The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-12
CHARTER.

,r Of personal property: and make and .
Use Il corporate seal. the same To- alter
IT break at pleasure: but tn" fhilur" to
nave a seal shall not iuValidate any 81 f.
he acts or proceedings Of this corpora .
ion: name and appoint such managers. ,
directors. Officers, clerks and employees 4
md agents a. the interest aud convenience /
Il said corporation may require. and I
through it, Board Of Directors make and /
establish such bylaws. rules and reEu- Z
ationS for the proper management ana /
regulation Of the affairs of said corpora .
tiun rs may b., necessary. and the Sama
to alter and change at pleasure, aud
shall possess all the rights. powers and !
privileges To which corporations are or
may be by any general law or laws of
this state authorized and entitled I"
possess. Said corporation may exercise
It's corporate powers within any other
state or territory in the United States or
foreign couatry that shall permit the
same.
ARTICLE v.-Thr capital stock Of this
corporation i hereby fixed at the sum of
Four Hundred Thousand and 90 100
$1,000 00.00) Dollars, represented by four
thousand (4OOOI shares Of one Hundred
and 90 100 (slO0.O0l Dollars, each.
All stock subscribed for shall be pay
able ut such times and on such terms and
conditions a. the Board of Directors may
from time To time fix and determine In
each particular cas-" or by general resOlu-
ton. or the Board of Directors may issue
certificates Of paid up stock in payment
of property or goods actually delivered to
this corporation or for services actually
rendered to it. or for rights. privileges or
franchises transferred to II. the valua-
ton i'm each instance To be agreed TO by
the Board of Directors, which shall have
full aud final power TO do 50.
Said capital stock may be increased TO
the sum of one Million Dollars SLOW
100000 in the manner provided for by tbs
laws uf this State. Whenever an increas-
of said capital stock shall have been
authorized or unSold stock issued fifteen
days written or printed notice shall he
given to each stakeholder within which
time persons holding stock in this cor
poration shall have the right to subscribe
for said increased stock or additional
issue of stock in proportion to the number
/ of shares of stock then held by them, and
which additional shares shall be paid for
as the Board of Directors may direct
I After the expiration of said time thu
| Board of Directors may dispose OF tht
! shares not taken. for the benefit or the
! Company in such manner and on such
terms and conditions as they may think
/ proper.
Dividends shall be declared on the
/ amount actually credited on the capital
stock without regard to the amount sub
/ scribed for.
Dividends ACQUIRING to stockholders who
| owe any portion of any stock subscribed
| for by them shall he credited to such un'
paid subscription until the full amount
I of all stock subscribed for by such stock
| holders shall be paid in full. Such credit
| of dividends shall not in any manner
relieve such stockholders from the pay
ment of calls on such subscription. bu,
| the credit of such dividends shall be II
! excess of the calls on such subscription
/ to stock. Interest at the rate OF eigh
Der centum per annum shall be charged
! on the unpaid portion of calls on stocf
subscribed for from the maturity of eacl
| call.
stock subscribed for should not be pal,
| within thirty days after the same shall
become due. such stock and the suOscrlp
ton thereto. together with all installment
paid thereon may be forfeited to the Com
| pany by resolution of the Board of Direc
tors without further notice or proceed
ings; or the Board of Directors may hOl
the subscriber to said stock PERSONAL
responsible therefor and take legal pro
ceedings to collect the installment or III
stallments due thereon.
The Company shall begin operation q
soon as two thousand t2oool shares {
the capital stock are subscribed for Q
disposed of.
At all elections by or meetings of Oh
stockholders, each share of stock wheths
! maid for in full or not shall he entitle
: to one vote to be cast either by u
: person in whose name the stock 'appeal
! on the books of this corporation at II
. proxy. duly authorized in writing TO I'M
effect.
All transfers of stock shall be mad
= on the books of the corporation and sha
! he signed by the stakeholder or by
attorney.
. ARTICLE VI.-The business and affai
I. and corporate powers of this corporau'
= | shall be transacted by Board OF Dlre
4 tors composed of not less than three Q
!, | rectors nor more than seven director
!, 10 be composed OF stockholders
u this corporation owning at least ten q
g shares of the capital stock. The stoc
. holders may at any annual meeting eie
/, less than seven directors and the dire
= tors thus elected may prior to the ne
g annual meeting elect one or more a
a ditional members of the board OF directo
4 so as to make the board OF directo
a not more than seven. the directo
whether elected by the stockholders
= nv the board of directors. shall be elect
!. by a majority of the votes at me-
ing of the stockholders or Of the dire
o tors as the case may be.
\ A majority of the members OF sa
q Board of Directors shall constitute
~ quorum for the transaction and manal
> ment of all business of said corporate
= Lester F. Alexander OF New Orleans, IL
10 isiana. as President, John l.. Dickey
= New Orleans, Louisiana, as Nlce-ffe
:, dent and Secretary, and Robert X. Nj
n. nix of New Orleans. Louisiana, snail &C
: stitute the first Board of Directors
O. they shall hold office until the seco
.. Tuesday in January 1923 or until tn
,r successors are elected and qualified; ga
ny subsequent Board shall take their SCI
e Immediately following their election,
al as soon thereafter as practicabie,
" shall hold their office until their 81
Nv cessors shall have been elected and qua
or fed. - =,
IN ON the second Tuesday In January i
10 and annually thereafter an election
SO directors by the stockholders shall
re held at the office of the Company ar
no fifteen DAYS printed or written not
in shall have been mailed to each stockhol'
or or subscriber to stock at their respect
o. addresses appearing on the books OF
of Company Every Board OF D1rect
or shall at its first meeting after IT'S 81
or zion. or as soon thereafter as practical
q elect a President, a Vice President; an'
ds Secretary who may or may not De ms
he her of the Board. as the Board may
Dr. termine. Or the Board may elect
all other officer to the position OF Secreta
The Board may also select one or III
ry Assistant Secretaries who may or n
he nor he members Of the Board and or
them such authority as the Board
ay deem wise. - :
10. failure TO elect Directors on the q
FL above specified shall not dissolve the /.
nd noration but the then existing Board
nd Directors shall continue to hold their