The herald., 1922-10-12

Louisiana, Parish of orleans, City of
New Orleans. BE it known that on this
eighth day of the month of September,
1922 before me, Charles ROsen, Notary
Public. duly commissioned and qualified
in and for the above parish, and in the
presence of the witnesses hereinafter
named and undersigned, personally came
and appeared the several persons, all or
the full age of majority, whose names
are hereuntO subscribed, who declared
that, availing themselves Of the laws OF
this state in such cases made and pro-
vided, relative TO 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,
towit:
ARTICLE /. The name and title Of
this corporation shall be Lee Flonacher.
Inc.
ARTICLE III. Its period Of duration
shall be ninety nine years from this date.
ARTICLE III. The domicile of this
corporation shall be in the city Of New
Orleans, parish Of Orleans, state OF Louis
lana, and 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.
ARTICLE ". The objects and pur-
poses for which this corporation is organ
lied and the nature of the business TO
be carried on by 1t are hereby declared
| to be: To manufacture and buy and sell
mems and boys clothing, and generally
to do any and 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 it 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
l hnx-a fnll tn To
| be sued, in its corporate name; TO make
and use a corporate seal, and the same
| to break or alter at pleasure; to hold, re-
ceive, purchase, rent or otherwise acquire.
and to convey, mortgage. hypothecate,
lease, sell, pledge or otherwise dispose
of property, real, personal and mixed, In
Guiding trademarks, 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-
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
proper.
ARTICLE vi. The capital stock Of this
corporation is hereby fixed at the sum
OF One Hundred and Fifty Thousand Dol
lars $3.50 OOO.OO), divided into fifteen hun
Hundred Dollars (sIoOOO) per share and
consisting of two classes, to-wit:
Fifty Thousand Dollars $3.50, 900 ;0O)
thereof shall be preferred stock and One
Hundred Thousand Dollars (slOO,OOOOO)
common stock.
The preferred stock legally issued and
outstanding shall be entitled by prefer
ence and priority over the common stock
20 yearly dividends when and as declared
by the Board Of Directors out OF tht
net profits or earned surplus, at the rate
of eight per cent (S9o) per annum, and
no more, payable on the first day Of
October. Said dividends shall be cumu'
and shall be limited t To said da,s sga
shall be paid or set aside for the common
! stock until all the dividends due on the
J preferred stock shall have been fully
paid.
The Board of Directors may on any
, dividend date, out Of the net prohts OF
, earned surplus, retire any or all or IN,
preferred stock upon giving sixty looI
I days prior written notice by mail or II
, record, by paying One Hundred and Fly,
, Dollars (s10500) per share, together witt
all dividends due thereon to such diviaent
date; and from and after said DIVIDEND
date all dividends on said stock sinai
cease Said redemption shall be proper
tionate to the holdings of all OF the out
7 standing preferred stock. Should an!
: preferred stakeholder fail to present 70
standing certificate Of stock, the share
r SO redeemed shall be cancelled on IN
books and the amount due thereon nell
for the owner, subject to his order, o.
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 legali
= issued and outstanding shall be paid {
5 the holders thereof in full, with all IN
x paid dividends. before any payment shal
! be made on the common stock.
The common stock legally issued an
9 outstanding shall be entitled to dividend
l as and when and to the extent declares
by the Board of Directors out OF the ne
: profits or earned surplus after the pay
: nent of the agreed dividends on the pre-
e ferred stock. and after the settlng as 10
I of such amount as may be required 10
the retirement of any preferred stock a
4, may be decided by the Board OF Dlrec
= tors.
In the event Of the dissolution or liqui
dation Of the corporation, after the pay
e ment of the debts of the corporation an
y the payment in full Of the par value Q
y all the preferred stock legally issued an
: outstanding. with all accumulated div
e assets of the corporation shall belong
T and be paid and delivered to the holder
of the common stock.
S Each share of the capital stock legal
= issued and outstanding, potn preIerIe
: vote in all elections and at all meeting
of the stockholders, to be cast by On
h registered holder thereof or his duly COT
d stituted agent or proxy.
This corporation may increase or d.
crease its capital stock in the mann'
K prescribed by law. The preferred car
9 ital stock may be increased to One HUI
e bred Thousand Dollars (S1O0OOO.OO). III
o common capital stock may be increase
to Two Hundred Thousand Doiiai
It $500, OOO.OO).
II The Board Of Directors may at an
y time issue any unsubscribed stock upo
e payment therefor in accordance with la
i, 10 such person or persons as the Boar
y may deem proper.
&c No transfer Of stock shall be bindin
on this corporation unless made upon i
% books by the surrender Of the outstan!
l. ing certificate properly endorsed by u
registered owner or by his duly. const
r tuted agent or legal representative, an
re in accordance with such rules and reg
d iations as the Board Of Directors ms
= prescribe.
ARTICLE VII. The business and a
fairs Of the corporation shall be manag.
of by a Board Of five (5) directors, WI
, shall be elected by the stockholders
Z. the annual meeting, which shall be he
I. on the second Monday Of September
I'd each year. Each of the directors sh'
EF IN