The herald. [volume] (New Orleans, La.) 1905-1953, 1922-11-09
CHARTER.

in office shall remain in office until
| their successors are eletced and quail
| flied. Due notice OF another elecuon
shall forthwith he given as above pro-
vided for. and such notices OF election
shall be continued to be given until an
election is had.
ARTICLE VI. At its first meeting
each Board of Directors shall elect
from it's membership a President a
Vice-President. a Secretary and
Treasurer. The offices of Secretary
and Treasurer may be combined by the
Board of Directors and held by one
person. The Board of Directors may
from time TO time, as II sees III, APP
point or employ such other persons or
employees as 1t shall deem necessary
The Board of Directors shall have full
power and authority to fix the salaries
of all officers and of all such other
employees as it may deem necessary,
and to make and establish, as well as
to alter and amend bylaws, rules and
regulations necessary and proper for
the conduct and management of, the
business and affairs of this corpora
ton not inconsistent with this charter.
1t shall also have full power and
authority to do all acts and things
reasonably necessary for the proper
carrying on of the bushes of this cor
poration, and to carry out the objects
and purposes for which this corpor-
alton is organized. including the Dor
rowing of money necessary for the
ordinary business OIL lIlS
corporation: and. through the President
or some other duly authorized person
or persons, to execute and issue there
for notes or other obligations OF this
corporation on such terms as In IT'S
judgment may be advantageous. II
shall also have full power and authority
to issue and deliver full paid shares
of stock of this corporation for money.
labor, services, property or rights act
ually received by this corporation, and
to fill all vacancies that may occur in
it's membership. A majority of the
directors present, either in person or
by proxy, shall constitute quorum
for the transaction of any business,
and at any meeting of the board any
director absent therefrom may be rep
resented by proxy.
ARTICLE VII. Until the first annual
election of directors to be held under
this charter, or until their duly quail
fled successors are elected and installed,
the Board of Directors of this corpor-
alton shall be composed of Messrs. III.
G. Hill, William E. Penick and Roberts
the said H. G. Hill is Nashville. Ten
neSsee, and the postoffice address of
the said William +. Penick and Roberts
c. Milling is New Orleans. Louisiana.
Roberts c. Milling shall be Vice
President, and Mr. William L. Penick
shall be Secretary-Treasurer.
ARTICLE VIII. This charter may
be amended and the capital stock of
this corporation may be increased or
provided by law as now or hereafter
in force.
ARTICLE TX. No stockhoider of this
shall ever be held liable or
responsible for the contracts or faults
of this corporation in any further sum
than the unpaid balance on the stock
for which he has subscribed, nor shall
any mere informality in organization
have the effect of rendering this charter
null or of exposing a stockholder to
any liability other than as above pro-
vided for.
Thus done and passed in my office
in the city of New Orleans, Louisiana,
inabove written, in the presence OF
X. E. Milling, Jr., and Jas. G. Schillin,
witnesses, who hereunto sign
their names with the said appearers
and me, Notary, after due reading of
the whole.
n, Original subscribers: H. G; Hill Gby
W. E. Penickl. Nashville, Tenn. 1855
shares (s12,500.00); w. Z. Penick, New
Orleans. La, 1245 shares (s12,400. 00):
R g; Milling, New Orleans, La. 1 share
Witnesses: r. E. Milling. Jr. Jas.
G. Schillin.
EUGENE d. SAUNDERS,
I, the undersigned Recorder of Mort
cages in and for the parish of Orleans.
state of Louisiana, do hereby certify
that the above and foregoing act of
Inc, was this day duly recorded in my
office in Book 1879, Folio Sc.
New Orleans, La, Sept. %. 1922.
ROBT. SCOTT,
Deputy Recorder.