The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-12
CHARTER.

Z
.isi.r, and an citations ami other legal
rror.ss Shall be served upon the presi-
d,ut of tbiS corrorntiou or in cas-, of his
"bseura mon tho vice. r.sidcnt or in
as. Of absence of botb of ,u.S.. officers
mon Tho ,arr,t,ry- treasurer
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,o' I,T.",."" - m'Irus onnn nn, Li,b
y inouIIuu i'%'''.iS -, -;
nay re III, ISL !, o,' In, 80 n-', MI
t 1ir 'i',''",I pr, 80, nrn non -, ~
III, i,,,. ,,.,,, ~, ,r..''--aI tork
w. i..i,',t,.r ,r,i'ti
"
sand capital stock "t fli'E lAplN!hd
Dollars tNThoooUuD Is divided lhip hN'
hundred shares t1Oul OF one hundred DOL
Iars iHiouul each Whl'h sAtd '"I'ih""
STOCK snail nave voting power 81 on
CD vote Tor each share OF >'",N' Whlch
vote may he east by the -" N!nIueE III
person or by proxy. at All general "l'o-
uohN or meetings OF 'h' >l"'"t. '!H"F>, an"
the aforesaid proxy hr'd H"t ne "A Nt''"-
holder OF the corporation Stid 'apit'
stock u I" be pad Tor III me manner
provided 10y law.
In the event of an increase 80 the capt
tai stock of this corporation a. herein
provided. il shall be first offered TO the
stool holders of the company in the pro-
/ portion to their ownership of stock as
/ shown by the books of the company, and
| should any StockhOld,r refu~" or fail To
| purchase the stock allotted t. Linn. II shall
| ice offered to the remaining stockholders
/ in proportion to their ownership OF stock.
ami this process shall bc continued until
all the stock is sold. Ii the 81. khUlderS
! fail or refuse to purChaS, the stock. il
! shall he sold to other persons.
Preferred stock, when issued. shall not
| exceed ten per cent TIC o. cumulative
dividends, payable S'mi-anugdly on such
dates as may be- determined by IL" Board
of Directors. out of any and all surplus
or net profits before any dividends shall
he declared. set apart for or paid upon
the common stock. said dividends on the
preferred stock shall be cumulative, So
thar il the corporation shall fail in any
fiscal year To- pay such dividends on all
! of the issued and outstanding preferred
stock such deficiency in the dividends
shall be fully paid, with interest not to
exceed eight per cent SCI betor" any
dividend shall he declared Set apart or
paid upon the common stock. Subject TO
the foregoing provisions. IL" preferred
stock shall not bee entitled - participate
in any other or additional earnings or
, profits of the corporation. Preferred
stock may be retired by lot az any diyi-
dend period out of the earnings Of the
- company at One Hundred FiN" Dollars
, (SlOJ.O0J per share, plus acculumated div
idends and interest thereon.
In the event of the dissolution or .iqui-
datiOn of the corporation, or tn" sale of
all of its assets, whether voluntary or IN
, voluntary, in the event of its inSol-
. vency or any distribution Of its capital
, there shall be paid to the holders Of the
r preferred stock the par value thereof, to-
Wit: one Hundred Dollars $4,000, per
, share. and the amount of all unpaid ac-
crued dividends and interest thereon. be-
: fore any sum shall be paid or any assets
, distributed among the holders of the
. common stock; and after the payment To
the holders of the preferred stock of its
/ par value and the unpaid accrued divi-
{ bends. with interest. thereon the remain
Q ing assets and funds of the corporation
Y shall he divided among and paid TO the
: holders of the common stock according to
j. their Respective Shares. III, H..
Inc board OF plreclors III ,melI t's ST.
tlon out OF the earnings Ut suI PIun ma
dtclare anu pa! ulNIIthus on 'nS 'oi vi. ~
!. rr,fsrrad Stoct Tor anv dividend neriod
= pf an,. fis,.aI yoar nroyidad that ali ac-
J. cnunIatad dividends and interest on the
preferred stock for all previous fiscal
: years. as well as the current dividends
fl thereon shall have been paid in full.
n All outstanding common stock shall he
/" entitled to one IN vote. either in person
| or by proxy mt all meetings of the stock
. holders the preferred stock not being en-
: titled TO any vote
y No stakeholder shall have the right to
sell his stock until he first offers the
J. same through the secretary of the com
n pany, to the other stockholders of the
k company in the manner provided herein
n for the sale of increased stock for n period
d of thirty 1901 days at its book value as
:. shown by the last trial balance of thg
:. company
IS ARTICLE V-The powers of this cor
: | marathon shall be vested in and exercised
d nv n hoard Of five C5l directors. three go
of whom shall constitute 4 quorum. The
:. right is hereby given to and vested in the
= Roord of Directors to any time increase
y or decrease their aumber provided that
i at no time shall there be less than three
Z IN or more than nine (9) directors. A
:, majority of the Board of Directors shall
5. nj all times constitute quorum for the
l. transaction of business
e IT., .u, ,sons sboI, co,stitute
: me loi' D ~ T;roo,nrS Ered w
z - anI III i ~ NM Uo,,o- ~ Frit
5. . S,,on 80 RITZ Solnan
IT 'hle' -hioeit
:, All directors shall De ehttiSu 10 one
= ID vote either IN person OF Dg PtONS'
II but the proxy must ne stochhoiueI'
l. In the event of death, resignation. or
J. otherwise of any directors, the remaining
< directors shall elect successors for the
L | unexpired term.
j.: The officers of this corporation shall be
, a president, yice-president and secre-
:, tary treasurer. The right is hereby given
/ to and vested in the Board of Directors
II at any time in their discretion to divorce
d the offices of secretary and treasurer and
n constitute different persons as secretary
% and treasurer; the right is also hereby
IS given to and vested in the Board of Di-
y rectors at their discretion to combine any
II two offices to divorce them at their
LII nAA OIL -