The herald., 1922-03-02
CHARTER.
CHARTER OF
PORTER CLOTHING co. IN


wear of our Lord 'one thousand hine the
5rsd and twenty-five (lv22), ana "a 'n ~
Independence OF the Cnlteu fortv-
America. the one hundred anu fEI
aI,h before me, WATTS h. LE
sStnI,,u Notary Public, duly comiLiS
iinned and qualified in and Tor the ,harain
~ Orleans, State OF Loulslaha' ~ VIII
residiug. and in the presence Va nnder-
nesses hereinafter nalheu rnaared the
signed. personally came anu apPea here
serai inersous whose names are ~
,,nto subscribed, who decldreu 'ns t ste
- themselves of the laws VI 'nIo 80
relative to the orgahlZa,trodH and agreed,
,tanS they have cOyenanted anu t'raa
tio'S, NV these presents covenant, asASe'
md form and constitute t.i.aaftsr
xysI as such persons as Li3 -, into
iniu or become assOclateu VIZ Iavr for
= corpoTation or body pOAuc III a. The
arierts and purposes ana uhueL
~ and stipulations lolio"iNe
to-wit: m, naua and title OF
~. raruoration shall be the TN -
"a 4oTIIINI; CO. INC, ana uhueI -
arS,arate name it shall ENJOY sucee Ss,,,'1
for the full term and PeFlUu VI - hore
nine wears from and AFTER tne 'tbority
and shall have power anu il,',.an;
o. 'Iract SUI. and be sued, 10 a 1891
IA receive mortgages, pIeuscs Va cor
LvnotnecatiOns; to make anu - and
I1F,te seal and the same 10 rnc.iy1s
PStr at Measure; to purchase -
49,; hold or otherwise acquire anu -
lease hoIu a. mortgage and hypOthecate
nnder its corporate name i'orrow
rsaI persohal and mlAeu' 70 and
nay and make and issue oonus, -
hVhes rideuces of debt, and 10 secute
- sam, by mortgage ana otneLw -
Subscribe to and hold STOCK III raissue
norations; to acquire, hOiu anu ont
shares of its capital stocA, ~ herein
ali of the objects ana PURPOSES SINGH
az cot ont: to name and appoint SUI SUI
1nenagers and directors, Olncef ii,,. an" If
accents as the interest anu CON- nd To
lid corporation may requle L. and
ST. and establish, as we'll as amer an
lhaA 40 Measure such bylaws, rules
and regulations for the mans ndrnora.
regulation of the affairs OF the ' o. can
ZION as may be necessary PiOHr s,cb acts
nnisnt. and generally TO do all sucn az. a
"a things as trading corporations az
antborized to do under the laws VI '"'
state of Louisiana. ..,, -, this cor
ARTICLE III. The domlciie Oh lhls a.
,oration shall be in the Parish Oh
tbeans State of Louisiana, ana all citali .'n5
r o,ber legal process shall De ser'eu
upon the President OF the eonpanS
an his absence, upon the oecreti ,ur.
ARTICLE Ill The objects anu P
An ~ which this corporation Is organ
PNaS and the nature of the business w
he carried on by it, are hereby t I'll
10 he: TO buy, sell and deal IN, AT ootn
wholesale and retail, ,,,;norH neckwear,
Sosiery. gloves, fancy goods Jewen
furs and mems. womens anu cnu a,-
furnishings, novelties and wearing ap
parel of all sorts, ana al and de.
scrintIon and all other sorts OF dry goous
and merchandise, furniture ana lul"as nd
;ngs for personal and household use an. !,
adornment, including All sueh ALT in
mercbandise as are or may De ues' ~
hy denartment stores; TO BUY anu SCI
drv goods and to manufacture anu ser
as customs tailors wearing appaa tSa
men. women and children, TO cohu ' nioth
business of general dry goods anu cIotn
ING merchants, tailOrs, diapers, naoeI'
dashers milliners, dressmakers anu 81
rraI out6tters; to carry on tne s,naan,
mercantile business OF a hid
store. 10 buy sell, construct, lease, hoIu
develop and improve real estate anu
hniIdinps and improvements thereon Vi
ali sorts; to buy, sell, acquire anu NV
stocks, bonds, obligations anu sey ,I II r..,
of other corporations; 10 puy; sen az
deoI in stocks and bonds, and 10 carry
on n general investment business; 10 eA.
change its entire capital stock or any Pat'
thereof for property when IL Is autnVi
ized to acquire; 90 exchange It's entry
assats and business or any part thereof
FOR property stocks or other obligations
of other companies, firms or lhuNluua1
10 carry on all operations ana 90 an
things incidental TO or cohNenlehs noa tnc
purposes and generally to 90 an sucn
acts and things as a general tracing COT,
poration under the laws OF the State VI
Louisiana is or may be au'hoT TIE c ~
stock of this corporation is hereby nxeo
at Two Hundred Thousand Dollars Wv.
OOOOO) divided into and represented py
seven hundred and fifty Uool shaIes ~
fifty (125O) shares of common stock, al
OF the par value of One Hundred Dollar,
$1,000 per share. The preferred stoc.
may be increased to the SUN Isloo OF aoo oo,
and the common stock may be increased
TO q similar figure.
Section 2 The capital stock, both pre-
ferred and common, shall be represenIe'
by certificates, shall be full paid and, non
assessabfe when issued, shall be issue
only for labor done or for property act
ually received, or for cash TO De palu
such times and In such amounts am
by the Board of Directors, and shall D
personal property. No transfer OF SAL
capital stock shall be binding upon thl
corporation unless made In accordahe
with its charter and bylaws ana recoro
ed on the books thereof.
Section g. The holders OF preferre
stock shall be entitled to receive dN
dend at the rate of, but never exceedlnt
seven ca per cent per annum, cumu1s
tive from and after February list, l9Z
payable out of the net profits of the com
pany on the first day OF February an
the first day of August OF each year o.
mon stock. Should the net profits fo
any year be insufficient to pay said pr
ferred dividend therefor, or any pal
thereof, any unpaid portion thereof sha
become a charge against the net prom
of the company and shall be paid In III
out of said net profits before any div
dend Is paid upon the common stock. IN
preferred stock shall never participate
the profits of the company beyond II
fixed preferential cumulative annual div
dend Of seven (7) per cent, but shall I
paid In full up to its capital or par yalu
plus accrued and unpaid dividends,
any. at the rate of seven ca per cent ps
annum, before any amount shall be di
tributed among the owners of the con
mon stock, in the event Of any liquid;
ton or dissolution or distribution of Il
. assets of the company, and shall not pa
ticipate further in the distribution Of Il
assets OF the company.
Section 4. The preferred stock sha
have no voting power whatever. and a
matters relating to the corporation, II
Guiding amendments TO Its charter, II
crease or decrease Of its capital stoc
dncluding increase or decrease of I'll
preferred stock, dissolution or liquids
porate matters shall be decided upon b
the holders of the common stock excl,
sively. the rights Of the preferred stool
holders being Limited to the return
the money invested by them with cunt
lative dividends thereon at the rate
seven "a per cent per annum. in the mar
ner Sc. forth in this charter.
Section 8. The entire issue Of seve
hundred and fifty (750) shares of pre-
ferred stock authorized by this charte
shall be known as Series A. and all ou
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