The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-23
CHARTER.


/ the event of their failure to exercise their
/ right under said option as herein proyid.
/ ed. the stakeholder so Offering his stock
for sale shall have the right to dispose
! of same in the open market.
ARTICLE Iy-The corporate powers of
this corporation and the full management
! of its business and affairs shall be vested
! in and exercised by n board of directors
composed of three stockholders. each of
whom shall own in his own right. at least
one full paid and unpledged share of the
capital stock; majority of which said di-
rectOrs shall constitute a quorum for the
transaction of all business.
Election for directors by the stock
holders shall be held annually on the sec
ond Monday in February at the dOmicile
of the company. under the supervision OF
two commissioners to be appointed by
the president after notice thereof, to be
delivered personally or by depOsiting in
the post Office. properly addressed to each
stakeholder, at least fifteen days before
such meeting in accordance with other
provisions of the law.
All elections shall be by ballot and a
majority of the votes cast shall elect, and
each share OF stock shall be entitled 10
one vote. either by proxy or in person.
Each board of directors shall. at its first
meeting after its election elect from its
number a president. a yice-president and
IA secretary-treasurer; who shall hold Of
flee until their successors shall have been
duly elected and qualified. The board
shall have power in it's discretion TO unite
two or more offices. and the same to con-
fer upon one person.
The said board shall also nave full
power and authority to borrow money.
and through its president, or some other
duly authorized agent of agents. to exc
cute mortgages, issue bonds, notes or
other obligations In such amount and on
such terms as in their Judgment may be
advantageous, and generally to do all
things necessary for the proper carrying
on of the business of said corporation.
Any vacancy occurring in said board OF
directors shall be filled by the remaining
directors for the uneXpired term.
The first board of directors shall con-
sist Of: Philip Forschler. residence No
GID MOntegut street, New Orleans, La.
Allen ii: Sweet, residence Monroe, La.
and Philip \. FOrschler residence No. SO
MOntegut street. New Orleans, La. with
the said Philip ForschIer as president.
Ailen H. Sweet as vice-president and
Philip FrOschler as secretary trea surer
who shall hold office until the second
Monday in February 1923, or until their
successors shall have been duly elected
and qualified.
ARTICLE V-The stock subscription of
Philip FOrschler for one thousand shares
of the capital stock and of Allen III. Sweet
for one thousand shares OF the capital
stock of this corporation is to be paid for
by the sale and transfer by them 10 this
corporation of all their right. title and in
terest OF every nature and kind of in and
TO the following descfibed patents. to-wit
Patent No. 45S.355 issued by the United
States Patent Office for patent on a
coin saving bank together with all amend
ments or additions to said patent or pa
tent rights whatsoever
ARTICLE VI-The charter of this cor
poration may be amended at meeting
of the stockholders called for that pur-
pose by vote of twO-thirds of all its
stock; but change of objects and pur-
poses as fixed herein shall not be made |
without vote of all the stock Heretofore
Issued. nor shall any increase in the capt. |
tai stock in excess of the amount named |
be made without three-fourths vote of all |
of its outstanding stock. |
In the event Of dissolution of the |
charter the same shall be made by the |
method and manner as provided by law |
ARTICLE vino stakeholder of this
shall ever be held liable or |
responsible for the contracts or faults of |
mis- corporation in any further sum than |
the unpaid balance due on the shares of |
stock owned by him, nor shall any mere
in organization have the ef- |
feet Of rendering this charter null or of |
exposing any stakeholder to any liability |
stock.
ARTICLE vIII-The subscribers here
10 have written opposite their names the
mount of stock in this corporation sub
'cribed for by each of them, so that this
act OF incorporation shall also serve as
he original subscription list of said cor
DOratiOn.
Thus done and passed in my notarial
'nlce in the City of New Orleans afore-
'aid, In the presence of Ralston s. Cole
md Edgar q. Gould, competent witnesses
If lawful age and residing in this city.
who hereunto subscribe their names to-
sether with the said parties, and me- no.
airy, on the day and date set forth in
he caption hereof.
(ORIGINAL SIGNEDl.
PHILIP FORSCHLER, ct ais.
Witnesses: Ralston s. Cole, Z. G.
W. A. WENCK.
Notary Public.
i. the undersigned Recorder of Mort
'ages in and for the Parish of Orleans,
tate of Louisiana, do hereby certify that
he above and foregoing act of incorpora-
ion Of the Sweet Forschler Glass Com
ANY, Incorporated. was this day duly
ecorded in my office in book 1858. folio |
New Orleans, La, January =. 1922
(Signed): ROBT. SCOTT,
Recorder of Mortgages. ,
! true copy: I
W. A. wENCK.
Notary Public.