The herald. [volume] (New Orleans, La.) 1905-1953, 1922-05-04
CHARTER.

individual security or pledges OF pen
SOnal property. or upon mortgages ~
, real estate OF any other seCuTlt! TO ~
and dispose OF any and all Of its prop
erty at any time for cash OF on creu4.,
upun terms 10 be approved ty Its BcATa
Of Directors and 10 mortgage or pledge
any or all of its property Tor the ruF-
pose 81 raising funds for carrying on
lis business or enterprises, and Senef-
ally 10 do any and all things geFInane
/ 10 the purposes for which the SAID cor
] poration i organized: and the enumer-
alton Of special authorities ana powers
/ granted 10 the said corporation, IS ABOVE
{ SET forth shall not he held 10 be a re-
/ strictiou or limitation upon the powers
4 Of said corporation. but said corpora
Z ton. in addition thereto, shall have all
the rights and powers usually granted
TO corporations and authorized by the
/ laws Of the State Of Louisiana.
/ ARTICLE ". The capital stock or
4 this CORPORATION is hereby nNed az the
/ sum Of one Million Dollars tSl.pJpornVUl
/ 10 be divided into and represented o!
4 Ten Thousand GO,OC0y Shares, IL the
/ sum of one Hundred Dollars t>l"V"v'
/ each: said stock shall be PAID Tor IN
4 The capital stock Of this corporation
| may be increased 10 the sum Of Two
. Million Dollars lS20u0C0Nl.
This corporation shall commend" doing
ARTICLE V. All the corporate powers
. Of said corporation shall be exercised
by a Board Of Directors consisting OF
not less than i've and not more IMAM
nine stockholders. 4 majority OF whom
: shall constitute a quorum for the trans
action Of business The Board Of 1irec-
tors shall elect annually from their num-
Der a President. one 20 fve Nice-Fresi-
dents Treasurer. and a secretary,
which two latter ofnces may he hlI"d
NH ~
persons need not he stakeholder In
this corporation. The President or
Vice-Pre>ident may also act as Treasurer
or Secretary
The first Board Of Directors shall con
sist Of six stockholders and shall be
composed Of +. +. Upton. !. VI. Lykes.
!. T. Lykes. II. T. Lykes. F +. LyEes
and George H Sykes. with ]. VI. Lykes
a. President Il. Z. Upton. F. f. Lykes.
II. T. Lykes. J. T. LIKES and George
II. sykes as vice-Pres'ientS. ]. NJ.
Lykes as Treasurer. and +. E. Upton
as Secretary. The postcfnce addresses
Of said directors are as follows: j. VI.
LykeS. Galveston. Texas: r. Z. Upton,
New Orleans. La; George II. Sykes. Gal
weston. Texas; II. T. LIKES. Tampa.
Florida: ]. T. Lykes. % Beaver street,
New York. y. Y; +. Z. LIKES. p. q.
Box IS. Havana. Cuba. These direc-
tors and officers shall serve until the
second Tuesday in January. 1929. or until
tntlr successors nave bttE uulN fl'NlFN
and qualified.
Directors nav vote nv written proxy
in favor Of another director.
The annual meeting Of stockholders
for the election Of directors shall be
held on the second Tuesday in January
Of each year. unless said day be legal
holiday. and then on the next bank day
thereafter. Each subscriber hereto sets
after his name his postofice address and
a statement Of the number Of shares Of
stock which he agrees 10 take in the
corporation At all elections every stock
holder shall be entitled TO one vote for
each share of stock standing in his name
on the books Of the corporation. 10 be
cast in person or by his written proxy.
A majority Of the votes cast shall elect.
ARTICLE VI. In the event OF the
liquidation or dissolution Of this cor
porafion. the stockholders shall elect
two EquidatOrs from among their num-
Der at a meeting convened for that pur-
pose after ten days written notice sent
10 each stakeholder by mail to his last
known address; said liquidators shall
have the authority TO wind up the bust,
ness and affairs of this corporation.
In case Of death OF either Of said
liquidators, the survivor shall appoint a
stakeholder as successor to him.
ARTICLE VII. No stakeholder in this
corporation can ever sell the stock owned
by him in this corporation. or any part
thereof. without first Offering the same.
in writing. to the other stockholders.
through the Board Of Directors. at its
then book value, who will have the first
option to purchase the same.
ARTICLE VIII. This charter may be
modified, changed or altered, or said
corporation may be dissolved. with the
assent of stockholders owning three
fourths of the entire capital stock. at
a general meeting OF the stockholders
convened for that purpose. after fifteen
(15) days written notice shall have been
given TO each stakeholder. mailed to him
at his last known address.
ARTICLE TX. No subscriber for stock
sic II ever be held liable for the con-
tracts. faults or debts Of said corpor-
alton in any further sum than the un-
ton On the stock for which he has sub
scribed: nor shall any stakeholder ever
be held liable for such contracts, faults
or debts in any further sum than the
owned by him: nor shall any mere in
fOrmality in organization have the ef-
feet Of rendering this charter null. or
rendering any subscriber or stakeholder
liable beyond the unpaid amount, IL any,
emaining due on his stock.
ARTICLE Y. This corporation is
organized under the laws of the State
Of Louisiana. and especially Act No. 90
Of 1914. and the subscribers hereto. for
themselves and said corporation. and for
hereby accept as part Of this charter
and as conditions of said corporation.
all the rights, powers, privileges and
immunities granted to corporations. and
granted to and conferred upon officers
directors and stockholders OF corpora
tions by said laws and said act: such
acceptance being full complete and
binding as IL said rights. powers. priv
ileges and immunities were set forth at
full length in this instrument.
Thus done and passed in my notarial
office in the City of New Orleans. afore-
said, in the presence of Frazer L. Rice
and HOlger G. Kohnke. competent wit
nesses Of lawful age and residing in this
city, who hereunto subscribe their Mares
together with said parties and me- No
tary, on the day and date set forth in
the caption hereof.
Names Of subscribers omitted)
Witnesses:
FRAZER L. RICE,
HOLGER G. KOHNKE.
W. W. YOUNG,
Notary Public.