The herald., 1922-06-22
CHARTER.

to one vote for each share of the capital
stock held by him, and the persons re-
ceiving the highest number of votes cast
Pat said election shall be declared elected,
and the Board of Directors thus elected
shall meet and organize as soon after
said election as possible. majority
of the whole Board shall constitute
! quorum, and directors absent or unable
to attend may authorize directors present
| to represent them by written proxy, hled
with the Secretary, and with all the
powers such absentees could exercise II
| present in person.
All routine business matters shall be
! decided by the majority vote of the
| quorum present at such meeting, not
withstanding anything in this charter or
| the law to the contrary; but any matter
or thing affecting the general policy
property or corporate rights of the cor
! poratiOn shall be adopted only by the
| vote of the majority of stock held by
! the Individual members of the whole
| Board OF Directors, and proper minute
| entries shall be made to show these facts.
The Board Of Directors may establish
/ bylaws, rules and regulations for the
| government of the corporation, and II
| may also create committees for the man
| agement of the several departments Of
| its business including an Executive Com
mittee of not less than three go mem
bers of the Board, which committee SHAH
| be empowered to exercise all the func-
| lions of the Board of Directors during
the recess of this Board, save those
herein reserved for the full Board. The
! Board of Directors shall fill vacancies
occurring in this body during the term
thereof. Meetings of the Board of Direc-
tors may be held at such times as shall
be set by the Board itself, or at the
| call of the President and at the request
| of any two stockholders.
| ARTICLE VI. This charter may be
amended and the capital stock increased
and decreased with the consent Of two
thirds of all of its stock expressed at
| ffns aaIIa Cd
any other way permitted by law.
ARTICLE VII. This charter may be
! dissolved with the consent of two-thirds
of the issued and outstanding capital
stock expressed at a meeting called for
that purpose, or in any way permitted
by law. Upon the dissolution of the cor
pOratiOn by Limitation or otherwise the
stockholders shah elect from among their
number one or more liquidatOrs, and fix
the terms, conditions and other provi-
sions regarding the liquidation well
as the compensation of the liquidators.
ARTICLE VIII, No stakeholder shall
ever be held liable or responsible fol-
the contracts or faults of this corpOr-
alton in any further sum than the un-
paid balance due this corporation on the
shares owned by him, nor shall any
the effect of rendering this charter null
or of exposing the stockholders to any
liability beyond the unpaid balance.
ARTICLE IN. Wherever notice is re-
quired by law or by this charter, the
same may be given in writing, deliv'
cred in person or sent to the last known
address, as is prescribed in Article OF
this charter. and twenty-fOur hours viii
be sufficient for all purposes, except
where otherwise prescribed by law. Any
and all notices required by law or by
this charter may be waived by unani-
nous consent of the Board Of Directors
or the stockholders, as the case may be
and such waiver shall be entered on the
minutes of the meeting to which they
apply.
Thus done and passed in my notaria
office in the city Of New Orleans, state
of Louisiana, on the date aforesaid, II
the presence of John Dart and Henry
Grady Price, competent witnesses, who
have hereuntO signed their names with
their addresses and the number Of shares
held by them, and me. Notary, after
, reading of the whole.
Original signed; Daniel J. Gay, s.
: by ID. J.. Gay, 50 shares. Atmore. Ala.
Edward c. Gay, by ID. J. Gay, shares
Biloxi, Miss; Henry S. Turner, 1 share
New Orleans, La; Benjamin u W; Dart IT
r A. Cox, 80 shares. New Orleans. La.
Witnesses:
: JOHN DART.
' HENRY GRADY PRICE.
HENRY z. DART, JR.,
] Notary Public.
hereby certify that this is a true anC
correct copy of the act of incorporation
Of Producers Sales Company, Inc, passe,
the original of which is on file in m
D notarial office.
/ HENRY p. DART, JR..
n Notary Public.
!, State Of Louisiana, Parish OF Orleans
. City Of New Orleans. Before me, tn
! undersigned authority, personally, cam
!, and appeared Daniel ]. Gay and Henr
;. S. Turner. who, being duly sworn b.
l. NE, depoSe and say:
That they are two of the original in
: corporators of the Producers Sales Com
pany, Inc. That the entire Twenty nv
! Thousand Dollars (S25, 100000 capita
i stock of said corporation has been sub
G scribed for and paid By the incorpor
:, ators Of said company as follows:
: Daniel ]. Gay, postoffce Biloxi. Miss
so shares, of which he has paid in cas-
n for 80 shares, $5000.O0, and has agree
to pay the balance within one year fror
n date hereof.
4 Robert X. Long postoffce Atmore, Ala
: So shares, of which he has paid in cas-
r for so shares, or $5,0OO.0O, and has agree
!, to pay the balance within one year fror
I Edward C. Gay, postoffce Biloxi. Miss
o 9 shares, for which he has paid in cas-
4 Henry S. Turner, postsffce New Or
; in cash $4,000.
: Benjamin W. Dart, postoffce New Or
v leans, La. 81 shares, for which he ha
: paid $4,000 in cash.
Willoughby A. Cox, postoffce Ne'
Orleans. La, 80 shares, for which he ha
Il paid for 20 shares, 100000 in cash, an
e for the balance he has agreed to pay tn
s same within one year from date hereo
The appearers further declare tha
u there has been paid in cash more tina
so per cent Of the subscribed capt.;
y stock.
p Original signed: Daniel J. Gay, Henri
l. S. Turner.
e Sworn to and subscribed before M
e Notary, this 9th day of May, 1922.
II HENRY z. DART, JR.
Il Notary Public.
., A true and correct copy:
: HENRY Z. DART, JR..
Notary Public.
Is June July 6