The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-14
CHARTER.


purchase. lease, donation, exchange or
otherwise, and to hold, operate, sell,
or cucumber property. real,
personal or mixed. of every kind and
description and particularly rice mills,
cold-storage plants, pumping stations.
lands warehouses and the appurte-
nances thereof, or such other plants or
machinery as may be necessary for the
market of rice or by-products of any
kind or articles made or developed
from the rice plant of any part thereof,
or any other food products; to obtain a
certificate or certificates as public
warehouSeman, and to carry on bust
ness as such: to buy or otherwise ac-
Quire and to sell or ALLEVIATE sacks,
Irvine or other merchandise connected
with or used in the handling of the
business herein;
To acquire by purchase or otherwise
and to hold for investment or other
wise, to sell. assign, transfer. mortgage
pledge or otherwise dispose of, bonds
or other securities or evidence of in
debtedness or any shares of capital
stock of any other corporation or cor
porations, association or associations,
whether foreign or domestic, and while
the owner of said stock, to exercise all
the rights. powers and privileges of
ownership. including the right to vote
thereon to the same extent as natural
person might do.
And generally to do and perform and
carry on any and all business in any
manner connected with, germane or in
cidetanl to any one or all of the fore
going objects and purposes.
The foregoing clauses shall be con-
strsed both as objects and powers, but
no recitation, expressed or declaration
of specific OF special powers of purposes
herein enumerated shall be construed
as exclusive; but ii is hereby express
ly declared that all other lawful powers
not inconsistent Herewith. and such as
a natural person might have or exercise
are hereby included.
this corporation is hereby declared 70
be one hundred thousand (Sl0O,0O0.OO)
dollars, divided into one thousand
Il ,000) shares of the par value of one
hundred (sl00.0O) dollars each, all OF
which shall be common stock and shall
be paid for either in cash, for labor
done. or for money or property actually
received.
The capital stock of this corporation
may be increased from time to time 10
any amount not exceeding two hundred
and fifty thousand (S25O. 000.0O) dol
lars, in accordance with the provisions
of law appertaining thereto.
The shares of stock OF this corpora
ton shall be transferable on the books
of the corporation only and no transfer
shall be binding on the corporation or
have any effect unless and until made
upon said books.
y N-All Oh the pO"clS VI
this corporation shall be vested in and
exercised by a board of directors com
posed of not less than three and no,
more than five shareholders majority
of whom shall constitute quorum FOL
the transaction of all business. A ma
jority of the board of directors voting
at any time shall be required to pass
any resolution or adopt any bylaws
when so passed, shall become valid cor
porate acts. ,
The first board Of directors who shall
hold office until the second Tuesday II
September 1923, the date of the annua
meeting of the corporation as hereih
after fixed, shall consist OF: Charie:
f. Cormier, who shall be president, AZ:
Lowerline Street, New Orleans, La
Philip E. Vallee, who shall be vice
president 72O Broadway Street, Ne"
Orleans, La; William E. Patterson
st. Andrew Street, New Orleans. La; J
o. Broussard. Beaumont, Texas.
The board of directors, except a:
hereinabove provided for shall be elect
ed annually at general meeting .
the stockholders to be held on I'M
second Tuesday in September, 1928, am
on the same date and month in each an'
every succeeding year thereafter, atte
| fifteen days notice in writing mailed q
each shareholder at his last known al
dress appearing upon the BOOKS OF IN
corpora ton, unless said notice is waive'
| in writing by all the shareholders ap
pearing as such upon the books.
| Special meetings of shareholders ma,
always be called by the board OF dlrec
| tors. subject to the formalitieS as I
| notice or waiver of notice as herein
above provided in regard to genera
| meetings. .
A failure, however. from any caus
whatsoever, to hold the annual rneetlh
| OF stockholders, or the failure to cleo
| directors thereat. shall not operate IN
| forfeiture of this charter. nor impai
| it's corporate management but the OIL
rectors then in office shall remain
| office and shall serve until their sue
cessors have been duly elected. quail
! fled and installed. ~,
Any vacancy in the board OF direC
tors. from any cause whatsoever snd
remaining directors. And the SAID poar
Of directors shall have power ana AT
thority to make all necessary rules an
| regulations for the operation ana cor
| troll of the business of the corporatioi
as well as TO make, alter ana ameho d
necessary rules and bylaws.
ARTICLE vI-This act of incorpors
tion may be changed, altered or amend
ed, or this corporation may De oiss3 21az
by and with the assent OF the holdeI
Of two-thirds in amount of its then Ell
tire outstanding stock, at geners
meeting convened for that purpos
after thirty 600 days no tice IN VIII
ing mailed to each shareholder "a:
known address, and after fifteen az
days' publication in one Of the dali
newsnaners in the City of New VI
leans. and as prescribed by law:
Whenever this corporation is dissolve
by Limitation or otherwise, its af1ali
shall be liauidated under the super,
sion of three commissioners, TO
elected at a general meeting OF shar'
holders convened for that purpose, a!t'
notice as above provided for In IN
article. and they shall remain In o1tlC
until the affairs of the corporate
shall have been fully liquidated; and
case of the death or disability 10 a
of one or more of the said liquidator
time TO act. under the provisions AZ
in accordance with the terms OF Sc
ton 80 of Act 267 of 1914.
ARTICLE VII-No shareholder
this corporation shall ever be he
liable or responsible for the contrac
or faults of this corporation in al
further sum than the unpaid balan
dine upon the shares of stock owned
, | him: nor shall any informality In u
! organization have the eject OF rende
ing this charter null or exposing al
shareholder to any liability beyond Il
unpaid balance due upon his stock, n
: shall any informality or irregularity,
organization have the erect or renue
ing any shareholder liable as a partne
ARTICLE VIII-The subscribe
hereto have respectively written opp
site their names, the amount OF sto
in this corporation subscribed Tor
y each of them, together with their po
5 office addresses. so that this act or ]
y corporation shall serve as an origin
, subscription list n.
mier. declared that whereas he has I
9 many yearse past been conducting bu'
e ness in the City of New Orleans, as