The herald., 1922-02-02
Feb. 2-NIch. Q
CHARTER OF

Louisiana, Parish of Orleans, City of New
Orleans. BE it known that on this the
23rd day of the month of January, in the
year of our Lord one thousand nine hun
dred and twenty two. before me. EDOU-
ARD f. HENRIQUES, a Notary Public
in and for the Parish of Orleans State
of Louisiana. duly commissioned and
qualified, and in the presence of the wit
nesses hereinafter named and under
| signed, personally came and appeared the
persons whose names are hereunto sub
\ scribed, all above the full age of major
| ity, who severally declared that, availing
| themselves of the provisions of the laws
| of this State relative to the organization
| Of corporations, they have formed and
organized, and by these presents do form
| themselves and those whom they repre-
sent into and constitute corporation
| and body polite in law for the objects
| and purposes and under the stipulatiOns
| and agreements hereinafter set forth and
| expressed, which they hereby adopt as
their charter.
| ARTICLE l. The name and title Of
the corporation hereby formed is de-
clared to be the PICARD CONSTITUTE
T1ON CO., INC. Its domicile shall be in
the City of New Orleans, State of Louis
lana, and il shall have and enjoy sue
cession by its corporate name for pc
riod Of ninety-nine 900 years from and
after the date hereof.
This corporation shall have power and
authority to contract, sue and be sued
in its corporate name; to make and use
n corporate seal: to hold, receive, hire
and purchase real and personal property
and to sell, mortgage or pledge the same
and to borrow money and issue bonds
notes and other obligations.
All citations or other legal process shall
be served upon the President end in the
event of his absence or inability to act
from any cause, the same shall be served
upon the vice-President or Secretary
| Treasurer.
ARTICLE ii. The objects and pur
poses for which this corporation is organ
lied and the nature of the business e
be carried on by it are hereby declared
: to be:
"a To carry on a general contracting
business and to excavate, grade, paw,
and construct sewers, highways, drain
age, irrigation and other canals, levee
and public and private works of all kinds
~ To apply for, purchase or other
wise acquire execute any contracts an,
concessions for or in relation to the con
struction, execution, carrying sout, equip
E ment, improvement control of publi
} works and conveniences, and to under
E take. execute carry out. dispose of, o
otherwise turn to account the same.
(3) To manufacture, buy, sell, lease
exchange, dispose of, or otherwise dea
: in all kinds of machinery, implements
i engineering and hardware specialties
: | gasoline, gas steam engines, motors
b travelling cranes, steam shovels, and i'm
plements and machinery of all kinds use
Y in or adaped to the construction of canals
| tracing and construction work.
ARTICLE III. The capital stock O
i this corporation is--hereby fixed at tn
( tsum of ONE HUNDRED AND 81,
$ THOUSAND AND NINE HUNDRED AM
n MOI DOLLARS (S106 100000, divide
a into and represented by one thousan
and sixty nine C1,069) shares Of the pa
g value of One Hundred Dollars $4,000
: each. or said capital stock, one thousan
: Q,000) shares Of the par value of On
: Hundred Thousand Dollars (S100,0O0.0
shall be cumulative, preferred stock, an
e sixty-nine (69) shares of the par valu
e of Sixty nine Hundred Dollars ($69OO.Ot
= shall be common stock.
8 Both preferred and common stock sha
II be paid for in cash, or same may B
l. issued at not less than par value, fC
I leases, contracts, claims or other right
Ie actually received by said corporation.
d The holders of the preferred stock sha
N be entitled to receive from the surplt
3 or net profits, whenever ascertained,
le yearly cumulative dividend of seven &
= per cent, payable before any dividen
It shall be paid on the common stock.
l. The common stock shall be subject
Is the prior rights of holders of the pr
rs ferred stock as herein declared. If, aft
,e providing for the payment of full div
Is dends for any year on the preferred stoc
s. and for any balance that may remain d.
Of on the cumulative dividends on such pr
We ferred stock for preceding years. as we
n as retiring and cancelling such an amou
" Of preferred stock, as the Board Of Dire
I'd tors may deem 1t advisable to retire. u
v der the authority hereinafter provide
there shall remain any surplus net profit
h. any and all such surplus net profits nt
IN in the opinion of the Board Of Direcol
" required to provide for the maintenant
n Improvement, enlargement and operati'
he Of the property and business of the CO
n. poration, or for the payment Of its II
c. bilities, shall be applicable to dividen
hit upon the common stock for such yes
rs when, and rs, from time to time, {
same shall be declared by the Board
or Directors, which dividends upon the COZ
to mon stock shall not be cumulative, b
ne shall only be paid If earned.
nd The holders of preferred stock shi
ge not be entitled to vote at any meetil
SO Of stockholders or election of director
nv The voting power of the corporation sh;
al be and is hereby vested in the holde
OF OF the common stock exclusively.
r. This corporation shall have the rigl
through its Board Of Directors, fro
es time to time, after one year from Z
or date Of this charter. to take up a
a. cancel any Of the preferred stock viii
by may be issued. at its par value, with {
III cumulated dividends unpaid at the til
Of redemption on any date of payne
a OF preferred stock dividends. This rig
n shall continue until all Of the PREFER
RS stock shall be cancelled.
Is In the event of liquidation. or dissol
,st ton. from any cause, all of the PREFER
of stock together with all accrued and U
IT. paid dividends thereon) which has n