The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-13
CHARTER.

in the presence of the witnesses herein.
after named and undersigned. personally
came and appeared, the several persons
OF the full age of majority, whose names
are hereuntO subscribed, who declared
that availing themselves of the laws OF
this state in such cases made and pro.
Vided they do hereby constitute them
selves, their associates, successors and as
signs, corporation for the objects and
purposes, and under the conditions and
StipulatiOnS, contained in the following
articles, which they hereby adopt as their
charter, tO-wit:
ARTICLE Ii. The name and title of
said corporation shall be New Orleans
Sugar Clearing Association, Inc.
,. Its period of duration shall be nine
~ nine years from this date.
3. Said corporation shall have for the
purposes of the business to be carried ON
by II, all the powers conferred by law
upon corporations, and shall generally
exercise all the powers necessary TO carry
ON said business. Said corporation shall
nave Iull power TO contract, sue, and be
sued In its corporate name; to make and
| use corporate seal, and the same TO
] break or alter at pleasure; TO hold, re
cel'e, purchase, rent, or otherwise ac-
qulre, ana TO convey, mortgage, hypOthe-
cate, lease, sell, pledge, or otherwise dis
pose OF property, real personal and
mixed; To issue bonds, notes, or other oh
legations; TO name and employ such
hanaSerS, directors, officers, agents, and
other employees, as the interest anu CON
venlcnce OF the corporation may require;
and to make and establish such by laws.
rules, and regulations for the management
ana control OF the business and affairs OF
the corporation as may be deemed neccs-
sary or proper.
ARTICLE Ill. The domicile of the
corporation shall be in the City OF New
Orleans, State of Louisiana.
=. All citations and other legal pro-
cess shall be served on the president, and
IN case OF his absence or disability upon
the secretary treasurer.
ARTICLE III-The objects and pur-
poses of this corporation and the nature
OF the business to be carried on by il, are
hereby declared TO be to purchase and sell
sugar for future delivery and the acqui-
SitiOn by purchase or otherwise OF con
tracts made in accordance with the by
laws, rules and regulations of the Louis
lana Sugar x Rice Exchange, for the pur-
chase and sale of sugar for future de
nNery, aud the assumption of the Oblga-
lions arising hereunder; the settling. adj
JuStlnS and clearing for compensation of
such contracts; the buying. selling. re-
ceiving carrying, storing and delivering
of sugar, but only in connection with the
foregoing purposes; the protecting of the
corporation against loss in its business 10y
establishing a guaranty fund to be raised
ny contributions by and assessments upon
stockholders, as may be prescribed by its !
t.! laws; and generally TO do all things
incidental To or in any way appertainiug !
to the above purposes.
ARTICLE w. The authorized capt. |
tai stock of this corporation is hereby /
nAed at eight thousand dollars ($S,OOOUUD |
divided into sixteen tl6) shares of the par |
value of five hundred dollars (SJ00UOJ !
per share.
=. Fifty per cent (JO9o) of said amount /
shall be subscribed before .he filing of |
these articles of incorporation and fifty |
per cent (JOfc) of said subscribed stock
shall be paid in before the corporation
engages in business. and the remainder
shall be paid in within twelve months
thereafter.
The remainder of said authorized capt
al stock shall be paid for whenever sub
,CTibed at such times and in suCn manner
Is the board of directors may determine.
). The capital stock may be increased
20 twenty-five thousand dollars tS2J,-
10000.
ARTICLE VI. The business and AT
airs OF TINS corporation snail be managed
~ board of seven directors VINO snail
De elected their terms respectively eX-
IRE, Ior a period OF three years; that Is
ne successors of the Two directors pre-
emily named in this charter to serve Tor
me year, snail be elected at the annual !
meeting in 1923 tor terms OF three years !
ne successors OF the two directors pres !
ntly named in this charter TO serve Tor
w years shall be elected at the annual
Meeting in 1874 for terms OF three years | !
nd the successors OF the three directors !
PRESENTLY named in this charter 10 serve !
OF three years, shall De elected at the an .,
ual meeting IN 1879 to seve Tor terms "a
nree years.
The annual meeting of this corporation =
nall be held OH the nrst Monday OF April n
1 each year. should the said annual :
leetIng fail on holiday, then saiu meet a
AZ snail be held ON the next succeeding :
ay. the iirst annual meeting shall be n
cad on the nrst Monday OF April, 1913. h
=. The officers OF this corporation shall {
Onsist OF president, Nlce-president, o
Iii secretary treasurer, who need not y
{ a stOckhoIder or member or director, /,
nd which office may be divided into tnat $
secretary and treasurer; and the stock s.
Olders or directors may elect such Otner (
IIccrs they deem proper. il
3. Immediately, or as soon as practi- q
IDle after each annual election, the di- u
,ctors shall elect from their own num-
n, the president and the vice president, p
nj shY.ll also elect the secretary treas =
rer. al
4. The names and post office addresses %
the first board of directors are Iol- a!
ws: Bishop Z. Perkins, 2U3 \. Peters u
Z, to serve three l3J years; Lewis y.
lerck, 2v3 " Peters St., to serve three p,
years Emile A. Rainold, 30l y. Front IL
10, to serve three ~ years; Philip h. ca
alice, pa Decatur ST., to serve two % b.
airs; Charles +. Fenner, SIS Gravier ST., lie
serve two 90 years; JOhn Bertoniere, pl
~ Whitney Bldg, to serve one % year; to
IS. {. LeBourgeOis, 1918 CarOndeet Bldg, Is
serve OHt w sedE n. hdluOlu, | ~
all be president; Charles 4. Fenner 81
all be vice-president; and John j. Shee or
N, New Orleans, La, shall be secretary &c
pI
Said officers and directors shall hold 10
ice until their successors are elected vi
d qualified and the failure to hold the pt
nual meeting and elect directors, shall y.
affect this cooperation nor impair its OF
inagement in any respect, but the di- su
ctOrs and officers in ogice shall con- m
hair al. TOD
}. All vacancies in the board Of direc- an
IS may be filled for the unexpired term Sc
the remaining directors. W
5. The board of directors may make, 70
lend or repeal all by laws, rules or in
sulations, which they deem proper, for st,
= regulation of the corporation. All lal
nsactions between the corporation and fo
stockholders shall be conducted in ac- an
-dance with such bylaws and shall be 70
,med to have been entered into subject | no
all the provisions thereof. to
Z All elections by the stockholders an
all be by ballot, at the office of the CO.
npany, in accordance with such regula- alb
Ms AS the board of directors may de-
mine, and at every such election and co
all meetings of the stockholders, each an
are of stock shall be entitled to one hu
<, 10 De cast Oy the registered owner lar
by his agent or representative by writ eol
proxy. ~
ARTICLE VII. This act of incorpor-
on may be modified, changed or al
ed, or said corporation may be dis 1eI
we'd, with the assent of twO-thirds of lar
capital stock outstanding at a meet IL"
of the stock holders convened for tha-