The herald., 1922-02-23
ACT OF INCORPORATION OF
MARINE LUMBER CO., LTD.

/ lily OF New orleans. he II kHONH lHdl
on this the 18th day of the month of
January, in the year of our Lord, one
thousand nine hundred and twenty two,
and OF the Independence of the United
States of America the one hundred and
| forty sixth, before me, WALTER j.
| SUTTON, JR., Notary Public, duly
| commissioned and qualified in and for
| the city, parish and state aforesaid,
therein residing, and in the presence of
| tire witnesses hereinafter named and
undersigned, personally came and APP
peared the several persons whose names
are hereuntO subscribed, who declared
that, availing themselves of the prOvi-
sions of the laws of this state relative
to the formation and organization of cor
poratiOns, they have covenanted and
agreed and do by these presents cove
nant, agree and bind themselves, as well
as those who may hereafter become assO-
| ciated with them, to form themselves into
a corporation for the objects and pur-
poses, with names and under the stipu-
latiOns following, tO-wit:
ARTICLE i. The name and style of
this corporation shall be MARINE LUM-
Der CO., LTD, and by said corporate
name it shall have and enjoy succession
and existence for period of ninety nine
years, unless sooner dissolved and shall
have ali the rights, privileges and i'm.
munities which are now or may here
after be granted by law to corporations
of the same kind and character. and
under said corporate name it shall have
and be sued; to make and use a cor
pOrate seal, the same to break alter
at pleasure, and to make all necessary
rules and regulations for its corporate
management and control.
ARTICLE III. The dOmicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans, State of
Louisiana. and citation and other legal
process shall be served upon the Secre-
tary; or, in case of his absence or in
| nf
| the corporation.
ARTICLE III. The objects and pur-
poses for which this corporation is Or
ganiZed and fife nature of the business
to be carried on by it are hereby declared
to be: To buy, hold, own, sell, and
generally to deal in any and all kinds
Of lumber. and any and all kinds of
building material, and to handle same
on commission basis; to buy, hold
own, sell and generally to deal in tim
Der and timber leases; to cut, prepare
and manufacture any and all kinds of
lumber; to import and export timber,
lumber and building material; to buy,
hold, own and sell real estate necessary
for the business of the corporation; to
purchase and acquire the assets and
goodwill of other businesses whose
objects and purposes are incidental or
similar to those of this corporation; to
buy and own stock in other corpora
tions. and generally to do any and all
things incidental or germane to any of
ARTICLE Nv. The capital stock of
this corporation is hereby fixed at the
sum of Six Thousand Dollars $4,000 Co.,
divided into one hundred and twenty
shares OF the par value of One Hundred
Dollars each, all of which shall be COM
mon stock; and the amount to which
the capital stock may be increased is
hereby fixed at the sum of Fifty Thou
sand Dollars t$50,OO0.O0); said stock
shall be issued only for cash or in pay
ment Of property actually received by
this corporation, or services actually
rendered to 1t; said stock shall be fully
paid at the time of its issuance and there
after be worcestershire. This corpora
ton shall commence business and become
going concern as soon as fifty per cent
OF its capital stock shall have been sub
scribed and fifty per cent Of the sub
scription paid for.
The parties to this act hereby declare
that they have subscribed for the num-
Der of shares of the capital stock of said
corporation set opposite their respective
signatures hereto, so that this act of in
corporation shall serve as the original
subscription.
No present or future stakeholder of
this corporation shall ever SELL assign
or transfer other than by inheritance any
of the capital stock of this corporation
until the same shall have been first Of
fered to the remaining stockholders for
the benefit Of those stockholders who
may desire to purchase the same, through
the Board OF Directors, for a period of
ten days. at the book value of such stock
as shown by the books Of the corpora
ton on the Both day of November, pre-
ceding the date of such offer. 1t shall
be the duty of the Board of Directors
upon receiving an offer of sale of any
Of the capital stock of this corporation.
promptly to communicate the same to
the stockholders, in writing, through the
Of the said stockholders shall be entitled
10 purchase such proportion Of the stock
SO offered for sale as the number of
shares owned by him bears to the num-
per OF shares owned by all other stock
holders desiring to participate in the
purchase. No sale under foreclosure.
pledge or hypOthecation shall be yalidly
made until the foregoing requirements
nave been complied with by the person |
or persons, firm or corporation provok- |
Ing such foreclosure or sale And no |
stock shall be transferred on the books
OF thls company to anyone other than |
stockholder, save by and with the writ. |
ten consent of two-thirds of the stock. |
holders In number and amount.
ARTICLE V. All the powers of this |
corporation shall be vested in and be |
exercised by a board Of not less than |
three nor more than seven directors. as
determined in advance each wear by the
stockholders at the annual meeting. If |
the number Of directors is more than
three, three directors shall at all times
e cons quorum. Every director
at an times own one full-paid, unpledged
share Of stock. The first Board of Direc.
tors shall consist of w. v. Easton. sol
canal Commercial Building. New Orleans.
La; .. ID. Jackson, 619 Godchaux Build'
ing, New Orleans. La; NJ w. .Grundv
b0l Canal Commercial Building, New Or
leans, La; NJ. NJ. Baker, 55i5 Magazine
street New Orleans, La; August Krae
nt, oio N. Rocheblave avenue, New
The officers of the CORPORATION shou
consist OF President, one or more Vice
r,esluents. Secretary and a Treasurer
me nrst oincers OF the corporation are
Is follows: w. V. EastoD, who shall he
President; o. ID. Jackson, who shall he
Vice President: NJ. w. Grundy. who shall
Treasurer. 'A"ii oe
The above Board of Directors shall
hold office until the first annual meet.
ng In December, 1922 or until their snc-
'essors are electd and qualified Each
ucceeding board shall continue to hold
'1hce Tor one year, or until their suc
essors are elected and qualified. The
'ersons to be hereafter elected directors
or subsequent years shall select from
heir own number the officers of the
orporation. The Board Of Directors NAV
rom time to time, and as the business
4 the corporation may dictate, combine
ny two Of the above officers in one and
ne same person, giving to the combined
fhce style or title Indicating the COM
ination. WV WIN
In the second week Of December NJ
acn year the stockholders shall elect a
'oard OF Directors for the ensuing wear
tut the Board Of Directors and the off
ers already installed shall continue In