The herald. [volume] (New Orleans, La.) 1905-1953, 1922-03-02
CHARTER OF
PICARD CONSTRUCTION co
Feb. 2-Mch. 9

PICARD CONSTRUCTION CO., INC.
United States of America, State of
Louisiana, Parish of Orleans, City of New
Orleans. BE it known that on this the
23rd day of the month of January, in the
year of our Lord one thousand nine hun
dred and twenty-five. before me, EDoU-
ARD f. HENRIQUES, a Notary Public
in and for the Parish of Orleans, State
of Louisiana, duly commissioned and
qualified, and in the presence of the wit
nesses hereinafter named and under
signed, personally came and appeared the
persons whose names are hereunto sub
scribed, all above the full age of major
ity, who severally declared that, availing
themselves of the provisions of the laws
of this State relative to the organization
OF corporations, they have formed and
organized, and by these presents do form
themselves and those whom they repre-
sent into and constitute a corporation
and body polite in law for the objects
and purposes and under the stipulations
and agreements hereinafter set forth and
expressed. which they hereby adopt as
their charter.
ARTICLE 1. The name and title of
the corporation hereby formed is de-
clared to be the PICARD CONSTRUC-
TION CO., INC. Its domicile shall be in
the City Of New Orleans, State of Louis
lana, and it shall have and enjoy sue
cession by its corporate name for a pc
Rod of ninety nine (99) years from and
after the date hereof.
This corporation shall have power and
authority to contract, sue and be sued
in its corporate name; to make and use
corporate seal; to hold, receive, hire
and purchase real and personal property,
and to sell, mortgage or pledge the same /;
| and to borrow money and issue bonds,
notes and other obligations.
All citations or other legal process shall
| be served upon the President. end in the
event of his absence or inability to act
| from any cause, the same shall be served
upon the Vice-President or Secretary
ARTICLE ii. The objects and pur-
poses for which this corporation is organ
| lied and the nature of the business to
be carried on by it are hereby declared
| to be:
~ To carry on a general contracting
| business and TO excavate, grade, pave
and construct sewers. highways, drain
age, irrigation and other canals. levees
and public and private works of all kinds.
(2) To apply for, purchase or other
wise acquire. execute any contracts and
concessions for or In relation to the con-
| sti uction, execution, carrying out, equip
works and conveniences, and to under
| take. execute, carry out, dispose OF, or
otherwise turn to account the same.
go To manufacture, buy, sell, lease.
in all kinds Of machinery, implements.
| engineering and hardware specialties.
gasoline, gas or steam engines, motors,
| travelling cranes, steam shOvels, and i'm
PIGMENTS and machinery of all kinds used
| In or adaped to the construction of canals,
levees and highways, and In general con-
tracing and construction work.
| ARTICLE III. The capital stock OF
| this corporation Is hereby fixed at the
sum Of ONE HUNDRED AND SIX
THOUSAND AND NINE HUNDRED AND
NOEOO DOLLARS (S106, 100000, divided
| into and represented by one thousand
and sixty nine (1,069) shares of the PAL
value of One Hundred Dollars (s1OO00l
/ n
| Q,0OO) shares of the par value of One
| Hundred Thousand Dollars ($1OO ,OOOOO)
| shall be cumulative, preferred stock, and
sixty.nine (69) shares Of the p par value luz
| of Sixty-nine Hundred Dollars ($69OOOO)
| shall be common stock.
Both preferred and common stock shall
be paid for in cash, or same may bt
issued at not less than par value. fol
leases, contracts, claims or other right:
actually received by said corporation.
The holders Of the preferred stock shall
be entitled to receive from the surplu!
yearly cumulative dividend of seven e.
per cent, payable before any dividend
shall be paid on the common stock.
The common stock shall be subject Il
the prior rights Of holders of the pre-
ferred stock as herein declared. IT, aftel
providing for the payment of full divi
dends for any year on the preferred stock
and for any balance that may remain du'
on the cumulative DIVIDENDS on Sucn pre-
ferred stock for preceding years, as wei
as retiring and csncelling such an amour
of preferred stock, as the Board of Direc
tors may deem 1t advisable to retire, un
der the authority hereinafter provided
there shall remain any surplus net profits
any and all such surplus net profits not
in the opinion of the Board of Direcors
required to provide for the maintenance
improvement, enlargement and operation
Of the property and business of the cor
poration, or for the payment Of its liza
bilities. shall be applicable to dividend
!. upon the common stock for such year
when, and as, from time to time, tn
same shall be declared by the Board o
Directors, which dividends upon the com
mon stock shall not be cumulative, Blu
, shall only be paid IL earned.
The holders of preferred stock shall
not be entitled to vote at any meeting
J of stockholders or election of directors
The voting power of the corporation shall
be and Is hereby vested in the holder
Z Of the common stock exclusively.
This corporation shall have the right
through its Board of Directors, from
! time to time, after one year from tn
I date Of this charter, to take up an,
cancel any Of the preferred stock whicl
may be issued, at its par value, with &C
cumulated dividends unpaid at the tim
Of redemption on any date of paymen
OF preferred stock dividends. This RICH
I shall continue until all Of the preferre
J 4 stock shall be cancelled.
: In the event of liquidation. or dissolu
| ton from any cause, all of the preferre
Z stock together with all accrued and uu