The herald., 1922-07-27
CHARTER OF NEW ORLEANS SUGAR
CLEARING ASSOCIATION. INC.

United States OF America, State OF LOUIS
lana Parish of Orleans, City OF New Or-
leans. BE it known, That on this 3Oth day
of the month of June, in the year one
thousand, nine hundred and twenty-five,
before me, Charles Rosen, notary pubic
duly commissioned and qaullned IN anu
for the above parish, therein residing, and
in the presence Of the witnesses herein
after named and undersigned. personally
came and appeared, the several persons
of the full age of majority, whose names
are hereunto subscribed, who declared
that availing themselves of the laws OF
this state in such cases made ana pro
yided they do hereby constitute them
selves, their associates, successors ana as,
signs. a CORPORATION for the objects and
purposes. and under the conditions anu
| stipulations, contained In the following
| articles, which they hereby adopt as thelr
| charter, to-wit:
| ARTICLE Il. The name and title OF
| said corporation shah be New orleans
| Sugar Clearing Association, Inc.
| . Its period of duration shall be nine
| ty-nine years from this date.
z Said corporation shall have for the
| purposes of the business 10 be carried on
by it, all the powers conferred ,s Dy ,TT
| exercise all the powers necessary 10 carr
| on said business. Said corporation shall
have full power to contract, sue, ana os
sued in its corporate naIhs 10 name n
use corporate seal, and the same "
| break or alter at pleasure; to hold, re-
| COVE purchase rent, or otherwise &C
ouire. and to convey, mortgage, hypotne-
cate. lease, sell, pledge, or otnerwiSSe o ond
pose of property, real personal any hl
mixed; to issue bonds, notes, or other on
legations; to name and employ su nd
| managers, directors, officers, agents. anu
| other employees, as the interest anu toIl'
| yenience of the corporation may require
| and To make and establish such Dy-ia"s
: rules and regulations for the mahasehien,
and control of the business ana aHaIrs VI
! sary or proper.
ARTICLE Ill. The domicile OF tins
lcornoration shall be in the City et Ne"
Orleans, State of Louisiana. -, NM
| . All citations and other iegal PIo
cess shall be served on the president AM
in case of his absence or dlsapiii's upO'
the secretary-treasurer.
ARTICLE III-The objects ana pur
noses of this corporation ana the . =
of the business to be carried on py IL, al
hereby declared to be 10 purcaaa tha ocami
sugar for future delivery and the acqu n
sition by purchase or otherwise OF I'm n,
tracts made in accordance Win me ~
laws. rules and regulations OF the Lou ~,
lana Sugar Rice Exchange LOT n, ure p de
chase and sale of sugar for future ue
livery and the assumption OF the oDhg;,
lions arising Hereunder; the setting, au
insting and clearing for compensation
such contracts; the nuyins, daiiSsrin
ceiyipg carrying, storing and deliyeri n
of sugar but only in connection Win III
Z foregoing purposes; the protecting vi n n
; cornoration against loss in its business u
! establishing guaranty Iunu ~ mo
stock holders, as may be prescribed Dy i.
hy-Iaws; and generally 10 90 al IHIH
! Incidental to or in any way apper'ai"iD
= to the above purposes.
. ARTICLE W.. The authorized cap
, .oi stncS Of this corporation Is hereo
, Sxad at eight thousand dollars lSs,VVV.Vo
9 djyided into sixteen 16) shares OF inc me, 20
. ralue Of five hundred dollars lSoV'V'
e per share.
i Fifty per cent $3.50 OF SAID s amout
r sbau he subscribed before me hlins ,.,
5 these articles of Incorporation ana IN
!. nor cent (5Oeo) of said subscribed stVc
: shsu he paid in before the corporatlo
), engages in business, ana tne ieH n.nntI
e shall be paid in within Twelve hoh'i
l. thereafter. an
k rho remainder of said authorized cap
s ,oi STOCK shall be paid for whenever SUI
y scribed at such times and In sucn mani niI'
It as the board Of directors lnay uetesIni ~
n 2 The capital stock may pc lhcFes sSs
e ,uantv-fiye thousand dollars W.
y OOOOo).
y ARTICLE VI The business and a
Z fairs of this corporation shall be manas'
Il by board of seven directors VINO sn 10
y be elected as their terms respectNe.SS .,
% nira for a period Of three years that
The successors of the two directors pr
:, sently named in this charter TO serve \
N one year, shall be elected at the ann ann
d ,ha successors of the two directors pre-
, entity named in this charter to serve I
Is two years shall be elected at the annu
of meeting in 1924 for terms OF three year
l. and the successors of the three directo
IS presently named in this charter to ser
y for three years, shall be elected at the
= nual meeting in 1923 to seve Tor Terms
- three years.
The annual meeting Of this corporati
l shall be held on the first Monday OF APP
of each year. Should the said annu
meeting fall on a holiday, then said met
| ing shall be held on the next succeedil
day. The first annual meeting shall
held on the first Monday OF April, lsZ5
2. The officers Of this corporation sh'
consist of a president. a vice presidei
| and q secretary-treasurer. who need n
be a stakeholder or member or directt
and which Office may be divided into IN
of secretary and treasurer and the stoc
holders or directors may elect such 9th
officers as they deem proper.