The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-14


proper and convenient. and generally "a
do all such acts and things as trading
corporations are authorized to do under
the laws of the State of Louisiana.
ARTICLE 1.-THE dOmicile of this cor
poration shall be in the City OF New Or
leans Parish Of Orleans, state OF Louis
lana and all citations or other legal pro-
cess shall be served upon the president Of
the company, or, in his absence, upon the
secretary of the company.
ARTICLE III-The objects and pur-
poses for which this corporation j. or.
ganized and the nature of the business
to be carried on by it are hereby de
clared TO be: To purchase or otherwise
acquire. and to sell or otherwise ALLEVIATE
or dispose of, and to mortgage, pledge
hypOthecate, export and deal in cotton
, and other agricultural products. spot
and future; to do Il general cotton mpr-
Chandising and export business; to DO
camille. warehouse and manufacturing
business in connection with cotton or
any other staple product; TO purchase
sell and deal in stock, bonds commercial
paper, obligations and securities Of other
individuals firms, or corporations: to
carry on general investment and under
writing business; to purchase, use, CuI-
tivate. hold, improve, sell, mortgage
pledge or otherwise deal in and dispoSe
of real or personal property; 10 own.
lease or rent warehouse or warehouses.
and to do Il general warehouse, export
ing importing business; TO exchange its
entire assets and business, or any part
thereof. for property, stocks, bonds or
other obligations of other companies
firms or individuals; and generally 10
do all acts and things necessary, con
yenicnt or appropriate to the accomplish
ment of any of said purposes or germane
thereto. and generally To do any and
everything not prohibited by law.
ARTICLE Iv-The presently author
lied capital stock of this corporation is
hereby fixed at the sum Of one Hundred
and Fifty Thousand ($lJOO0OOOD Dollars.
divided into and represented by Fifteen
of One Hundred 100000 Dollars per
share. The amount of said stock NAV b,.
increased TO one million $1,000, OOOOO) dol
lars.
ARTICLE v-No transfer Of stock
shall be binding upon the corporation
unless and until made and recorded upon
its books. No stakeholder shall have a
right TO transfer or convey any of their
stock in the corporation unless and until
they shall have first made a written Of
fer to the other then stockholders of the
corporation, to sell such stock to them
at the book value thereof. Book Value"
as used herein Is hereby defined TO mean
the value at which the assets and HabiI-
tiles of the corporation have been in good
faith entered upon its book. Such writ
ten OIleT sndll De addressed To the other
then stockholders and TO the corpora
ton itself, collectively, and shall be do
livered TO the office of the corporation
not less than ten tl0) days prior to the
application for transfer of the stock.
The corporation shall transmit this offer
to the respective then stockholders and
the stock of the stockholders desiring
to sell shall be distributed pro rata
among such of the other stockholders as
desire to purchase, in the proportion
in which holdings of the stockholders
DESTROYS of purchasing bear TO each
other The corporation, shall have the
right TO refuse to transfer any stock so
long as the shareholder demanding the
transfer is in any way indebted TO the
corporation, and the corporation shall
have lien, pledge and privilege on each
share OF stock to secure any indebtedness
due by the shareholder to the corpora
ton. should any of the stock offered for
sale be not desired by the other stock
holders within ten days from the recent
at the corporations Office of the written
oHer 10 sell, then, and then only, shall the
stOckholder desiring to sell be entitled to
transfer such undesired portion of the
such price as such holder may see fit. No
STOCK TO such person or persons, and at
ice OF the provisions of this article shall
appear upon each certificate of stock is
Sueu Dy the corporation and shall be bind
ing upon every person now, or hereafter
becoming stakeholder I'm this corpora
uon, all of whom agree to the provisions
hereOf and take such stock subject there
10; and all pledges, hypOtheCatiOns or
other encumbrances of said stock. or deal
lhSs with regard thereto, shall be subject
10 the provisions hereof.
ARTICLE VI-Au the powers of this cor
poration shall be vested in and exercised
Dy a board composed of three directors
Il Majority of the board of directors shall
constitute a quorum. The board of di-
rect0rs shall be elected annually at the
SfNGknOlGprS' m ho h,Il H..
at the office of the corporation on the
hrst Tuesday in November of each year
COR on the next legal day, if that be a
holdaS after notice given to each stock
noIuer Dy mail at least fifteen l5) DAYS
before the date of the meeting addressed
10 the last known address of the stock
holder. Special meetings of the stock
holders may be called by the board at
any tlme and notice thereof shall be given
IN the manner provided for annual meet
ineS' provided that in all cases all no
uces may be waived by unanimous con
sent. leach stakeholder shall be entitled
10 one vote for each share of stock stand
ing in the holders name on the books of
the corporation, said vote to be east in
person or by proxy, and a majority of the
votes cast shall elect. Failure to elect
directors on the day above specified shall
not dissolve the corporation but the direc-
tors then in office shall remain in office
until their successors are elected and in
stalled. The board of directors shall have
power 10 MI all vacancies which may oc-
cur or IN any manner arise or be created
on the board, even though no quorum re-
milan at the time such vacancies are TO be
hlled. The board shall elect from their
number president. The board shall also
eject secretary and treasurer. and either
OF sald officers may occupy one or more
OF the Offices herein provided and said Of
hcers or any of them need not be mem
Ders or the board, and the board is ex-
P i,iy authorized from time to time to
dispense with any of said officers and,
or combine and or separate any of them,
anu OF elect any other such officers as the
hoard may think proper or convenient TO
the carrying on of the cOmpany's business
ana the president shall fix the salaries of
the Officers, agents and employees. At
any meeting of the board of directors
any director absent from the meeting may
be represented by any other director who
may cast the vote of the absent director
according to written instructions, either
general or special, of said absent direc-
Tor; The board of directors shall have
authority TO make and establish, as well
as alter and amend. all bylaws, rules
and regulations necessary and proper for
the support and management of the bust
ness and affairs of this corporation and
not inconsistent with this charter; and
.hey snail have power to authorize the
borrowing of money and the issuance of
notes and the execution of pledges and
mortgages, and generally to do all things
necessary or convenient for the proper
carrying on of the business of the corpOa-