The herald., 1922-02-02
ACT OF INCORPORATION OF
MARINE LUMBER CO., LTD.

State of Louisiana, Parish of Orleans
City of New Orleans. lie il known tina
on this the 18th day of the month q
January. i'll the year of our Lord, on
thousand nine hundred and twenty-five,
and of the Independence of the Unite
States Of America the one hundred ant
forty sixth, before me, WALTER J
SUTTON, JR., Notary Public, dul.
commissioned and qualified in and 70
the city, parish and state aforesaid
| therein residing. and in the presence o
I the witnesses hereinafter named an,
undersigned, personally came and ap
peared the several persons whose names
/ are hereuntO subscribed, who declared
] that, availing themselves of the proyi
I siOns of the laws of this state relativ,
to the formation and organization of cor
porations, they have covenanted and
/ agreed and do by these presents cove
nant, agree and bind themselves, as wei
as those who may hereafter become asso-
ciated with them, to form themselves into
a CORPORATION for the objects and pur-
poses. with names and under the stipu-
/ latiOns following, tO-wit:
ARTICLE j. The name and style OF
this corporation shall be MARINE LUM-
Der CO., LTD, and by said corporate
name it shall have and enjoy succession
and existence for a period of ninety nine
years, unless sooner dissolved. and shall
have all the rights, privileges and i'm
munitieS which are now or may here
after be granted by law to corporations
under said corporate name il shall have
the power and authority to contract. sue
and be sued; TO make and use a cor
porate seal, the same TO break or alter
at pleasure, and TO make all necessary
rules and regulations for its corporate
management and control.
ARTICLE III. The dOmicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans. State of
Louisiana. and citation and other legal
no hn
tary; or, in case of his absence or in
ability to act, upon any other officer of
the corporation.
ARTICLE III. The objects and pur-
poses for which this corporation is Or
ganized and the nature Of the business
to be carried on by it are hereby declared
to be: To buy, hold, own. sell. and
generally to deal in any and all kinds
of lumber. and any and all kinds Of
building material and to handle same
on a commission basis; to buy, hold
own, sell and generally to deal in tim
Der and timber leases; to cut, prepare
and manufacture any and all kinds of
lumber; to import and export timber
lumber and building material; to buy,
hold, own and sell real estate necessary
for the business of the corporation; to
purchase and acquire the assets and
goodwill of other businesses whose
objects and purposes are incidental or
similar to those of this corporation; to
buy and own stock in other CORPORA
tions, and generally to do any and all
things incidental or germane TO any of
the objects and purposes above set forth
ARTICLE ". The capital stock of
this corporation is hereby fixed at the
sum OF Six Thousand Dollars $4,000 CO.,
divided into one hundred and twenty
shares of the par value of One Hundred
Dollars each, all of which shall be COM
mon stock; and the amount to which
the capital stock may be increased is
hereby fixed at the sum of Fifty Thou
sand Dollars ($50,0O0.O0); said stock
shall be issued only for cash or in pay
ment of property actually received by
this corporation, or services actually
rendered to it; said stock shall be fully
paid at the time of its issuance and there
after be worcestershire. This corpora
ton shall commence business and become
going concern as soon as fifty per cent
of its capital stock shall have been sub
scribed and fifty per cent of the sub
scription paid for.
The parties to this act hereby declare
that they have subscribed for the num-
Der OF shares of the capital stock of said
corporation set opposite their respective
signatures hereto, so that this act of in
corporation shall serve as the original
No present or future stakeholder of
this corporation shall ever sell, assign
Or transfer other than by inheritance any
Of the capital stock of this corporation
until the same shall have been first Of
fered to the remaining stockholders for
the benefit of those stockholders who
may desire to purchase the same through
the Board of Directors, for a period of
ten days, at the book value of such stock
as shown by the books of the corpora
ton on the Both day of November, pre-
ceding the date of such offer. 1t shall
be the duty of the Board of Directors
upon receiving an offer of sale of any
OF the capital stock of this corporation.
promptly to communicate the same to
the stockholders, in writing, through the
Secretary of the corporation, and each
)f the said stockholders shall be entitled
TO purchase such proportion Of the stock
so offered for sale as the number of
shares owned by him bears to the num-
Der of shares owned by all other stock !
holders desiring to participate in the
purchase. NO sale under foreclosure |
made until the foregoing requirements |
have been complied with by the person
or persons, firm or corporation proyok- |
ing such foreclosure or SALE And no |
stock shall be transferred on the books |
4 stockholder, save by and with the writ.
ten consent of Stwo-thirds of the stock. |
holders In number and amount
ARTICLE Y. All the powers of this /
exercised by "a board of not less than
three nor more than seven directors. as
determined in advance each year by the
stockholders ae the annual meeting. If
nc huinper OF directors Is more than
.hree; three directors shall at all times
constitute quorum. Every director
mail be bona fide stakeholder and shall
u ail times own one full-paid unpledged
mare or stock. The first Board of Direc-
ors snail consist of w. V. Easton. COL
nalcCommercial Building. New Orleans
IA ~. ID. Jackson, $40 Godchaux RuiId
ng, New Orleans. La: M>W. Grundv
vi Canal-Commercial Building, New Or
cans. La; NJ. NJ. Baker, 55i5 Magazine
treet, New Orleans, La; August Krae.
orleans. La. ave"
The officers of the corporation shall
onsist of President, one or more Vice
residents. Secretary and a Treasurer.
Inc nrst officers of the corporation are
5 follows: w. V. Easton, who shall no
resident: .. ID. Jackson, who shall he
ice president; NJ. W. Grundy. who shall
e secretary; NJ. NJ. Baker, who shall be
The above Board of Directors shall
oId office until the first annual meet
* IN december 1922. or until their s,ic-
essors are electd and qualified. Each
11eceeding board shall continue to hold
fhce for one year, or until their enc
essors are elected and qualified. The
ersons to be hereafter elected directors
pr subsequent years shall select from
nelr own number the officers of Tho |
operation. The Board Of Directors NAV
.om time to time. and as the business | ,
tne corporation may dictate, combine
ny Two or the above officers in one and
y, y, same person, giving to the combined
,nee style or title indicating the com
In the second week of December ~ .
len year the stockholders shall elect ,
oard OF Directors for the ensuino w.. |