The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-06
CHARTER.

rate any of them. anu lor elect any other
such officers as the board may think
proper or convenient to the carving on
of the company's business, and to provide
that said officers need not be members
of the board or stockholders: and the
board shall fix the salaries of the OIL
GERS, agents and employees. At any meet
ing of the board of directors. any direc-
tor absent from the meeting may be re-
presented by any other director who may
cast the vote of the absent director ac-
cOrding to the written Instructions. either
general or special. of said absent director.
The board of directors shall have author
ity to make and establish, as we'll As alter
and amend, all bylaws rules and regula-
tons necessary and proper for the sup
port and management of the business and
affairs of this corporation and not inCOn-
SiStent with this charter: and they shall
have power to authorize the borrowing OF
money and the issuance of notes and the
execution of pledges and mortgages. and
generally to do all things necessary or
convenient for the proper carrying on of
the business of the corporation.
Until a general meeting Of the stock
holders for election of directors TO be held
in 1923, or until their duly qualified sue
cesSors are elected and installed, the board
Of directors shall be composed of the fol
lowing John y. Stewart. $50 Union street.
New Orleans. La; Andrew Stewart. $50
Union street. New Orleans. La. William
i. Stewart, S}6 Union street. New Orleans
Stewart. shall be president: Andrew Stew
art. vice-preSident and treasurer and viii
liam u. Stewart, secretary.
ARTICLE VII-ThiS act Of Incorporation
may be changed. modified or amended. or
the corporation dissolved by a vote Of
twO-thirdS of the entire capital stock
present or represented at a general meet
ing of the stockholders convened for such
purpose, after previous notice shall have
| been given in the manner above provided
TO be- given of the annual meeting of the
corporation.
ARTICLE Wilt this corporation shall
~ dissolved. either by limitation or from
any other cause, its affairs shall be liqui-
dated by three commissioners to be ap-
pointed at the meeting of stockholders
convened for the purpose of liquidation.
and TO be elected by the vote Of all the
stockholders voting upon a parity. said
| jquidatOrS shall remain in Office until
| the affairs of the corporation shall have
been fully settled and liqudated. and they
| shall have full power and authority to
! transfer and give title to all the property
| and assets Of the corporation and to dis
| tribute the proceeds. In case Of death,
disability or resignation of one liquida-
| tor. the vacancy shall be filled by the sur
| ViyOr.
ARTICLE IX-No stakeholder shall
ever be held liable or responsible for the
contracts or faults of said corporation in
any further sum than the unpaid balance
| due on the shares Of stock owned by him.
| nor shall any mere infOrmality in Organl-
| cation have the effect of rendering this
| charter null or OF exposing any stock
holder to any liability beyond the unpaid
balance due on his stock.
| In order that this charter may serve as
| the original subscription list. the sub
Scribers hereto have indicated opposite
| their respective signatures the number of
shares of stock subscribed for by each of
them.
The subscriptions to the capital stock
of this corporation have been paid by the
transfer and conveyance to the corpora
! ton Of the assets and liabilities Of Stew
art Bros Cotton Company and Stewart
Bros. & Company, of the City Of New Or
! leans. as the same are shown in detail
upon the books of said firms. which books
are incorporated herein by reference. Said
assets have been appraised by the direc-
tors of Stewart Bros. Cotton CO., Inc. as
having a net value in excess OF all liabili-
| ties assumed OF more than one million
100000 O0) dollars.
Thus done ana passed at my nOtarial
office in the City of New Orleans. State
| of Louisiana. on the day, month and year
| first hereinabOve written. in the presence
of W W. McWhan and Fl. J. Dutel. COM
petent witnesses, who have hereuntO sub
! scribed their names together with me.
| notary. and the said appearers, after due
reading of the whole.
ORIGINAL SIGNED):
| Names OF subscribers omitted.)
| Witnesses: w. w. NEWMAN. III. J. Du-
| tel.
(SeaD: WATTS X. LEyERICH.
Notary Public
| Iupa Auy