The herald., 1922-05-25
CHARTER.

individual security or pledges OF per
J sOnal property, or upon mortgages OIL
real estate or any other security; to sci
| and dispose of any and all Of its prop
erty at any time for cash or on credit
upon terms to be approved by its BOarC
! Of Directors, and to mortgage or pledge
any or all of its property for the pur
pose of raising funds for carrying oil
I its business or enterprises, and gener
ally to do any and all things german,
| to the purposes for which the said cor.
| pOration is organized; and the enumer
alton of special authorities and powers
i granted TO the said corporation, as above
| set forth, shall not be held to be a re-
/ striction or limitation upon the powers
| of said corporation; but said corpora
| ton, in addition thereto, shall have all
the rights and powers usually granted
! 10 corporations and authorized by the
| laws of the State of Louisiana.
ARTICLE ". The capital stock OF
this corporation is hereby fixed at the
sum Of One Million Dollars $1,000, 100000
to be divided into and represented by
Ten Thousand 100000 Shares, in the
sum of One Hundred Dollars (SlOO.OOJ
each; said stock shall be paid for in
cash or property.
The capital stock of this corporation
may be increased to the sum of Two
Million Dollars (S2,0OO,O O0O0)
This corporation shall commence doing
business and be going concern at once.
ARTICLE V. All the corporate powers
of said corporation shall be exercised
by Board of Directors consisting Of
not less than five and not more than
nine stockholders, majority of whom
shall constitute a quorum for the trans
action of business The Board of Direc-
tors shall elect annually from their num-
Der President. one to five Vice Presi-
dents, a Treasurer, and Secretary,
l9ft no l.I
by one person, and which person OF
persons need not be stakeholder in
this corporation. The President. or
Vice President may also act as Treasurer
or Secretary.
The first Board Of Directors shall con-
sist OF six stockholders and shall be
composed of r. f. Upton. ]. NJ. Lykes.
j. T. Lykes, II. T. Lykes. F. T.. Lykes
and George II. Sykes, with J. VI. Lykes
rs President. II. +. Upton. f. f. Lykes.
II. T. Lykes, J. T. LykeS and George
II. Sykes as Vice-Pres'dents. J. VI.
Lykcs as Treasurer. and r. f. Upton
as Secretary. The pOstoffce addresses
of said directors are as follows: J. VI.
Lykes, Galveston, Texas; r. +. Upton. |
New Orleans. La; George II. Sykes. Gal |
Florida; J. T. Lykes. % Beaver Street. |
New York, y. Y; F. f. Lykes, p. D. |
Box 1sS Havana, Cuba. These direc- |
tors and officers shall serve until the |
second Tuesday in January, 1923. or until |
their successors have been duly elected |
and qualified.
Directors may vote by written proxy
In favor of another director
The annual meeting of stockholders
Tor the election OF directors shall be
held on the second Tuesday in January
~ each year. unless said day be a legal
holiday, and then on the next bank day
hereafter. Each subscriber hereto sets
lfter his name his pOstoffce address and
statement OF the number OF shares OF |
tock which he agrees to take in the
corporation. At all elections every stock
lolder shall be entitled TO one vote for
ach share of stock standing in his name
m the books of the corporation, to be
asst in person or by his written proxy.
l majority of the votes cast shall elect
ARTICLE VI. In the event OF the
or dissolution Of this cor
'oraf1on, the stockholders shall elect
wo liquidators from among their num-
er at meeting convened for that pur-
ose, after ten days written notice sent
each stakeholder by mail to his last
nown address: said liquidators shall
ave ave the authority to wind up the bust
ess and affairs of this corporation
In case of death OF either OF said
quidators. the survivor shall appoint I
-ockholder as successor to him.
ARTICLE VII. No stakeholder in this :
can ever sell the stock owned :
him in this corporation, or any part {
lereot without first Offering the same. v
rough the Board of Directors. at its
zen book value. who will have the first
1tion to purchase the same. n
ARTICLE VIII. This charter NAV be p
odited, changed or altered, or said p
operation may be dissolved. with the v
sent OF stockholders owning three +
urths OF the entire capital stock. Mt
general meeting Of the stockholders
nvened for that purpose, after fifteen
D days written notice shall have been
ven 10 each stakeholder, mailed to him Z
MS last known address. ,
ARTICLE IN. No subscriber for stock ii
II ever be held liable for the con- W
acts, faults or debts of said corpor- IN
ion In any further sum than the un-
Id balance, If any. due the CORPORA
m On the stock for which he has sub
ri6ed nor shall any stakeholder ever
held liable for such contracts, faults in
debts In any further sum than the q,
paid balance if any, on the stock ot
hed by him; nor shall any mere in
'mallty in organization have the eff
Z or rendering, this charter null. or NJ
bic beyond the unpaid amount, If any A
aiming due on his stock.
ARIlCLE y. This corporation is
'anized under the laws of the State
louisiana, and especially Act No. 267
1914. ana the subscribers hereto for ia
rnselves and said corporation, and for lie:
officers, directors and stockholders. or
eby accept, as part of this charter ~
as conditions of said corporation. |"
tine rights, powers, privileges and a,
nuhlties granted to corporations. and ~
MED to and conferred upon officers Ur
ectors and stockholders Of corpora. m
rs by said laws and said act: sucb an
eptance being as full. complete and do
ding as IL said rights, powers, priv 81,
'es and immunities were set forth at In
length in this instrument ga
nus done and passed in nv notoriaI flu!
&c in the City of New Orleans, afore- in
l. IN the presence of Frazer l.. Rice on
Holger G. Kohnke. competent wit au
Ses of lawful age and residing i'm this res
: who hereuntO subscribe their nar,es vac
ether with said parties and me. No, pc
:, on the day and date set forth in S"i
caption hereof. a.,
Names of subscribers omitted) Co
illnesses: on
FRAZER L. RICE. of
HOLGER G. KOHNKE. the
W. W. YOUNG of