The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-21
CHARTER OF
LEE FLON INC.


Louisiana, Parish of Orleans, City of
New orleans. BE IL known that on this
eighth day of the month of September,
lyZ2 before me, Charles Rosen, Notary
Public, duly commissioned and qualified
in ana 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, awaiting themselves of the laws of
this state In sucn cases made ana pro-
vided, relative 10 the organization OF
corporations, they do hereby constitute
themselves, their associates and success
sOrS a 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 /. The name and title of
this corporation shall be Lee Flonacher,
ARTICLE ii. Its period of duration
shall be ninety nine years from this date.
ARTICLE Ill. the domicile Of this
corporation shall be in the city of New
Orleans, parish of Orleans, state of Louis
lana, ana 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. o,,oo,. m, NM,
poses TOR which this corporation is organ
ized and the nature of the business to
be carried on by IL are hereby declared
TO be: TO manufacture and buy and sell
mems and boys clothing, and generally
TO do any anu 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 1t 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 corporate seal, and the same
to break or alter at pleasure; to hold, re-
ceiye, purchase, rent or otherwise acquire,
and to convey, mortgage, hypothecate,
lease, sell, pledge or otherwise dispose
of property, real personal and mixed, In
GLIDING trade marks, 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
ARTICLE vi. The capital stock of this
corporation is hereby fixed at the sum
, of One Hundred and Fifty Thousand Dol
lars (S150,Oc0.OO), divided into fifteen hun
bred shares of the par value OF One
Hundred Dollars t$100.0O) per share and
consisting of two classes, to-wit: .,
Fifty Thousand Dollars ($5O, oOoOOl
thereof shall be preferred stock and One
Hundred Thousand Dollars ($1OO,0OO.oO)
common stock.
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
ssh, per esv ssns @ tSs 4se day
October. Said dividends shall be cumu.
lative and shall be limited to said eight
per cent ts%) per annum No dividends
/, stock until all the dividends due on the
preferred stock shall have been fully
paid.
dividend date, out of the net profits OF
earned surplus, retire any or all Of tbs
preferred stock upon giving sixty t60)
4 days prior written notice by mail or II
person to the preferred stockholders OF
| record, by paying One Hundred and Fivs
Dollars (Sl05.0O) per share, together with
all dividends due thereon to such DIVIDEND
date; and from and after said DIVIDEND
date all dividends on SAID STOCK ho -a sna.
tionate to the holdings Of all OF the out
standing preferred stock. Should an,
preferred stakeholder fail to present FOL
retirement In whole or IN part tne ou.
so redeemed shall be cancelled on tn,
books and the amount due thereon hello
for the owner, subject to his order, OF
presentation and surrender OF the out
standing certificate.
In the event Of the dissolution o.
liquidation of the corporation, the pa
value Of all the preferred stock legaii!
issued and outstanding shall be paid e
paid dividends. before any payment shal
be made on the common stock.
The common stock legally issued ant
outstanding shall be entitled to dividend
as and when and to the extent declared
by the Board of Directors out OF the ne
profits or earned surplus after the pay
ment of the agreed dividends on the pre-
ferred stock. and after the setting asia
Of such amount as may be required 10
the retirement Of any preferred stock
may be decided by the BOARD Oh Drec
tors.
. In the event Of the dissolution or liqui
daticn of the corporation, after the pay
ment Of the debts Of the corporation an
the payment in full of the par value o
ali the preferred stock legally issued an
outstanding. with all accumulated divi
, dends thereon. the remainder OF tn
assets Of the corporation snail oeiong I
and be paid and delivered TO the hoioer
of the common stock.
! Each share Of the capital stock legal
; issued and outstanding, both preferre
: and common. shall be entitled to on
vote in all elections and at all meeting
) of the stockholders. to be cast by tn
. registered holder thereof or his duly cor
z stituted agent or proxy.
This corporation may increase or dc
crease its capital stock in the manne
, prescribed by law. The preferred car
! ital stock may be increased to One Hun
/. bred Thousand Dollars S100,0O00O. In
common capital stock may be increase
to Two Hundred Thousand Dollar
$500. OO0O0).
al The Board Of Directors may at an
time issue any unsubscribed stock upo
. payment therefor in accordance with la
: to such person or persons as the Boar
: may deem proper.
Z No transfer Of stock shall be bindin
i. on this corporation unless made upon !,
' books by the surrender Of the outstans
e ing certificate properly endorsed by q
registered owner or by his duly const
0 tuted agent or legal representative, an
: in accordance with such rules and reg'
: lations as the Board Of Directors ma
: prescribe.
e ARTICLE VII. The business and a
q fairs of the corporation shall be manage
: by a Board Of FIVE (0 directors, WI
: shall be elected by the stockholders
the annual meeting. which shall be hel
6 on the second Monday Of September
: each year. Each of the directors sha
!. own at least one share Of stock In b
!, own name. The first annual meeting sha