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

cease. Said redemption shall be proper
tiOnate to the holdings of all of the out
standing preferred stock. Should any
preferred stockholder fail to present for
retirement IN whole or in part the out
standing certificate of stock, the shares
so redeemed shall be cancelled on the
for the owner, subject to his order, on
presentation and surrender of the out
standing certificate.
In the event of the dissolution or
value OF all the preferred stock legally
issued and outstanding shall be paid 10
the holders thereof in full, with all I'M
paid dividends, before any payment shall
be made on the common stock.
The common stock legally issued and
outstanding shall be entitled TO dividends
as and when and to the extent declared
by the Board Of Directors out of the net
profits or earned surplus after tn" pay
ment of the agreed dividends on the pre-
fcrred stock, and after the setting aside
Of such amount as may be required for
the retirement of any preferred stock as
may be decided by the Board of Direc-
tors.
In the event OF the dissolution or liqui-
daticn of the corporation, after the pay.
ment of the debts of the corporation and
the payment in full Of the par value of
all the preferred stock legally issued and
dends thereon. the remainder of the
assets of the corporation shall belong TO
and be paid and delivered to the holders
of the common stock.
Each share of the capital stock legally
issued and outstanding, both preferred
and common. shall be entitled to one
vote in all elections and at all meetings
Of the stockholders, to be cast by the
registered holder thereof or his duly con-
stituted agent or proxy.
This corporation may increase or de-
crease its capital stock in the manner
prescribed BY law. The preferred cap
ital stock may be increased to One Hun
dred Thousand Dollars $500 100000. The
common capital stock may be increased
to Two Hundred Thousand Dollars
$500, O0OO0).
The Board of Directors may at any
time issue any unsubscribed stock upon
payment therefor in accordance with law
TO such person or persons as the Board
may deem proper.
No transfer Of stock shall be binding
on this corporation unless made upon its
books by the surrender of the OutStand-
ing certificate properly endorsed by the
registered owner or by his duly consti
tuted agent or legal representative, and
in accordance with such rules and regu-
lations as the Board of Directors may
prescribe.
ARTICLE VII. The business and af-
fairs of the corporation shall he managed
by a Board of five (5) directors, who
shall be elected by the stockholders at
the annual meeting. which shall be held
OH the SetOHu lhOHudN VI VI
each year. Each of the directors shall
own at least one share Of stock in his
own name. The first annual meeting shall
be held on the second Monday of Sep
TENDER. 1923, until which time the Off
GERS and directors named in this charter
| shall continue to act. and until their
successors are elected and qualified. All
vacancies in the Board Of Directors may
| Any director may be represented at any
meeting of the Board by any other direc-
| tor or stakeholder by written proxy.
Immediately, or as soon as practicable,
after their own election the directors
elected by the stockholders shall elect
from among their own number a Presi-
dent. a Vice president, and Secretary
Treasurer. The failure to hold the annual
] affect this corporation nor impair its
management, but the directors in office
shall continue until their successors are
| elected and qualified.
The officers of this corporation shall
consist of a President. a VicePresident
and Secretary Treasurer. but the stock
holders or the directors may elect sucf
| other officers and agents as they may
deem proper.
The first Board Of Directors and officers
of this corporation and their postoffic'
addresses are as follows:
Lee Flonacher. No. 1860 DufOssat street
| New Orleans, La, President; Sol. Strauss
No. 1898 Magazine St, New Orleans, La.
| Vice President. j. Wilbur Stewart. No. al
Marengo St. New Orleans. Ia: Secretary
Treasurer, Abe Enrich. No. rs Canal st
New Orleans, La: Director, Ike Finkel
stein, No. 314 Chartres ST., New Orleans
La. Director.
The Board of Directors may at any tim
increase their number to not more thai
seven.
The office Of the Secretary Treasure
may at any time be divided nv the stock
holders or by the Board of Directors. int
that of Secretary and Treasure, and II
such event. the Secretary need not he
member of the Board. The Board of Di
rectors may make. amend. and repeal al
bylaws, rules and regulations for tn
conduct of the corporation.
All elections by the stockholders shall
be by ballot at the office of the Compan!
in accordance with such regulations as tn
Board of Directors may determine: and a
every such election: and at all meetings o
the stockholders. each registered share o
the stock shall be entitled to one vote 4
be cast sy the registered owner or hi
agent or representative by written proxy
| ARTICLE VIII.-This act of incopora
ton may be modified. changed or altered
or said corporation may be dissolved will
the assent Of two-thirds Of the capita
stock outstanding Mt meeting OF tn
stockholders convened for that purpose
and after fifteen 15) days written motto
has been delivered in person or given b!
letter mailed to the last known address
Of each stakeholder. The said notice ma!
all the stockholders.
In case of the dissolution Of the cor
pOration it's affairs shall he liquidated b!
one or more liquidators elected by ma
jOrity vote OF the stockholders with sucl
powers, compensations and duties as tn
atbok olders NAV determine
| ARTICLE IX.No stakeholder shall eve
be held liable for the faults or contract
Of this corporation in any further sum thai
the unpaid balance due to the corporation
on the shares subscribed by him. nor shall
any mere informality have the effect o
rendering the charter null or Of exposing
any stakeholder to any liability beyon'
the unpaid balance due on his stock.
ARTICLE X-The subscribers hereto hav
respectfully written opposite their name
the amount of stock subscribed by then
in this corporation so that this act Of in
corporation may also serve as the origina
subscription list Of the corporation, an
they have stated their postoffice addresses
so as TO conform with Act 267 Of 1914.
Thus done and passed at my Office 4
, the City Of New Orleans, State of Louisi
ana. on the day. month and year herein
first above written, in the presence q
: Louis Rosen and r. f. Whitehead, comp'
, tent witnesses of the full age OF majorit
and residing in this City. who have here
| unto signed their names with said appear
, ers and me, Notary, after due reading c
: tho whole.
Il (Original sipned:) Lee Flonacher, 81
. Charities St. New Orleans. La. 372 share
preferred 6SS shares Of common stock
Sol Strauss. 3033 Magazine St. New 81
leans. La, 40 shares preferred stock, IL
? shares common stock: Abe Ehrich. II
, Canal St. New Orleans. La. 20 shares pre-