The herald., 1922-01-05
CHARTER.

The Board of Directors shall be elected
annually on the first Tuesday of Decem-
Der after notice of such election, so TO
be held, will have been given by two
weekly publications in n newspaper pub
lished in the Parish Of Orleans, and after
a written notice by the Secretary, given
TO each stakeholder, shall have been
mailed to him at least fifteen (1JD days
previous to such meeting, except that the
first Board OF Directors of this corpora
ton shall be composed of Jos. l.. Swanson,
President: John McGraw, Sr., Nice-PreSi-
dent; and FOrres McGraw, Secretary
Treasurer. who shall hold their office
until tn, first annual election to be held
on the first Tuesday of December, 49,.
cor until their successors shall have been
elected and shall have actually assumed
their duties
Two members Of the Board of Directors
shall constitute a quorum for the trans
action of business.
All elections for directors shall be held
at the office Of the corporation and shall
be by ballot. under the superintendent
of two commissioners to be appointed. for
that purpose. by the Board of Directors,
whether they be stockholders or not.
Zach share OF stock shall he entitled To
one vote and shall be east by the owner
OF same, either in person or by written
proxy, and a majority OF the votes shall
eleCT.
The failure to elect Board of Direc.
tors will not affect this charter, but the
directors in office shall continue in the
exercise of their duties until their sue
cessOrs shall have been elected and shall
have taken their places, in which event an
election for directors shall be held on
such subsequent day as may be fixed by
the Board of Directors for that purpose.
it being hereby made the duty of tn.
President of said Board and of the Vice
President and Secretary Treasurer TO calI
the said meeting to be held within hfteeL
DAYS after such failure to elect.
All vacancies occurring in said Board,
by resignation or other wise, shall be
filled by the remaining directors.
The Board of Directors shall have the
power and authority to make and eS-
tablish, as well as alter and amend, any
and all bylaws rules and regulations
that may be requisite for the government,
support ami management of the business
and affairs of said corporation. and il
shall have power and authority to con- |
tract debts, borrow money and issue notes
in representation of same, and to issue
bonds, and, generally to do all things |
incidental to the objects and purposes of
said corporation.
ARTICLE VI-Whenever this corpora |
ton is dissolved Wiener by limitation
or for any other cause, its affairs shall
be liquidated under the superintendent |
of two commissioners to be appointed for |
that purpose by the stockholders, at
general meeting to be held and convened |
for that purpose, after ten days notice |
through mail. Said commissioners shall
remain in office until the affairs of said |
corporation shall have been fully |
liquidated and settled, and in the event |
of the death of one of said commissioners,
the survivor shall fill the vacancy. Their |
compensation is hereby fixed at two and
one-half per cent. on the amount realized
by them.
ARTICLE vIII.This act of incorpora-
ton may be changed, modified or altered. /
10 ingrpl
make the capital stock not to exceed the
sum of Twenty Thousand (S20,OOOOO) /
Dollars, or said corporation may be dis
solved by the assent of two-thirds in
amount of the capital stock at meeting
of the stockholders convened for such
purpose by the Board of Directors after
thirty days previous notice of such meet
ing shall have been published in a news
paper in the Parish of Orleans, and after
all the other formalities of lawn shall
have been complied with.
ARTICLE VIII.-No stakeholder shall
ever be held liable or responsible fer
in any further sum than the unpaid
balance due to the corporation on the
shares of stock owned by him, nor shall
any mere infOrmaity in organizing this
have the effect of rendering
this charter null and of exposing stock
holder to any liability beyond the amount
due on his stock.
ARTICLE IX-In order that this act
Of incorporation may serve as the original
list of said corporation, all
subscribers hereto have written opposi'a
their respective names the number OF
shares and the amount Of stock sub
scribed for by each of them, as well as
their addresses. and the recordation of
this act shall be considered as the recor-
iation of the list of shareholders required
by law.
Thus done and passed at the City of
New Orleans. in the Parish of Orleans,
State of Louisiana, on the day and In
the month and year first above written,
in the presence of W. W. Wright and
Isabella Rice. both of lawful age and ;
residing in said Parish and State, CONF
Detent witnesses who have signed these
presents with the said appearers and me,
Notary. after due reading of the whole. |
Witnesses: W. W. Wright Isabella
Rice.
(Signed) Jos. l.. Swanson, 2310 Milan
Street. New Orleans. La, 10 shares: John
IcGraw. 1929 Sycamore Street, New Or
cans La. ] share; Forces McGraw, 2f29
Soniat Street. New Orleans, La. shares.
JOHN ID. NIX, JR..
Notary Public. [
A true copy:
JOHN ID. NIX, JR.. 4;
Notary Public.