The herald. [volume] (New Orleans, La.) 1905-1953, 1922-04-06
CHARTER.

may send their votes by letter, tne sig
nature of which must be acknowledged
before Notary Public OF other officer
authorized to take afhdavits.
ARTICLE V. All of the powers of
this corporation shall be vested In and
exercised by a Board Of Directors to be
composed of three stockholders, to DE
elected annually, on the third Monday
of January of each year, majority or
whom shall constitute a quorum for the
transaction of all business, and ma
jOrity of votes cast shall decide all ques-
lions Notice of the holding of such
elections and of all other meetings OF
the stockholders shall be given by de-
posting in the United States pOstOfhce
i'm New Orleans. Louisiana, not more
than fifteen and not less than three days
prior To the date of said meeting, no
tice of the holding thereof. enclosed in
post paid wrapper. addressed to each
stakeholder at the las: address furnished
to the company by said Stockholders. and
in the event no address ne furnished,
then simply New Orleans, La" At san
election and at all other meetings of
stockholders the voting shall be by
ballot. and each stakeholder shall be
entitled to one vote for each share of
stock standing in his name on the books
of The. company. to be east either in per
son or by proxy. The majority of all
stock actually voted shall decide all
questions except otherwise provided
by law or by this charter. The Board
of Directors shall. after each annual
election. elect from their own number a
President and Nice-President. and
shall also elect Secretary Treasurer.
who may or may not be member o.
the board of stockholders, and the board
shall have the right to ill, for the I'M
expired term, any vacancy occurring
among the directors or officers by resig-
nation or otherwise. The board may also
-.
treasurers as 1t may desire, who may or
may not be stockholders.
The board may delegate all or any OF
its powers in the transaction of the bus
mess of the corporation to committee
or committees of their own body or to
the officers and agents of this corpor-
alton, and may from time to time ap-
point such clerks, agents or other en-
plOyees, comforting upon such committee
or committees and such clerks, agents
and other employees such powers and
authority as IL may deem necessary and
proper for the purposes and business OF
this corporation: but all such clerks,
agents and other employees cannot be
employed for longer period than by
the month, unless the contract of EN-
ployment be in writing and be specially
authorized by resolution of the Board OF
Directors.
The board shall have the power to
adopt bylaws for the government of the
corporation, and TO alter, amend or
abolish the same at pleasure.
All notices provided by this charter
or bylaws, to be given to the stock
holders or directors, may be waived, ex-
cept where expressly prohibited by law.
The failure to hold an annual election
or TO elect officers as herein provided
shall not dissolve the corporation, but
the directors and or officers then in office
cessors shall have been elected and duly
qualified.
The first Board of Directors shall con-
sist of George ). Balmer, whose address
l. 436 South Scott Street, New Orleans,
La: Robert NJ. Townsend, whose address
is $40 Bordeaux Street, New Orleans, La. {;
Lawrence c. Daigre, whose address is
2130 Jena Street, New Orleans La, and
George ). Balmer shall be President.
Robert NJ. Townsend shall be Vice Presi-
dent, and Lawrence c. Daigre shall be
Secretary Treasurer. Said officers shall
hold office until the annual election on
the third Monday of January, 1873, or
until their successors are duly elected
and qualified.
ARTICLE vi. This act of incorpor-
alton may be modified, added to or
changed or said corporation may be dis
solved in the manner provided by law,
and whenever this corporation Is dis
solved either by limitation or otherwise
its affairs shall be liquidated by three
commissioners to be elected at a general
meeting called for the purpose of yot-
ing on the question of liquidation, and
in case of the death or resignation OF
any of said commissioners the surviving
or remaining commissioner or commits
si0ners shall continue to act and shall
I'LL the vacancy or vacancies caused by
death or resignation, and in case of the
death or resignation of all these. three
more commissioners shall be elected by
the stockholders.
ARTICLE VII. No stakeholder shall
ever be held liable or responsible for the
contracts or faults of this corporation
In any further sum than the unpaid bal
ance due the company on the shares Of
stock subscribed for by him, nor shall
any inf0rmality Of organization thereof
have the effect of rendering this charter
null or of exposing any stakeholder to
any liability beyond such unpaid balance
on said stock.
In order that this charter may also
serve as the original subscription list
required by law, the subscribers to this
lively written opposite their names the
amount Of capital stock subscribed for
by each of them.
No transfer Of the capital stock Of
this corporation or any part thereof shall
be binding upon this corporation unless
this corporation shall be entitled to treat
the holders of said stock as noted on
its books as the owners thereof.
Thus done and passed in my office In
the city Of New Orleans, on the day and
In the month and year first above writ
ten, In the presence Of William J. Hen
nessey and Jeanne Hatrel, competent
witnesses, who hereunto sign their names
with the said appearers and me, Notary.
after due reading Of the whole.
Original signed: Geo. 8. Balmer, sub
scribing to twenty COZ shares: Robt. NJ.
Townsend, subscribing to twenty (2O)
shares; l.. c. Daigre, subscribing to
twenty (20) shares.
Witnesses:
VIM. J. HENNESSEY,
j. HATREL.
FELIX ]. PUG,
Notary Public.
!, the undersigned Recorder of Mort
cages in and for the Parish Of Orleans,
State of Louisiana, do hereby certify
that the above and foregoing act of in
corporation of the PONTCHARTRAIN
TIMBER COMPANY, INC, was this day
duly recorded in my office in book 1888,
folio