The herald., 1922-03-02
ACT OF INCORPORATION OF
MARINE LUMBER CO., LTD.


! State of Louisiana, Parish of Orleans,
/ City of New Orleans. Be II known that
| on this the 18th day of the month oi
| January, i'll the year OF our LORD one
/ thousand nine hundred and twenty-five,
/ and of the Independence of the lnited
/ States of America the one hundred ana
| fOrty-siXth, before me, WALTER >.
| SUTTON, JR., a Notary Public, duly
/ commissioned and qualified in and for
I the city, parish and state aforesaid.
/ therein residing, and in the presence or
| the witnesses hereinafter named ana
undersigned, personally came ana ap-
peared the several persons whose names
are hereuntO subscribed, who declared
I that ayailing themselves OF the prOvl-
| 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 wei
/ as those who may hereafter become asso-
ciated with them, to form themselves into
I a corporation for the objects and Eur-
poses, with names and under the supu-
/ latiOns following, tO-wit:
! ARTICLE /. 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 all 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
| the power and authority to contract, sue
. and be sued: to make and use a cor
porate seal, the same to break or alter
at pleasure, and TO make all necessary
rules and regulations for its corporate
management and control.
ARTICLE H. The domicie 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
! in Of his absence in
ability to act. upon any other officer of
the corporation.
ARTICLE III. The objects and pur-
poses for which this corporation is or
ganized and the nature Of the business
TO be carried on by 1t 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 a 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
the objects and purposes above set forth.
ARTICLE ". The capital stock of
this corporation is hereby fixed at the
. sum of Six Thousand Dollars $4,000 00).
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 (s5O,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 it; said stock shall be fully
paid at the time of its issuance and there
after be non-assessable. 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
scripti0n 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
e the stockholders, in writing, through the
Secretary of the corporation, and each
! of the said stockholders shall be entitled
to purchase such proportion of the stock
1 so offered for sale as the number Of
( shares owned by him bears to the mum.
: Der of shares owned by all other stock
Il holders desiring to participate In tn,
= purchase. No sale under foreclosure
u pledge or hypothecation shall be validly
made until the foregoing requirement.
: have been complied with by the person
. o. persons, firm or corporation provok
!. ing such foreclosure or sale. And M
y stock shall be transferred on the book
. of this company to anyone other thar
= a stakeholder, save by and with the writ
!, ten consent of two-thirds of the stock
II holders in number and amount.
y ARTICLE Y, All the powers of thi
: exercised by a board of not less thai
= three nor more than seven directors, al
= determined in advance each year by tn
a stockholders at the annual meeting.
y the number of directors is more thai
y three, three directors shall at all time
!; constitute quorum. Every directo
- shall be bona fide stakeholder and shall
Al at all times own one 1ull-pa1d, unpledge(
n share of stock. The first Board of Direc
y tors shall consist Of w.. V. Easton so
= Canal Commercial Building. New Orleans
= La; o. ID. Jackson, 619 Godchaux Build
+ Ing, New Orleans. La; NJ. W. Grundy
6O1 Canal-Commercial Building, New Or
, leans. La; NJ. NJ. Baker, 55l5 Magazine
y street, New Orleans, La; August Krae
# mer. SIG n. Rocheblave avenue, New
y Orleans, La.
: The officers Of The corporation shall
!, consist Of a President. one or more Vice
n Presidents. Secretary and a Treasurer
The first officers of the corporation ar
p as follows: W. V. EastoD, who shall b.
!. President: o. ID. Jackson, who shall b.
!. Vice-President; NJ. w. Grundy, who shall
be Secretary; NJ. NJ. Baker who shall b.
:, Treasurer.
4 The above Board of Directors shall
"a hold office until the first annual meet
/ ing In December. 1922, or until their sue
+. cessors are electd and qualified. Eacl
a succeeding board shall continue to holC
q ofhce for one year, or until their suc
. cessors are elected and qualified. Tn
+ persons to be hereafter elected director
Tor subsequent years shall select from
m their own number the officers of tn
n corporation. The Board of Directors ma,
,e from time to time, and as the bushes
"a or the corporation may dictate, combin
n any two of the above officers in one an,
" the same person, giving to the combine,
( ofhce a style or title indicating the com
- bination.
N In the second week of December n
" each year the stockholders shall elect
@ Board or Directors for the ensuing year