The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-29
CHARTER.


stock held by him, and the persons re-
ceiying the highest number Of votes cast
at said election shall be declared elected
and the Board of Directors thus elected
| shall meet and organize soon after
| said election as possible. A majority
of the whole Board shall constitute a
quorum, and directors absent 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 if
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
| Board of Directors, and proper mipIte
| 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 1t
may also create committees for the man
agenent of the several departments Of
| its business. including an Executive Com
mittee of not less than three go MEM
DerS OF the Board, which committee shall
| be empowered to exercise all the func-
| lions of the Board of Directors during
| the recess of this Board, save those
herein reserved for the fun Board. The
/ Board Of Directors shall fill 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 NAV 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 I'm
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
number one or more liquidators and fix
the terms, conditions and other provi-
slOns 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-
alton in any further sum than the I'M
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 IN. Wherever notice is re-
CURED by law or by this charter, the
cred in person or sent to the last known
address, as is prescribed in Article of
this charter, and twenty -four hours will
be sufficient for all purposes, except
where otherwise prescribed by law. ANY
and all notices required by law or by
this charter may be waived by unani-
nous consent of the Board Of Directors
or the stockholders, as the case may be,
and such waiver shall be entered on the
minutes of the meeting to which they
apply.
Thus done and passed in my notarial
ofhce in the city of New Orleans. state
the presence of John Dart and Henry
Grady Price, competent witnesses, who |
nave hereunto signed their names with |
the SAID parties, and they have set out
held by them, and me, Notary, after |
reading of the whole.
sh oFagind R,o signe Tiss Daniel T. Gay 50
by, d. J.. Gay, So shares, Atmore, Ala;
Edward {. Gay, by ID. ]. Gay, 8 shares |
Biloxi Miss; Henry S. Turner, 1 share |
= New Orleans, La; Benjamin W. Dart
a. Cox, 80 shares New Orleans. La.
Witnesses:
JOHN DART.
HENRY GRADY PRICE.
HENRY z. DART, JR,
l hereby certify that this is a true and |
correct copy of the act of incorporation /
or PRODUCERS Sales Company, Inc, passed |
before me on the 9th day of May. 1929, |
the original of which is on file in INV
notarial office.
HENRY p. DART, JR..
Notary Public.
state Of Louisiana, Parish of Orleans,
Undersigned authority, personally, came
and appeared Daniel J. Gay and Henry
5. Turner. who, being duly sworn by
me, depose and say:
That they are two of the original in
of the Producers Sales Com
Dany, Inc. That the entire TWENTY-FIVE
Thousand Dollars S25, OOOOO) capital
stock of said corporation has been sub
scribe for and paid By the incorpor-
itors OF said company as follows:
Daniel j. Gay, postoffice Biloxi, Miss,
~ shares, of which he has paid in cash
or 90 shares, 100000 and has agreed
o pay the balance within one year from
Robert Il. Long postoffce Atmore, Ala.
$ shares, OF which he has paid in cash
or oO shares, or 100000. and has agreed |
Q pay the balance within one year from
Edward c. Gay, postoffce Biloxi. Miss,
oo shares' for which he has paid in cash ,
Henry s: Turner. postsffce New Or {
n cash $4,000. mas p'iu
BENJAMIN W. Dart. postofice New Or
cans La; 81 shares, for which he has
aid $4,000 in cash.
Wllloughby A. Cox, postoffce New
'rieans, La, 80 shares. for which he has
aid for 20 shares, 100000 in cash. and
or the balance he has agreed to nav the
anne within one year from date hereof.
Inc appearers further declare that
nere has been paid in cash more than
took. "p''i
Original signed: Daniel J. Gay, Henry
Sworn to and subscribed before me.
otary' this 18th day of May. 1922.
HENRY p. DART, JR.,
Notary Public
HENRY p. DART, JR..
ma Notary Public. /