The herald., 1922-04-06
CHARTER.
increased up to the amount of five hun
d red thnnsand dollars $500 OOO.OOl.

increased M to the amount of five hun
dred thousand dollars ($5OO,OOO.OO).
No stockholder in this corporation shall
dispose of his holdings, or any part there
Of without first offering the same TO the
CORPORATION at its book value. Ana the
corporation shall have ten (1O) days with
In which to accept or reject the salu OF
fer. Upon the death OF any stOckhoIuer,
his stock shall forthwith, at the option OF
the corporation, be taken over by IL AT
its book value. The surviving widow OF
any stakeholder shall have the right 10
purchase this stock in preference 10 any
and all heirs after the same has been Of
| fered to and refused by the corporation.
| No stakeholder shall be held Liable or
| responsible for the contracts or faults OF
| said corporation in any further sum than
| the unpaid balance due on the shares OF
stock owned by him, nor shall any mere
| infOrmality in organization have the effect
| of rendering this charter null or OF eN-
posing the stockholders to any Liability
| beyond the unpaid amount due on their
| stock.
| ARTICLE V-All the corporate powers
of this corporation shall be vested in and
! its business and affairs managed by a
board of directors consisting OF hNe To-
| members. three of whom shall constitute
| a quorum for the transaction OF business
| Any vacancy or vacancies in the board Of
| directors shall be filled by the remaining
| directors.
The stockholders of this corporation
| IL,
| hereof. proceed to the election of board
| of directors to consist of five members.
| as well as the election of president,
| vice president, secretary and treasurer,
which last two officers may be held by
| one person. Annually thereafter, the
| said corporation shall elect from among
| its stockholders on the second Monday OF
March, of each year, board OF directors
| consisting of five members, as well as a
| president, a vice president, and secretary
| and treasurer, which last two offices may
| be held by one person.
The first board of directors and officers
| to be elected under this charter shall hold
office until the second Monday in March,
and qualified.
| Failure to elect directors on the day
above specified shall not dissolve this cor
pOratiOn but the directors then in Office
| shall remain in Office until their success
| sors are elected and qualified.
| Any member of the board of directors
may vote by written proxy.
| No contract shall be made or entered
| into by this corporation unless the same Is
| signed by three of its directors, except
| contracts for the immediate sale or pur-
| chase of commodities dealt in by TINS
! corporation, which can be executed by the
| president or vice-president of the corpora
| ton, as they deem hit and proper, and
such contracts for immediate delivery shall
| be binding on this corporation.
ARTICLE vI-An notices of stock
| holders or board of directors meetings,
| including the annual meeting herein pro-
| vided for, shall be held after twenty -four
hours written notice shall have been
mailed by the secretary to each stock
holder at his last known place of resi-
dence and at all stockholders meeting a
majority Of the stock represented by
proxy or otherwise shall control.
ARTICLE VII-This charter may be
amended, or the corporation may be dis
solved and liquidated, by a ffty-one per
cent. (5l9o) vote of the capital stock APP
pearing on the books of the company,
and in case of liquidation, the board of
directors then in Office shall liquidate the
corporation.
Thus done and passed, in my office, at
the city of New Orleans, on the day,
month and year herein first above written,
in the presence of August III. Ritter and
Miss Amelia Babin, competent witnesses
who hereunto sign their names, together
with said appearers and me, notary, after
reading of the whole, the said appearers
likewise subscribing for the number OF
shares set opposite their respective names
Names of subscribers, together with
their addresses and No. of sharesl.
Witnesses: A. Ii. Ritter. A. Babin.
]. NJ. QUINTERO.
Notary Public
/. the undersigned, Recorder of Mort
cages, in and for the Parish of Orleans
State of Louisiana, do hereby certify that
the above and foregoing act of incorpora
ton of L. Frank & Co., Inc, was this
day duly recorded in my office, in Book
1868, folio -.
New Orleans. La, February Is, 1922.
(Signed) ROBT. SCOTT,
| Deputy Recorder Mortgages
JIM. oUINTERo.
(SeaD: Notary Public
| Feb 23-Mch. 90