The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-06
CHARTER

Robert X. Long as Vice President, Henry
S. Turner as Secretary Treasurer. The
election of the Board OF Directors shall
| be preceded by three days notice to the
| stockholders, delivered in person or sent
by mail to the address given in the cur
rent city directory, unless the address
OF such stakeholder shall have been reg
istered with the Secretary, and in de-
fault OF either, care of General Delivery.
New Orleans. La. The election shall be
held at the office OF the corporation at
such hour as may be fixed by the in
cumbent Board OF Directors and under
the supervision of three 90 commits
sioners appointed by the same AT such
election each stakeholder shall be entitled
to one vote for each share of the capital
stock held by him, and the persons re-
ceiving the highest number OF votes cast
at 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 a
quorum, and directors absent or unable
| to attend may authorize directors present
| to represent them by written proxy. filed
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
1 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 it
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 49, mem
| bers OF the Board, which committee shall
/ be empowered to exercise all the func-
| tons of the Board of Directors during
| the recess of this Board, save those
herein reserved for the full Board. The
Board of Director shall I'LL 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
a meeting called for that purpose, or in
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 shall elect from among their
| number one or more liquidatOrs, and fix
the terms, conditions and other provi-
1 SiOns regarding the liquidation as well
| as the compensation Of the liquidators.
| ARTICLE VIII. No stakeholder shall
ever be held liable or responsible for
| the contracts or faults Of this corpor-
paid balance due this corporation on the
shares owned by him, nor shall any
| mere infOrmality in the organization have
| the effect of rendering this charter null
or Of exposing the stockholders to any
| liability beyond the unpaid balance.
ARTICLE IX. 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 V OF
! this charter, and twenty-four hours will
where otherwise prescribed by law. Amy
| and all notices required by law or by
| this charter may be waived by unani-
nous consent OF the Board OF Directors
and such waiver shall be entered on the
minutes Of the meeting to which they
apply.
| Thus done and passed in my notarial
office in the city of New Orleans. state
| of Louisiana, on the date aforesaid, in
the presence Of John Dart and Henry
| Grady Price, competent witnesses, who
have hereunto signed their names with
the said parties, and they have set out
| their addresses and the number Of shares
held by them, and me. Notary. after
4
shares, Biloxi. Miss; Robert r. Long,
by d. j.; Gay, So shares, Atmore. Ala. !;
Edward G. Gay. by d. ]. Gay, 8 shares
New Orleans, La; Benjamin W. Dart
| 81 shares New Orleans, La; Willoughby
A. Cox, 80 shares. New Orleans. La.
| Witnesses:
JOHN DART.
HENRY GRADY PRICE.
HENRY p. DART, JR,
| Notary Public.
| 1 hereby certify that this is a true and
correct copy Of the act of Incorporation
Of Producers Sales Company, Inc. passed
| before me on the 9th day of May, 1922,
the original of which is on file in my
notarial office.
HENRY P. DART, JR,
| Notary Public.
State of Louisiana, Parish Of Orleans,
city OF New Orleans Before me, the
and appeared Daniel J. Gay and Henry
5. Turner who, being duly SWORD by
me. depose and say:
cOrporators Of the Producers Sales Com
pany, Inc. That the entire Twenty five
Thousand Dollars 25,OOOOOl capital
stock of said corporation has been sub
| scribed for and paid By the incorpor-
atOrs OF said company as follows:
Daniel j. Gay, postoffce Biloxi, Miss.
so shares, Of which he has paid in cash
for so shares. $5O00.OO, and has agreed
L
date hereof.
Robert r. Long postofice Atmore, Ala
SO shares, of which he has paid in cash
for so shares, or S5,OOO.0O. and has agreed
to pay the balance within one year from
date hereof.
Edward C. Gay, postofice Biloxi. Miss.
8 shares, for which he has paid in cash
| $4,000.
Henry S. Turner. postofice New Or
leans, La. l share, for which he has paid
in cash $4,000.
Benjamin w. Dart, postoface New Or
leans, La. 81 shares, for which he has
paid $4,000 in cash.
! Willoughby A. Cox, postoffice New
| Orleans, La, 80 shares. for which he has
paid for 20 shares, 100000 in cash, and
| for the balance he has agreed to pay the
same within one year from date hereof.
The appearers further declare that
there has been paid In cash more than
80 per cent of the subscribed capital
| stock.
Original signed: Daniel J. Gay, Henry
| s. Turner.
Sworn to and. subscribed before me.
Notary, this 9th day of May. 1922
| HENRY p. DART, JR..
Notary Public.
| A true and correct copy:
| HENRY p. DART, JR..
Notary Public.
| June July