The herald. [volume] (New Orleans, La.) 1905-1953, 1922-05-04
CHARTER.

All elections shall be by ballot, each
share shall be entitled to one vote, and
the majority Of the votes cast shall elect
At all meetings each stakeholder snail
be entitled to one vote, either in person
or by written proxy, for each share OF
stock standing in his name on the books
Of the corporation; provided that no
stock shall he voted at any meeting
which has been transferred upon the
books within thirty days prior to the
said meeting.
ARTICLE VI No stakeholder shall
ever be held liaslc for the contracts,
faults or debts of this corporation, nor
shall any mere infOrmality in its organl-
zation have the effect of rendering TINS
charter void. or of exposing stockholder
10 any liability beyond the unpaid bal
ance due on the shares owned by him.
ARTICLE VII. The first Board or
Directors shall consist of l.. VI. Dalgarn,
President, whose postoffce address Is 5o5
Louisiana building. New Orleans, La;
John II. Stakeholder, Nice-President, 4SOl
pauphine Street New Orleans, La, and
+. W Abel Secretary Treasurer, 40
Caffin Avenue. New Orleans, La.
ARTICLE VIII. No stockholder may
sell assign or transfer his stock in this
CORPORATION unless thirty (3O) days pre-
vious notice in writing of such intention
to sell assign or transfer said stock be
given to the company previous to SAID
sale assignment or transfer. ana upon
such notice the Board of Directors shall
have the right to purchase the stock ut
its book value by reference to the bal
ance sheet of the last fiscal year. upon
| failure Of the Board of Directors 70 pass
| a resolution before the expiration or
| thirty 800 days to purchase said stock
/ ut its book value, said stock may be sold
| in the open market.
! ARTICLE IN This act of incorpora-
| ton may he changed. modified, altered
or amended or this corporation may he
| dissolved with the assent of stockholders
! owning three fourths of the stock of the
! CORPORATION present or represented at n
/ general meeting conCurred for that pur-
| nose and after at least ten days written
notice has been given through mail to
each stakeholder at his last known place
of residence. In case of dissolution by
| the expiration of this charter or other
wise. the stockholders shall elect three
! liduidat0rs from among their number to
settle the business and affairs of the cor
| poratiOn.
| In case Of death or disability OF any
of said commissioners or liquidatOrs, the
survivors shall elect or appoint n sue
ceSsor to him; and II they fail to agree
on his appointment. then they shall wind
up the affairs of said corporation.
Thus done and passed at my office IN
the presence of II. VI. Ansley and r. ;,
Gardiner competent witnesses, who have
hereunto signed their names with said
appearers and me. Notary, after reading
| Of the whole.
Original signed: T.. NJ. Dalgarn, !
share: John II. Stakeholder, 19S shares
F. W. Abel. l share.
Witnesses:
II. NJ ANSLEY.
F. S. GARDNER.
G. DE LUCAS.
Notary Public.
7 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 incorpor.
alton of the SIMPLEX SLEEVE VALVE
COMPANY, INC. was this day duly re
corded in my office in book 12eS, folio
159
New Orleans, March 1s. 1922.
ROBT. SCOTT.
DIX. Recorder.
C. DE LUCAS.
Notary Public.
u Apr 6-May IL