The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-20
CHARTER OF STEWART BROS. COT
TON co. INC

July AUG IL.
CHARTER OF STEWART BROS. COT
TON CO. INC.
United States of America State of Louis
iana Parish of Orleans. BE it known. that
on this Ord day of the month of June. in
the year of our Lord one thousand. nine
hundred and twenty-five. O922D and Of
the Independence of the United States of
America the one hundred and forty sixth.
before me. Watts n. Leverich. notary
public duly commissioned and qualified.
i'm 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-
cIared that availing themselves of the
laws of this State relative To the organi-
zatiOn of corporations. they have cove
uantrd and agreed, and do by these pres
entS covenant. agree. bind, form ana con
>titute themselves as well as such persons
rs may hereafter join or become associat-
ed with them. into corporation or DodN
polite in law. for the objects and pur-
poses and under the agreements ana Sup
ulations following, to-w1t:
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 tulI term
and period of ninety-nine years from anu
after the date hereof. and shall have power
and authority to contract. sue and be
sued; to accept and receive mortgages
pledges or other hypothecationS; 10 make
and use corporate seaI ana the same L"
break and alter at pleasure; to purchase,
receive lease. hold or otherwise acquire
and convey, as well as mortgage and ny
| pOthecate under its corporate name pro-
perty both real. personal and mixed; TO
borrow money and make and issue bonds
| and other evidences of debt and to secure
| the same by mortgage and otherwise; TO
| subscribe to and hold stock in other cor
! 70 nfra N
| 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 ana agents
as the interest and convenience of said
| corporation may require; and to make ana
| establish. as well as alter and amend AT
| pleasure such bylaws, rules and regula-
! tiOns for the management and regulation
| of the affairs of the corporation as may
/ he necessary. proper or convenient; and
| 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 oil
other legal process shall be served upon
the president Of the company, or, in his
| absence, upon the vice president.
ARTICLE IH-The objects and purposes
for which this corporation is organized
and the nature of the business to be car
ried on by ii are hereby declared to De
To purchase or otherwise acquire. and &c
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; 10 dt
a general cotton merchandising and eN
port business: to do a general commission
factOrage, mercantile. warehouse anC
manufacturing business in connection witt
cotton or any other staple product; u
purchase. sell and deal in stocks ponds
| - nj
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 II
and dispose of real Tor personal property
plantations and Ior city and Tor tow
property; to exchange its entire capita
stock. or any part thereon. Tor propert!
which il is authorized to acquire; to eX
chnage its entire assets and business, o.
any part thereof. for property, stocks
bonds or other obligations of other com
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.
ARTICLE Iy-The presently authorized
capital stock of this corporation is hereb.
fixed at the sum Of one million (Sl.OOO,
OOO.OO) dollars. divided into and represent
ed by ten thousand 100000 shares OF tn
: par value of one hundred (S1OOOO) dollar
per share. The amount of said stock ma
be increased to five million (S5,OOOOOOOO
dollars.
ARTICLE V-No transfer of stock shall
be binding upon the corporation unles
and until made and recorded upon II
books. No stakeholder shall have righ
to transfer or convey any of his or ne
| stock in the corporation unless and unit
he or she shall have first made a write
. offer to the other then stockholders OF IN
corporation and to the corporation itsen
l.. n l.; har N fhnm
, book value thereof. Book Value as use
herein is hereby defined to mean the yalu
mt which the assets and liabilities of tn
+ corporation have been in good talth en-
shall be addressed to the other the
> stockholders. and to the corporate
. itself. collectively, and shall be delivere
; to the office of the corporation not les
than ten days prior to the application 10
, transfer of the stock. The corporato
! shall transmit this offer to the respectiv
o then stockholders and the stock or IN
stockholders desiring to sell shall be di'
4 tributed pro rata among such or IN
. other stockholders as desire to purchas
I in the proportion in which the holdings
. the stockholders DESTROYS Of purchasin
$ bear to each other; and II the total WHO
. such other stockholders desire to purchas
/ is less than the total offered for sale. the
5 after each of the other stockholders sha
: have taken and paid for the amount
stock which he or she desires TO Duy an
10 which he or she is entitled, then the r.
: mainder untaken shall be open for pui
= chase by the corporation itself; and III
less prohibited by law, the corporate
o may itself use and apply its surplus carr
+ ings or accumulated profits to the pu
. chase from any stakeholder desiring
n sell Of any portion of that stocholder
: | stock which none of the other stocl
h holders may desire to acquire, at the DOC
\ value thereof; provided, that the corpor;
r ton shall not apply any of its capital
n the purchase of such stock but shall a