The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-05
CHARTER.

C1AR lex.
mixed property; also borrow and lend
money, make and issue notes and bonds
make contracts; receive grants of land.
or of personal property; and make and
use corporate seal. the same to alter
or break at pleasure: hut the failure to
have seal shall not invalidate any of
, the acts or proceedings of this corpora
ton; name and appoint such managers
directors, Officers, clerks and employees
and agents as the interest and convenience
OF said corporation may require; and
through its Board Of Directors make and
establish such bylaws. rules and regu-
/ latiOns for the proper management and
. regulation of the affairs of said corpora
tion as may be necessary, and the same
10 alter and change at pleasure. and
, shall possess all the rights. powers and
privileges to which corporations are or
may be by any general law or laws of
/ this State authorized and entitled to
possess. Said corporation may exercise
} IT, corporate powers within any other
State or territory in the United States or
/ foreign couRtry that shall permit the
! same.
! ARTICLE v.-The capital stock Of this
/ corporation is hereby fixed ut TIE sum of
/ Four Hundred Thousand and 90 100
! tS+Oo,WO.OO) Dollars, represented by four
/ thousand $4,000 shares of One Hundred
and OO/1OO (SlOOO0 Dollars, each.
All stock subscribed for shall be pay
! able at such times and on such terms and
! conditions as the Board Of Directors may
from time to time fix and determine in
each particular case or by general resOu
ton. or the Board of Directors may issue
! certificates of paid up stock in payment
of property or goods actually delivered to
this corporation or for services actually
rendered 10 it. or for rights, privileges or
/ franchises transferred to II. the valua-
ton in each instance to be agreed TO by
the Board of Directors. which shall have
full and final power to do so.
Said capital stock may be Increased to
the sum of One Million Dollars $1,000
OOO.OO) in the manner provided for by the
laws of this State. Whenever an Increase
of said capital stock shall have been
[ authorized or unsOld stock issued fifteen
| days written or printed notice shall b.
given to each stakeholder within which
/ time persons holding stock in this cor
poration shall have the right to subscribe
for said increased stock additions /.
issue Of stock in proportion to the number
of shares of stock then held by them. and
which additional shares shall be paid for
as the Board of Directors may direct.
After the expiration of said time the
Board of Directors may dispose of the
shares not taken. for the benefit of the
Company in such manner and on such
terms and conditions as they may think
proper.
Dividends shall be declared on the
amount actually credited on the capital
stock without regard TO the amount sub
| scribed for.
Dividends ACQUIRING to stockholders who
owe any portion of any stock subscribed
for by them shall be credited to such I'M
paid subscription until the full amount
! of all stock subscribed for by such stock
holders shall be paid in full Such credit
of dividends shall not in any manner
! relieve such stockholders from the pay
| ment of calls on such subscription, but
the credit of such dividends shall be il.
excess of the calls on such subscription
to stock. Interest at the rate of eight
per centum per annum shall be charged
| on the unpaid portion of calls on stock
subscribed for from the maturity of each
call.
If any installment or installments
stock subscribed for should not be paid
| within thirty days after the same shall
become due, such stock and the subscrip-
ton thereto, together with all installments
paid thereon. may be forfeited to the Com.
pany by resolution of the Board of Direc-
tors, without further notice or proceed
ings; or the Board of Directors may hold
the subscriber to said stock personally
responsible therefor and take legal pro-
ceedings to collect the installment or in
stallments due thereon.
The Company shall begin operation as
soon as two thousand (2OO0) shares of
the capital stock are subscribed for or
disposed of.
At all elections by or meetings of the
stockholders, each share of stock whether
paid for in full or not shall be entitled
to one vote to be cast either by the
person in whose name the stock appears
on the books of this corporation at the
time of the voting or by his agent or
, proxy, duly authorized in writing to that
effect.
All transfers of stock shall be made
, on the books of the corporation and shall
be signed by the stakeholder or by his
, ARTICLE vI.-The business and affairs
I and corporate powers Of this corporation
; shall be transacted by Board of Direc-
: I Of hon hran "A IA.
rectors nor more than seven directors
to be composed Of stockholders OF
this corporation owning at least ten G0)
shares of the capital stock. The stock
holders may at any annual meeting elect
less than seven directors and the direc
tors thus elected may prior to the next
T annual meeting elect one or more ad-
ditionaI members of the board Of directors
/ so as to make the board of directors
! not more than seven. The directors
whether elected by the stockholders OF
by the board Of directors, shall be elected
by majority of the votes at meet
ing of the stockholders or of the direc-
. tors, as the case may be.
A majority of the members of said
Board of Directors shall constitute
r quorum for the transaction and manage.
: ment of all business Of said corporation
Lester F. Alexander of New Orleans. Lou
} isiana. as President. John L. Dickey OF
New Orleans, Louisiana. as Vice-Presi-
{ dent and Secretary. and Robert X: Null
| 01N Oh New orfedus, l@OulsidHd. tOh-
stitute the first Board of Directors and
they shall hold office until the second
Tuesday In January 1923 or until theiI
r successors are elected and qualified; each
T subsequent Board shall take their seats
Immediately following their election, oil
as soon thereafter as practicable, and
shall hold their office until their sue
cessors shall have been elected and quail
r fed.
On the second Tuesday In January 1872
, and annually thereafter an election fol-
2 Directors by the stockholders shall be
e held at the office of the Company after
? fifteen days printed written notice
shall have been mailed to each stakeholder
or subscriber to stock at their respective
: addresses appearing on the books of the
I Company. Every Board OF Directors
shall at its first meeting after Its cleo
+ ton. or as soon thereafter as practicable
elect a President, a Vice President; and .
) Secretary who may or may not be mem
2 Der o. the Board, as the Board may de
: termine Or the Board may elect any
other officer to the position Of Secretary
The Board may also select one or more
' Assistant Secretaries who may or may
e not be members of the Board and gram
them such authority as the Board maj
deem wise.
y; A fs''rre to elect Directors on the dat
. above Syecified shall not dissolve the cor
! porati0n, but the then eyfgiing Board o
! Directors shall continue t. Aold their Of