The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-24
CHARTER OF THE CHIPLEY COTTON
COMPANY, INC.

|
CHARTER OF THE CHIPLEY COTTOc
COMPANY, INC.
| United States of America, State o
| Louisiana, Parish of Orleans, lie il known
that Oh this 10th day of the month o
August, in the year OF our Lord one ihOus
ana nine hundred and twenty-five, (Ig22)
ana OF the Independence OF the Unite,
| States of America, the one hundred an,
iOrty-Seyenth, before me- W. Morgan Cur
| ley, notary public, duly COMMISSIONS,
and qualified, in and for the Parish of Or
! leans, State of Louisiana, therein residing
and i'll the presence OF the witnesses here
matter namd and Undersigned, PERSONAL!
| came and appeared the several persons
| whose names are hereuntO subscribed
who declared that, ayailing themselves o
the laws of this state relative to the or
ganiZation of corporations, particularly 1,
Act 26I of 1914 they have cOvenanted anC
| agreed, ana do by these presents cove
| nant, agree form and constitute them
selves, as well as such persons as ma!
! hereafter join or become associated viii
J them, into a corporation or body pOliti,
| in law, for the objects and purposes ana
| under the agreements and stipulation'
| following, which they adopt as their char
! ter, tO-wit:
| ARTICLE THE name and title of this
corporation shall be Chipley Cotton Com
pany, Inc, and under its corporate name
! il shall lenjOy succession for the full term
and period of ninety-nin years from and
AFTER lne uate neftOI, ana Sndll nave the
power and authority to contract, sue and
| be sued to accept and receive mortgages
| pledges or other hypOthecatiOnS; TO make
and use corporate seal and the same TO
break and alter at pleasure; to purchase,
receive, lease, hold or otherwise acquire.
and to sell. ALLEVIATE and convey as well
as mortgage and hypOthecate under its
corporate name property both real, per
Sonal and mixed: to borrow money and
make and issue bonds and other evidence
IN no hN- ri
gage and otherwise; to subscribe to and
hold stock in other corporations; to ac-
quire hold and reissue shares of its capt
tai stock; to carry out all of the objects
and purposes hereinafter set out; name
and appoint such managers and directors.
officers and agents as the interest and
convenience of said corporation may re-
quire; and to make and establish, as well
as alter and amend at pleasure, such by
laws, rules and regulations for the man
agement and regulation of the affairs of
the corporation as may be necessary,
proper and convenient; and generally to
do all such acts and things as trading
corporations are authorized to do under
the laws of the State of Louisiana.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans Parish of Orleans, State of Louis
lana, and all citations or other legal pro-
cess shall be served upon the president of
the company, or, in his absence, upon the
secretary of the company.
ARTICLE III-The objects and pur-
poses for which this corporation is Or
ganized and the nature of the business
TO be carried on by it are hereby de-
clared to be: To purchase or otherwise
acquire, and to sell or otherwise ALLEVIATE
or dispose of, and to mortgage, pledge,
hypothecate, export and deal in cotton
and other agricultural products, spot
and future; to do general cotton mer-
chandising and export business; to do
general commission, factOrage, mer-
camille, warehouse and manufacturing
business in connection with cotton or
any other staple product; to purchase,
sell and deal in stock bonds, commercial
paper, obligations and securities of other
individually firms, or corporations to
carry on a general investment and under
writing business; to purchase, use, cul-
tivate, hold, improve, sell, mortgage
pledge or otherwise deal in and dispose
OF real or personal property; to own,
tease or rent warehouse or warehouses
ana to do general warehouse, export
ing importing business; to exchange its
thereof, for property, stocks, bonds or
other obligations of other companies.
urms or individuals; and generally TO
do all acts and things necessary. con
venlent or appropriate to the accomplish
ment OF any of said purposes or germane
thereto, and generally to do any and
everything not prohibited by law.
ARTICLE IV-The presently author
lied capital stock Of this corporation is
hereby fixed at the sum of One Hundred
divided into and represented by Fifteen
hundred tl5OO) shares Of the par value
OF One Hundred ($1OO.OO) Dollars per
snare. The amount of said stock NAV be
increased to one million ($1,OOO, OOO.OO) dol
ARTICLE v-No transfer Of stocl
shall be binding upon the Corporation
unless and until made and recorded upon
It's books. No stakeholder shall have n
right to transfer or convey any of their
they shall have first made a written Of
Ter to the other then stockholders of the
corporation, to sell such stock to them
at the book value thereof. Book Value"
as a. used herein Is hereby defined to mean
the value at which the assets and liabiI-
ities OF the corporation have been in good
ialth entered upon its book. Such writ
ten offer shall be addressed to the other
.hen stockholders and to the corpora
tion itself, collectively, and shall be de-
livered to the office of the Corporation
not less than ten 10) days prior to the
application for transfer of the stock
4 me corporation shall transmit this offer
to the respective then stockholders and
the stock of the stockholders desiring
10 sell shall be distributed pro rata
among such Of the other stockholders as
desire to purchase, in the proportion
t da Mnich holdings of the stockholders
other. The corporation, shall have the
rlght TO refuse to transfer any stock So
iong as the shareholder demanding the
Transfer Is in any way, indebted to the
corporation, and the corporation shall
nave a lien, pledge and privilege on each
snare OF stock to secure any Indebtedness
lue by the shareholder to the cornora.
ion should any of the stock offered for
saie De not desired by the other stock-
a ~ within ten days from the recent
~ tne corporations office of the written
'neI 70 sell, then, and then only, shall The
ocknoIder desiring to sell be entitled to
nan rahsi pI, sueh undesired portion of the
' 'to price as such holder may see fit. No r
, TO such person or persons. and nj
nee Oh the provisions Of this article shall
ppear upon each certificate of stock isI
ueo Dy the corporation and shall be hind
ny upon every person now. or bereafter
,en a stakeholder in this CORPORA
ION, all OF whom agree to the provisions
ereo1 ana take such stock subject there
q, and all pledges, hypothecations or
.ner encumbrances of said stock. or deaI-
les with regard thereto, shall be subiect
the provisions hereof
hIiCLE VIAL the powers of this cor.
oraton shall be vested in and exercised 7
D0ard COMPOSED of fhraa 5;,onto~s | :