The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-19
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 10 alter
or break at pleasure; but the failure Ia
have seal shall not invalidate 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 aud
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
Ia 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 TIE sum of
I Four Hundred Thousand and 90 100
/ (S400 100000 Dollars, represented by four
| thousand $1,000 shares of One Hundred
and 10 100 ($100OO) 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
| ton, or the Board of Directors may issue
certificates of paid up stock in payment
| Of property or goods actually delivered 10
this corporation or for services actually
rendered to il. 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
| ono in tho prOyidat for nv the
laws of this State. Whenever an Increase
of said capital stock shall have been
authorized or unsOld stock issued fifteen
days written 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. anG
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
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 liz
excess of the calls on such subscription
to stock. Interest ut 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.
If any installment or installments o.
stock subscribed for should not be paid
within thirty days after the same shall
become due, such stock and the subscrlp-
ton thereto, together with all iustallments
paid thereon. may be forfeited TO the Com
| Dany by resolution of the Board OF D1rec-
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 (2O0Ol shares OF
, the capital stock are subscribed for oil
a disposed of.
e At ali elections by or meetings of tn,
! stockholders, each share of stock whether
. paid for in full or not shall be entitled
: to one vote. to be cast either by tn
: person in whose name the stock appear
/, ! on the books of this corporation at TN
: | time of the voting or by his agent o.
|, proxy, duly authorized in writing to tina
; effect.
All transfers OF stock shall be mad
= on the books Of the corporation and shall
; be signed by the stakeholder or by hi
! | attorney.
! ARTICLE vI-The business and affair
= and corporate powers of this corporatlo
- shall be transacted by a Board OF Direc
y tors composed of not less than three di
y rectors nor more than seven directors
A to be composed of stockholders
this corporation owning at least ten 1O
10 shares of the capital stock. The stoci
holders NAV at any annual meeting cleo
, less than seven directors and the dire'
Q tors thus elected may prior to the mex
n annual meeting elect one or more al
a ditionaI members OF the board of director
II so as to make the board Of director
n not more than seven. The director
. whether elected by the stockholders q
l. by the board of directors, shall be electe
10 by a majority of the votes at meet
ing OF the stockholders or or the dlre'
o. tors as the case may be.
A A majority of the members or sal
o Board of Directors shall constitute
IF quorum for the transaction and manage
p ment of all business of said corporation
= Lester F. Alexander of New Orleans, Lot
le isiana. as President, John l.. Dickey
+ New Orleans, Louisiana, as Vice Pres
IF dent and Secretary, and Robert n; Mu
8 stitute the first Board of Directors an
o they shall hold office until the secon
; Tuesday In January 1923 or until the
~ successors are elected and qualified; eac
,r subsequent Board shall take their seal
s Immediately following their election,
nj as soon thereafter as practicable, an
" shall hold their office until their SUI
" cessors shall have been elected and qual
Or fed. IN,
N On the second Tuesday in January -.
TO and annually thereafter an election I.
Sc Directors by the stockholders shall
re held at the office Of the Company art
ne fifteen days printed or written noti'
In shall have been mailed to each stockhold'
or or subscriber to stock at their respecti'
o. addresses appearing on the books OF u
OF Company Every Board OF Directo
or shall at its first meeting after It's ele
or tion. or as soon thereafter as practicabi
g: elect a President, a Vice President; and
is Secretary who may or may net be mel
he Der of the Board as the Board may q
r. termine. Or the Board may elect al
Ill other officer to the position OF Secretar
The Board may also select one or mo
~ Assistant Secretaries who may or mi
he not be members of the Board and gra
them such authority as the Board m
ay deem wise. a.,
e: A failure to elect Directors on the ga
III. above specified shall not dissolve the &C
nd marathon. but the then existing Board
nd Directors shall continue to hold their