The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-03
CHARTER.

exchange. acquire by grant, gift or pur.
chase' devise or beQuest, sell ALLEVIATE dis
pose of. convey, lease, pledge. pawn hy-
| pOthecate. cucumber or mortgage pro
| perry OF any kind, whether real. personal
or mixed, corporeal or incorporeal, NOV
aoie. or immovable, all subject to such
limitations as may be prescribed nv law
IL may make, issue and endorse bonds or
notes and other evidences of debt II
may accept mortgages, pledges or other
other debts. 1t may contract, sue and be
sued, plead or be implicated by its cor
porate name in any court Of competent
JURISDICTION nla 1t may make, adopt and
use corporate seal and alter or break
the same ut pleasure. 1t may hold stock
In other corporations, and its capital
STOCK may be issued for capital stock of
other corporations. 1t may name appoint
and employ such managers directors Of
ncers, agents and other employees as
It's interests, business and convenience
may require, and may fix their compensa-
ton, having due regard to the nature
character and value of their service. II
may make and establish bylaws, rules
ana regulations not Inconsistent with this
charter or any existing law, fixing or al
tering the management of its property, the
regulation and government of its affairs
and the manner of the certiication and
registration of its stock. 1t may wind
up ana dissolve itself, or be wound up
and dissolved in the manner prescribed
by law. 1t may conduct business in this
state. other states, the Federal Districts
the Territories and possessions of the
United states and any foreign country. 1t
shall have the power to invest its board
or directors with all of its corporate
powers, subject to such restrictions as
may be named in this charter. And il
generally shall have and possess all the
powers, rights, privileges, and immunities
which corporations are and may hereafter
be authorized to have and possess under
the Constitution and the laws of the
"a nd rff nIar np-
of the Acts of the General Assembly Of the
State OF Louisiana for the year 1914 and
the amendments thereto.
ARTICLE 1.-THE domicile of this cor
poration shall be the City of New Orleans.
Parish of Orleans, State of Louisiana and
all citations or other legal process shall
be served upon the president of this cor
poration or in case of his absence upon
the vice-president or in the absence of
both of these officers upon the secretary
or treasurer of this corporation.
ARTICLE III-The objects and pur-
poses for which this corporation is formed
and the nature of the business to be car
ried on by it hereby declared to be: To
trade and deal in or with, either for its
own account or as agent of others, all
kinds of real and personal property, but
particularly all kinds of mechanical appa-
ratus, machines and machinery, and parts
thereof, tools, supplies and utensils OF all
kinds, and similar articles of commerce
in wood. metal, earthenware or other ma
terial; to construct, weld. repair and
erect the same and to make castings and
forgings of all kinds; and generally to
carry on any other business which under
the law 1t may be entitled to carry on,
which may seem to the corporation to be
calculated. directly or Indirectly, to effect
the aforesaid objects and purposes or
either of them, or to facilitate the corpora
ton In the transaction of any other lawful
business that might be calculated. directly
enhance n n r
to render profitable any Of the corpora
tons property and rights; and generally
to hold and exercise all such incidental
powers and privileges and to do and per
form all things as relate to the objects
and purposes hereinaboye set forth, or as
may be needful. necessary, proper, useful
or convenient for effecting such objects
and purposes or either of them.
ARTICLE Iv-The authorized capital
stock of this corporation is hereby fixed
at and declared to be the sum of fifty
thousand t$50,00O.00) dollars, which capt.
tai stock may be increased in the manner
bred thousand (s1O0O00OO dollars.
The presently authorized capital stock
of this corporation shall consist of five
hundred $500 shares Of the par value of
one hundred ($1000O) dollars each; 1t
shall be represented by certificates, shall
be full paid and worcestershire when is
sued, shall be issued only for labor done
or for property actually received, or Tor
cash to be paid at such times and In such
amounts and after such notice as may be
by the board Of directors. and
shall be personal property. No transfer
Of said capital stock shall be binding upon
this corporation unless made in accord
ance with its charter and bylaws and re-
corded on the books thereof.
ARTICLE y-No stakeholder may sell,
assign or transfer his stock in this cor
poration without giving to the other
stockholders, through the secretary OF
In xxyrft ms Of
intention, and the other stockholders
shall have the right for a period Of thirty
days from the delivery of such notice 10
the secretary, to purchase all or any part
of the stock of such stakeholder for cash
at the book value thereof. after which
thirty days the said stock may be sold
without restriction.
Whenever the employment OF any stock |
holder by this corporation Is terminated.
either by death, resignation, dismissal,
lapse of time or otherwise, the other
shall have the right Tor
thirty days from the date OF such termi- |
nation to purchase all or any part OF the
stock Of such stakeholder for cash at the
book value thereof, after which thirty
days the said stock may be sold without
restriction.
Other stockholders desiring to purchase
stock under this article must in due time |
give notice of such desire to the secretary |
Of this corporation. In the event that the
other stockholders offer to buy more STOCK
than is offered for SALE stockholders oner-
ing to buy shall be entitled to puy sne !
offered stock in the ratio Of their own
then stock holdings in this corporation.
For the purposes Of this article, the book
value shall be determined by the hgures
as shown on the last financial statement
No sale or other transfer or assignment
Of stock In this corporation shall be valid
until and unless opportunity to purchase
such stock has first been given In the
manner hereinabove provided to the o.her
Of this Corporation; and this
right so vested in the other stockholders
shall follow into any hands into which IL
NAV pass any stock sold, transferred or
assigned without such opportunity being
given, and may be exercised against the
holder or holders thereof within ninety |
C9O) days after such stock is rendered Tor
transfer on the books of this corporation;
and no transfer of any such stock shah
be made on the books Of this corporation
during the tendency Of said ninety wv
day period.
ARTICLE vI-All the corporate powers
Of this corporation shall be vested IN ana
by a board of four "a directors,
each Of whom shall hold In his own name