The herald., 1922-02-16
ACT or INCORPORATION OF
MARINE LUMBER CO, LTD.


State of Louisiana, Parish of Orleans
City of New Orleans. BE IL 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-siNth, before me, WALTER j.
SUTTON, JR., Notary Public, duly
commissioned and qualihed in and for
the city, parish and state aforesaid,
therein residing, and in the presence of
the witnesses hereinafter named and
! undersigned, personally came and ap-
peared the several persons whose names
! are hereuntO subscribed, who declared
that, awaiting 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-
I latiOns following, tO-wit:
ARTICLE L. The name and style of
this corporation shall be MARINE LUM-
/ Der 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 may here
after be granted by law to corporations
| of the same kind and character. and
under said corporate name it 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 10 make all necessary
rules and regulations for its corporate
management and control
! ARTICLE IL The dOmicile of this
corporation shall be in the City of New
| Orleans, Parish of Orleans, State OF
Louisiana. and citation and other legal
I shall In thA
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 il 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 a 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
|
| 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 (s6O0000),
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 $50 100000; said stock
shall be issued only for cash or in pay
ment of property actually received by
this corporation, or services actually
rendered to it; 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 as soon as fifty per cent
OF its 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, so 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 for
the benefit of those stockholders who
may desire to purchase the same, through
the Board Of Directors. for 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-
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 to
the stockholders, in writing, through the
Secretary Of the corporation, and each
Of the said stockholders shall be entitled
to purchase such proportion of the stock
so offered for sale as the number of
shares owned by him bears to the num-
Der of shares owned by all other stock
holders desiring to participate in the
purchase. NO sale under foreclosure,
pledge or hypothecation shall be validly
made until the foregoing requirements
have been complied with by the person
or persons, hrm or corporation provok-
ing such foreclosure or sale And no
stock shall be transferred on the books
or this company to anyone other than
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 this
corporation shall be vested in and be
exercised by board of not less than
three nor more than seven directors. as
Determined In advance each year by the
the number of directors is more than
three, three directors shall at all times
constitute quorum. Every director
shall be bona fide stakeholder and shall
ut all times own one full paid, IMPLIED ged
share OF stock. The first Board of Direc-
Tors snail consist of w. v. Easton, 6O1
lanai Commercial Building. New Orleans.
La; y. ID. Jackson, $40 Godchaux Build
Ing New Orleans. La; NJ. w. Grundy,
6ol Canal-Commercial Building. New Or
leans. La; NJ. NJ. Baker, 55i5 Magazine
street. New Orleans, La; August Krae.
mer. SIG N. Rocheblave avenue, New
The officers Of the corporation shall
consist OF a President. one or more Vice |
rresideDts. Secretary and a Treasurer |
The hrst officers Of the corporation are
as follows: W. v. EastoD, who shall be |
PRESIDENT: o. ID. Jackson who shall he
vice President: NJ. w. Grundy. who shall
be Secretary; NJ. NJ Baker who shall he |
Treasurer wa" '"aii oe
The above Board of Directors shall
hoid ofnce until the first annual meet.
ing In December, 1922, or until their suc.
cessors are electd and qualified. Each
sueceeding board shall continue to hold |
oInce Tor one year, or until their sue |
eessors are elected and qualified. The |
persons TO be hereafter elected directors
ior subsequent years shall select from
their own number the officers q, tha
corporation. The Board of Directors NAV
rom time to time, and as the business
OF the corporation may dictate, combine
any Two or the above officers in one and |
me same person, giving to the Combined
bination. INC eom-
In the second week OF Decemhe- .,
each year the stockholders shall eIect a
poara OF directors for the ensuing wear