The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-26
ACT OF INCORPORATION OF
MARINE LUMBER CO, LTD.


State of Louisiana, Parish of Orleans,
City of New Orleans. BE it known that
on this the 18th day of the month of
January. in the year of our Lord, one
thousand nine hundred and twenty two.
and of the Independence of the United
States of America the one hundred and
forty sixth, before me. WALTER j.
SUTTON. JR., Notary Public, duly
commissioned and qualified in and for
the city. parish and state aforesaid.
therein residing. and in the presence of
tire witnesses hereinafter named and
undersigned. personally came and ap-
peared the several persons whose names
are hereuntO subscribed. who declared
that. availing themselves of the provi-
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 well
as those who may hereafter become asso-
ciated with them, to form themselves into
corporation for the objects and pur-
poses with names and under the stipu-
latiOns following, tO-wit:
ARTICLE l. The name and style of
this corporation shall be MARINE LUM-
BIER CO, LTD, and by said corporate
name il 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 OF may here
after be granted by law to corporations
of the same kind and character, and
under said corporate name IL 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 Gomicile 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-
tary; or, in case Of his absence or 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 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
! tons, and generally to do any and all
1 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 (S6,0OO.O0)
| 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.O00OO; said stock
shall be issued only for cash or in pay
ment of property actually received by
this corporation, or services actually
rendered to il; said stock shall be fully
paid at the time of its issuance and there
| after be worcestershire. This corpora
| ton shall commence business and become
/ going concern soon as fifty per cent
of it's capital stock shall have been sub
/ scribed. and fifty per cent of the sub
/ scription 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, 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 fol
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-
i 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 &c
| ho ctn m fhrOnQl
| Secretary of the corporation, and eacl
of the said stockholders shall be entitled
to purchase such proportion of the stool
so offered for sale as the number o
shares owned by him bears to the mum
Der of shares owned by all other stock
holders desiring to participate In thu
purchase. No sale under foreclosure
pledge or hypothecation shall be valid,
made until the foregoing requirement.
have been complied with by the person
or persons. firm or corporation provok
ing such foreclosure or sale. And NJ
stock shall be transferred on the books
a stakeholder, save by and with the writ
ten consent of two-thirds Of the stock
holders in number and amount.
ARTICLE V. All the powers of thi
corporation shall be vested in and b.
exercised by a board of not less thai
three nor more than seven directors, a
determined in advance each year by tn
stockholders at the annual meeting.
the NUMBER OF directors is more tndl
three, three directors shall at all time
constitute quorum. Every directo
shall be a bona fde stakeholder and shall
at all times own one full-paid. unpledge'
share of stock. The first Board of DireC
tors shall consist of w. V. Easton, go
Canal Commercial Building New Orleans
La; o. ID. Jackson, $40 Godchaux Build
ing, New Orleans. La; NJ w. Grundy
6O1 Canal Commercial Building, New Or
leans. La; NJ. NJ. Baker. 5515 Magazin
| eff Ortaana IA August
mer, SIG n. Rocheblaye avenue, New
Orleans, La.
The officers of the corporation shall
consist Of a President. one or more Vice
Presidents. Secretary and Treasurer
The first officers of the corporation ar
as follows: W. V. EastoD, who shall b
President: o. u. Jackson. who shall b
Vice President: NJ. W. Grundy. who shall
be Secretary; NJ. NJ. Baker, who shall b
Treasurer.
The above Board of Directors sha|
hold office until the first annual meet
ing in December. 1922. or until their sue
cessors are electd and qualified. Eacl
succeeding board shall continue to hol'
office for one year, or until their sue
cessors are elected and qualified. TIL
persons to be hereafter elected director
for subsequent years shall select from
: their own number the officers of tn
corporation. The Board Of Directors ma
from time to time. and as the busines
of the corporation may dictate. combin
any two of the above officers in one an
the same person, giving to the combine
office a style or title indicating the com
bination