The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-27
CHARTER.

templated by the charter. This corpora
e ton shall conduct its business in Other
States and in the territories and in for
2 eign countries, and have one office oil
| more; and may hold, purchase, mortgage
/ and convey real and personal property
: either in or out Of the State of Louisiana
. without in any particular limiting any
of the objects and powers of the corpora
J ton. IL hereby expressly declared and
provided that the corporation shall have
; the power to issue bonds and other Obli-
cations, in payment for property pur-
| chased or acquired by it, or for any other
object in or about its business: TO mort
gage or pledge any stock, bond or other
obligations by il issued incurred, 70
guarantee any dividends or bonds or con
tracts or other obligations; to make and
perform contracts Of any kind and de-
, ScriptiOu: and in carrying on its business,
or for the purpose of attaining or further
ing any Of the objects. 10 do any and all
other acts and things: and To exercise
any and all powers which a COpartnership
or NATURAL person could do and exercise,
and which now or hereafter may be au-
thOriZed by law.
ARTICLE III-The capital stock Of the
said corporation shall be 100000, divided
into and represented by 30 shares Of the
I sum of $4,000 each. which said stock
shall be paid in cash at the time Of sub
scriptiOn, or the same may be issued, at
not less than par. in payment or exchange
for property or rights actually received or
purchased by said corporation, or the
same may be issued, fully paid. for money
/ advanced. and for such valuable consid-
| Grafton or services as the board OF direC-
/ tors of said corporation may determine.
4 provided that no stock shall be issued
until the consideration therefor has been
received by the said corporation.
All shares of stock when issued shall
be signed by the President and the Sec
rotary Of the corporation. No shares of
capital stock shall be transferred except
upon the books of the corporation and
until the certificate of the shares to be
Z transferred shall have been delivered to
the corporation Tor satisfactory proof of
its loss or destruction, according to law.
and duly cancelled.
This corporation shall commence doing
business as soon as fifty (JO'cJ per cent
Of the capital stock shall have been sub
scribed for.
The board of directors shall have the
right to determine how much stock shall
be issued.
office addresses of the incOrpOratOrs and
the number of shares Of stock for which
Severally and respectively We do hereby
subscribe. are as follows:
Maurice Whitehead. New Orleans, La.
- shares; VI. p. McNeely. New orleans.
La. Is shares; Morris p. LeCOmpte. New
Orleans, La, shares; W. z. Brown, New
Orleans, La, shares.
All the corporate powers of this cor
pOratiOn shall be vested in and exercised
by Board Of Directors. The board shall
consist of four directors, Il majority of
whom shall constitute a quorum for trans
acting all business. The Board Of Direc-
tors shall be vested with full power and
authority to make all contracts. purchases
and sales, and adopt all bylaws, rules
and regulations for the government Of
the business and affairs of the company,
and alter, amend and change the same
at pleasure; appoint, hire and discharge
all officers, agents and employees, fix all
salaries, and generally do and perform
"A fra inn
Of the business and affairs Of the COM
pany. Any vacancy occurring in the said
board shall be filled by the remaining
directors from among the stockholders.
The first Board Of Directors of this
corporation shall consist of: Maurice
Whitehead, president; NJ. p. McNeely,
vice president; Morris p. LeCOmpte, sec
rotary treasurer. and W. 2. Brown, who
shall hold their offices until the first
Monday in January. 1923, or until their |
successors are duly elected and qualified. |
On the first Monday in January. 1928 |
and annually thereafter, an election fer
directors shall be held at the office OF
the company, under the supervision of /,
three CD commissioners to be appointed /
by the president, and the directors then |
elected shall take their seats immediately !
and shall hold office until their successors |
are duly elected and qualified. Each board ]
shall elect its own officers, which shall 1
consist Of a president. vice president and /
secretary treasurer. All corporate cleo |
tons shall be by ballot. and a majority /
or the votes cast shall elect, either in per
son or by proxy. Written notice of cleo /
lions shall be given to each stakeholder
by the secretary treasurer at least ten
(lO) days prior to election.
ARTICLE V-This act of incorporation
may be changed, modified. or amended
or the capital stock may be increased b.
and with the consent OF two-thirds (2-3)
or the stockholders. change in the OBJ
Jects and purposes may be made only by
a vote OF all the stockholders: but this
corporation may be dissolved by a vote
OF the holders of two-thirds C2-3) of the
stock at a meeting called for that pur-
pose.
ARTICLE VI-whenever this corpora
tion Is dissolved. either by limitation OF
its charter. or from any cause its affairs
shall be liquidated by three 81 liduida-
tors to be appointed from among the
holders of the stock at the meeting con-
Vened Tor that purpose after ten (10) days
prior notice shall have been given by the
to each stakeholder Said COM |
miSsfoners shall remain in office until the
affairs of said corporation shall have
Deen fully iquidated. In case of the
death OF any commissioner the survivors
shall continue TO act.
ARTICLE VINO stakeholder of this
corporation shall ever be held liable or
responsible for the contracts Of faults
thereof in any further sum than the un-
paid balance due to the corporation on
the shares owned by him. nor shall anv
mere informality in organization have the
e.ect OF rendering this charter null. nor
OF exposing n stakeholder TO any liability
oeyond the amount OF his stock
mus done and passed in my nOtarial
offlce In the city of New Orleans, La,
aforesaid. in the presence Of Anna Rer
oeusse and Verlie Bertrand. competent
witnesses OF lawful age and residing in
this city, who hereuntO subscribed their
names, together with said parties and me,
notary, on the day and date set forth in
the caption hereof
- Maurice Whitehead, ". p McNeely. W
r. brown Morris p. LeCompte.
Witnesses: Anna Berbeusse verIia pa-
trand. DeA
BENZ. W. HERMAN.
rr,r =, Notary Public.