The herald., 1922-06-08
CHARTER.

venience may require. and 10 make and .
establish as well as alter and amend
from time to time, such bylaws. rules ,
and regulations as may be necessary .
and eNpedient for the PROPER manage
ment and government of the affairs ~ .
said corporation.
ARTICLE III. The dOmicila Of this /
corporation is hereby fixed in the City .
Of New Orleans. State OF Louisiana. and .
all citations or other legal process shall! .
be served upon the President Of this .
corporation: or. in his absence. upon its .
Serretary-TreaSurer.
ARTICLE III The objects aud pur-
poses for which this corporation is es
tablshed and the nature OF the business
to be carried on by il are hereby d. .
clarcd to be: To carry on general
shipping business, including the rec"iy-
ing, handling, shipping and transporting
of goods, wares. merchandise and all
classes Of freight, by water.
ARTICLE ". The capital stock n
this corporation is hereby fixed At the
sum OF Twenty-Five Thousand Dollars
1928. 900 OOD. to be- divided into and rep
Resented by Two Hundred and Fifty
t2JOI Shares in the sum Of one Hun
drrd Dollars $1,000 each; said stock
[ shall only be issued for cash or in pay
/ mrnt Of property actually received or
/ purchased by said corporation. The cap
ital stock Of this corporation may be
/ increased to the sum % one Million Dol
/ lars tSLOOOOOOOOJ
/ ARTICLE V. All IA" corporate powers
. Of this corporation shall be exercised
by Board of Directors. consisting OF
three stockholders, a majority OF whom
. shall constitute quorum for the trans
7 action of business. The directors may
vote in person or by written proxy in
favor of another director. The Board
Of Directors shall elect annually from
among their number President and
Treasurer and a Vice President and
Secretary Treasurer. Any two offices
may be held by the same party.
The first Board Of Directors shall con-
s>t of three stockholders, and shall be
composed of W. q. Smith, +. p. Michel
and F. w. Salmen, with the said W. g.
Smith as President and Treasurer. and
r. +. Michel a. Vice President aud Sec
Rotary.
The poStofnce addresses OF said direc-
tors are as follows: W. &. Smith, f. p.
Michel. +. W. Salm"n, all Of New Or
! leans La.
These directors snail serve until the
third Tuesday in April. 1923. or until
their successors have been duly elected
, and qualified The annual meeting OF
stockholders for the election of direc-
tors shall he held on the third Tuesday
! in April of each year unless said day
lie a legal holiday, and then on the next
bank day thereafter. Any vacancy Oc-
curing among the directors by death,
| resignation or otherwise shall be filled yb
| election fo rthe uneNp ired term by the re-
naming directors Each subscriber hereto
I SETS after his name his pOstOffice ad-
dress and statement Of the number of
shares Of stock which he agrees to take
in the corporation. At all elections every
stakeholder shall be entitled 10 one vote
for each share of stock standing in his
name on the books OF the COrpOratin,
, to he cast in person or by his written
proxy. \ majority OF the votes cast shall
I elect.
L.,
! LIQUIDATION or dissolution Of this cOrpor-
/, | alton, the stockholders shall elect three
/, liquidatOrs from among their number at
| 4 meeting convened for that purpose
, | after fifteen I'D days written notice
: sent to each stakeholder by mai to his
; last known address; said liquidators
r shall have the authority to wind up th'
business and affairs Of this corporation
0 In case OF the death of lquidator, 'h'
, survivors shall appoint stockholder a
: successor to him.
! ARTICLE VII. This charter may b.
: modified. changed or altered, or salC
: | corporation may be dissolved, with tn
assent of stockholders owning twO-thirf
| of the entire capital stock at genera
| meeting of the stockholders convened 10
that purpose. after fifteen Q5) days
| written notice shall have been given 4
each stakeholder. mailed to him at hi
A last known address.
n ARTICLE VIII. No subscriber 10
Il | stock snail ever De nelu lldble lOH III
), contracts. faults or debts of said cor
y poration in any further sum than n
unpaid balance, II any, due the corpor
alton on the stock for which he ha
subscribed: nor shall any stockholde
$. ever be held liable for such contract
lie faults or debts in any further sum tina
lie the unpaid balance. If any, on the stOc
y owned by him; nor shall any mere IN
y formality In organization have the eheC
Of rendering this charter null. or rer
l. derirg any subscriber or stockholde
l. liable beyond the unpaid amount, IL an!
'e remaining due on his stock.
al No stakeholder in this corporate
D can ever seel the stock owned by hi
r in this corporation. or any part thereo
without first offering the same in wri
>, ing to the other stockholders, throuS
n the Board OF Directors, at its then boo
ID value, who will have the first option
IN purchase the same: and in the event
the death OF a stakeholder, the right
!: hereby reserved to the remaining stocl
"a holders to purchase said stock at Its the
nm | book value.
ARTICLE TX. This corporation
, organized under the laws Of the sta
N Of Louisiana. and especially Act No. p
~ 1914 and the subscribers hereto, fC
r themselves and said corporation. an
Id for its officers. directors and stockhoiC