The herald. [volume] (New Orleans, La.) 1905-1953, 1922-11-30
CHARTER.

bind and form and constitute themselves,
after join or become associated with them,
into corporation and body polite In
law, for the objects and purposes and
under the agreements and stipulations
following, to-wit:
ARTICLE THE name and style Of
this corporation shall be Pallet. Inc, and
under that name ii shall have and enjoy
all the rights, privileges and advantages
exist for the period of ninety nine years
from this day; 1t shall have the power to
contract, sue and be sued In Its corporate
name; to make and use a corporate seal;
and the same to break or alter at pleas
ure; to hold, receive. purchase, convey.
mortgage. hypothecate or pledge property,
both real and personal: to issue bonds,
notes and other obligations or negotiable
managers, directors, officers, agents and
other employees as the interest and con
venience of said corporation may require
or demand: to make and establish such
corporate management and control of the
affairs of the corporation as may be
deemed necessary and expedient.
ARTICLE 1.-THE domicile of said
City of New Orleans, State of Louisiana,
and all citations and other legal process
shall be served on the president; in his
absence on the vice-president; and in the
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 acquire, construct. own, lease
! and operate planning mills. saw mills,
| sash. door and blind factories; to buy.
sell and deal in, for its own account. or
on commission, logs lumber and other
building materials, and generally to en-
gage in and carry on any other business
or enterprise which may be germane or
incidental to. or connected with. the pur-
poses hereinabOve set forth or contem-
plated by this instrument.
ARTICLE Iv-The capital stock of this
corporation is fixed at the sum of fifteen
| thousand ($15.0O0.0O) dollars. divided into
one hundred and fifty shares of the pal
| value of one hundred dollars each. AL
shares of stock shall be full paid and
| non assessable. No transfer OF stock shall
| be binding upon the corporation unless
| made upon its books. and all certificates
| OF stock shall be signed by such Officers
as may be designated by the board OF
] directors.
| This corporation shall have the RICH
to increase it's capital stock to the furthel
| sum Of fifty thousand ($50,0O0.O0), to b.
| divided into shares of one hundred dollars
! each, provided said increases in the capt
tn! stock shall have been authorized by tn
| stockholders at meeting to be helC
pursuant to the provisions Of Articl,
VIII of this charter.
of the company shall be vested in anC
! the management and control of its affair
! shall be exercised by a board Of direc
tors composed Of three stockholders. tn
| membership of which may be increased t
| a number not exceeding five by the boart
of directors at any Of its regular meetings
! A majority Of the directors shall cOnsti
tute a quorum for the transaction of al
business. The directors shall be elected
annually by ballot on the third MOnda.
in October In each year. Each stock
holder shall be entitled. In person or b.
| proxy, to vote for every share owne'
by him and all elections shall be he'll
under such rules and regulations as ma,
be determined by the board of directors
after fifteen days notice by mail Of sue
election shall have been sent to each stock
holder at his last known address TIL
directors thus elected shall continue 1
Office for one year, or until their success
sOrs shall have been duly elected an
qualified. No failure to elect shall be re
garded forfeiture Of this chartel
Any vacancy occurring on said boar
shall be filed by the remaining director
for the unexpired term; the said boar
shall likewise elect the additional mem
bers in case they should determine to In
crease the number Of said board. Sal
? board shall have the right to appoint an
dismiss such clerks manager and otht
employees of the corporation as condition
) may justify or the business of the col
poratien may require. The tenure Of O.
{ flee Of all the employees of the corporatio
I, shall be during the pleasure Of the boar
, Of directors, Any of the directors or Q
fcers shall have the right to appoint. b
written instrument. another director
stakeholder to act as his proxy and in h
stead at any and all meetings Of the boar
. Of directors. Said board shall also ha'
the right to elect secretary who nee
! not be a director or stakeholder.
: ARTICLE VINO stakeholder shall ev
= be held liable for the contracts, faults
g c debts of said corporation. nor shall ar
sr.EA ~ 49, OF In n
= the effect Of rendering this charter nu
. or of exposing a stakeholder to any Ii
:. bility beyond the unpaid balance due
: the shares owned by him..
q ton may be changed. modified or alter
y or this corporation may be dissolved wi
3 the assent of the stockholders ownir
two-thirds Of all the stock Of the corp
: that purpose. and after at least ten day
;. written notice of this meeting has be-
q given through mail addressed to ea
/. share holder at his last known place
expiration of this charter or otherwi.
the stockholders shall elect three liquid
II tors from among their number to liqr
: date and settle the business and affairs
b ability Of any one of said commissions
J. or liquidators, the survivors Of the I
n naming liquidatOrs shall appoint su
e cessOr to him. The said liquidators sh;
We nave power TO Settie the Coupduy
b fairs. collect outstanding debts, and Z
h vided the remaining money and proper
q among the stockholders. They shall al
e have power to meet and act under the b
VI laws of the corporation and under reg
IS lations to be made by majority Of sa
J. liquidators; to fix the price and prescri
h the terms of sale Of said property. and {
n manner in which the sale shall be MAD
n and take notes and bonds secured
d mortgage and otherwise for part of t
purchase price for all or any part Of sa
N property, provided. however. that I
,e rights herein conferred upon the liquid
q tors may be modified, changed, or deni
in by n majority Of the shares Of the capt.
II stock of the corporation. The said liq'
ee dators shall have authority to sue for a
ID recover the debts and property In
J. name Of the corporation and may be su
y. in the same name. and they shall be lial
q in solidO to any creditor or stockhold
st for the monies and property of the CT
" poration which shall come to their han
y or possession as liquidators and for |
IN proper application and distribution thel
~ of.
IN ARTICLE VIII-The entire capi
D1 | .kooI - thfc cornorafiOn has bppQ Su