouS-
and dollars, ($1OOOOOOO). The presently
authorized capital stock of this corpora
ton shall be represented by one hundred
shares of the par value of one hundred
dollars, (S10O.O0J, each. The said capital
stock shall be represented by certificates
and shall be personal property. No trans
fer of said capital stock shall be binding
upon this corporation unless made in ac-
cOrdance with its charter and bylaws a..
recorded on the books thereof.
ARTICLE V-The capital stock Of this
corporation shall be fully paid and non
aSsessable when issued. and shall be Is
sued only for labor done or services rem
derpd or for property actually received,
or for cash to be paid in at such times ana
in such amounts and after such notices
as may be determined by the Board OF
Directors.
ARTICLE VI-The powers of this cor
pOration shall be vested in and exercised
by a Board of Directors of not more than
seven. and not less than three directors
each OF whom shall hold in his own name
at least one share of stock. Said Board
of Directors shall be elected annually on
the first of July of each year; the first
election to be held in 1928. All such elec-
lions shall be by ballot at the office OF the
corporation, under the supervision OF two
commissioners to be appointed by the
Board of Directors, and in the absence OF
any commissioners, the president snail
have the power to fill the place by APP,
as all of the meetings of stockholders,
except for the purpose of liquidation or
dissolution, or otherwise required d!
law. ten days notice shall be given Dy
mailing to each stakeholder who appears
as such on the books of the corporation.
at his last designated address or at the
general delivery of New Orleans, II ne
has not designated an address, an an
nOuncement stating the time and place
of the meeting Each shareholder shall
be entitled TO one vote for each share OF
stock standing in his name on the DOORS
of the corporation, to be cast IN person
or by proxy, and majority of the votes
east shall elect. The Board of Directors
shall have power to fill all vacancies that
may occur in the Board. Failure TO elect
directors on the day above specified shall
not dissolve the corporation, but the dt-
rectors then in office shall remain IN
office until their successors are elected
and qualified. Due notice of another cleo
tion shall forthwith be given as ABOVE
provided. Such notice Of election shall De
continued to be given until an election i
held The Board of Directors at their
first meeting shall elect from their num-
Der president. yice-presldent sec
rotary and treasurer, and such other
officers as the Board of Directors shall
deem necessary. The Board of Directors
shall have power, in its discretion 10
unite two or more offices, and the same
TO confer on one person. ana Shall nave
power to fix the salaries of all officers
and all such other officers and employees
as they deem necessary. The Board OF
Directors shall have power to make ana
establish. as well as alter and amend,
all bylaws, rules and regulations neces-
sary and proper for the support and man
agement of the business and affairs OF the
corporatiOn not inconsistent with ITS
charter Said Board shall also have full
power and authority to borrow money
and through the president or some duiy
authorized agent or agents, 10 execute
mortgages issue notes, bonds. or such
|
on such terms as in their judgment may
| be advantageous; and, generally to DO all
things reasonably necessary for the prop
ct carrying on OF the business Vi IN, .iis
CORPORATION. and also to issue and deliver
| full paid shares of stock and bonds or
| obligations of this corporation, IN pay
| ment of money borrowed or money. laoor
and services, and property or rights ac-
| tually received by this corporation, as
heretofore set forth; and shall have power
| to do and perform all such acts ana
| things that may be necessary TO carry
out the objects and purposes Tor WHICH
this corporation is ORGANIZED.
A majority Of the Board Of Directors
shall constitute a quorum for the trans
action of any business. At any meeting
| OF the Board any director absent from tht
meeting may be represented by any otheI
director who may cast the vote or salu
absent director according to the writer
instructions of said Gbsent director. Inc
Board of Directors shall have the po"ei
by vote of not less than majority there
Of to SELL lease, mortgage, by bond-mort.
gage or otherwise, or to pledge any anC
all the property, movable or immovable
belonging to the corporation, or TO re
ceive in exchange thereof, money OF
stock or bonds, or other obligations o
another corporation without referring u
the stockholders for the power to do so
and they may also purchase the stock o
this corporation. for cash or credit, %
any property Of any kind required 10
any Of the purposes of the corporation
without authority of the stockholders.
Until the next general meeting to b.
held under this charter on the first
July, 1923, or until their duly quLfle'
successors are elected and installed, tn
Board of Directors of this corporation
shall be composed Of:
! James F. Turnbull. whose post offic
address Is $40 Baronne Street New Or
! leans La; Joseph c. Nicely, whose pos
Office address is 101s Leontine Street. New
Office address is $40 Baronne Street, New
Orleans, La, with James f. Turnbull a
! president; Joseph c. Nicely as vice-presl
dent and Beulah NJ. Isom, as secretary
treasurer.
ARTICLE vII-This charter may b
amended, and the capital stock of thi
corporation may be increased and de
creased, or this corporation may be dis
solved in the method and manner pro
: vided by law.
Al Nlll-NO VI I'M
corporation shall ever be held liable o
responsible for the debts, contracts. o
, faults of this corporation in any turtle
!. sum than the unpaid balance on the stoc
. for which he has subscribed, nor sha
! any mere informality in organization hay
the effect of rendering this charter nu
. or of exposing a stakeholder to any liza
: bility than as above prescribed.
I ARTICLE IX-No stakeholder may sci
r assign or transfer his stock in this col
). poration without giving to this corpora
: tion, through its secretary, thirty day
: prior notice in writing of such intention
q and this corporation or the other STOCK
: holders shall have the first privilege
;. purchasing the said stock at book valu
/ plus five per centum.
8 The incorporators have placed oppOsit
5 their respective signatures the number
d shares of the capital stock for which the
:, have respectively, subscribed, which Is
3 be taken and considered as the origins
n | subscription list Of this corporation, an
v which is to be recorded as such.
d Messrs. James +. Turnbull and JOSEF
: c. Nicely. and Miss Beulah NJ. 1som, c
i being duly sworn, depose and say: tina
% as appears from the following, over fit
d per centum of the capital stock OF tn
n corporation have been subscribed.
II Thus done and passed at my office
II the City If New Orleans, the day, mont
> and wear first above written, in the pre-
r ence of George st. Paul and Hilt
II Meunier, competent witnesses who ha
l. signed their names hereuntO, togeth
v with the said Messrs. James +. Turnbu
n Joseph c. Nicely. and Miss Beulah
q Isom, incorporates herein, and me, n
81 tary. after due reading of the whole.
II Original Signed):