The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-28
CHARTER OF
LEE EIDN nc

/
LEE FLONACHEk, INC.
United States of America. State OF
| Louisiana, Parish of orleans, City OF
| New orleans. BE II known that on this
eighth day Of the month of September
\ 1872, before me, Charles ROSen. a Notary
| Public, duly commissioned and qualifed
| in and for the above parish, and in the
| presence of the witnesses hereinafter
named and undersigned, personally came
and appeared the several persons, all OF
! the full age of majority, whose names
are hereuntO subscribed, who declared
| that, ayailing themselves of the laws OF
this state in such cases made and pro-
vided, relative 10 the organization of
corporations, they do hereby constitute
themselves, their associates and success
sOrS corporation for the objects and
purposes and under the conditions and
StipulatiOns of the following articles,
which they hereby adopt as their charter,
to-wit:
ARTICLE l. The name and title Of
this corporation shall be Lee Flonacher.
Inc.
ARTICLE ii. Its period of duration
shall be ninety nine years from this date.
ARTICLE III. The domicile of this
corporation shall be in the city of New
Orleans, parish of Orleans, state of Louis
lana, and all citations and other legal
process shall be served on the President,
and, in case of his absence or disability,
on the Secretary Treasurer, or as other
wise provided by law.
ARTICLE ". The objects and pur-
poses for which this corporation is organ
lied and the nature of the business to
be carried on by it are hereby declared
to be: To manufacture and buy and sell
mems and boys clothing, and generally
to do any and all things connected with
or incidental to said business.
ARTICLE V. Said corporation shall
have for the purposes of the business to
be carried on by it all the powers con-
ferred by law upon corporations, and
shall generally have and exercise all the
powers necessary or convenient TO carry
on said business. Said corporation shall
have full power to contract; to sue and
be sued, in its corporate name; to make
and use "A corporate seal, and the same
to break or alter at pleasure; TO hold, re-
ceive, purchase, rent or otherwise acquire,
and to convey, mortgage, hypOthecate,
lease, SELL pledge or otherwise dispose
of property. real, personal and mixed, in
GLIDING trademarks, trade-names, labels
and patents; to issue bonds, notes or
other obligations; to name and employ
such managers, directors, officers, agents
and employees as the interest and con-
veDience of the corporation may require
and to make such bylaws, rules and reg
ulatiOns for the management and control
of the business and affairs of said cor
poration as may be deemed necessary and
proper.
ARTICLE VI. The capital stock OF this
corporation is hereby fixed at the sum
of One Hundred and Fifty Thousand Dol
lars (sl5O. OOOOO), divided into fifteen hun
dred shares of the par value of One
Hundred Dollars ($10000) per share and
consisting of two classes, towit:
Fifty Thousand Dollars $50 900 .O0)
thereof shall be preferred stock and One
Hundred Thousand Dollars (S10O,0OO.OO)
common stock.
The preferred stock legally issued and
outstanding shall be entitled by prefer
ence and priority over the common stock
to yearly dividends when and as declared
by the Board of Directors out of the
net profits or earned surplus, at the rate
of eight per cent $50 per annum, and
October. Said dividends shall be cumu-
lative and shall be limited TO said eight
per cent (ST) per annum. No dividends
shall be paid or set aside for the common
stock until all the dividends due on the
preferred stock shall have been fully
paid.
The Board of Directors may on any
dividend date, out of the net profits or
earned surplus, retire any or all of the
preferred stock upon giving sixty 1907
days prior written notice by mail or in
person to the preferred stockholders of
record, by faying One Hundred and Five
Dollars (S10500) per share, together with
all dividends due thereon TO such dividend
date; and from and after said dividend
date all dividends on said stock shall
cease Said redemption shall be proper
tionate to the holdings of all Of the out
preferred stakeholder fail to present for
retirement in whole or in part the out
standing certificate of stock. the shares
so redeemed shall be cancelled on the
books and the amount due thereon held
for the owner, subject to his order, on
presentation and surrender OF the out
standing certificate.
In the event Of the dissolution or
liquidation of the corporation, the par
value of all the preferred stock legally
issued and outstanding shall be paid TO
the holders thereof in full, with all un-
paid dividends. before any payment shall
be made on the common stock.
The common stock legally issued and
outstanding shall be entitled to dividends
as and when and to the extent declared
by the Board of Directors out of the net
profits or earned surplus after the pay
ment of the agreed dividends on the pre-
ferred stock, and after the setting aside
of such amount as may be required for
the retirement Of any preferred stock as
may be decided by the Board OF Direc-
tors.
In the event OF the dissolution or liqui-
dation of the corporation, after the pay.
ment of the debts of the corporation and
the payment in full of the par value OF
all the preferred stock legally issued and
outstanding. with all accumulated diyi-
dends thereon, the remainder of the
assets of the corporation shall belong TO
and be paid and delivered to the holders
of the common stock.
Each share of the capital stock legally
issued and outstanding, both preferred
and common. shall be entitled to one
vote in all elections and at all meetings
of the stockholders, to be cast by the
registered holder thereof or his duly con-
stituted agent or proxy.
This corporation may increase or de-
crease its capital stock in the manner
prescribed by law. The preferred cap
ital stock may be increased to One Hun
dred Thousand Dollars (S100,OO0OO). The
common capital stock may be increased
to Two Hundred Thousand Dollars
$500, 0OO.00).
The Board Of Directors may at any
time issue any unsubscribed stock upon
payment therefor in accordance with law
to such person or persons as the Board
may deem proper.
No transfer of stock shall be binding
on this corporation unless made upon It's
books by the surrender of the outstand-
ing certificate properly endorsed by the
registered owner or by his duly constr,
tuted agent or legal representative, and
lations as the Board Of Directors may
prescribe.
ARTICLE VII. The business and af-
fairs Of the corporation shall be managed
by Board Of five (0 directors, who
the annual meeting. which shall be held
on the second Monday Of September Of
each year. Each of the directors shall
own at least one share Of stock In his
own name. The first annual meeting shall