The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-19
CHARTER.

/ ldDOr done or property actually receive,
! by the corporation.
This corporation shall become a coins
/ concern and be authorized to do business
| a. soon IS all of its capital stock shall
Rave been subscribed and paid for.
The amount to which the capital stocl
81 taiS corporation may be incrna SCI
. shall be the sum of Five Hundred Thou
sand Dollars (S500OO0OO).
No stakeholder shall have the right q
sell or otherwise dispose of any stock
of this corporation without first offering
the same in writing to the Board OF
Directors of this corporation. through its
President. which Board shall have ten
ilOD days within which to accept or re-
fuse the offer. but said board of direc-
tors shall have the right TO purchase any
stock offered or any part thereof
at its book value irrespective of what
price may have been offered for said
stock by anyone. Should said board of
directors fail to avail itself of said
privilege within said period of time. the
said stock may be offered and sold to
any other person or persons.
ARTICLE Van of the corporate powers
ot this corporation shall be vested in
and exercised by a Board of Directors.
composed of five 90 stockholders, three
90 OF whom shall constitute quorum
said directors shall be elected annually
on the first Monday in March of each
year at general meeting of the stock
holders, except the first board of direr
tors appointed in this charter, who shall
hold their offices until the first Monday
IN March, 1923. or until their Successors
shall have BEN duly elected and qualified
All such elections shall be held by ballot
and conducted at the office of the cor
poration under the supervision OF two
~ commissioners to be appointed by the
board of directors. Notice Of such meet
inGS and Of all other stockholders meet
lnSS shall be given in the manner pre-
scribed by law. and when not so pre-
Srrlbrd, then written notice of such meet
inSS shall be designated ut least fifteen
ll') Gays prior TO the date of such meet
ing in the post office of the City Of
New Orleans, postage prepaid. properly
addressed to each stakeholder at his last
known residence or place of business
NJ all such elections and at all cor
p0rate meetings every stakeholder shall
he entitled to one vote for each share, of
stock standing in his name on the books
OF the corporation. To he cast by him i'm
I""Son or by his written proxy, and a
majority of the votes cast shall elect
Any vacancy or vacancies occurring
ton or otherwise. shall be filled by cleo
tion for the unexpired term by the re-
naming directors.
The failure TO elect directors on the day
above specified shall not dissolve the
corporation. nor impair its corporate OK
iStence or management. but the direc.
tors then in office shall remain in office
unit their successors are elected and
qualified.
The board of directors shall. annually.
~ lts hrSt meeting after election. elect
from its own number a President one or
more vice Presidents. a Secretary and n
reasnrer, or it may elect one person who
shah t' both Secretary and Treasurer. !
VINO need not be member of the board /
Of directors. The board of directors NAV
hlsp elect one or more assistant secre |
tarieS, neither of whom need be members
oI tne BOARD or stockholders in this cor
poratlOh. The board of directors shall /
nave power aid authority to name and I
appoint all such other officers. agents and /
employees as may be deemed necessary /
Tor the purposes and business of this |
corporation. Said board shall have power
and authority to fix the compensation and
define the duties Of every officer and ON
pl0yee. and all officers and EMPLOYEES
shall hold office and employment at the
pleasure of said board
SAID board may make and establish. as
wen as after and amend. any and all
Dy laws. rules and regulations necessary
ma proper in its Judgment for the con
luct, support and management Of the bust I
less and affairs of said corporation.
Al al meetings of said board Of direc-
ors' each director shall have the right
I" appoint from amongst the directors a
'roXy to act in his place and stead
The said board shall have full power
ma authority to borrow money, execute
Mortgages. and create liens to issue bonds
totes ond other obligations, and TO So
ure the same by mortgage pledge or
therwise; ana. generally. to exercise all
ne corporate powers and to do any and
ii things reasonable, convenient and nee
s>ary Tor the proper carrying on of the
uslness and affairs of said CORPORATION.
Sald board may issue full paid shares
I STOCK for cash or in payment of labor
one nnd performed for said corporation.
r property actually received by said cor
Grafton, upon complying with the formal
les required by law
AhIlCLE NI-Whenever this cornora- !
ION shall be dissolved either by limita-
on OF IRON any other cause. its affairs :
nail be lfquidated by two (2) commits {
toner's to be appointed from amongst the !
Iorkholders at general meeting of the !
Iockholders convened for such purpOse. .
No thirds in amount of the capital stock 1
salu corporation represented Mt such -.
eetlng shall be necessary to elect Said !
commissioners shall remain in office until I
~ amalrs OF said corporation shall be =
lily liquidated. In case of the death of =
ne or more of the commissioners. the
i,ay or vacancies shall be filled by
eiectlon by the surviving commissioners y
ild commissioners shall hold all powers =
'hIerred upon them by law or by the =
ockholders at such meeting IL NOT in. n
'nSiStent with law 1
ARTICLE Vino stakeholder shall
-er be held liable or Responsible for tha
faults or debts of said cornora d
Oh III any further sum than the unpaid ,
ilance, If any. due the corporation on -
e shares or stock owned by him. nor T
AN any mere informality in organiza- a.
IN have the effect of rendering this a
arter null or of exposing n STOCKHOLDERS 4"
any liability beyond the unpaid balance -
any, remaining due on his or her -
Ock " 'iei 81
ARTICLE VIII.-This Act Of Jucornora- u
IN may be changed modified or amended .,
the capital Stock of this CORPORATION 81
~ De increased or decreased. or said 81
rporation may be dissolved in the man -
now or hereafter provided nv Law -
AhIicLE lN.-The following shall CON :,
tute the first Board of Directors of This =,
rporation; Mr.; j. L. Onorato. New Or "
ms, La: Mr.. II. W. Wilmot New Or 49,
ms, La: Mr.. c. p Ellis. New Orleans q,
l.; Mr.. Hugh McCloskey. New Orleans. "a
l.; MIR. X. s. Hecht. New Orleans. Ia: ~
d the following shall he the Officers q,
me company: Mr.. J. l.. OnOrato. Presi ~
NJ Mr. X w. WilmOt. Vice President: m
u ar. H. [. Nomayer, Secretary and or
i ne subscribers to the capital stock Of
Id corporation and their respective od- %
esses are: J. l.. Onorato. 343 Caron- of
let Street. New Orleans. La, 3 shares a
L. Ellis. Hibernia Bank Building. New IN
ieans, La shares; Hugh McCloskey, OF
Magazine Street. New Orleans. la, NJ
shares; X. w. Wilmot. Hibernia Bank be
lIdlng. New Orleans. La, shares; r..
Hecht, Hibernia Bank Building, New ri
leans, La. . shares: J. l.. Onorato. ia
ustee: 343 Carondelet Street, New Or. co
ms. La. 20 shares ~ ~
ARTICLE X-The subscribers barato 81
We respectively written opposite their I'm
mes the amount of stock in this cor. or
ration subscribed for by each OF them ri,
That this act of incorporation NAV also ri,
We as the original substitution list of No
d corporation. ~