New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-05-09
CORPORATIONS,
4 NHA6VBR.. ACKNOWLEDGEMENTS HARTRH


,HA1TkA. .............:........C CHATTER.
Be it kn:wn that on this sevenseenth day of tho
month Of April in tho year of our Lord one thou
independence Of the United states Of Am"rics the
one hundreSth, before me. Gustave L. Garieur,
in and tor the parish and city aioreesid. thersii
residing. ana in tho presence Of the Witnesses
hereinafter named and undersigned, personaily
came and appeared Messre. Lucien Mollo Jose
Antonio Fernandez. Victor Demourelle, D. Martin
villavaso Gustave Pitard, Gustave Cart and John
Of Directors iless onej Of the New Orleans Credit
Foncier Association, corporation duly org%oized,
under the Jaws Of this sta by set passed before
November, 1871, and having ito domicile in this
city Of New Orleans; the said appears herein &C.
ting in their Aforesaid capacity, by virtue Of 9
eorpo. alton Ct their general meeting Of the th,rd
day Of april 1876. . caytiied copy whereof is here
Which said appearers declared in their said ca.
pacity that in order to carry into effect and caus
ing to be recorded tie resolutions adopted at .
corporation, held on the said third dry OF April
1876, pursuant TO q call made by the Board Of Di
recto5s specially for tho purpose Of taking into
amendments proposed to the charter act Of In.
corporation of the New Orleans Credit Foncier Ar
the eighteenth day OF Novembt r. 1871, by the
Board OF Directors at their sitting Of the
first day Of March, M ls Tnce sS call
Time s and the New Orleans Bee, newspapers pub
lithed in the city OF New Orleans, from the tb1rd
day Of March last until the day of holding said
g, ne al meeting. az the whole will more fully az
pear by referehce to the annexed certified Copy Of
the proct edings Of SAID general meeting OF the
stockholders, wherein stockholders owning and
repre- senting in the aggregate 1l00 shares Of the
capital stock OF said cOrpol alton being the whole
number OF shares represented at aid gene al meet
ing, voted in favor OF the adoption Of the said
amendments.
They, the said appearers acting in their afors,
Il init IN hVyt hna hale ~
the stockholders OF the said New Orleans Credit
Foncer Association, declare, proclaim and pub
Incorporation Of the New Orleans Credit Foncier
Association which have been adopted at the said
general meeting of the stockhoide OF the said cor
pOrsticn, to be hencefOrth binding ana obligatory
upon the stockholders of the raid corporation and
all others W hom the same sha or may concern,
said New orleans Credis Foncier Association "a, as
passed before the undersigned notary. on the
eighteenth day Of November, 1871 is accordingly
ain, nde0 - as to read as follows, to wit:
ARTICLE
sEcrIos l. The n anne style and tie Of tho said
eorpcra,on shaIl be r' TMs NEW ORLEANS CBEDir
sad corporation 10 hereby established In the city
# New Orleans
the date of it, original charter or act "firecrpo,
tiop, to wit: from the eighteenth day Of Novom
Der, 1871 unless its atfiirs should be sooner liqu
date On the vote aad with the consent of thee
f,urths of all the stock OF said association, repre-
ssnted at tae general nesting OF the stockholders
thereof to b. convened for that purpose after
sixty days notice in two of the newspapers pub
Gshed IN The city of New Orleans:
SEC. g. 1t shall have a SEE and this device upon
Louisan - with the name Of the association and
the date Of the orig nal act Of incorporai ion.
SEC. 4. The president Of the ASSOCIATION OF, in
The proper officer on whom citation and ali other
legal pi ocess may be servel
ARTICLR II.
The object and purposes of this association are
decIAI ed to be the following to witt To purchase
to sabdvide, bnild upon and improve the same.
and then to sell and convey the same in auch
a manner As to afford homes to persons
to became owners thereof by makiog small
monthly payne nts in accordance with the valve
PAYMENT Of the purchase pricr granting ths N The
privilege Of paying in cash or on such credit as
shall or may be agreed on between them and the
association, provided that the said credit shall
under 10 Giro Imstances exceed the term of ten
years; and also, at the request of any good sol.
and whenever convenient and advisable for said
assoc ation to do 50, to build on such lands, for
the account Of the owners thereof on the terms
here: nabove granted to the purchasers Of proper.
ty belong ing TO said association; to make repairs
on properties belonging to good, solvent and re-.
sponsible par: les; to make exchange. of proper
ties; to purchase properties already impro,e ed at
pubic or private sale, and to carry Oh general
rea! estate agency.
ARTICLE III
SECTION l. The capital stock of the sid associa-
ton is hereby xed at the sum of eightysix thou
sand ami thirty dollars divided into sixteen hrn-
deed and twenty four shares, OF fifty dollars each,
and nine hundred q, d exty-six scIips of FIVE
dollars each, is.ued on the tenth day of October.
1872.
SIC. 2. The capital stock may be increased to
| two hundred and fifty thousand sllOre, divided
the time and in the manner provided TOR by Sec
ticn thrse u this article aud the new stock hat
crease ., Of CAPITA shali psrieS.;e in and be
titled to only the pr fits calculated on the amount
o be added to the capital stock as fixed by sec
hundred and fifty thousand dollars; and the hold.
ers of the orgna shares shall participate in ard
be entitled to the profits calculated On the whole
amount of tae capital stock of the association.
SIC g. T. II per &C mt Of each share If stock sub
| scrib. for shall he paid cash at the time the
l cent additional ehall be paid cash respectively,
each and every following mon ID until the final
| payne Mt Of the stock subscribed for.
1 SEC. 4. No certificate of stock ehaI be issued
i until the same 10 Paid in full
SKC. 5. In case of neglect OF refusal to pay an
| tins article, after due notice in writing BY the
secretary of the association, and without further
putting in default the stock Of the party Degec CT
aiming 10 the shall be forfeited to he
| said association; provided that the Board of Di.
rectors may extan, me payment OF any install
deem proper; provided, also that the 81 ock SO for
feited may be TRANSIT. rred with the Mt of the
| SEC +. All transit. rs Of stock shall be made or
the books Of the association at it's office in the
| city of New Orleans, only By the pNrty in whose
name il stands or his duly author lied agent, and
on surrender of the Ct rtifiC tie; and no transfer
| OF stock by the owner thereof shall be binding
upon the association unless made in the manner
above directed; nor shall any transfer be made Oh
be allowed as long Is any matured Indebtedness Il
! the assoc alton exists on the part OF the holder
but the stock of holder SO indebted shall reInaiI
l pledge to the association until such matured il
| oebtedness is fully discharged.
| ARTICLE
SECTION l. At the end of each f; seal year. which
is hereby xed on the thrtIeth day ofSsptember II
each and every year, the preside Mt shall cause to b
| made a statement OF the operations cf the asso
| citation, and shall cause the to bs publishe,
| iG two of the newspapers Of this city, once
| week, for four We eks successivelv.
l SEC. 2. At the cid OF each and every fiscal year
| whenever the operations of said association shal
Justify of the same dividend of not less than tel
ee 1s Sna nsvaha to t S Inc at
| time, and in the manner TO be determined by tn
| B6ard of rectors, the stockholders OF the asso
| catisr to participate i'll the said dividend in tn
names provided for by section two of altici
| three.
ISOLATION, n reserve fund shall be created, to con
sst OF all the profits of the association over NJ
above the dividend of ten per cent to be paic t
the stockholders prov id sd for by section two
this al ticle, and of all the profits of the associa
| ton xheneve the same shall not justify The sal
divid hi of ten per,ce pt and shall always O3 neil
as protec ton for The capital stock until the sal
| reserve fund shah have accumulated to the eS
l tent of fifty thousand dollars, sfter which extr
| dividends may be declared to the stockholders.
| SEC 4. No dividend shall be paid while Their
I exists any matured indebtedness, of whateve
| KIDD, against the holder, but the same shall b
passed the ere dit of said Indebtedness until sal
| sfed. No dividend declared shall bear interest
| and any dividend unclaim d for the term of tire
| wears from the date declared shsu be fortified
| the assocat on and carried to the credit of III
| reserve furd after the publication Of|the sam