The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-07
CHARTER

! do all SuCn acts anu lHlH-0 as trading
corporations are authorized TO do uud.r
| the laws of the State of Louisiana.
ARTICLE 1.-THE domiril" Of This cor.
! poration shall be in the city Of New or
/ leans Parish Of Orleans, stat" of Louis
( lana, and all citations or other legal pro.
cess shall be served upon th" president "'
| the company. or, in his absence. upon Woe
| secretary of the company.
ARTICLE III-Thc objects and ru-.
poses for which this corporation .- o-.
| ganiZcd and the nItur" of %" h..Iu..-
| to be carried on by u ar" h"r..f 10.
| clarcd to be: To purchase cor other. i-r
! acquire, and to sell OF Oth"rNIr. a.... Ifr
or dispose of. aud To WOriEa-'. pledge.
hypothrcate, export and deal 90 cotton
aud other agricultural products, spot
and future, to do general cotton Irr
| rhaudiSing and export business, 10 DO
/ a general commission. fJ'tUrI-". u.r.
/ camille. warehouse and HIuufH.f turing
| business in connection with cotton or
| any other staple product; 10 purchase,
sell and deal in stock. bonds. comm, r,i4l
paper. obligations and S'"urItir- Of other
/ Individually firms, or corporations 10
carry on general Investment and under
| writing business; to purchase. Use. .ui-
/ tiyatr hold improve, sell. Uur'g
pledge or otherwise deal in and di~pu~,
| Of real or personal property, 20 own.
| lease or rent warehouse or Warehouses,
! and to do general warehOu,", export
! ing importing business, to exchange IFS
! thereof, for property, stocks. bonds or
other obligations OF other companies.
| firms or individuals; and generally To-
do all acts and things necessary. con
yeni"nt or appropriate 10 the accomplish
ment Of any of said purposes OF E.rmaur
thereto. and generally to do any and
everything not prohibited by law.
ARTICLE IV-The presently author
lied capital stock OF this corporation j.
hereby fixed at the sum Of Ou. Hundred
! md a IA,
divided into and represented by Fifteen
Hundred lJOOl shares of the par valu"
of one Hundred (SlOOOOi Dollars per
share. The amount of said stock may De-
increased TO one million t$lOOUpV0OOl dol
lars.
shall be binding upon the corporation
unless and until made and recorded upon
its books. No stakeholder shall have a
right to transfer or convey any Of their
stock in the corporation unless and until
they shall have first made written of
fer TO the other then stockholders of the
corporation, TO sell such stock to them
at the book value thereof. Book Value"
as used herein is hereby defined to mean
the value at which the assets and liahiI-
tiles of the corporation have been in good
faith entered upon its book. Such writ
ten offer shall be addressed To the other
then stockholders and TO the corpora
ton itself, collectively, and shall be de
livered 10 the office of the corporation
not less than ten 0O) days prior 10 the
application for transfer Of the stock.
The corporation shall transmit this offer
TO the respective then stockholders and
the stock OF the stockholders desiring
to sell shall be distributed pro rata
among such of the other stockholders as
desire to purchase, in the proportion
in which holdings of the stockholders
DESTROYS of purchasing bear to each
other. The corporation, shall have the
right to refuse to transfer any stock so
lnftfv ha11 .. 81.
transfer is in any way indebted to the
corporation, and the corporation shall
have lien, pledge and privilege on each
share of stock to secure any indebtedness
due by the shareholder to the corpora
ton. Should any of the stock offered for
sale be not desired by the other stock
holders within ten days from the receipt
az the corporations Office of the written
oner 10 sell, then, and then only, shall the
stakeholder desiring to sell be entitled to
transfer such undeSired portion of the
such price as such holder NAV see fit No
stock TO such person or persons. and at
tice of the provisions of this article shall
appear upon each certificate of stock is
sued by the corporation and shall be bind
ing upon every person now, or hereafter
becoming a stakeholder in this corpora
ton, all of whom agree TO the provisions
hereof and take such stock subject there
10; and all pledges. hypOtheCatOns or
other encumbranceS of said stock or deal
ihSs with regard thereto, shall be subject
10 the provisions hereof.
ARTICLE VI-AH the powers OF this cor.
p0ration shall be vested in and exercised
by a board composed of three directnrs
\ Majority of the board of directors shall
constitute quorum. The board of di-
rectorS shall be elected annually at the
st"ckhoiders meeting to be held annually
at the office of the corporation on the
first Tuesday in November of each wear
(or on the next legal day, if that be- a
holiday after notice given to each stock
holder by mail at least fifteen Q5) days
before the date of the meeting addressed
10 the last known address of the stock
hoIder. Special meetings of the stock
holders may be called by the board at
any tlIhe and notice thereof shall be given
IN the manner provided for ANIMAL meet !
lngS; provided that in all cases all no |
uces may be waived by unanimous con
sent. Eeach stakeholder shall be entitled
10 one vote for each share of stock stand |
ing IN the holders name on the books of |
the corporation, said vote to be east in |
person or by proxy. and a majority of the |
votes cast shall elect. Failure to elect |
directors on the day above specified shall |
not dissolve the corporation but the direc- |
tors then in Office shall remain in office |
until their successors are elected aud in |
stalled. The board of directors shall have
power TO NIL all vacancies which may Oc- |
cur or IN any manner arise or be created /
on the board, even though no quorum re- |
Mlan at the time such vacancies are to be |
hlled. The board shall elect from their |
hh'iotI IL PTeSluent. Inc board shall also |
eject a secretary and treasurer. and either |
OF sald officers may occupy one or more |
or the offices herein provided and said Of |
hcers or any of them need not be MEM
Ders or the board, and the board is ex-
pressly authorized from time to time to
dispense with any of said officers and |
or combine and or separate any of them
ana or elect any other such officers as the
board may think proper or convenient to |
the carrying on of the cOmpany's business
ana the president shall fix the salaries of |
the oHlcers, agents and employees. At |
any meeting of the board of directors
any director absent from the meeting may
De represented by any other director who
may east the vote of the absent director
according to written instructions either
general or special, of said absent direc-
Tor The board of directors shall have
authority to make and establish, as well
as after and amend. all bylaws, rules
ana regulations necessary and proper for
the support and management of the bust
ness and affairs of this corporation and
not inconsistent with this charter; and
they snail have power to authorize the
borrowing of money and the issuance of
notes and the execution of pledges and
mortgages, and generally to do all things
necessary or convenient for the proper
r nN