The herald., 1922-08-31
CHARTER

do all such acts and things as traIinr
corporations are authorized to do und,l
the laws sf the State of Louisiana.
ARTICLE 1.-The domicilc of thi, cor
poration shall be in the City of New or
leans Parish of Orleans. State of Iuui.
cess shall be served upon the president OF
the company, or, in his absence, upon tn,
secretary Of the company.
ARTICLE III-Thc objects and pur
poses for which this corporation is or
ganized and the nature of the business
| to be carried on by II are hereby de
clared to be: To purchase or otherwise
acquire, and 10 sell or otherwise ALLEVIATE
! or dispose Of aud to mortgage pledge,
! hypOthccate, export and deal in cotton
| and other agricultural products sDot
/ and future; TO do a general cotton mcr-
| chandiSing and export business. to do
Il general commission. factorag.. mrr-
| 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
! individually firms, or corporations. to
| carry on a general investment and under
writing business; to purchase, use. cul-
! tivate. hold. improve. sell. MORTGAGE
pledge or otherwise deal in and dispo,.
of real or personal property, to own
lease or rent warehouse or warehouses
and TO do a general warehouse, export
ing importing business; to cNchang. its
entire assets and business. or any part
thereof, for property. stocks. bonds or
firms or individuals; and generally 10
do all acts and things necessary. con
venicnt or appropriate TO the accomplish
ment of any of said purposes or grrmane
thereto, and generally To do any and
everything not prohibited by law
ARTICLE Iv-The presently author
lied capital stock Of this corporation i,
hereby fixed at the sum of one Hundred
and Fifty Thousand (SIjOO00OOi Dollars,
divided into and represented by Fifteen
Hundred ljOO) shares of the par value
of One Hundred (SlOOOOl Dollars Der
share. The amount of said stock may De-
increased to one million tSl,OO0OOOOD dol
lars.
ARTICLE V-No transfer Of stock
shall be binding upon the corporation
unless and until made and recorded upou
its books. No stakeholder shall have a |
right TO transfer or convey any of their I
stock in the corporation unless and until /
they shall have first made a written Of /
fer 10 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 liabil- /
tiles of the corporation have been in good |
faith entered upon its book. Such writ
ten offer shall be addressed to the other
then stockholders and TO the corpora
ton itself collectively, and shall be de
livered to the office of the corporation
not less than ten GOl 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
n IN tran tsfa !
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
snare OF STOCK TO secure any Indebtedness !
iue by the shareholder to the corpora
ION. should any of the stock offered for
sale be not desired by the other stock
ioIaers within ten days from the receipt
~ the corporations Office of the written
'ner to sell, then, and then only. shall the
'tockholder desiring to sell be entitled TO
ransfer such undesired portion of the
uch price as such holder may see fit No
tOck 10 such person or persons and at
ice of the provisions of this article shall
Ppear upon each certificate of stock is I
ued Dy the corporation and shall be bind
ns upon every person now, or hereafter !
.ecOmlnG stakeholder in this corpora
ION, all OF whom agree to the provisions | {
ereof and take such stock subject there | 5
o; ana all pledges. approximations or I
tner encumbrances of said stock. or deal l
o the provisions hereof ,
.RTICLE VI-An the powers of this cor !
=, ora.II IN shall be vested in and exercised
majority of the board Of directors shall ]
INSTITUTE quorum. The board of di- | !
ect0rs shall be elected annually AT the t
,ochhoiders meeting to be held annually 5
thS oHice OF the corporation on the Q
rst Tuesday in November of each vegr o
DT on the next legal day, if that be-
oldaS after notice given to each stock 4
ofora -! man AT least fifteen 10 days Y
the laSt known address of the stock .
oiIer. special meetings of the stock .
oIuers may be called by the board at !,
ny time and notice thereof shall he given ! y
! the manner provided for annual meet d
rs provided that in all cases all no "
ces may be waived by unanimous con
'Ht. Eeach stakeholder shall be entitled Il
one vote for each share of stock stand al
X In the holders name on the hooks of e
IL corporation, said vote TO be cast in q
sIsoh or by proxy, and a majority of the d.
'ees cast shall elect. Failure to elect Sc
rectOrs on the day above specified shall =
Dt dissolve the corporation bur the direc- n
rs then IN Office shall remain i'm office fl
lIll their successors are elected and in ca
alied' The board of directors shall have
'Wer TO nil all vacancies which may oc- N,
II or IN any manner arise or he created -
the board, even though no quorum re- n,
ian at the time such vacancies are TO be a.
Inc BOARD snail elect from their
lniDer president. The board shall also =.
fct secretary and treasurer and either iu
Sald Officers may occupy one or more IA
the Offices herein provided and said Of az
ers or any of them need not be mem al
RS or the board, and the board is eX- an
essly authorized from time TO time 10 III
Spehse with any of said officers and.
combine and or separate any of them tn
u or elect any other such officers as the da
ara may think proper or convenient to by
? carrying on of the cOmpany's business la
q the president shall fix the salaries of
oHlcers, agents and employees At i'm
y meeting of the board of directors 81
director absent from the meeting NAV va
represented by any other director who ar
y East the vote of the absent director sb
.oruihg To written instructions, either m
neral or special, of said absent direc- | IN,
Inc board of directors shall have nm
'horlty TO make and establish, as well an
, AFTER and amend. all bylaws. rules W.
regulations necessary and proper for
support and management of the bust oW
IS and affairs of this corporation and ele
inconsistent with this charter: and an
y snaIl have power to authorize the ele
rro"lng OF money and the issuance of ma
Les ana the execution of pledges and IRE
rlgages' and generally to do all things on
'essdry or convenient for the proper 4
rylng on of the business of the corpoa- vid
IL StO
ntlI the general meeting of the stock 70