The herald. [volume] (New Orleans, La.) 1905-1953, 1922-05-11
CHARTER.

law for the objects and purposes anC
under the agreements and conditions fol
lowing, tO-wit:
ARTICLE l. The name or this cor
poration shall be PONTCHARTRAIN
TIMBER COMPANY, INC, and it shall
after its name use the word 'incOrpDr
ated," or its Authorization, inc" dnC
under this name it shall have the power
and authority of corporate existence ant
continue for period or ninety nln'
years from the date hereof and shall
have and exercise, for the purpose of tn,
business to be carried on by it. all tn,
powers conferred by law on similar cor
pOratiOns, including the power to maxi
and use corporate seal, the same &
break change at pleasure; 10 con
tract, sue and be sued in its corporal,
name; to own, hold, receive. purchase
ALLEVIATE, lien, convey, mortgage, hypOth'
ecate, pledge or otherwise enCumbcr
property, both real and personal, in the
United States and in any and all foreign
or other places; TO name and appoint
such officers, managers, directors. agents
and employees as il deems necessary
| to establish branches In all parts of the
| world and to confer upon the company
| agents representatives, thcreat such
powers as to the Board of Directors may
seem necessary or advisable; to adopt
and establish such bylaws, rules and
! regulations as may be necessary and
proper, and the same to amend. alter
! and abolish at pleasure, and generally
! to do and perform all such acts as may
| be proper and necessary to carry out
| and execute the purposes of this cor
| pOratiOn.
ARTICLE III. The oomicile Of this
| corporation shall be in the City Of New
! Orleans, State of Louisiana, and citation
| and all legal process shall be served
upon the President; and, in his absence
or inability to act, upon the Vice Presi
ient; and in his absence or inability to
act. upon the Secretary Treasurer
ARTICLE III The objects and pur
poses for which this corporation is
organized and the general nature of the
business to be conducted by it are here
by declared to be: To manufacture. buy
and sell, and deal in any and all kinds
and classes of timber. lumber, slaves
and other forest products; to import and
export all kinds Of timber, lumber and
other forest products; to buy and sell
roofing and building materials of every
kind; to charter ships and other yes
sells; to buy and sell timber lands Of
all kinds: to erect the necessary saw
mills, planning mills, trans and railways
to market same; to manufacture. buy,
sell and deal in all kinds of wooden
boxes, handles, crates and other wooden
articles, and generally to do any and all
acts whatsoever necessary for the use OF
the business of the corporation. incidental
to, connected with, or relating to the
aforesaid business.
ARTICLE ". The amount Of the
capital stock of this corporation shall
be Six Thousand Dollars (S6,00O.00). pay
able cash or in property or labor act
ually received by the corporation. divided
into and represented by sixty 900 shares
Of the par value Of One Hundred Dol
lars (S100.00) per share, which capital
stock may be increased to
The subscription Of George s. Balmer
to twenty (20) shares of the capital
stock Of this corporation consists in
whole of good will conveyed to the cor |
poration, fully described in an act OF sale |
by the said George s. Balmer to this |
corporation. passed before the under |
signed Notary on this day, which said |
good will is appraised by the directors
OF this corporation at the sum of Two /
Thousand Dollars (s20OOOO0O).
Stockholders shall. in all stockholders |
meetings, be entitled to one vote, in per-
son or by written proxy, for each share |
of capital stock held by them, or they |
may send their votes by letter. the sig
nature Of which must be acknowledged
before a Notary Public or other officer
authorized to take affidavits.
ARTICLE V. All Of the powers of
this corporation shall be vested in and
exercised by a Board of Directors to be
of three stockholders to be
elected annually, on the third Monday
Of January of each year, a majority of
whom shall constitute a quorum for the
transaction Of all business. and a ma
iority Of votes cast shall decide all ques-
elections and of all other meetings of
the stockholders shall be given by de-
posting in the United States postoffce
in New Orleans, Louisiana, not more
than fifteen and not less than three days
prior to the date of said meeting a no.
tice of the holding thereof. enclosed in
post paid wrapper. addressed to each
at the last address furnished
% the company by said stockhOlder. and
n n the event no address be furnished.
election and at all other meetings of
the voting shall be by
ballot. and each stakeholder shall be
Untitled to one vote for each share of ,
tock standing in his name on the books
" the company, to be cast either in per-
ION or by proxy. The majority OF all
tock actually voted shall decide all
questions except otherwise provided
~ law or by this charter. The Board
u directors shall, after each annual !
resident and a ice-President. and !
nail also elect a Secretary Treasurer
vho may or may not be a member OF
he board Of stockholders. and the board {
haii have the right to I'LL, for the I'M '
xpired term, any vacancy occurring {
mong the directors or officers by resig9 7
alton or otherwise. The board may also S
ppoint as many assistant secretaries \
reasurers as it may desire, who may or i
nay not be stockholders.
The board may delegate all or any of I
IS powers In the transaction of the bus
ness or the corporation to a committee
committees of their own body or to
he officers and agents of this corpor-
ton, and may from time to time an
ONT such clerks, agents or other en-
loyees, comforting upon such committee
committees and such clerks, agents 9
nd other employees such powers and ;
uthority as 1t may deem necessary and {
roper for the purposes and business of a
MS corporation; but all such clerks, q
gents and other employees cannot be b
mpioyed for a longer period than by
ne month, unless the contract of en-
ioyment be in writing and be specially
lthorized by resolution of the Board of
irectors.
The board shall have the power to
iopt bylaws for the government of the A
,rporation, and to alter, amend or =
polish the same az pleasure. -
All notices provided by this charter
bylaws, to be given to the stock
olders or directors, may be waived, ex-
PIT where expressly prohibited nv law