The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-01
CHARTER

shipping business, including the recriv-
ing, handling, shipping and transporting
of goods wares, merchandise ana all
classes of freight, by water.
ARTICLE ". The capital stock OF
this corporation is hereby liked at the
sum OF Twenty five Thousand Dollars
ISIS 600 OO), to be divided into and rep
resented 10y Two Hundred and Fifty
t2jO) Shares in the sum Of one Hun
dred Dollars (SlUOO) each; said stock
shall only Toe issued for cash or IN pay
ment of property actually received or
purchased by said corporation. The cap
itaI stock of this corporation may be
increased to the sum of one Million Dol
lars tsLUOOOoOUOJ
ARTICLE V. All the corporate powers
of this corporation shall be exercised
10y Board OF Directors. consisting OF
three stockholders, majority OF whom
shall constitute quorum for the trans
action of business. The directors may
vote in person or by written proxy IN
favor Of another director. The Board
Of Directors shall elect annually from
among their number President aud
Treasurer. and Vice President and
Secretary Treasurer. Any two Offices
may be held 10y the same party.
The first Board of Directors shall con
SiSt of three stockholders and shall h"
composed of W. G.. Smith, +. Z. Michel
and +. W Salmen. with the said W G.
Smith as President and Treasurer. and
+. L. Michel Vice President and Sec
Rotary.
The postofhce addresses OF said direc-
tors are as follows: ". q. Smith, f. L.
Michel. +. W. Salmcn. al. of New Or
leans. La.
These directors snail serve until the
third Tuesday in April. 1923. or until
their successors have been duly elected
and qualified. The annual meeting Of
| stockholders for the election of direc-
/ tors shall he held on the third Tuesday
/ in April of each year, unless said day
/ be legal holiday, and then ON the next
/ bank day thereafter. Any vacancy oc-
/ curing among the directors by death,
. resignation or otherwise shall be- filled yb
election fu rthc uneNpired term by the re-
naming directors. Each subscriber hereto
sets after his nam" his poStofhce ad-
dress and a statement of the number of
| shares of stock which ne agrees to take
in the corporation. At all elections every
stakeholder shall be entitled 10 one vote
for each share uf stock standing in his
, name on the books Of the cOrpOratin.
to he cast in person or by his written
proxy. \ majority of the votes cast shall
/ elect.
ARTICLE VI In the event Of the
| liquidation or dissolution Of this corpor-
/ alton. the stockholders shall elect three
| liquidators from among their number at
| "A meeting convened for that purpose.
after fifteen 10 days written notice
sent to each stakeholder by mail to his
last known address, said liquidatOrs
business and affairs of this corporation.
In case OF the death of liquidatOr, the
survivors shall appoint stakeholder as
successor to him.
ARTICLE VII. This charter may he
modified. changed or altered, or said
corporation may be dissolved. with the
assent of stockholders owning twO-thirds
of the entire capital stock at general
meeting Of the stockholders convened for
that purpose, after fifteen l5) days
| NHrif han bay bppD ViVan
each stakeholder, mailed 10 him at his
last known address
ARTICLE VIII. No subscriber for
stock shall ever be held liable for the
contracts faults debts of said cor
poration in any further sum than he
unpaid balance, II any, due the cOrpor-
alton on the stock for which he has
subscribed; nor shall any STOCKHOLDERS
ever be held liable for such contracts,
] faults or debts in any further sum than
the unpaid balance. IL any, on the stock
owned by him: nor shall any mere in
' formality in organization have the effect
Of rendering this charter null or rem
derirg any subscriber or stockhOlder
: liable beyond the unpaid amount, II any
= remaining due on his stock.
No stakeholder in this corporation
/ can ever seel the stock owned by him
= in this corporation, or any part thereof
. without first offering the same in writ
. ing to the other stockholders. through
o the Board of Directors. at its then bool
O value, who will have the first option 4
d purchase the same; and In the event o
~ the death Of a stakeholder. the right !
l. hereby reserved to the remaining stock
= holders to purchase said stock at Its thel
book value.
L ARTICLE IX. This corporation !
d organized under the laws of the Stat
q OF Louisiana, and especially Act No. 20
l. Of 1914 and the subscribers hereto, 70
= themselves and said corporation. an
: for its officers, directors and stockhold
: ers. hereby accept. as part of this charte
and as conditions OF this corporation
-. all the rights, powers, privileges an
n ipmunties granted to corporations an
= granted to and conferred upon officers
l., directors and stockholders Of corpora
tions by said laws and said act: sue
acceptance being as full. complete an
binding as II said rights. powers. priv
/ ileges and immunities were set forth n
8 length in this instrument.
II Thus done and passed In my notaria
= office in the City Of New Orleans. afore
=. said in the presence Of George II. Ter
y riberry and Holger G. Kohnke. competen
witnesses Of lawful age and residing v
this city. who herennto subscribe thei
names together with said parties an
me- Notary. on the day and date Sc
forth in the caption thereof.
Names OF subscribers omitted)
Witnesses:
GEO. II. TERRIBERRY,
HOLGER G. KOHNKE.
X0ENG