The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-29
CHARTER.

Nenlence may require, and to make and
! ESTABLISH as well as alter and amend
! from time TO time, such bylaws. rules
ana regulations as may be necessary
ana eApedlent for the PROPER manage
| ment and government OF the affairs Of
! said corporation.
| ARTICLE III. The domicile Of This
! corporation is hereby fixed in the CITY
/ of New Orleans, State of Louisiana. and
all citations or other legal process shall
! be served upon the President Of this
corporation; or, I'm his absence, upon its
Secretary Treasurer.
ARTICLE III. The objects and pur-
poses for which this corporation is es-
| tablished and the nature OF the business
| TO be carried on by II are hereby de-
clared to be: To carry on general
shipping business, including the receiv-
ing handling, shipping and transporting
or goods. wares. merchandise and all
classes of freight, by water
ARTICLE ~. The capital stock OF
this corporation Is hereby fixed at the
sum Of Twenty five Thousand Dollars
(S25,OOO.O0), to be divided into and rem
resented by Two Hundred and Fifty
(25Ol Shares in the sum Of One Hun
dred Dollars (SlOOOO) each; said stock
shall only be issued for cash or in pay
ment OF property actually received or
purchased by said corporation. The cap
ital stock Of this corporation NAV he
increased To the sum OF One Million Dol
lars SLOOO.O 100000
ARTICLE V. All the corporate powers
OF this corporation shall be exercised
by Board of Directors. consisting OF
three stockholders, a 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 a President and
Treasurer, and Vice. President and
Secretary Treasurer. ANY two Offices
may be held by the same party.
The first Board OF Directors shall con-
sist of three stockholders. and shall be
composed of W. G.. Smith, +. i. Michel
and +. W. Salmen, with the said W. G..
Smith as President and Treasurer and
+. l.. Michel as Nice-President and Sec
rotary.
The pOstOfnce addresses OF said direc-
tors are as follows: w. G. Smith, +. p
Michel, +. W. Salmen, all 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 be held on the third Tuesday
in April of each year, unless said day
be a 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 70 rthe uneNpired term by the re-
naming directors. Each subscriber hereto
sets after his name his postoffce adj
dress and a statement of the number of
shares of stock which he agrees to take
in the corporation. At all elections every
stakeholder shall be entitled to one vote
for each share Of stock standing in his
name on the books OF the corporatin,
to be 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 |
n meeting convened for that purpose, |
after fifteen G5) days written notice |
sent to each stakeholder by mali TO his |
last known address; said liquidators
snail have the authority to wind up the
business and affairs of this corporation. |
In case Of the death of a liquidator, The
shall appoint a stakeholder as
to him.
ARTICLE VII. This charter may be
modified changed or altered. or said |
assent Of stockholders owning two-thirds
Of the entire capital stock at a general |
meeting Of the stockholders convened for |
that purpose, after fifteen Q5) days
written notice shall have been given to
each stakeholder, mailed to him at his
ARTICLE VIII. No subscriber for
stock shall ever be held liable for the |
faults or debts of said cor
poration in any further sum than he |
unpaid balance, IL any, due the corpor-
alton on the stock for which he has
subscribed: nor shall any stakeholder
ever be held liable for such contracts,
'aults or debts in any further sum than
he unpaid balance, IL any, on the stock
owned by him; nor shall any mere in
ormality in organization have the effect
II rendering this charter null. or rem
lerirg any subscriber or stakeholder
liable beyond the unpaid amount, IL any
due on his stock.
No stakeholder in this corporation
an ever seel the stock owned by him
n this corporation. or any part thereof.
without first offering the same in writ
ng TO the other stockholders. through
he Board of Directors at it's then book
alue, who will have the first option to
purchase the same: and In the event OF
he death Of a stakeholder. the right Is
ereby reserved to the remaining stock
olders to purchase said stock at its then
ook value.
ARTICLE TX. This corporation is
rganized under the laws Of the State
Z Louisiana, and especially Act No. 2G7
{ 1914. and the subscribers hereto for
themselves and said corporation. and
Or its officers, directors and stockhOld-