The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-27
CHARTER OF STEWART BROS. COT
TON co. INC.

PARISH OF oTledHS, La
July 13-Aug. Il.
CHARTER OF STEWART BROS. COT
TON CO. INC.
United States of America. State of Louis
lana Parish of Orleans. BE il known, that
on this 23rd day of the month Of June. in
the year of our Lord one thousand, nine
hundred and twenty-five, 1922D and of
the Independence of the United States of
America. the one hundred and forty sixth
before me. Watts h. Leverich. notary
public duly commissioned and qualified,
in and for the Parish of Orleans. State of
Louisiana, 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, who de-
clared that. availing themselves OF the
laws of this State relative to the organi-
zatiOn 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-
ed with them into a corporation or body
polite in law. for the objects and pur-
poses and under the agreements and stip-
ulations following, to-wlt:
ARTICLE 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 ana
| after the date hereof. and shall nave power
|
| sued; to accept and receive mortgages,
pledges or other hypOthecations; to make
and use a corporate seal ana the same TO
break and alter at pleasure; TO purchase
| receive. lease, hold or otherwise acquire
and convey. as well as mortgage and by
! pothecate under its corporate name pro-
| perty both real personal and mixed; 10
/ borrow money and make and issue ponds
| and other evidences Of debt and to secure
| the same by mortgage and otherwise; to
| subscribe to and hold stock in other cor
pOrations; to acquire, hold and Reissue
| shares of its capital stock; to carry out
all of the objects and purposes hereinafter
| set out: to name and appoint such man
ayers and directors, officers and agents.
| as the interest and convenience OF said
| corporation may require; and to make and
| establish. as well as alter and amend at
pleasure such bylaws, rules and regula-
tons for the management and regulation
of the affairs of the corporation as may
be necessary, proper or convenient; ana
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
ried on by it are hereby declared to be
To purchase or otherwise acquire, ana 10
sell or otherwise ALLEVIATE or dispose OF
and to mortgage, pledge, hypothecate, ex
port and deal in cotton and other agrl'
cultural products, spot and future; to dc
a general cotton merchandising and eN-
port business; to do a general commission
factorage, mercantile, warehouse and
manufacturing business in connection with
|, cotton or any other staple product; &c
purchase. sell and deal in stocks, bonds
-N.I. Inn and r.
ties of other individuals, firms or cor
porations; to carry on a general invest
ment and underwriting business; to pur
chase. USE cultivate, hold, improve, sell
mortgage, pledge, or otherwise deal IL
and dispose of real/Or personal property
plantations and /or city and Tor towr
property: to exchange its entire capita
stock. or any part thereof, for property
which il is authorized to acquire; to eX
chnage its entire assets and business, Of
any part thereof. for property, stocks
: bonds. or other obligations of other com
r 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.
I ARTICLE Iv-The presently authorized
capital stock of this corporation is hereb,
fixed at the sum of one million (sl.OOo.
, 600 OOl dollars dirided into and represent
: ed by ten thousand 100000 shares OF tn
= par value of one hundred (S1OOOO) dollar
I
S be increased to five million (S5OOOOOOOO
b dollars.
r ARTICLE v-No transfer Of stock shal
u be binding upon the corporation unles
6 and until made snd recorded upon II
u books. No stakeholder shall have a rlgn
: to transfer or convey any of his or he
T stock in the corporation unless and unit
he or she shall have first made write
: offer to the other then stockholders Oh IN
= | corporation and to the corporation itsel
u to sell his or her stock to them at Tn
= book value thereof. Book Value as use
e herein is hereby defined to mean the vain
, | Mt which the assets and nabifltles OF IN
. corporation have been in good faith er
- | tered upon its books. Such written one
!, shall be addressed to the other the
- stockholders, and to the corporate
- itself, collectively, and shall be delivere
e to the office of the corporation not le;
!, than ten days prior to the application Il
n transfer of the stock. The corporauo
a shall transmit this offer to the respectL,
% then stockholders and the stock OF q
=, stockholders desiring to sell shall be dl
n tributed pro rata among such OF Il
10 other stockholders as desire TO purchas
n i'm the proportion in which the holdings
|, | the stockholders DESTROYS of purchaslr
rs bear to each other: and II the total whl'
10 such other stockholders desire TO purcha
N is less than the total offered for SALE tht
IS after each of the other stockholders sha
A. have taken and paid for the amount
stock which he or she desires to buy al
n TO which he or she is entitled, then the I
= mainder untaken shall be open Tor pu
~ chase by the corporation itself; and u
a less prohibited by law, the corporate
40 may itself use and apply its surplus ear
M ings or accumulated profits to the pu
r. chase from any stakeholder desiring
in sell of any portion of that stakeholder
s. stock which none Of the. other stoc
n holders may desire to acquire, at the boz
IN value thereof; provided that the corp0r
pr ton shall not apply any OF its capltai
m the purchase of such stock but shall