The herald., 1922-08-10
CHARTER OF NEW ORLEANS SUGAR
CLEARING ASSOCIATION, INC.

United States Of America, state OF Louis
lana Parish of Orleans, City or New Or-
leans. he il known. That on this Both day
of the month of June, in the year one
thousand, nine hundred and twenty-five
before me, Charles Rosen, notary pubhc,
duly commissioned and qaulihed IN ana
for the above parish, therein residing, ana
i'm the presence of the witnesses herein
after named and undersigned. personally
came and appeared, the several persons
of the full age of majority, whose names
are hereunto subscribed, who declared
that availing themselves of the laws OF
this state in such cases made ana pro-
yided they do hereby constitute them
selves their associates, successors ana as
signs. a CORPORATION for the objects and
purposes, and under the conditions anu
stipulations, contained in the 1olIoWlbs
articles which they hereby adopt as thelr
charter, to-wit:
ARTICLE IL. The name and title OF
said corporation shah be New orleans
Sugar Clearing Association, Inc.
. Its period of duration shall be nine
| ty- nine years from this date.
3 Said corporation shall have TOT the
purposes of the business to be carried on
nv it all the powers conferred Oy Jaw
mon CORPORATIONS, and shall geheraIs
exercise all the powers necessary TO carr
on said business. Said corporation snall
have full power to contract, sue, anu o I
sued in its corporate name; 10 nahe an. ~
use a corporate seal, and the Same "
break or alter at pleasure; to hold' re
| ceiye purchase, rent, or otner~lse -
! ouire and to convey, mortgage, hypotne
cate, lease. sell, pledge, or otherwise oi nd
| nose of property, real personal anu
mixed: to issue bonds. notes, or other oD-
| Uyations: to name and employ sun
managers, directors, onlcers, asens' 81
other employees, as the interest anu IN
| yenience of the corporation may reque
nd 70 make and establish such bylaws s.
: rules. and regulations for the manasehlens
and control of the business and AFFAIRS OF
the CORPORATION as may be deemeu heces-
| sary or proper. A..
ARTICLE Ill. The domlcile " nS
CORPORATION shall be in the lily oi -e"
Orleans, State of Louisiana. -,
| ,. All citations and other iegai Pr
cess shall be served on the presi1ent' anu am,
| in case of his absence or dlsaoiii'! up'"
the secretary treasurer.
| ,pTICIE uI-The objects and pur-
! noSos of this corporation and the nature
| Of the business to be carried on Dy ~, al al
| hereby declared to be TO purcnasS "nu ,o,,,;
| Surar for future delivery ana the acqu ,,
| sition nv purchase or otherwise ol IN
Facts made in accordance with the ny
| trws rules and regulations OF the LOUIS
lana Sugar & Rice Exchange, LOT .ne P 40
chase and sale of sugar Tor future
u~ary and the assumption OF the opHG5
,;ons arising Hereunder; the setting, au
;nSting and clearing for compensation "
such contracts; the buying, seLn iis.,r;,,
| ceiying carrying, storing anu neH i., ~
of sugar. but only IN eonne o,actis" of III,
| lornoration against loss in its business U!
ootahIisbinp a guaranty fund to be ralse.
nv contributions by and assessments up y,
stockholders as d may pe to do all thing
,1sc;dsntal to or in any way appertalnlp'
TO the above purposes.
,pTICJE W.. The authorized capl
taI stock of this corporation .o 900 M
fixed at eight thousand dollars S The ma
divided into sixteen sgna rcd dollars (S5OOOO
value of nve hunuieu
per share.
Fifty per cent (5O95) Of said amour
In he Subscribed before .he hling !.
these articles of incorporation anu s.nc
per cent (5ogS) OF , ssnG sf the corporatiO
ongages in business, and the renlainu -
wall he maid in within twelve moh'h
thereafter. -,o, oon;
! Tbo remainder of said authorized gap
; tal stock shall be paid for wne ne ma5ne
scr,bed Mt such times and in such nla a,l;,',
y. ,be hoard of directors may determine
The capital stock may be lncres sse
2 twentv-fiye thousand dollars w
OO0.O0). s a,
T ARTICLE VI. The business and al
, fairs of this corporation snali oe ,,ho sSa
by a board of seven directors VINO sn ~,
! h. elected as their terms respectively e1
nire. for a period of three years thae
Tho successors Of the two directors ps'
. sently named IN THIS CndIlef "
4 ser oar shall be elected at the annui
meeting in 1928 for terms Of three years
4 the successors Of the two directors pre-
emily named in this charter TO serve II
5 txo Years shall be elected at the annui
4 meeting in 1924 for terms Of three year
: and the successors of the three director
; presently named in this charter 10 ser
y FOR three wears, shall be elected at the al
= nual meeting in 1925 to seve for terms
. three years.
| The annual meeSng of this corporate
shall be held on the first Monday OF apr
of each year. SHOULD the said annu'
meeting fall on a holiday, then said NEE
ing shall be held on the next succeediI
day. The first annual meeting shall
held on the first Monday Of April, 1913.
2. The officers Of this corporation sha
consist Of a president, a vice-prestder
and a secretary treasurer. who need n
| be a stakeholder or member or dtrecto
and which office may be divided into tn
of secretary and treasurer; and the stoc
holders or directors may elect such 9th
iii