The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-02
CHARTER.

money, make and issue notes and bonds
make contracts, receive grants Of land
or Of personal property: and make and
use Il corporate seal, the same to alter
or break at pleasure: but the failure TO
have a seal shall not inyalidate any of
the acts or proceedings of this corpora
ton: name and appoint such managers.
directors. officers, clerks and EMPLOYEES
and agents as the interest and convenience
of said corporation may require; and
through its Board Of Directors make and
establish such bylaws, rules and regu-
lationS for the proper management and
regulation of the affairs of said corpora
ton as may be necessary. and the same
to alter and change at pleasure and
shall possess all the rights. powers and
privileges To which corporations are or
may be by any general law or laws of
this State authorized and entitled to
possess Said corporation may exercise
it's corporate powers within any other
State or territory in the United States or
foreign country that shall permit the
same.
ARTICLE v.-The capital stock of this
corporation is hereby fixed at the sum of
Four Hundred Thousand and 90 100
tSiOOOOOOO) Dollars, represented by four
thousand $1,000 shares of One Hundred
and 200 ($100O0) Dollars. each.
All stock subscribed for shall be pay
able At such times and on such terms and
conditions as the Board of Directors may
from time to time fix and determine in
each particular case or by general resolu
ton. or the Board of Directors may issue
certificates of paid up stock in payment
of property or goods actually delivered to
this corporation or for services actually
rendered to IL, or for rights, privileges or
franchises transferred to it, the valua-
ton in each instance to be agreed to by
the Board of Directors (Which shall have
full and final power TO do so.
Said capital stock may be increased to
the sum of One Million Dollars $1,000
laws of this State. Whenever an Increase
of said capital stock shall have been
authorized or unsOld stock issued fifteen
days written or printed notice shall be
given to each stakeholder within which
time persons holding stock in this cor
poration shall have the right to subscribe
for said increased stock or additions.
issue of stock in proportion to the number
of shares of stock then held by them. and
which additional shares shall be paid for
as the Board of Directors may direct.
After the expiration of said time the
Board of Directors may dispose of the
shares not taken. for the benefit of the
Company in such manner and on such
terms and conditions as they may think
proper.
Dividends shall be declared on the
amount actually credited on the capital
stock without regard to the amount sub
scribed for.
Dividends ACQUIRING to stockholders who
owe any portion of any stock subscribed
for by them shall be credited to such I'M
paid subscription until the full amount
of all stock Subscribed for by such stock
holders shall be paid in full Such credit
Of dividends shall not in any manner
relieve such stockholders from the pay
ment of calls on such subscription, but
the credit OF such dividends shall be ia
excess of the calls on such subscription
to stock. Interest at the rate of eight
per centum per annum shall be charged
on the unpaid portion of calls on stock
subscribed for from the maturity of each
call.
stock subscribed for should not be paid
within thirty days after the same shall
become due, such stock and the subscrip-
ton thereto, together with all installments
paid thereon. may be forfeited to the Com.
pany by resolution of the Board of Direc-
| tors, without further notice or proceed
| ings; or the Board of Directors may hold
the subscriber to said stock personally
responsible therefor and take legal pro-
ceedings to collect the installment or in
| stallments due thereon.
The Company shall begin operation as
soon as two thousand (2000) shares OF
the capital stock are subscribed for or
| disposed Of
At all elections by or meetings of the
| stockholders each share of stock whether
| paid for in full or not shall be entitled
| to one vote. to be cast either by the
person in whose name the stock appears
| on the books Of this corporation at the
| time of the voting or by his agent OF
proxy, duly authorized in writing to thai
| effect.
All transfers Of stock shall be made
! on the books of the corporation and shall
be signed by the stakeholder or by his
attorney.
ARTICLE vI.-The business and affair.
and corporate powers of this corporation
shall be transacted by Board of Direc
tors composed of not less than three di
rectors nor more than seven directors
| to be composed of stockholders o
this corporation owning at least ten 90
shares Of the capital stock. The stock
holders may at any annual meeting cleo
less than seven directors and the direc
tors thus elected may prior to the mex
annual meeting elect one or more adj
ditional members of the board Of directors
| so as to make the board of directors
not more than seven. The directors
whether elected by the stockholders o.
by a majority of the votes at meet
ing of the stockholders or of the direc
tors, as the case may be.
A majority of the members Of sait
. Board of Directors shall constitute
quorum for the transaction and manage
| ment of all business of said corporation
Lester F. Alexander of New Orleans, Lou
isiana. as President. John L. Dickey O
New Orleans, Louisiana, as Vice-Presi
dent and Secretary, and Robert X. Null
nix of New Orleans. Louisiana. shall con
stitute the first Board of Directors ant
they shall hold office until the SECOND
Tuesday in January 1923 or until thei
successors are elected and qualified; eacl
subsequent Board shall take their seat
Immediately following their election. o.
| as soon thereafter as practicable. ant
shall hold their office until their sue
cessors shall hare been elected and quail
fed.
On the second Tuesday in January 1872
and annually thereafter an election 70
Directors by the stockholders shall b
held at the off~e OF the Company afte
fifteen days printed or written motto
shall have been mailed to each stockholde
or subscriber to stock at their RESPECTIVE
addresses appearing on the books or tn
Company. Every Board Of Director
shall Mt its first meeting after its cleo
ton. or as soon thereafter as practicable
elect President. Vice president; and
Secretary who may or may not he mem
Der of the Board. as the Board may dt
termine. Or the Board may elect an
other officer to the position Of Secretary
The Board may also select one or NOR
Assistant Secretaries who may or ma
, NOT be members OF the Board and gran
them such authority as the Board ma
! deem wise. =.
A failure to elect Directors on the dat
above specified shall not dissolve the col
! poration. but the then existing Board