The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-06
CHARTER.

incidental to or in any way appertainiD;
to the above purposes.
i ARTICLE W.. The authorized CAPT
tai stock of this corporation is hereb!
fixed at eight thousand dollars ($S,00O.OO
divided into sixteen 16) shares of the pa
value of five hundred dollars (SjOO.O0
per share.
.. Fifty per cent (5OG) of said amount
shall be subscribed before the filing o
these articles of incorporation and fift,
/ per cent tJOEcD of said subscribed stOcl
| shall be paid in before the corporation
engages i'll business, and the remaindel
shall be paid i'll within twelve months
| thereafter.
The remainder of said authorized CAPT
tai stock shall be paid for whenever sub
scribed at such times and i'll such manner
as the board of directors may determine
| ). The capital stock may be increased
to twenty-five thousand dollars go
100000.
| ARTICLE VI. The business and af-
fairs OF TINS corporation snail be managed
ny board OF seven directors VINO snail
be elected as their terms respectively cA-
pre-, Tor Il period OF three years, that Is
the SUCCESSORS of the two directors pre-
Sently named in this charter to serve Tor
one year, shall be elected at the annual
meeting i'll 1923 for terms OF three years
the SUCCESSORS OF the two directors pres
emily named i'll this charter TO serve Tor
TWO years shall be elected at the annual
meeting in 1924 for terms OF three years I;
and the successors OF the three directors
presently named in this charter TO serve
Ior three years, shall be elected at the an
nual meeting III 1870 TO SIEVE Tor terms oI
three years.
The annual meeting of this corporation
shall be held on the nrst Monday o1 April
of each year. Should the SAID annual
meeting fail on holiday, then said meet
ing snail be held on the next succeeding
uay. The first annual meeting shall be
neld on the nrst Monday OF April 1913.
=. The officers OF this corporation shall
consist OF president, wee president,
ana a secretary treasurer, who need not
De stUCknOluer or member or director,
and which office may be divided into that
Of secretary ana treasurer; and the stock
nOluers or directors may elect such Other
onIcers as they deem proper.
3. Immediately, or as soon as practl-
cable after each annual election, the Ill
rectOrs shall elect from their own mum
per, the president and the vice president,
ana snail also elect the secretary treas
urer.
1. The names and post office addresses
of the first board of directors are as iOl-
lows: bishop e. Perkins, 2U3 y. Peters
ST., to serve three 80 years; Lewis n
onerck, 233 y. Peters ST., TO serve three
To- years; Emile y. Rainold, 3Ol y. Front
St, to serve three 80 years; Philip T.
\ alice, 2U4 Decatur ST., to serve Two ~
years; Charles T.. Fenner, SIS Gravler St,
10 serve two (2J years; JOhn BertOnlert,
10 Whitney Bldg, to serve one % year
los. e. LeBOurgeOls, l2l3 CarOndelet Bldg, |
% serve one ~ year. Emile \. KalnOld,
snail be president; Charles h. Fenner !
shall be vlce-president; ana John j. Shee- |
IAN, New Orleans, La, shall be secretary
treasurer.
Said officers and directors shall hold
,1Ce until their successors are elected
Ind qualified and the failure TO hold the
annual meeting and elect directors, shall
lot affect this cooperation nor impair Its
in any respect, but the III
eCtOrs and officers i'll oglce snail con
niue until their successors are elected.
.. All vacancies in the board OF dlrec-
ors may be filled for the uneXpired term
y the remaining directors.
d. The board of directors may make,
mend or repeal all by laws, rules or
equations, which they deem proper, Tor
he regulation of the corporation. All
between the corporation and
IS stockholders shall be conducted in ac-
ordance with such bylaws ana shall be
eemed to have been entered into subject
D all the provisions thereof.
Z All elections by the stockholders
hail be by ballot, at the office OF the
Dmpany. in accordance with such regula-
ons as the board of directors may de- {
ermine, and at every such election and
all meetings of the stockholders, EACH
hare of stock shall be entitled to one I
Ote, to be cast by the registered owner 1
: by his agent or representative by writ .
N proxy.
ARTICLE VII. This act of incorpor- {
ion may be modified, changed or al {
red, or said corporation may be dis
lived, with the assent of two-thirds OF I
&c capital stock outstanding at meet b
Y of the stockholders convened for tina: I
Irpose, and after fifteen days written no 1
ce has been delivered in person or given a
y letter mailed to the last known ad- ,
'ess of each stakeholder. The said no t
&c may be waived by the unanimous I
nsent of all the stockholders. e
2. In case of the dissolution of the cor a
,ration, its affairs shall be liquidated by b
lie or more liquidators elected by the II
ajOrity vote of the stockholders. with n
CHI powers, compensation and duties as Z
e stockholders may determine. il
ARTICLE Vino stakeholder shall II
er be held liable for the faults or con- n
acts of this corporation in any further p
m than the unpaid balance due TO the Il
rporation on the shares subscribed by Il
N, nor shall any mere infOrmality In a
ganizatiOn have the effect rendering this b
arter null or of exposing any stock I,
lder to any liability beyond the unpaid ID
lance on his stock. yr,
ARTICLE VIII-No stakeholder in the Il
rporation shall hDld more than one Ii
are Of stock. IL a stakeholder be in fl
bted to the corporation, the directors m
~ refuse to consent to a transfer of sc
stock until such Indebtedness is paid. pl
any stakeholder Is a member of a part W
rship, more than one member of which e'
all be stockholders Of the corporation. st
n members of such partnerships shall
entitled to only one vote for their er
nbined shares. Dividends in excess of m
per cent (6%) in any one calendar is
lr shall not be declared or paid. st
ARTICLE IX-The corporation may III,
rchase shares of its own stock. paying ar
the same out Of the surplus profits w
not otherwise. Such stock may be do
old for such price, not less than par. er
the directors may fix. The corpora oh
n shall have the preferential option to ad
rcbase at par. the stock of any stock of
der desiring to sell the same. and the
ion or right to purchase at par the =.
cS of any stakeholder who is not. or t ne
ii cease to lie. a Clearing Member" or
accordance with the definition of an
caring Member" contained in the by ~.
IS In case of the death of a stock ~
der, the corporation shall have the in,
ion to purchase his stock at par from 81,
executors or administrators. Such nn
lon to purchase may be exercised by 81
corporation within ten (10) days after
desire to sell his stock, or or
,never the stakeholder shall not be a tn
caring Member" or sixty (6O) days NV
r notice Is writing of the appointment co
qualification Of his executors or VA
in,
RTICLE X-The subscribers hereto thi
e respectively written opposite their Ac
les the amount Of stock subscribed by Sti
m In this corporation, so that this the
OF incorporation may also serve as th'
original subscription list of the cor Po
alton, and they have stated their post Dee
&c addresses SO as to conform with Act as
Of 1914. ter
nus done and passed at my office in wh
CITY OF New Orleans, state of Louisi- Oh