The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-20
CHARTER.

exchange, acquire by grant, gift or pur-
chase devise or bequeSt, sell ALLEVIATE, dis
pose Of, convey, lease, pledge. pawn, hy-
pothecate, cucumber or mortgage pro-
perry OF any kind, whether real, personal
or mixed, corporal or incOrpOreal, mOy-
aDle. or immoyable, all subject to such
limitations as may be prescribed by law
1t may make, issue and endorse bonds or
notes and other evidences of debt. IL
may accept mortgages, pledges or other
forms OF security for money loaned or
! other debts. 1t may contract, sue and be
sued, plead or be implicated by its cor
pOrate name in any court of competent
jurisdiction 1t may make. adopt and
use use a corporate seal and alter or break
the same at pleasure. 1t may hold stock
in other corporations, and its CAPITAL
stock may be issued for capital stock of
other corporations. 1t may name. appoint
ana employ such managers, directors of
hcers, agents and other employees as
its interests, business and convenience
may require, and may fix their cOmpensa-
tion, having due regard to the nature
character and value of their service IL
may make and establish bylaws rules
and regulations not inconsistent with this
charter or any existing law, fixing or al
tering the management of its property, the
regulation and government of its affairs
and the manner of the certifcation and
registration of its stock. 1t may wind
up and dissolve itself. be wound ~
and dissolved in the manner prescribed
] ny law. III MAY tOnuOct business IN TINS
state. other states. the Federal Districts
! the Territories and possessions of the
! United States and any foreign country. II
! shall have the power to invest its board
! Of directors with all of it's corporal,
powers, subject to such restrictions a,
| may be named in this charter. And il
generally shall have and possess all the
| powers, rights, privileges, and immunities
which corporations are and may hereafter
! be authorized to have and possess under
! the Constitution and the laws of tn,
/ state, and particularly under Act No. 26I
of the Acts of the General Assembly Of the
| state of Louisiana for the year 1914. and
| the amendments thereto.
| ARTICLE 1.-THE domicile of this cor
| poratiOn shall be the City of New Orleans
| Parish of Orleans, State of Louisiana, ana
= all citations or other legal process shall
| be served upon the president of this cor
pOratiOn or in case of his absence upOT
| the vice-preSident or in the absence OF
| both of these officers upon the secretary
or treasurer of this corporation.
| ARTICLE III-The objects and pur
poses for which this corporation is formed
, and the nature of the business to be car.
| ried on by il hereby declared to be: Tt
| buy, sell, import. export. and generally
| trade and deal in or with. either for its
own account or as agent of others. al
| kinds Of real and personal property. but
| particularly all kinds of mechanical appa.
ratus. machines and machinery, and parts
! thereof, tools, supplies and utensils of al
|
| in wood. metal. earthenware or other ma
| terial TO construct, weld, repair and
erect the same and to make castings and
] fOrgingS of all kinds: and generally e
| carry on any other business which under
! the law il may be entitled to carry on
which may seem to the corporation to bt
| calculated. directly or indirectly. to effect
| the aforesaid objects and purposes oil
| either of them, or to facilitate the corpora
ton in the transaction of any other Lawful
| business that might be calculated, directly
or indirectly, TO enhance the value Of OF
| to render profitable any of the corpora
| tons property and rights: and generally
| to hold and exercise all such incidenta
powers and privileges and to do and per
! form all things as relate to the objects
and purposes hereinabOve set forth, or as
or convenient for effecting such object:
and purposes or either of them.
ARTICLE IV-The authorized capita
i stock of this corporation is hereby FIXED
at and declared 10 be the sum OF flttN
thousand (S50,OO0O0) dollars. which capt
4 tai stock may be increased in the manner
provided by law to the sum of one hun
, dred thousand (sl00,O0O.0O dollars.
The presently authorized capital stool
of this corporation shall consist OF nv
hundred 600 shares of the par value o
one hundred (Sl00.00) dollars each;
/ shall be represented by certificates, shall
be full paid and worcestershire when Is
| sued shall be issued only for labor don'
| or for property actually received, or 10
| cash TO be paid at such times and In Suct
| amounts and after such notice may b'
| determined by the board OF directors, an'
| shall be personal property. No transfe
of said capital stock shall be binding upOl
! this corporation unless made in accord
ance with its charter and bylaws and re
corded on the books thereof.
/ ARTICLE y-NO stakeholder may sell
| assign or transfer his stock in TINS cor
poration without giving to the othe
stockholders, through the secretary o
this corporation, notice in writing OF suci
intention, and the other stakeholder
! shall have the right for a period of thlrt!
days from the delivery Of such notlce U
the secretary. to purchase all or any par
| of the stock of such stakeholder for casl
| Mt the book value thereof. after whicl
thirty days the said stock may be sol'
| without restriction.
| Whenever the employment of any stock
| holder by this corporation Is terminated
either by death. resignation, dismissal
| lapse of time or otherwise, the othe
| Stockholders shall have the right 10
| thirty days from the date OF such term
nation to purchase all or any part OF IN
| stock of such stakeholder for cash az TN
book value thereof, after which thlrt.
days the said stock may be sold wlthou
restriction.
Other stockholders desiring to purchaS
| stock under this article must in due TIM
| give notice of such desire to the secretar!
1
other stockholders offer to buy more sIocl
than is offered for sale. stockholders oner
| ing to buy shall be entitled 10 Duy TN
! offered stock in the ratio OF their owl
| then stock holdings in this corporation
For the purposes of this article, the Dooi
! value shall be determined by the ngure
| as shown on the last financial statement
No sale or other transfer or assignment
| Of stock in this corporation shall be vah'
until and unless opportunity TO purchas
| such stock has first been given In IN
manner hereinabove provided to the othe
stockholders of this corporation; ana I'M
| right so vested in the other stockholIer
shall follow into any hands into whlch
NAV pass any stock sold, transferred
assigned without such opportunity penn
given, and may be exercised against s,n tn
holder or holders thereof within hihel.
| 1eOO DAVIS after such stock is rendered 10
transfer on the books of this corporation Ih.1
and no transfer of any such stock shal
b. made on the books of this corporation
during the pendency of said ninety ('o
day period.
! ARTICLE vI-AIl the corporate power
| ~ this CORPORATION shall be vested III am
exercised by board of four ~ dlrector'
| halI hold in his own nam