The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-26
CHARTER.

] money. mike ana ISSUE HoltS anu bbHuN.
make contracts; receive grants of land,
or of personal property; and make and
use a corporate seal, the same to alter
or break at pleasure; but tn" failur" 10
have seal shall not invalidate any of
the acts or proceedings of this corpora
ton: name and appoint such managers.
directors. officers, clerks and employees
and agents as the interest and convenience
| of said corporation may require; and
through its Board Of Directors make and
establish such bylaws, rules and regu-
lations for the proper management and
| regulation of the affairs of said corpora
ton may be necessary. and the same
To alter aud change at pleasure. and
shall possess all the rights. powers and
privileges to which corporations are or
may be by any general law or laws of
this State authorized and entitled to
possess. Said corporation may exercise
| its corporate powers within any other
! State or territory in the United States or
foreign cOuRtry that shall permit the
/ same.
/ ARTICLE V.-The capital stock Of this
corporation is hereby fixed at the sum of
| Four Hundred Thousand and 90 100
/ (SiOOWOOO) Dollars, represented by four
/ thousand $4,000 shares of One Hundred
| and O0/1O0 (S1OO.O0) Dollars, each.
All stock subscribed for shall be pay
| able at such times and on such terms and
/ conditions as the Board of Directors may
from time to time fix and determine in
| each particular case or by general resOlu-
1 tlOn. or tnt bOdEu OF iblFttlOTS may ISSUE
! certificates Of paid up stock in payment
of property or goods actually delivered to
this corporation or for services actually
| rendered to il. or for rights, privileges or
franchises transferred to it, the valua-
ton in each instance to be agreed to by
the Board of Directors, which shall have
full and final power to do so.
Said capital stock may be increased to
the sum of One Million Dollars $1,000
OOOOO) in the manner provided for by the
| IaNr of 10 Statn an
Of said capital stock shall have been
authorized or unsOld stock issued fifteen
days written or printed notice shall be
given to each stakeholder within which
time persons holding stock in this cor
poration shall have the right to subscribe
for said increased stock additions.
issue Of stock in proportion to the number
of shares of stock then held by them, and
which additional shares shall be paid for
as the Board of Directors may direct.
After the expiration of said time the
Board of Directors may dispose Of the
shares not taken. for the benefit of the
Company in such manner and on such
terms and conditions as they may think
proper.
Dividends shall be declared on the
amount actually credited on the capital
stock without regard to the amount sub
scribed for.
Dividends ACQUIRING to stockholders who
owe any portion of any stock subscribed
for by them shall be credited to such un-
of all stock subscribed for by such stock
holders shall be paid in full. Such credit
Of dividends shall not in any manner
relieve such stockholders from the pay
ment of calls on such subscription. but
the credit of such dividends shall be ia
excess of the calls on such subscription
to stock. Interest at the rate OF eight
per centum per 2nnum shall be charged
| on the unpaid portion of calls on stock
subscribed for from the maturity of each
call.
If any installment or installments o.
stock subscribed for should not be paid
within thirty days after the same shall
| become due such stock and the subscrip-
ton thereto, together with all installments
paid thereon, may be forfeited to the Com
pany by resolution of the Board of Direc-
tors, without further notice or proceed
ings; or the Board of Directors may hold
the subscriber to said stock personally
| responsible therefor and take legal pro-
ceedngs to collect the installment or in
| staNmentS due thereon.
The Company shall begin operation as
soon as two thousand (20O0) shares of
the capital stock are subscribed for or
disposed Of.
At ali elections by or meetings of the
stockholders. each share of stock whether
paid for in full not shall be entitled
to one vote. to be cast either by the
person in whose name the stock appears
on the books of this corporation at the
time of the voting or by his agent or
proxy. duly authorized in writing to that
effect
An transfers of stock shall be made
on the books of the corporation and shall
be signed by the stakeholder or by his
attorney.
ARTICLE VI-The business and affairs
; and corporate powers of this corporation
, shall be transacted by a Board of Direc-
tors composed of not less than three di-
| rectors nor more than seven directors.
to he composed OF stockholders OF
this corporation owning at least ten nO)
I i al GfA K
holders NAV at any annual meeting elect
less than seven directors and the direc-
tors thus elected may prior to the next
annual meeting elect one or more ad-
ditionaI members of the board of directors
! so as to make the board Of directors
not more than seven. The directors
whether elected by the stockholders or
, by the board of directors shall be elected
. by n majority of the votes at n meet
ing of the stockholders or Of the direc-
tors, as the case may be. :,
A majority of the members OF said
, / Board of Directors shall constitute q
; Quorum for the transaction and manage
ment of all business of said corporation
Lester F. Alexander OF New Orleans, Lou
3 isiana. as President. John l.. Dickey OF
: New Orleans. Louisiana, as Vice-Presi'
nix of New Orleans. Louisiana. shall con:
stitute the first Board Of Directors and
: they shall hold office until the second
: Tuesday in January 1923 or until theil
successors are cleCleu
r subsequent Board shall take their seat
: Immediately following their election, o.
| as soon thereafter as practicable, an'
' shall hold their office until their sue
' cessors shall have been elected and quail
r fed. oo
h On the second Tuesday in january 192
O and annually thereafter an election 10
g Directors by the stockholders shall b
q held at the office of the Company afte
e fifteen days printed or written motto
n shall have been mailed to each stockholde
r or subscriber to stock at their respectiv
y addresses appearing on the books OF tn
" Company Every Board Of Director
n shall at its first meeting after its cleo
,r ton. or as soon thereafter as practicable
!: elect a President, Vice President; and
Is Secretary who may or may not be a men
le Der of the Board. as the Board may d.
r. termine Or the Board may elect an
IL other officer TO the position OF Secretar,
The Board may also select one or mol
" Assistant Secretaries who may or ma
he not he members of the Board and graz
them such authority as the Board ma
~ deem wise.
e; failure to elect Directors on the da
II. above specified shall not dissolve the co
nd porstion, but the then existing Board
nd Directors shall continue to hold their Q