The herald., 1922-07-27
CHARTER.

| g. Immediately, or as soon as practi-
cable after each annual election, the d.
| rectors shall elect from their own num-
Der, the president and the vice-president.
and shall also elect the secretary treas
urer.
| A. The names and post office addresses
of the first board of directors are as FOL
! lows: Bishop c. Perkins, 2O3 y. Peters
ST., to serve three 90 years; Lewis a.
Sherck, 233 n. Peters St. to serve three
| (3D years Emile A RainOld, 3Ol n. Front
! St, to serve three 90 years; Philip T..
yallee, 2O4 Decatur St, to serve two %
! years: Charles +. Fenner, SIS Grayter ST,
to serve two 90 years; John Bertonlefe'
1920 Whitney Bldg, to serve one ~ year
Jos c. LeBOurgeois, 1918 Carondelet Bldg
! to serve one Cd year. Emile A. RalnOld'
shall be president; Charles L. Fenner
shall be vice president; and John }. She
han, New Orleans, La, shall be secre'ar!
treasurer.
Said officers and directors shall hold
office until their successors are elected
and qualified and the failure TO hoId tht
annual meeting and elect directors Shall
not affect this cooperation nor impair us
management in any respect, but the d.
rectors and officers in ogice shall con
tinue until their successors are elected
d All vacancies in the board OF dlrec-
tors may be filled for the unexpired term
by the remaining directors.
g. The board of directors may make,
amend or repeal all by laws, rules or
regulations, which they deem proper, Tor
I
transactions between the corporation ana
, its stockholders shall be conducted in ac-
cordance with such bylaws and shall be
deemed to have been entered into subject
, | to all the provisions thereof.
= All elections by the stockholders
! shall be by ballot. at the Office OF the
company, in accordance with such reSuia-
tionS as the board of directors may de-
, | tprmine. and at every such election ana
at all meetings of the stockholders. each
, share of stock shall be entitled TO one
vote. to be east by the registered owner
or by his agent or representative by Writ
) ten proxy.
ARTICLE VII. This act of incorpor-
{ alton may be modified, changed or al
tered, or said corporation may be dls-
solved, with the assent of twO-thirds oil
= the capital stock outstanding at meet
[ ing of the stockholders convened for tina:
70 purpose. and after fifteen days written no.
r tice has been delivered in person or given
by letter mailed to the last known ad-
dress of each stakeholder. The SAID no
p, tice may be waived by the unanimous
% consent of all the stockholders.
. In case Of the dissolution of the cor
|, poration, its affairs shall be Hquidated by
one or more liquidators elected by IN
majority vote of the stockholders. with
such powers, compensation and duties as
the stockholders may determine
ARTICLE Vino stakeholder shall
ever be held liable for the faults or con
tracts of this corporation in any further
sum than the unpaid balance due TO the
!, IcorpOration on the shares subscribed by
o him. nor shall any mere informallty IN
organization have the effect rendering TINS
charter null or of exposing any stock,
holder to any niability beyond the unpaid
balance on his stock.
: ARTICLE VIII-No stakeholder in tn,
J., ! corporation shall hpld more than one
Z share of stock II stakeholder be In
: dcE,ed to the corporation, the director:
= may refuse to consent 10 a transfer OF
d his stock until such Indebtedness is paid
| If any stakeholder is a member OF part
nership, more than one member OF which
shall be stockholders of the corporation
: such members of such partnerships shal
4 be entitled to only one vote for thel
combined shares. Dividends in excess Of
six per cent $50 in any one calendar
! year shall not be declared or paid.
:. ARTICLE IX-The corporation ma!
purchase shares of its own stock, payln'
= for the same out of the surplus profit
X and not otherwise. Such stock may b.
resold for such price, not less than par
as the directors may fix. The corpora
> ton shall have the preferential option &
:, purchase at par. the stock OF any stock
y holder desiring to sell the same and tn
lie option or right to purchase At par III
o. stock of any stakeholder who Is not, o
c; shall cease to lie. a Clearing Member,
10 in accordance with the definition Of
10 Clearing Member" contained in the by
a. laws. In case of the death of stock
y holder, the corporation shall have tn
rs option to purchase his stock at par froI
20 option to purchase may be exercised b
OF the corporation within ten Q0) days afte
o. it shall receive notice in writing OF III
n stockholders desire to sell his stock, o
5, whenever the stakeholder shall not be
ia Clearing Member" or sixty (6O) day
III after notice is writing of the appointmeI
AZ and qualification of his executors
III administrators.
i ARTICLE X-The subscribers heret
OF have respectively written opposite the
Us names the amount Of stock subscribed b
them in this corporation, so that tn
e. act of Incorporation may also serve
the original subscription list of the co
he poration, and they have stated their po
on office addresses so as to conform with A
wv 267 OF 1914
ly Thus done and passed at my office
~ the city of New Orleans, state of Louis
all ana, on the day, month and year here
be first above written in the presence OF
nd F. Whitehead and Russell Pool, competel
to witnesses of the full age of majority ar
e. residing in this city, who have hereun
&C. signed their names with said appeare
e. and me, notary, after due reading Of Il
is whole.
nd (Originsl signed:
% f. A. Rainold, 3Ol n. Front St, shar
en- en- Lewis A. Scherck. 233 n. Peters St,
10 share; p L. Vallee, 204 Decatur ST.,
~. share; Chas. f. Fenner, SIS Gravier 5
e 1 share; J. C. LeBourgeois. Carondel
mt 227 n Peters St, 1 share: John BE
OF tionere, whitney Bank Bldg, shar
es- r. NJ. Murphy, 301 N. Front St, shar
Witnesses: b. Z. Whitehead, Russ'
ew CHARLES ROSEN.
Notary Public.
ro- New Orleans, La, June 80. 1922.
nd I, the undersigned Recorder Of MOI
on cages in and for the Parish OF Orlea
State of Louisiana, do hereby certify tn
lr- the above and foregoing Act of lncorpor
Ire ton, was this day duly recorded in II
are office, in Book No. 126S, Folio =, NJ
yell Orleans. June 80, 1922 o,
III (Signed), ROBT. SCoII,
on- Recorder of Mortgages
ny hereby certify that the above a
lis foregoing is a true and correct copy
ur- the original thereof on file and of reco
de- in my office in this city.
ga Witness my signature and official 81
ad- at New Orleans, La, this goth day
of June, 1922
re- CHARLES ROSEN.
ing Notary Public
the July 6. Aug.10.
the "
by CHARTER OF JAMES f. TURNOUT
sed INC.
Jon Tpitad Sfates NJ America State of Lou