The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-15
CHARTER.


ceiving the highest number Of votes cast
! at said election shall be declared elected,
| and the Board Of Directors thus elected
| shall meet and organic" as soon after
said election as possible A.; 4 majority
! of the whole Board shall constitute
quorum. and directors absent or unable
TO attend may authorize directors present
10 represent them by written proxy, filed
with the Secretary. and with all the
powers such absentees could exercise if
/ present in person.
All routine business matters shall be
decided hy the majority vote of the
Z quorum present at such meeting. not
! with>tandinG anything in this charter or
/ the law to the contrary, but any matter
/ or thing affecting the general policy.
/ property or corporate rights of the cor
/ pOration shall be adopted only by the
vote of the majority of stock held 10y
/ the individual members of the whole
/ Board of Directors, and proper minute
/ entries shall be made To- show these facts.
/ The Board of Directors may establish
/ bylaws, rules ami regulations for tn"
government of Tn" corporation. and it
may also create committees for the man
! agemcut of the several departments Of
/ its business including an Executive Com
mittce of not less than three CD mem
! beers of the Board. which committee shall
! be empowered to exercise all the func-
| tiouS of the Board of Directors during
/ the recess Of this Board, save those
, herein reserved for the full Board. The
| Board of Directors shall fill vacancies
| occurring in this body during the term
thereof. Meetings of the Board of Dircc-
tors may he held at such times as shall
| be set by the Board itself, at the
call of the President and at the request
| of any two stockholders.
ARTICLE VI. This charter may be
| amended and the capital stock increased
| and decreased with the consent Of two
thirds of all Of its stock expressed at
meeting called for that purpose, or in
any other way permitted by law.
ARTICLE VII This charter may be
] dissolved with the consent of twO-thirdS
of the issued and outstanding capital
| stock expressed at a meeting called for
that purpose, or in any way permitted
by law. Upon the dissolution Of the cor
pOratiOn by limitation or otherwise the
stockholders shall elect from among their
number one or more liquidatorS. and fix
the terms, conditions and other provi-
sions regarding the liquidation as well
as the compensation of the liquidatOrs.
ARTICLE VIII. No stakeholder shall
the contracts or faults of this cOrpOr
alton in any further sum than the I'M
paid balance due this corporation on the
| shares owned by him. nor shall any
mere informality in the organization have
the effect of rendering this charter null
| or of exposing the stockholders to any
liability beyond the unpaid balance.
ARTICLE IN. Wherever notice is re-
quired by law or by this charter, the
| same may be given in writing, deliv-
cred in person or sent to the last known
| address. as is prescribed in Article of
this charter. and twenty -four hours will
| be sufficient for all purposes, except
where otherwise prescribed by law. Any
and all notices required by law or by
! this charter may be waived by unani-
| nous consent of the Board of Directors
! or the stockholders, as the case may be-
| and such waiver shall be entered on the
minutes of the meeting to which they
! apply.
Thus done and passed in my notarial
] in h.. .sFv~ e Nm flr1a fasa
! of Louisiana, on the date aforesaid, in
the presence of John Dart and Henry
! Grady Price. competent witnesses, who
/ have hercuntO signed their names with
the said parties, and they have set out
| their addresses and the number Of shares
held by them, and me. Notary, after
reading of the whole.
shares, Biloxi. Miss Robert r. Long
by ID. j. Gay, IS shares, Atmore. Ala. ;
Edward c. Gay, by ID. j. Gay, 3 shares
Biloxi, Miss; Henry $. Turner, l share
| New Orleans, La; Benjamin w. Dart
81 shares. New Orleans. La; WillOughby
y. Cox, 80 shares, New Orleans. La.
Witnesses:
JOHN DART.
HENRY GRADY PRICE.
HENRY z. DART, JR.,
Notary Public.
hereby certify that this is a true and
correct copy of the act of Incorporation
| of Producers Sales Company, Inc, passed
before me on the 9th day of May, 1922,
the original of which is on file in my
notarial office.
HENRY p. DART, JR.,
Notary Public.
State Of Louisiana, Parish of Orleans,
City of New Orleans. Before me- the
undersigned authority, personally, came
and appeared Daniel ]. Gay and Henry
me, depose and say:
That they are two of the original in
cOrpOratOrs of the Producers Sales Com
Pany, Inc. That the entire Twenty five
Thousand Dollars (S25, 100000 capital
scribed for and paid by the incorpor-
ators of said company as follows:
Daniel ]. Gay, postoffice Biloxi, Miss,
so shares, of which he has paid in cash
for 80 shares, $5.000.00 and has agreed
to pay the balance within one year from
| date hereof.
Robert Il. Long postoffce Atmore, Ala.
50 shares, of which he has paid in cash
for 30 shares, or $5,O00.OO, and has agreed
to pay the balance within one year from
date hereof.
Edward c. Gay. postoffce Biloxi. Miss
3 shares, for which he has paid in cash
Henry S. Turner. postoffce New Or
leans, La: ! share, for which he has paid
Benjamin W. Dart, postoffice New Or
leans, La. 81 shares for which he has
paid $4,000 in cash.
Willoughby A. Cox, pOstoffce, New
dreams, Ldp oJ shdIes, Tor Wnlch ne mas
| paid for 20 shares, 100000 in cash, and
for the balance he has agreed to pay the
same within one year from date hereof.
The appearers further declare that
there has been paid in cash more than
90 per cent of the subscribed capital
| stock.
Original signed: Daniel J. Gay, Henry
| s. Turner.
Sworn TO and subscribed before me.
Notary, this 9th day of May. 1922.
HENRY 2. DART, JR.,
Notary Public.
A true and correct copy:
HENRY z. DART, JR..f
Notary Public.
June 1-JulyS
CHARTER OF