The herald., 1922-04-20
CHARTER.

other obligations. and while the Owner
of such stock and tori securities. TO tA-
erti>r all the rights, powers and prNI-
I,r,s of ownership, including the righ: to
vote thereon as provided by law, aad 20
aid in any lawful manner, and 10 sub
scribe, CUntribut" 10. Subsldl%e or
utlerW i>e become Interested III any
CORPORATION or COrnurItiOnS, projects
works. plants, properties, structures and
iurD operations necessary, useful or con
[ NrTIrII in connection with its purpOSs~,
| vIc.r%urver located in any and all par.N
| Of the would: and to aid in any lawful
manner any corporation OF association OF
which any shares of stock. bonds or other
! ~ licences of Indebtedness or securities are
hrld by this corporation. and to do such
| further lawful acts or things as II may
desire to protect, preserve, improve or en-
nance the value Of any such shares OF
1 stock. bonds or other evidence OF indebted
ness and securities: and to purchase. hold,
sell and transfer and deal in generally
shares of its own capital stock IN every
lawful manner.
TO sell. convey and otherwise lawfully
! transfer and dispose Of its entire property.
I both real personal and mixed. and rights.
privileges, concessions and franchises or
any interest therein or any part thereof.
to other corporations, firms, associations.
9r Individuals whatsoever and whereso-
ever existing and tori residing.
Ii is the intent that the foregoing
: ruumrrations Of specific powers shall not
| be held to limit or impair in any manner
the general powers of the corporation and
the enjoyment thereof as conferred by the
o. laws of the State of Louisiana upon cor
, purationS organized Hereunder, and that
each of the objects. purposes and powers
specified shall be regarded as independent
objects purposes and powers. ana De III
, no manner and to any extent limited or
; ! restricted by reference TO or Inference
; from the terms of any other clause of this
+ or any other paragraph contained in these
Articles of Incorporation.
ARTICLE IV-The capital stock of this
, | il bFrpbV fixed the
of two hundred thousand (S2OOOu0U 90
dollars divided into twenty thousand co
: OOOD shares Of the par value of ten $4,000
l. dollars each, provided that the amount "a
:. | which the capital stock of this corporation
7 may be increased shall be five hundred
u thousand ($5OOOOO.O0 dollars.
J., Fifty per cent of the capital stock OF
u this corporation must be subscribed fol
before the filing of the Articles of lncor
poration. The subscribed capital stool
5 Of this corporation shall be payable il
cash, rOperty. real or personal or FOL
II services performed or rendered.
n This corporation shall not engage il
business until one hundred thOuSanI
tSlOO.OOOOOJ dollars of the capital stocl
has been subscribed for and actually pai'
in. either in cash, property, or services a
G aforesaid; if any of the stock of thi
L corporation is exchanged in whole or il
: part for property or good WILL in tina
At event the provisions of Section Three q
r OF Act 20, of 1914 shall be strictly com
- piled with.
,e ARTICLE v-An of the powers of thi
corporation shall be vested in and eNer
ciSed by a board of directors compose
of five 90 stockholders, each of whom
r. shall own in his own right, at all time
- during his term of office, at least one tul
y paid and unpledged share Of the capita
~ stock of this corporation, which fact shaI
lu he shown by his written declaration. Sal
III board shall have the right at any time t
increase its number not to exceed seve
"a directors. Said board of director
IT, shall have the right to fill all vacancie
on said board resulting either from dealt
!, inability or resignation or other cauS
~ or because of the increase i'll the numbt
of said board even though no quorum r.
s. main at the time such vacancies are to |
at filled: said board of directors shall |
H. elected annually by ballot, at a stool
d. holders meeting called for that purpO'
he on the second Tuesday in April of eac
of year Cor the next day If that be hol
" day. after due notice given to the stool
a holders by mail. at least fifteen I'D day
nd before the date of such meeting. Fac
,r- holder of stock shall be entitled to OF
rs vote delivered in person or by proxy +,
ed each share of stock standing in his nan
nd on the books of the company, and a III
les jOrity of the votes cast shall elect.
ed Failure to elect directors on the d;
OF above specified shall not dissolve the co
of pOration, but the directors then in Off
nd shall remain in office until their succe
en- sors are elected and qualify. The boa
ute of directors shall elect from their numb
as a president, a vice president and seer
ted tary and treasurer, provided that I
dy board Iaay dispense with any OF said {
ur- ficers and tori may combine any of the
ip- and may appoint such employees tw
need not be members of the board OF stoc
his hOlders) as they think proper or &C
raj yenient Tor the carrying on OF the CO.
der pauy's business, and they shall tx
,es- salaries of all officers, agents and 81
ne plOyees. The board Of directors sh
re- have ruthCrity to make and establish,
ity well as alter and amend, all bylaws, rul
emf AID regulations necessary and proper
her the support and management OF the Du
or ness and affairs of the corporation
or not inconsistent with this charter, a
i've they shall have the power to authorize I
on borrowing of money and the issuance
lte, notes, and the executions of mortgae
9TH and pledges, and generally to do
ow things necessary for the proper carryi
md on of the business of this corporation.
tbe quorum of the board shall consist of 1
old less than four (D directors.
ire. Until the general meeting of the stoC
ital holders for the election of directors to
and held on the second Tuesday of April, ~
i've or until their duly qualified success'
ith are elected and installed, the board OF
ms; rectors shall be composed Of: Thos:
pal Logan 1913 n. Dorgenois St. New
on leans. La; ii. NJ. Carter. 2021 ChestI
the Street. New Orleans, La: f. c. Cart
out 2S55 Magazine Street. New Orleans, Il
nm 4. LAURA. 1924 st. Charles Ave; New I
UGH leans, La; A. Z. Portas, 1924 St Char
and Ave. New Orleans, La. OF the foregoi
of II. NJ. Carter shall be president, f.
TO Carter, vice president, and a. L. Fort
and secretary and treasurer.
nie S ARTICLE VI-This act OF Incorporate
anu may be changed. modified or amend
,ia' or the corporation dissolved, by v
on of two thirds of the entire capital ste
present or represented at a general me
,or- ing of the stockholders convened for su
ms, purpose, after previous notice shall ha
or been given in the manner above requil
pom to be given of the annual meeting Of
corporation.
Itch ARTICLE Wifi this corporation sh
rim. he dissolved, either by limitation or FRI
the any other cause, its affairs shall be liz
and dated by three commissioners to be
in pointed at the meeting of stockhold
adj cow ened for the purpose OF nquldatl
Said liquidators shall remain In office I
nse. til the affairs of the corporation shall ma
'rO- been fully settled and iquidated
md they shall have full power and author
ent, to transfer and give title to all the p
u-e perty and assets of the corporation a
ros- to distribute the proceeds. In case
ZEN death. disability or resignation OF one
ex- more liquidators the vacancy shall
es filed by the survivor or survivors.
lold ARTICLE VIII-No stakeholder sh
ex- ever be held liable or responsible for
ally debts, contracts or faults of said corr
Drm ration in any further sum than the
iro. | paid balance due on the shares OF ste
de- | owned by him. nor shall any mere
ellis, formality in organization have the eff
and of rendering this charter null or OF
tso- posing any stakeholder to any liabil
pro- beyond the amount due on his stock.
rial ARTICLE KIN order that this oh