The herald., 1922-04-27
CHARTER.

individual security or pledges OF per
sonal property, or upon mortgages on
real estate or any other security; TO sell
and dispose of any and all of its prop
erty at any time for cash or on credit,
upon terms to be approved by It's Board
of Directors and to mortgage or pleuSe
any or all of its property for the pur-
pose of raising funds for carrying on
its business or enterprises. ana Seher-
aIly 10 do any and all things germane
to the purposes for which the SAID cor
poratiOn is organized; and the enumer-
alton of special authorities ana powers
granted to the said corporation, as above
set forth shall not be held TO be re-
striction or limitation upon the powers
of said corporation; but said corpora
tion. 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
this corporation is hereby fixed at the
sum of one Million Dollars (SlOooOOoVOj
TO be divided into and represented 10y
Ten Thousand 100000 shares. IN the
sum of one Hundred Dollars Gloooo)
each; said stock shall be paid for IN
cash or property.
The capitaI stock of this corporation
may be increased to the sum Of Two
Million Dollars 80. 100000.
This corporation shall commence doing
business and be a going concern at once.
ARTICLE V. All the corporate powers
of said corporation shall be exercised
by Board of Directors consisting or
not less than five and not more than
nine stockholders. majority OF Whom
shall conStitut" a quorum for III" trans
action of business The Board of Dlrec-
tors shall elect annually from their mum
bcr President. one TO five Nice-Presi-
dents a Treasurer. and Secretary
which two latter offices may be hlled
by one person. and which person or
persons need not be stakeholder IN
this corporation. The President or
Vice President may also act rs Treasurer
or Secretary.
The first Board of Directors shall con
SiSt Of six stockholders and shall be
composed of II. +. Tipton. ]. VI. Lykes,
J. T. Lykcs. II. T. Lykes, +. Z. LykeS
and George II. Sykes, with !. VI. Lykes
as President. Il. L. Upton, f. +. Lykes,
II. r. Lykcs. J. T. LykeS and George
II. Sykes as Nice-PreS'dentS. j. VI.
Iykes as Treasurer. and r. +. Upton
As Secretary. The p"stoffce addresses
of said directors are aS follows: ]. VI.
Lykcs. Galveston. Texas; II. f. Upton,
New Orleans La: George II. Sykes Gal
weston. Texas; H. 7. LykcS. Tampa.
Florida: !. T. Lykes - Beaver street.
New York, y. Y; +. +. LykeS. p. q.
Box 7SS. Havana, Cuba These direc-
tors and officers shall serve until the
second Tuesday in January. 1929. or until
their successors have been duly elected
and qualified.
Directors may vote by written proxy
in favor Of another director.
The annual meeting Of stockholders
for the election of directors shall he
held on the second Tuesday in January
Of each year. unless said day be n legal
holiday. and then on the next bank day
thereafter. Each subscriber hereto sets
after his name his poStOffce address and
yff h., I. Of lIn of
stock which he agrees to take in the
corporation At all elections every stock
holder shall be entitled to one vote for
each share of stock standing in his nam"
on the books of the corporation. to he
cast in person or by his written proxy.
\ ma ioritv Of the votes cast shall elect
ARTICLE VI. In the event of the
liquidation or dissolution of this cor
poration. the stockholders shall elect
two liquidatorS from among their num-
Der at meeting convened for that pur-
pose, after ten days written notice sent
to each stockholder by mail 10 his last
known address; said 'HquidatorS snail
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 4
stockhOlder 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
may be dissolved. with the
assent of stockholders owning three
fOurths of the entire capital stock, at
a general meeting Of the stockholders
ii co. tIar
Q5 days written notice shall have been
given TO each stakeholder. mailed TO him
at his last known address.
ARTICLE IN. No subscriber for stock
slt II ever be held liable for the con-
tracts, faults or debts Of said corpor-
alton in any further sum than the un
paid balance. if any. due the corpora
tion On the stock for which he has sub |
scribed; nor shall any stockhOlder ever !
be held liable for such contracts. faults |
or debts in any further sum than the |
unpaid balance, if any. on the stock !
in organization have the ef- |
feet of rendering this charter null. or
any subscriber or stakeholder |
liable beyond the unpaid amount, if any, !
due on his stock.
ARTICLE y. This corporation is |
organized under the laws of the State
of Louisiana, and especially Act No. 267
of 1914. and the subscribers hereto. for
themselves and said corporation. and for |
its officers, directors and stockholders. |
hereby accept. as part of this charter
and as conditions of said corporation. |
all the rights, powers privileges and
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 as full. complete and
binding as if 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 narles |
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. K0HNKE.
w. w. YOUNG,
Notary Public.
I, the undersigned Recorder of Mort |
cages in and for the Parish of Orleans, |
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