The herald., 1922-07-20
CHARTER.

land shall be personal property. No trans
fer of said capital stock shall be binding
upon this corporation unless made in ac-
lcordanCe with it's charter and bylaws al
! recorded on the books thereof.
| ARTICLE V-The capital stock of thi.
corporation shall be fully paid and non
| assesSable when issued. and shall be is
| sued only for labor done or services rem
dered or for property actually received
OF for cash to be paid in at such times and
| in such amounts and after such notices
as may be determined by the Board OF
| Directors.
| ARTICLE VI-The powers of this cor
pOratiOn shall be vested in and exercised
| by Board of Directors of not more than
seven. and not less than three directors
each of whom shall hold in his own name
at least one share of stock. Said Board
of Directors shall be elected annually on
| the first of July of each year; the first
election to be held in 1923. All ouch eec-
| tons shall be by ballot at the Office of the
corporation, under the supervision of two
| commissioners to be appointed by the
| Board of Directors, and in the absence OF
any commissioners, the president shall
| have the power to fill the place by APP
| pOintment, and all such elections, as well
| as all of the meetings of stockholders
except for the purpose of liquidation or
dissolution. or otherwise required by
law, ten days notice shall be given by
mailing to each stakeholder who appears
as such on the books of the corporation,
Il
general delivery of New Orleans. if he
has not designated address, an an
nouncement stating the time and place
of the meeting. Each shareholder shall
be entitled TO one vote for each share of
stock standing in his name on the books
of the corporation, to be cast in person
or by proxy, and majority of the votes
cast shall elect. The Board of Directors
shall have power to fill all vacancies that
may occur in the Board. Failure to elect
directors on the day above specified shall
not dissolve the corporation. but the di-
rectors then in office shall remal N in
office until their successors are elected
and qualified. Due notice of another cleo
ton shall forthwith be given, as above
provided. Such notice OF election shall be
continued to be given until an election is
held. The Board of Directors ut their
first meeting shall elect from their num-
Der a president, a vice-president. a Sec
rotary and n treasurer, and such other
officers as the Board of Directors shall
deem necessary. The Board of Directors
shall have power, in its discretion, to
unite two or more offices and the same
to confer on one person, and shall have
power to fix the salaries of all officers,
and all such other officers and employees
as they deem necessary. The Board OF
Directors shall have power to make and
establish. as well as alter and amend,
all bylaws, rules and regulations neces-
sary and proper for the support and man
agement of the business and affairs OF the
corporation not inconsistent with its
charter. Said Board shall also have full
power and authority to borrow money.
and through the president or some duly
authorized agent or agents, to execute
mortgages issue notes, bonds, or such
other obligations, in such amounts and
on such terms as in their judgment may
be advantageous and. generally to do all
things reasonably necessary for the prop
er carrying on of the business of this
corporation, and also TO issue and deliver
full paid shares of stock and bonds or
obligations of this corporation, in pay
ment Of money borrowed or money. labor
and services, and property or rights ac-
tually received. by this corporation, as
heretofore set forth: and shall have power
to do and perform all such acts and
things that may be necessary to carry
out the objects and purposes for which
this corporation is organized.
majority of the Board Of Directors
shall constitute quorum for the trans
action of any business. At any meeting
OF the Board any director absent from the
meeting may be represented by any other
director, who may cast the vote of said
absent director according to the written
instructions of said absent director. The
Board of Directors shall have the power
by vote of not less than a majority there
of, to sell, lease. mortgage, by bOnd-mOrt-
gage or otherwise, or to pledge any and
all the property, movable or immovable.
belonging to the corporation, or to re-
ceive in exchange thereof. money or
another corporation without referring to
the stockholders for the power to do so
and they may also purchase the stock of
this corporation. for cash or credit, or
any property of any kind required for
any of the purposes of the corporation
without authority of the stockholders.
Until the next general meeting to be
held under this charter on the first of
July. 1923, or until their duly quilted
successors are elected and installed the
HOARD InraptnrS M ion,
shall be composed of:
James F. Turnbull. whose post office
address is $40 Baronne Street, New Or
leans. La; Joseph c. Nicely, whose post
office address is 1918 LeOntine Street. New
Orleans, La; Beulah NJ. Isom. whose post
office address is $40 Baronne Street, New
Orleans. La, with James +. Turnbull as
president; Joseph c. Nicely as vice-presi-
dent, and Beulah NJ. Isom, as secretary
treasurer.
ARTICLE vII-This charter NAV be
and the capital stock of this
corporation may be increased and de-
creased, or this corporation may be dis
solved in the method and manner pro-
yided by law
ARTICLE vIII-No stakeholder OF this
corporation shall ever be held liable or
responsible for the debts, contracts. or
faults or this corporation in any further
sum than the unpaid balance on the stock
for which he has subscribed nor shall
any mere infOrmality in organization have
the effect Of rendering this charter null
or OF exposing stakeholder to any liza
Dility than as above prescribed
ARTICLE IX-No stakeholder NAV sell
assign or transfer his stock in this cor
poration without giving to this corpora |
llon Through Its secretary, thirty DAVIS
prlor notice in writing of such intention.
ma TINS corporation or the other stock
holders shall have the first privilege of
purchasing the said stock at book yaIue
plus five per centum.
, Inc lncorporators have placed opposite
.heir respective signatures the number of |
'hares OF the capital stock for which they
nave respectively, subscribed, which Is TO |
De taken and considered as the original
list of this corporation. and
"hich is to be recorded as such.
r, Messrs. James +. Turnbull and Joseph |
:. Nicely, and Miss Beulah NJ Isom. on
'eihg duly sworn, depose and say: that |
- appears from the following, over fifty |
per centum OF the capital stock of this |
corporation have been subscribed
mus done and passed at nv office in |
ne City of New Orleans, the day, month
lhd year first above written, in the nres-
nee OF George st. Paul and HiIds
ieunler' competent witnesses who have
'lEneu their names hereunto together
with the said Messrs. James f. TurnbuII
oseph L. Nicely, and Miss BeuIah nj
SUM Incorporators herein, and me. No
airy, after due reading Of the whole.
lOriginal Signed):
Jas. f. Turnbull, "a shares; BeuIah NJ.
som. share; Joseph c. Neely, Is shares
witnesses: Geo. st. Paul, Hiida Meunier
ROGER MEUNIER,
Notary Public.
true copy of the original on file and
u record in my office