The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-20
OF OAXACt STEAMSHIP
COMPANY, INC.

COMPANY. INC.
! United States OF America, State of Louis
! lana, Parish of Orleans. city of New Or
| leans, BE it known, that on this sixteenth
day of the month of February, in the year
of our Lord. one thousand. nine hundred
aud twenty-tw and of the Independence
of the United States of America, the one
hundred and forty sixth; Before me
| Henry L. Dart, Jr., notary public, duly
commissioned and qualified. in and for
this city and the Parish of Orleans. there
in residing. and in the presence of the Wit
neSSes hereinafter named and under
signed. personally came and appeared. the
persons whose names are hercUnto sub
Scribed, who declared that availing them
selves Of the provisions Of the laws of the
State, relative to the organization of cor
pOratiOnS they have COvenanted and
agreed and do by these presents. covenant
and agree, bind, form and constitute
themselves well as such other persons
who may hereafter join or become assO-
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 OaXaca Steam
ship Company, Inc, and under this name
1t shall have and enjoy all the rights, ad-
yantages and privileges granted by law
TO corporations; it shall exist for a period
or ninety nine years, II shall nave power
to contract, sue and be sued in its cor
seal. and the same to break or alter at
pleasure to hold, receive, purchase. con-
vey, mortgage, hypOthecate, or pledge
property both real and personal: to issue
bonds, notes and other obligations; to
purchase, acquire and own stocks. bonds
and securities in other corporations; to
have and employ managers, directors.
Officers agents and other employees. as
the interests and convenience of said cor
poration may require; and to make and
establish such bylaws, rules and regu-
lations for the corporate management and
control of the affairs of said corporation.
as may be deemed necessary and expe-
dent.
ARTICLE 1.-THE dOmicile Of the said
corporation shall be in the City of New
Orleans. Parish of Orleans, State of
Louisiana, and citation and other legal
process shall be served on the president
and in his absence on the vice-president,
in case of the death of the president of
this corporation or in the event of his in
ability to act as SUCH his duties and func-
tions shall devolve upon and be fulfilled
by the vice-presdent.
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 it are hereby declared
to be: To construct, purchase, charter,
lease, hire, or otherwise acquire and to
man. equip, maintain and operate, steam
ships, steamboats,, tOwbOats, ferry boats,
sailing vessels. barges and other water
craft OF Whatever description for trans
portation and tOwage of freight and pas
sengers for hire and to engage in a gem
erA transportation business, upon and be-
tween places on rivers, lakes, bays and
other waters and upon the high seas. to
ports and places in foreign countries. and
carry on a general express business in
connection with the operation of said yes
sells; TO construct purchase, lease hire or
otherwise acquire warehouses, landing
places, canals, docks. wharves and other
facilities and to improve navigation on
rivers, bayOus and other waters. as the
business of the company may require; to
construct, hire, lease or otherwise acquire
and to operate dry docks and floating
docks, suitable for handling and repair
ing vessels, and to build and repair YES
sells of every description; to construct
purchase, hire, lease or otherwise acquire
and operate on land, omnibusses. automo-
biles. trucks, teams and vehicles of every
nature and description for the transpor-
tation OF freight and passengers, to and
from the landing places of the vessels
operated by said company, and such other
points as the board of directors may from
time to time determine TO be necessary
for the business of said company and
generally to do and perform all things
germaine and incident to, or usual in
the business and affairs hereinabove au-
thorized.
ARTICLE IV-The capital stock of this
is hereby fixed at the sum of
five thousand ($5,OOO.0O) dollars, divided
one hundred (s1OO.OO) dollars each. which
shares shall be paid for in cash. or in
the purchase or exchange Of property, and
the said capital stock may be increased
five thousand ($125 ,OOOOO) dollars. All
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. |
All stock in this corporation shall be
held upon condition precedent, and I'M
der contract and agreement in the nature |
or vested rights that all such stock Is SO |
held and possessed subject to the rules |
and provisions for the transfer of same |
hereinafter set out towit:
IN No sale or other transfer of shares |
IF stock in this corporation shall be valid |
first afforded the shareholders of record
II the date of such transfer, sale or other |
lilenation, to purchase such stocks at
book value. plus twenty-five per cent. the
value to be ascertained in the manner
herein prescribed. The right to acquire
said stock hereby first vested in the other
of record shall follow the
stock into any hands to which it may pass
md may be exercised against the holders
hereof within ninety days from the time
my sale or transfer has been offered to be
entered on the books of the corporation.
1t shall be the duty of any holder OF
tock in this corporation who intends or
iesires to sell, transfer, ALLEVIATE or other
wise dispose of the same to give ten
lays written notice of such intention or
iesire to the board of directors Of the cor
Doration, who are hereby constituted
gents of the other stockholders for the
purpose Of such notice, and said board
II directors shall give immediate inform
tion thereof, in writing, to all the other
of record. Before the ex-
'iration of the ten days from the receipt
II said notice by the board Of directors, |
my shareholder Of record, may offer to
purchase, and may acquire the right to
said stock by notifying the
'oard of directors in writing and there
fter shall deposit the price of said stock
n cash with the corporation on or before
he expiration of eighty days from the
asst mentioned date.
Upon the receipt of the first mentioned
Iotice. the board Of directors shall ad-
Use the person owning said stock, his
gent or representative, to join with said
oard in giving the value of said stock.
Which value shall be established on the
tatement or report of the corporation and
he last monthly trial balance preceding
he date of such notice, and the value
hus found and established shall consti-
lite the book-value of said stock.
IL within twenty -four hours after such
office to the owner his agent or repre-
does not join with the board in
the price or value OF the
took, the board may proceed without
lrther delay to fix the said value, us