The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-21
CHARTER OF
EXEL CHEMICAL MANUFACTURING
CnMpANV

United States of America, State of
Louisiana, Parish Of Orleans, City o:
New Orleans. BE it known that on this
thirty -first day of the month of August,
in the year of our Lord. one thousand
nine hundred and twenty-five, and of the
independence of the United States OF
America. the one hundred and forty
seventh, before me, Gabriel Fernandez,
Jr.. Notary Public in and for the parish
of Orleans, state of Louisiana. duly COM
missioned and qualified, therein residing,
| and in the presence of the witnesses here
matter named and undersigned, person
ally came and appeared the several per-
sons whose names are hereunto subscribed.
| and all residents of this parish and
| state who severally declared that, avail
ing themselves of the provisions of the
| laws of the state of Louisiana, In such
cases made and provided and more par.
ticularly of Act No. 267 of the General
| the year 1914, they have covenanted and
| agreed contracted and bound themselves,
| as well as all such other persons as may
hereafter become associated with them,
| TO form themselves and constitute a cor
| poration and body polite in law Tor the
objects and purposes and under the stip-
ulations hereinafter set forth, which they
adopt as their charter, to-wit:
| ARTICLE /. The name and title of
| this corporation shall be Excel Chemical
Manufacturing Company, Inc, and under
| its corporate name IL shall have power
and authority to have and enjoy success
|
from the date hereof. To contract, sue
and be sued; to make and use a cor.
porate seal, and the same to break ana
alter at pleasure; to hold, receive lease
property, both real, personal and mixed
| and the same to sell, mortgage, pledge
hypothecate, lease or otherwise dispose OF
| to contract, make and endorse Dills OF
| exchange and promissory notes, TO issue
bonds; to name and appoint such ofncers
and agents as the interest OF said cor
poratioH may require; to make all neces'
sary bylaws for the proper manage.
ment OF its affairs. to acquire stocks ano
bonds of other corporations; to increase
or diminish its capital stock, and gener-
ally to do and perform In TINS state OF
any other state all such things and ex,
ercise such rights and powers permitted
by law to corporations
ARTICLE H. The objects and pur
poses for which this corporation Is organ
lied and the nature of the business tG
to be: To manufacture chemicals, paints
yarnishes and such other materials and
ingredients 1t may require; to represen,
as sales agents such other manufacturer
and jobbers as the Board of Directors
may deem necessary and expedient.
ARTICLE Ill The domicile Of thi'
corporation shall be In the city OF New
Orleans, state Of Louisiana, but 1t mai
states or foreign countries. All citations
or other legal process shall be served OF
the President, or, In his absence, on TIT
Vice President, or. in the absence Of both
upon the Secretary Treasurer.
Il ARTICLE Nv. The capital stock o
this corporation shall be Seven THOUSAND
7 90 400 Dollars, to be divided into seyent!
, (70) shares of the par value OF One Hun
dred 90 400 Dollars ($10OOOl each, whici
shall be paid for in cash or Its equivalent
or for property or labor performed, o
service actually rendered to the corpor
alton.
. may, in the discretion Of the Board
Directors, be Increased to the sum
This corporation shall be going con
soon as fifty per cent OF the capital stoc
, shall have been subscribed Tor ana PAL
! into said corporation.
ARTICLE v. All the corporate power
Of this corporation shall be vested In an
!, exercised by Board Of Directors com
posed of not less than three stockhold
. ers who shall be elected by the STOCK
holders at the annual meeting OF On
CORPORATION which shall be on the mrs
1 Tuesday Of September Of each year.
A majority Of the stockholders presen
E or represented shall constitute Quorui
: for the TRANSACTION OF puslnsss. .,.u n
E President, Vice president. a. Secretar
T and Treasurer. They shall be eiecte
: annually by the Board Of Directors fro,
offcers shall be elected for n term Of on
: wear, but shall hold office until thel
successors are elected and quaiifed.
7, Any vacancy In the Board or Directol
! or offices from whatever cause snai .
e Allied from among the stockholders by IN
remaining members Of the Board Of Dire'
!, tors.
: share shall be entitled to one vote, an
J. the majority of the votes cast shall eiec
II Votes NAV be cast either In person or o
written proxy, provided that no stSc
: shall be voted at any meeting which nj n,
! been transferred upon the books OF u
d corporation within thirty days PRIOR
i ARTICLE vi. No stakeholder shall eve
Il he held liable for the contracts, faults
e debts OF this cooperation, nor shall an
: mere informality In its organization nav
II the effect of rendering this charter Vol
or exposing a stakeholder to any liabili'
y beyond the unpaid balance due on II
: shares owned by him.
No stakeholder shall have the right
d dispose of. ALLEVIATE or otherwise encun
s her his holdings Of stock In this corpo
J. alton without first notifying the said co
u poration In writing fifteen days befo
: so doing. and the stockholders OF sal
II CORPORATION shall have the right ana pri
10 ilege Of availing themselves OF the noi'
q ings or stock so offered.
n ARTICLE VII. The hrst board
n Directors shall consist Of John l.. Tnoml
4 son. James C. Motion and g. Miles snare