The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-15
CHARTER.

! venience may require, and to make and
establish rs well as alter and amend.
/ from time TO time, such bylaws rules
and regulations as may be necessary
ana eXpedient for the PROPER manage
| meut and government of the affairs Of
/ said corporation.
ARTICLE ii. 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, in his absence, upon its
Secretary
ARTICLE III. The objects and pur-
poses for which this corporation is eS-
tahlished and the nature of the business
to be carried by il are hereby de
clarcd to be: To carry on a general
shipping business. including the rec"iy-
! ing, handling. shipping and transporting
of 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
ISL. 100000, to bc divided into and rep
Resented by Two Hundred aud Fifty
t2JO) shares in the sum Of one Hun
drcd Dollars (SlOO OOD each: said stock
shall only be issued for cash or in pay
ment Of property actually received OF
purchased by said corporation. The cap
ital stock of this corporation may be
increased To the sum OF one Million Dol
]
ARTICLE V All the corporate powers
of this corporation shall be exercised
by a Board of Directors. consisting of
/ three stockholders. a majority of whom
| shall constitute quorum for the trans
action Of business. The directors NAV
vote in person or by written proxy ia
| favor of another director. The Board
of Directors shall elect annually from
| among their number a President and
| Treasurer, and a Nice-Prcsident and
! Secretary Treasurer Any two Offices
may be held by the same party.
The first Board Of Directors shall CON
| sist of three stockholders. aud shall be-
! composed of W. g. Smith +. L. Michel
! and +. W. Salmen. with the said W. G..
/ Smith as President and Treasurer, and
| Z. L. Michel as Vice President and Sec
| Rotary.
The postOfrCe addresses OF said direc-
tors are as follows: W. &. Smith, +. Z.
| Michel, F. W. Salmcn, all Of New Or
| leans. La.
These directors shall 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 fO rthe uneNpired term by the re-
naming directors. Each subscriber hereto
! sets after his name his pOStOfhce ad-
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 he 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
| lquidatOrs from among their number at
n meeting convened for that purpose,
after fifteen Q5) days written notice
| sent to each stakeholder by man to his
last known address; said lquidatOrs
shall have the authority to wind up the
| business and affairs of this corporation.
In case of the death Of liquidator, The
survivors shall appoint a stakeholder as
successor to him.
ARTICLE VII. This charter may he
modified. changed or altered, or said
| corporation may be dissolved, with the
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
| last known address,
| ARTICLE Will No subscriber for
| stock shall ever be held liable for the
| contracts, faults or debts of said cor
| poration in any further sum than :he
| unpaid balance, If any, due the corpOr-
| alton on the stock for which he has
subscribed; nor shall any stakeholder
| ever be held liable for such contracts,
| faults or debts in any further sum than
| the unpaid balance, if any, on the stock
! owned by him; nor shall any mere in
| formality in organization have the effect
| Of rendering this charter null or rem
derirg any subscriber or stakeholder
| liable beyond the unpaid amount, IL any.
i remaining due on his stock.
| No stakeholder in this corporation
can ever seel the stock owned by him
| in this corporation, or any part thereof.
without first offering the same in writ
| ing to the other stockholders, through
| the Board of Directors, at its then book
value. who will have the first option to
purchase the same; and in the event Of
| the death OF a stakeholder, the right is
| hereby reserved to the remaining stock
holders TO purchase said stock at its then
| book value.
ARTICLE TX. This corporation is
| organized under the laws of the State
| of Louisiana, and especially Act No. 267
| Of 1914 and the subscribers hereto, for
| themselves and said corporation. and
for its officers, directors and stockhold-