The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-23
CHARTER.

TINS corporation is hereby declared 10
be the sum of Fifty Thousand Dollars
(S50.0OO.O0l, divided into five hundred
I (5OOl shares of One Hundred Dollars
(SlOOOO) each, and the amount of each
share shall be paid for in accordance
with law. The capital stock of this
corporation may be subsequently in
creased to One Hundred Thousand Dol.
lars (Sl00. OO000).
Full paid capital stock of this corpor
alton may be issued in settlement o.
services and things of value actually
acquired by the corporation when same
shall first have, been appraised by the
Board of Directors OF the corporation, as
provided by law.
As the capital stock OF this corpora
ton subscribed for is to be paid for by
the conveyance to the corporation OF
merchandise and other articles of value,
there Is annexed to these articles of in
corporation to be read in connection
Herewith. an accurate, detailed and item
lied description or such property as To
amount. location. extent character and
state of Improvement, together with
statement Of its value appraised by
| the Board Of Directors of this corpor-
alton.
ARTICLE V. The corporate powers of
this corporation shall be vested in
Board of Directors TO be composed OF
three directors, two of whom shall con
stitute quorum for the transaction of
business, to be elected by the stOckhOld
ers at general meeting to be held on
year; provided. that there shall be no
such election in the year 1922.
At all meetings for the elections Of
| this corporation, each stakeholder shall
| I've entitled TO one vote for each share
| of stock standing in his name on the
| books of the company, which vote shall
| be cast in person or by proxy.
The Board of Directors shall have the
| power to make all bylaws, rules and reg
ulations necessary for the conduct of the
| business affairs of said corporation; and
! they shall elect from their number a
| President, Vice President, and Secretary
| Treasurer.
Until the election to be held as here
inabOye provided, the following shall con-
| stitute the first Board of Directors: Geo
| l.. DucrOs. Robert DucroS and Sidney j.
| Ducros, with George l.. DucrOs as Pres
| ident, Robert DucrOs as Vice-President.
and Sidney j. Ducros as Secretary
| Treasurer.
ARTICLE vi. The capital stock of
| this corporation may be increased or de-
| creased at any time in accordance with
| the laws of this State. This charter may
| be amended altered or modified, OF the
| corporation dissolved by a vote of two
| thirds of the stockholders, voting by
| shares at a meeting convened for that
| purpose, after fifteen days previous per.
| sonal notice, or such notice that may be
required by law, of such meeting shall
have been given.
| corporation shall ever be held liable for
any of the Indebtedness. contracts or
| faults thereof, in any further sum than
the unpaid balance due the corporation
| on the shares owned by him, nor shall
any informality in the organization have
| the effect of rendering this charter null
or of exposing a shareholder to any liza
| bility whatever.
ARTICLE VIII. A failure at any time
to hold a meeting or elect directors or
| officers as herein provided, shall not work
| forfeiture of this charter or dissolve
| the corporation, but the existing Board
| Of Directors and officers shall continue
| in office until their successors in office
have been elected.
| ARTICLE TX. At the expiration of
| this charter, unless sooner dissolved, its
affairs shall be liquidated by one or more
| commissioners to be appointed by the
| stockholders in meeting, assembled for
| that purpose, and who are invested with
| full power to sell all the assets and prop
erty, real and personal Of this corpora
ton, and to convey full and complete
| title thereto, and to do and perform all
acts essential to a full and complete liq.
uidation of the affairs of this corporation,
and to divide the proceeds, if any, in
| accordance with law.
Thus done and passed at my office in
| the City Of New Orleans, Louisiana, on
the day and in the month and year first
herenabove written, in the presence OF
| Muriel Saxon and Rene A. Viosca, CON-
petent witnesses, whose names are here
unto subscribed as such, together with
the said appearers and me, Notary, after
reading of the whole.
| Names of subscribers omitted)
| Witnesses:
RENE A. VIOSCA,
| MURIEL SAXON.
| EDw. HASPEL.
| Notary Public.
I. the undersigned Recorder of Mort
cages in and for the Parish Of Orleans
State of Louisiana, do hereby certify
that the above and foregoing act of in
corporation of the SOUTHERN TILL
CO., INC. was this day recorded in my
office in book 1893, folio -.
New Orleans, Jan. 20, 1922.
(Signed) ROBT. SCOTT,
Deputy Recorder.
True Copy.
EDw. HASPEL,
Notary Public.
Jan. 90 Mch. 2