The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-03
CHARTER.

CHARTER.
templated by the charter. This corpora
tion shall conduct it's business in other
States and In the territories and in FOR
eign countries, and have one office or
more; and may hold, purchase, mortgage
and convey real and personal property
either in or out Of the State Of Louisiana.
without in any particular limiting any
Of the objects and powers of the corpora,
ton. 1t hereby expressly declared ana
provided that the corporation shall have
the power to issue bonds and other obll-
cations, in payment for property pur-
chased or acquired by 1t, or for any other
oh ject In or about its business; to mort
gage or pledge any stock, bond or other
obligations by IL issued or incurred TO
guarantee any dividends or bonds or con-
tracts or other obligations; to make and
perform contracts of any kind and de-
scription; and in carrying on its business
or for the purpose of attaining or further
ing any Of the objects, TO DO any ana an
other acts and things; and to exercise
any and all powers which a cOpartnershlp
or NATURAL person could do and exercise,
and which now or hereafter may be au-
thorized by law.
ARTICLE III-Tne capital stock OF the
said corporation shall be S5,O00O0, divided
into and represented by so shares OF the
sum of $4,000 each, which said stock
shall be paid in cash at the time OF sub
scriptiOn. or the same may be issued, at
for property or rights actually received or
purchased by said corporation, or the
same may be issued. fully paid, for money
advanced. and for such valuable consid-
Grafton or services as the board OF direc-
tors of said corporation may determine !;
provided, that no stock shall be issued
until the consideration therefor has been
received by the said corporation.
All shares Of stock when issued shall
be signed by the President and the Sec
Of
capital stock shall be transferred except
upon the books of the corporation and
until the certificate of the shares to be
transferred shall have been delivered to
the corporation Tor satisfactory proof of
its loss or destruction, according to law,
and duly cancelled.
This corporation shall commence doing
business as soon as fifty l5Ofo) per cent
Of the capital stock shall have been sub
scribed for.
The board of directors shall have the
right to determine how much stock shall
be issued.
ARTICLE Iv-The names and post
office addresses of the incOrporatOrs and
the number of shares of stock for which
seyerally and respectively We do hereby
suscribe are as follows:
Maurice Whitehead, New Orleans, La
Is shares; NJ. 7. McNeely, New Orleans
La, 13 shares; Morris z. LeCOmpte, New
Orleans, La, shares; W. p. Brown, New
Orleans, La, shares.
All the corporate powers of this cor
poration shall be vested in and exercised
by a Board Of Directors. The board shall
consist of four directors, a majority Of
whom shall constitute a quorum for trans
acting all business. The Board Of Direc-
tors shall be vested with full power and
authority to make all contracts, purchases
and sales. and adopt all bylaws, rules
and regulations for the government of
the business and affairs of the company,
and alter. amend and change the same
MI nf isah "a
all officers, agents and employees, fix all
| salaries, and generally do and perform
all things necessary In the transaction
of the business and affairs Of the COM
board shall be filled by the remaining
directors from among the stockholders.
The first Board Of Directors of this
corporation shall consist of: Maurice
vice-president; Morris p. LeCompte, sec
rotary -treasurer, and W. p. Brown, who
shall hold their offices until the first
Monday in January, 1923, or until their
successors are duly elected and qualified
On the first Monday in January, 1923
and annually thereafter, an election fer
directors shall be held at the office OF
the company, under the supervision OF
| three 49, commissioners to be appointed
| by the president, and the directors then
elected shall take their seats Immediately
and shall hold office until their successors
are duly elected and qualified. Each board
shall elect its own officers, which shall
consist of president, vice-president and
secretary-treasurer. All corporate elec-
tons shall be by ballot, and a majority
OF the votes cast shall elect. either in per-
son or by proxy. Written notice of cleo
| tons shall be given to each stakeholder
| by the secretary treasurer at least ter
| t10) days prior to election.
| ARTICLE V-This act of incorporation
may be changed, modified, or amended
or the capital stock may be increased. by
and with the consent Of two-thirds (2-3l
or the stockholders. A change in the OBJ
1ects and purposes may be made only by
a vote of all the stockholders; but this
| corporation may be dissolved by a vote
of the holders of two-thirds (2-S) of the
pose.
ARTICLE vI-wheneyer this corpora.
non is dissolved, either by limitation OF
It's charter. or from any cause its affairs
snail be Hquidated by three (3) Iioui6a.
tors to be appointed from among tn,
hoIders or the stock at the meeting con
vened for that purpose after ten QO) days
prior notice shall have been given by tn,
secretary to each stakeholder Said com
lmissioners shall remain in office until III,
affairs of said corporation shall hay
been fully liquidated. In case of tn
death or any commissioner, the survivors
snail continue to act
ARTICLE VINO stakeholder of tbi
corporation shall ever be held liable o
responsible for the contracts of fault
1880. IA any lurlHer sum than the un
paid balance due to the cornoratjon %,
the shares owned by him, nor shall an,
mere informality in organization have m
erect of rendering this charter null. no
OF exposing a stakeholder to any iiabilit,
beyond the amount of his STOCK
thus done and passed In my notaria
I oiflce In the city Of New Orleans. Ia
aforesaid. in the presence Of Anna Der
oeusse and verlie Bertrand, competen
I witnesses Of lawful age and residipa \
TINS city. who hereunto subscribed thei
: names, together with said parties and ms
, notary, on the day and date set forth q
the caption hereof A'i'n II
Maurice Whitehead, NJ p. McNeely. "
r. Brown, Morris p. LeCompte "
; witnesses: Anna Berbeusse, Verlie Ber
BENZ. w. HERMAN.
Jr,r =, Notary Public.