The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-17
CHARTER.

templated by the charter. This corpora
ton shall conduct its business in othe
States and in the territories and in for
eign countries, and have one Office o.
more; and may hold, purchase, mortgage
and convey real and personal propert!
either in or out Of the State of Louisiana
without in any particular limiting any
of the objects and powers of the corpora
ton, IL hereby expressly declared ant
provided that the corporation shall have
the power to issue bonds and other obi
cations, in payment for property pur
chased or acquired by 1t, or for any otheI
object in or about its business; TO mort
gage or pledge any stock bond or Other
obligations by IL issued or incurred; e
guarantee any dividends or bonds or con
tracts or other obligations; TO make and
perform contracts of any kind and de
scriptiOn; and in carrying on its business
or for the purpose of attaining or further
ing any of the objects, to do any and al
other acts and things; and to exercise
any and all powers which cOpartnerShiI
or NATURAL person could do and exercise
and which now or hereafter may be au-
thorized by law.
ARTICLE III-The capital stock Of the
said corporation shall be $1,000 90. divided
into and represented by 80 shares of the
sum of $4,000 each, which said stock
shall be paid in cash at the time of sub
scriptiOn, or the same may be issued. at
not less than par, in payment or exchange
| for property or rights actually received or
purchased by said corporation, or the
same may be issued, fully paid, for money
/ advanced. and for such valuable cOnsid-
Grafton or services as the board of dirrc-
! tors of said corporation may determine
I provided. that no stock shall be issued
until the consideration therefor has been
received by the said corporation.
All shares of stock when issued shall
be signed by the President and the Sec
rotary of the corporation. No shares of
capital stock shall be transferred except
upon the books of the corporation and
until the certificate of the shares to be
transferred shall have been delivered to
the corporation Tor satisfactory proof of
Its loss or destruction, according to law),
and duly cancelled.
This corporation shall commence doing
business as soon as fifty 500 per cent
of the capital stock shall have been sub
scribed for.
The board of directors shall have the
right TO determine how much stock shall
be issued.
ARTICLE IV-The names and post
office addresses of the incorporatOrs and
the number of shares of stock for which
severally and respectively we do hereby
SuScribe are as follows:
Maurice Whitehead, New Orleans, La.
IL shares; NJ. u. McNeely, New Orleans.
La, IL shares; Morris =. LeCOmpte, New
Orleans, La, shares; W. L. Brown, New
Orleans, La, shares.
All the corporate powers of this cor
poratiOn shall be vested in and exercised
by Board of Directors. The board shall
consist of four directors, a majority of
whom shall constitute quorum for trans
acting all business. The Board OF Direc-
tors shall be vested with full power and
authority to make all contracts purchases
and sales, and adopt all bylaws, rules
and regulations for the government of
the business and affairs of the company
and alter, amend and change the same
NJ pleasure; appoint, hire and discharge
all omcers, agents and employees, fix all
salaries, and generally do and perform
all things necessary in the transaction
of the business and afairs of the com.
pany: ANY vacancy occurring in the said
board shall be filled by the remaining
directors from among the stockholders.
Inc first Board Of Directors of this
Whitehead, president; NJ. p. McNeely,
vice-president; Morris P. LeCompte sec
retary treasurer, and W. 7. Brown, who
shall hold their offices until the first
Monday in January, 1923. or until their
successors are duly elected and qualified.
On the first Monday in January, 1923
and annually thereafter, an election for
directors shall be held at the office Of
the company, under the supervision Of
three (3) commissioners to be appointed
by the president, and the directors then
elected shall take their seats Immediately
ana SHAH hold office until their successors
are duly elected and qualified. Each board
shall elect its own Officers, which shall
conslst or a president, vice-president and
secretary-treasurer. All corporate cleo
tlons shall be by ballot, and a majority
OF ,ne votes cast shall elect. either In per-
son or by proxy. Written notice of cleo
Mons shall be given to each stakeholder
Dy the secretary treasurer at least ten
tlol days prior to election.
AN LILLE N-This act of incorporation
may be changed, modified, or amended.
or the capital stock may be increased, b.,
anu with the consent Of two-thirds 70 Il
OF the stockholders. change in the OBJ
Jec.s ana purposes may be made only by
may be dissolved by vote
OF the holders of two-thirds (2-3, az Tho
STOCK Stock at meeting called for that pur
ARTICLE VI-wheneyer this cornora-
tion is dissolved, either by Limitation Of
us charter. or from any cause ITS affairs
shall be iquidated by three (3) Iionida9
. 10 be appointed from among the
ronas OF the stock at the meeting con-
pilot notice shall have been given by The
secretary to each stakeholder. Said com
lllssioners shall remain in office until tbe
been ,r OF SAID corporation shall have
death OF any commissioner, the survivors
snail continue to act
ARTICLE VINO stockholder NJ tbis
respopsih, shall ever be held liable or
thereof in any further sum than The nn
pald balance due to the Corporation on
the shares owned by him, nor shall .Dn
mere informality in organization have tbs
esect OF rendering this charter mil nor
pa eAposing stakeholder to any liability
oeE Ep the amount Of his stock.
o.f,n nus done and passed in nv notar;a,
oftice In the city Of New Orleans Ia
aforesaid, In the presence of Anna Rer'
UttSse and Verlie Bertrand, Competent |
This sitx OF lawful age and residing in
names. together with said parties and me-
the caption hereof SCI iortn In
p M Pud Whitehead, NJ. P. McNeely. ".
trand. oeusse' 'eriie Ber-
BENZ. W. HERMAN
JULY 1a-.rc =, Notary Public.