The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-09
ACT OF INCORPORATION OF
MARINE LUMBER CO, LTD.

civ of New Orleans. he it known that
on this the 18th day of the month Oh
l January. in the year OF our LOru, one
/ thousand nine hundred and twent! TWO;
and of the Independence of the hlted
States of America the one hundred ana
forty sixth, before me- WALTER >.
/ SUTTON, JR., a Notary Public dull
| commissions and quallned III ana lOr
( the city parish and state aforesaid.
/ therein residing. and in the presence OF
the witnesses hereinafter named ana
undersigned, personally came ana APP
peared the several persons whose names
I are hereunto subscribed, who declared
, that. availng themselves of the proNl-
1 sions of the laws of this state relative
to the formation and organization OF cor,
/ pOratiOns, they have covenanted ana
. agreed and do by these presents cove.
nant, agree and bind themselves, as Wen
. as those who may hereafter become asSo-
/ ciated with them, to form themselves into
a corporation for the objects and pur-
| poses with names and under the Stlpu-
/ lations following, tO-wit:
ARTICLE l. The name and style of
/ this corporation shall be MARINE LUM-
Der co, LTD. and by said corporate
name il shall have and enjoy succession
| and existence for period OF ninety nine
/ years, unless sooner dissolved, and shalt
have all the fights, privileges and I'M
munities which are now or may here
after be granted by law to corporations
of the same kind and character, and
under said corporate name II shall have
the power anu dulnOIllN " NOhhiH't SUI
and be sued; to make and use cor
/ porate seal. the same to break or alter
at pleasure, and to make all necessary
rules and regulations for its corporate
| management and control.
ARTICLE IL The dOmicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans, State OF
Louisiana. and citation and other legal
process shall be served upon the Secre-
tary; or, in case of his absence or in
ability to act. upon any other ofhcer OF
the corporation.
ARTICLE III. The objects and pur-
poses for which this corporation is or
ganized and the nature of the business
to be carried on by il are hereby declared
to be: To buy, hold. own, sell, and
generally to deal in any and all kinds
of lumber. and any and all kinds of
|, building material, and TO handle same
on a commission basis; to buy, hold.
own, sell and generally to deal in TIM
Der and timber leases; to cut, prepare
and manufacture any and all kinds of
lumber; to import and export timber,
lumber and building material; to buy,
hold, own and sell real estate necessary
for the business of the corporation; to
! purchase and acquire the assets and
goodwill of other businesses whose
; objects and purposes are incidental or
similar to those of this corporation; to
! buy and own stock in other corpora
tons and generally to do any and all
: things incidental or germane to any of
the objects and purposes above set forth
| 81
this corporation is hereby fixed at the
sum of Six Thousand Dollars $4,000 00).
divided into one hundred and twenty
! shares of the par value of One Hundred
Dollars each, all of which shall be COM
mon stock; and the amount to which
the capital stock may be increased is
! hereby fixed at the sum of Fifty Thou
sand Dollars ($50,OO0.OO); said stock
shall be issued only for cash or in pay
ment of property actually received by
this corporation, or services actually
rendered to it: said stock shall be fully
paid at the time of its issuance and there
ton shall commence business and become
. going concern as soon as fifty per cent
of its capital stock shall have been sub
? scribed and fifty per cent of the sub
. scription paid for.
: The parties to this act hereby declare
l that they have subscribed for the num-
Der of shares of the capital stock of said
corporation set opposite their respective
! signatures hereto, that this act of in
corporation shall serve as the original
] subscription.
a No present or future stakeholder of
! this corporation shall ever sell, assign
7 or transfer other than by inheritance any
! of the capital stock of this corporation
Q until the same shall have been first Of
! fered to the remaining stockholders for
! the benefit of those stockholders who
u may desire TO purchase the same, through
the Board Of Directors, for a period of
: ten days. at the book value of such stock
: ton on the Both day Of November, pre-
0 ceding the date of such offer. 1t shall
!, be the duty of the Board Of Directors,
II upon receiving an offer of sale of any
q of the capital stock of this corporation
' promptly to communicate the same to
e the stockholders, in writing, through the
u Secretary of the corporation, and each
, of the said stockholders shall be entitled
II to purchase such proportion Of the stock
= so offered for sale as the number OF
e shares owned by him bears to the num-
r. Der Of shares owned by all other stock
I, holders desiring to participate in the
u u purchase. No sale under foreclosure
"a pledge or hypothecation shall be validity
. made until the foregoing requirement,
+ have been complied with by the person
= or persons, firm or corporation provok
- ing such foreclosure sale. And NJ
~ stock shall be transferred on the book,
% OF this company to anyone other thar
!, ten consent Of two-thirds of the stock
=, holders in number and amount.
:, ~ ARTICLE V. All the powers Of THU
> corporation shall be vested in and b,
q; exercised by a board of not less thai
II three nor more than seven directors, al
~ determined in advance each year by tn,
~ stockholders at the annual meeting. L
~ the number of directors is more thar
:; constitute quorum. Every directo
~ shall be a bona fde stakeholder and shall
al Mt all times own one full-paid. unpledgeC
IN share of stock. The first Board of Direc
A.
- - Canal Commercial Building. New Orleans
"a La; o. ID. Jackson, $40 Godchaux Build
+ ing, New Orleans. La; NJ. w. Grundy
- COL Canal Commercial Building. New Or
= leans. La; M. NJ Baker, 55l5 Magazin
a. street, New Orleans, La; August Krae
~ mer. SIG n. Rocheblave avenue, New
a. Orleans, La.
- The officers of the corporation shall
=, consist of President. one or more Vice
M, m Presidents. a Secretary and Treasurer
q The first officers Of the corporation ar
or as follows: w. V. EastoD, who shall b
o. President: o. ID. Jackson, who shall b
" Vice President; NJ. W. Grundy. who shat
be Secretary; NJ. NJ. Baker, who shall b
- Treasurer.
Al The above Board Of Directors shaI
"a hold office until the first annual meet
Oh ing In December, 1922 or until their sue
~ cessors are electd and qualified. Fac
al succeeding board shall continue to hol
GO office for one year. or until their sue
ve cessors are elected and qualified TIL
~ persons to be hereafter elected director
for subsequent years shall select fror
nm their own number the officers of tn
oy corporation. The Board of Directors ma
he from time to time, and as the bushes
be OF the corporation may dictate, combin
nj any two Of the above officers in one an
or the same person, giving to the combine
X office style or title indicating the CON
ha bination.
an In the second week of December Z
ev each year the stockholders shall elect
- BOARD NJ for