The herald., 1922-07-06

CHARTER OF OANACA STEAMSHIP
COMPANY. INC.
United States Of America, State of Louis
lana, Parish of Orleans. City or New Ut
leans. lie it known. that on this sixteenth
day Of the month of February, 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 sixth: Before me
Henry L. Dart. Jr., a notary public, duly
commissioned and qualified. in and for
this city and the Parish of Orleans. there
in residing. and in the presence OF the Wit
nesses hereinafter named and under
signed. personally came and appeared: the
| persons whose names are hereuntO sub
scrbed, who declared that availing them
selves Of the provisions of the laws of the
State. relative to the organization of cor
| pOratiOns, they have cOvenanted and
agreed and do by these presents, covenant
and agree, bind, form and constitute
themselves, as well as such other persons
who may hereafter join or become asso-
ciated with them, into corporation and
body polite in law, for the objects and
purposes, and under the agreements and
| stipulatiOns following, to-wit:
| ARTICLE THE name and style of
this corporation shall be Oaxaca Steam
ship Company, Inc. and under this name
| it shall have and enjoy all the rights. ad-
| vantages and privileges granted by law
| to corporations; il shall exist for n period
OF ninety mine years, il shall have power
to contract, sue and be sued III its cor
porate name; to make and use a corporate
seal and the same TO break or alter at
pleasure: TO hold. receive. purchase. con-
vey, mortgage, hypothecate. or pledge
property both real and personal; to issue
bonds. notes and other obligations; to
purchase, acquire and own stocks. bonds
and securities in other corporations; to
have and employ managers. directors.
officers, agents and other employees, as
the interests and convenience of said cor
poration may require; and to make and
establish such bylaws, rules and regu-
latiOns for the corporate management and
control of the affairs of said corporation.
as may be deemed necessary and eXpe-
dent.
ARTICLE 1.-THE domicile of the said
Orleans, Parish of Orleans, State of
Louisiana. and citation and other legal
process shall be served on the president
and in his absence IN the vice-president,
in case of the death of the president of
this corporation or in the event of his in
ability to act as such. his duties and func-
tons shall devolve upon, and be fulfilled
by the vice-presidenr.
ARTICLE III-The objects and pur-
poses for which this corporation is Or
ganized and the nature of the business TO
he carried on by it are hereby declared
to be: To construct, purchase, charter.
lease, hire. or otherwise acquire, and to
man. equip, maintain and operate. steam
ships. steamboats,, towbOats, ferry boats,
sailing vessels. barges and other water
craft of whatever description for trans
portatiOn and tOwage of freight and pas
sengerS for hire and to engage in a gen
eral transportation business, upon and be-
tween places on rivers, lakes, bays and
other waters and upon the high seas. to
ports and places in foreign countries. and
carry on general express business, in
connection with the operation of said YES
sells; to construct purchase, lease. hire or
otherwise acquire warehouses, landing
places. canals, docks. wharves and other
facilities and to improve navigation on
rivers, bayous and other waters, as the
business of the company may require; TO
construct, hire, lease or otherwise acquire
and to operate dry docks and floating
decks. suitable for handling and repair
ing vessels, and to build and repair YES
sells of every description; to construct,
purchase, hire, lease or otherwise acquire
and operate on land, Omnibusses, autOmO-
biles. trucks, teams and vehicles of every
nature and description for the transpOr-
tation of freight and passengers, to and
from the landing places of the vessels
operated by said company. and such other
points as the board of directors may from
time to time determine to be necessary
for the business of said company and
generally to do and perform all things
germaine and incident to, or usual in,
the business and affairs hereinabove au-
ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum of
five thousand ($5,OOO.OO) dollars, divided
into fifty 500 shares of the par value of
shares shall be paid for in cash. or in
the purchase or exchange of property, and
the said capital stock may be increased
to the sum of one hundred and twenty /
five thousand ($125 ,OOOOO) dollars. All
shares of stock shall be full paid and non
assessable. No transfer of stock shall be
binding upon the corporation. unless made
upon its books and all certificates of stock |
Sha n no Si Inv off m
be designated BIZ the board of directors. |
All stock in this corporation shall be
held upon condition precedent, and un-
der contract and agreement in the nature |
of vested rights that all such stock is so
held and possessed subject to the rules |
and provisions for the transfer of same |
hereinafter set out, towit:
On No sale or other transfer of shares
Of stock in this corporation shall be valid |
until and unless the opportunity has been |
first afforded the shareholders of record |
at the date Of such transfer. sale or other |
alienation, to purchase such stocks at
book value. plus twenty-five per cent. the
value to be ascertained in the manner |
herein prescribed. The right to acquire
said stock hereby first vested in the other |
stockholders of record shall follow the
stock into any hands to which it may pass
and may be exercised against the holders
thereof within ninety days from the time
any sale or transfer has been offered TO be
entered on the books OF the corporation.
1t shall be the duty Of any holder of
stock in this corporation who intends or
desires to sell, transfer, ALLEVIATE or other
wise dispose of the same to give ten
days written notice of such intention or
desire to the board of directors of the cor
poration, who are hereby constituted
agents of the other stockholders for the
purpose of such notice, and said board
81 directors shall give immediate inform
alton thereof, In writing, to all the ether
of record. Before the ex-
Diration Of the ten days from thesreceipt
'f said notice by the board Of directors,
any shareholder OF record, mag offer to
purchase, and may acquire TIE right to
purchase, said stock by notifying the
board of directors in writing and there
lfter shall deposit the prize of said stock
n cash with the corporation on or before
The expiration OF eighty days from the
asst mentioned date.
Upon the receipt OF the first mentioned
notice. the board of directors shall ad-
Use the person. owning said stock, his
gent or representative, to join with said
BOARD in giving the value OF said stock.
which value. shall be established on the
'asis of the last annual or semi annual
tatement or report Of the corporation and
he last monthly trial balance preceding
he dase Of such notice, and the value
hus found and established shall cOnsti-
ute The book-value Of said stock.
Y within twenty -four hours after such
'1tice to the owner, his agent or repre-
entative, does not join with the board in
q 70 ltGh fnfr h. nal NAAtI