The herald. [volume] (New Orleans, La.) 1905-1953, 1922-03-23
CHARTER.
increased I'D to the amount of five hun
bred thousand dollars $500 OOO.OO).

increased up to the amount OF I'VE nun
dred thousand dollars (SoOO,OVO.oo)'
No stakeholder in this corporation shali
dispose of his holdings, or any part there-
Of without first Offering the same 10 the
corporation at it's book value. And the
corporation shall have ten (lO) days Win
in which to accept or reject the saiu oL-
fer JpOn the death of any stockholuer,
his stock shall forthwith, at the option OF
the corporation, be taken over by IL AT
it's book value. The surviving WIDOW OF
any stakeholder shall have the right TO
purchase this stock in preference 10 any
and all heirs after the same has been OF
fered to and refused by the corporation.
No stakeholder shall be held liable or
responsible for the contracts or faults Oh
said corporation in any further sum thah
the unpaid balance due on the shares or
stock owned by him, nor shall any mere
informality in organization have the eHect
of rendering this charter null or OF eA-
posing the stockholders to any llaDlllty
beyond the unpaid amount due on their
stock.
ARTICLE V-All the corporate powers
of this corporation shall be vested in ana
its business and affairs managed by
board of directors consisting OF nye SI
members, three of whom shall constitute
a quorum for the transaction Of business:
Any vacancy or vacancies in the board OF
directors shall be filled by the remaining
directors.
The stockholders of this corporation
shall, within ten days from the signing
hereof proceed to the election of board
| of directors to consist of hye members,
as well as the election of president,
vice president, secretary and treasurer,
which last two officers may be held by
one person. Annually thereafter, the
| said corporation shall elect from among
| its stockholders on the second Monday oil
March, of each year, board OF directors,
| consisting of five members, as well as a
president, vice-president, and secretary
and treasurer, which last two Offices may
| be held by one person.
| The first board of directors and officers
| to be elected under this charter shall hold
office until the second Monday in March
| 1923, or until their successors are electeu
| and qualified.
Failure to elect directors on the day
! above specified shall not dissolve this cor
! pOratiOn but the directors then in Office
shall remain in Office until their success
| sors are elected and qualified.
| Any member of the board OF directors
| may vote by written proxy.
| No contract shall be made or entered
/ into by this corporation unless the same Is
| signed by three of its directors, except
| contracts for the immediate sale or pur
chase of commodities dealt in by thi:
! corporation, which can be executed by the
president or vice president of the corpora,
! ton, as they deem fit and proper, and
such contracts for immediate delivery sinai
| be binding on this corporation.
ARTICLE VIAL notices of stock
holders or board of directors meetings
including the annual meeting herein pro
! vided for, shall be held after twenty-foul
! hours written notice shall have beef
| mailed by the secretary to each stock
holder at his last known place of resi-
dence and at all stockholders meeting ;
majority of the stock represented b!
proxy or otherwise shall control.
! ARTICLE VII-This charter may b.
amended or the corporation may be dis
solved and liquidated. by a ffty-one pc
cent (5l&o) vote of the capital stock ap
pearing on the books Of the company
and in case of liquidation, the board o
directors then in office shall liquidate tn
corporation.
Thus done and passed, in my Office, a
the city of New Orleans, on the day
month and year herein first above written
in the presence of August ii. Ritter ant
Miss Amelia Babin, competent witnesses
who hereunto sign their names, togethe
with said appearers and me, notary, afte
reading of the whole, the said appearer
likewise subscribing for the number o
shares set opposite their respective names
names of subscribers, together wit
their addresses and No. of shares).
Witnesses: A. III. Ritter. a. Babin.
J. NJ QUINTE RO,
Notary Public
| /. the undersigned, Recorder of Mort
cages in and for the Parish of Orleans
State of Louisiana, do hereby certify tina
the above and foregoing act OF incorpora
ton of l.. Frank & Co., Inc, was thi
day duly recorded in my office, in Boo
126S. folio -
New Orleans, La, February Is, 1922.
(Signed): ROBT. SCOTT,
Deputy Recorder Mortgages
J. NJ. QUINTERO,
(SeaD: Notary Public
| Feb 23-Mch. 30.