New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-04-26
CORPORATIONS.


I hAkIkR..."...... ..CHARTkH
| Be it known that on this seventeenth dsy of tn
| sand eight hundred and seventy.six. and of-th
indepeneence OF the United States Of America Ii
me- Gnsays t. Garasu
in and tor the psrsh and city asoressii. thsrei
residingsa end In the presence % tho watneeee
ans NAMED apd
Antenio F. rnandez. Victor Dsmourslle, b. Marti
vilavaso Gustave Pitard, Gustave Cart and job
Of Directors iess onej Of the New Orleans orsd1
folcier Association, corporation duly organized
under the avs Of this Sta e. BY act passed befor
November, 1871. and having ito domicle in thi
city Of New Orleans; the said appesrs herein &C
ting IN their aforesaid capacity. BY virtue Of
corpol alton at theft general meeting Of the thlr
day of April 1876 certified copy whereof is hers
Which said appearers declared in the ir said Ga
ing to 30 recorded the resolutions adopted at
corporation. held on the said third day OF April
1876, pursuant to Call made by the Board Of Di
rectoIs, specially for the purpose Of taking int
consideration and voting upon the adoption O
amendments proposed to the charter or act of in
CORPORATION of the New. Orleans Credit Foncier As
the ds1
Board Of Directors at their sitting Of thu
nrst day Of March. 1876. which said cal
W0o oANCHIIcCu ny uOlCcS III Tue new CT can
Time and the New Orleans Bee, newspapers nnb
lthed in the city o: New Orleans, from the third
day OF March last, until the day Of holding sait
g neral meeting. as the whole will more v ap
pear by refereb ce to the annexed certified ,py q
the proce edings of said general meeting OF this
stockholders, wherein stockholders owning and
representing In the aggregate 1l08 shares Of the
capital stock Of said cOrpOI ation being the Ole
plumber of shares represented at lid eenei al meet
ing, voted in favor Of the adoption of the SAID
They, the said appesrers sacting in their afore
said capacity, do BY these presents, on behalf q
Foncer Association, declare, proclaim ard pub
lish the said amendments to the charter or act O
incorporation Of the wOrleans Credit Foncie,
genel al meeting Of the OF the said cor
POration, TO be hencefOrth binaing and obligatory
upon the stockholders ofthe esid corporation and
all others whom the same sha or NAV concern
and tina: tt charter act of nct rporatiOn of he
said New orleans Credit Foncier Associat,on al
eighteenth day Of November. 1871. is accordios
aunt ndeo 50 as to read - follows. TO wit:
ARTICLE
sKcrIoN l. The name, style and tie OF the said
corpo ration shall be THE NEW ORLEANS CBEDiT
FONCIER ASSOCIATION, and the domic,le + The
sale corporation 10 hereby established in the city
SIC. 2. 1t shall exist for twenty fl We years from
the date Of its original charter act Of orpo,
tioD t. wit: from the eighteenth day of Novem-
dat on the vote aad with the consent OF thu ee.
f'urths OF all the stock Of said alton repre-
scented at the general meating of the stockholders
thereof. to be convened for that PURPOSE sf es
eiXty days notice in two OF the newspapers pub
lished IN he city of New Orea ANS.
the shall be the coat of arms of the Stai ~
Louisiana. with the name of the as sociatiop and
the date Of the orig ma act of incor pora,ion.
SIC g. The president Of the association or in
his abse nee the secretary is hereby desisnatel.as
! he proper officer On whom citation and ali O.ber
Legal process may be served,
ARrrCLE'n.
The object and purposes of this association ara
decl ned to be the following, Is wit: To 1mTchasa
lands within the mits Of the city of Eew Orleans
to subdivide. build ur0h and improve the SAME
and then to sell and convey the same in such
manner as to afford homes to persons
ovrers soa to email them
payme nts in accordance wi til tine vslCe
OF the properly, and in brier to facilitate the
privilege Of paying in cash or on such credit ss
shall or may be- agreed bel ween them and the
ssociatlon, provided that the said Gre dit sbali
years; and also, at the request of any coed. soi-
vent ana respOr BILE owneIs OF larGs in This atty
and whenever convenient and advisable for said
association TO do So. to build on such lands. for
the account o. the owners thereof on the terms
ere Dove granted to the purchasers of proper.
. Delon gns to SAID association; to make repairs
IN properties belonging to good. solvent and re-.
'pOnsiele par ies; 10 make exchanges. of nropeT.
lee; TO purchase properties already improved at
,ubuc Or private sale, and to carry on q general
cal estate agency.
ARTICLE III.
SECTION l. The capital stock of the said associa.
ion is hereby fixed at the sum Of eishtysix thou.
ana and thirty dollars divided in o sixteen hun.
Lied and twenty four shares, OF fifty dollars each
md nine hundred ard eixty.six sc1ips of fiye
10 lars each, issued ON the tenth day of October.
SEC. 2. The capital stock NAV be increased n
wo hundred and fifty thousaod dallors. diyid ID
nte shares OF NIFTY dollars each to be paid for al
ion throe Of this article; aud the new stock that
hall or may be issued to repres Alt the aid in
Iease OF capital, shall psr'icipye in and be en-.
tiled to only the rr fits calculated II the amount
D he add d to the capital stock as fixed by acc.
ion one of this article; t, rase the same to two
uhdrsd and TT Y thousand dollars; and the hold !
rs OF the origina shares shall pai tcipate in and
g entitled to the prof calculated on the while
mount n Of ie capital stock of the as ,ciation.
cribs fer shall he pa d ash at the time The
oard OF Directors shall Diet am. ne, snd t.n ner
ent additional shall he paid cash respectively.
aoh ant every following month until the nm ii
Az me mt OF the stock subscribed for
SkC: 4. No certificate Of st0ck aha be issued
ntil the same ia paid in full.
SEC. 5. In case of Neglect or refusal TO nav my |
stallme MT, as provided tor in section three of !
us article, after due notice in writing by the |
,cretary OF the association and without firther
ltllns in default the stock Of the party neglect.
e or refusing to pay, and all interest and benefit
erta'nlns 10 the same shall be forfeited to The
i'd association; provided that the Board of IN |
ctOrs may extern the pay men. Of auy install. |
ent due and called for for such time as they nav |
EN- proper; provided also, that the rock 10 for. |
red may be transit FRED with the cons L of the
)Ald of Directors
SEC. s. AL transfers of stock shall Be made on
o books OF the association 1t its Office in the |
~ OF New Orleans, only by the party in whose |
me IL stands or his dulv authorized agent, and |
surrender of the certificate; aud no transfer |
stock by the owner thereof shall be binding
on the association u1ess made in the manner |
owe direcfed; nor shall an, transfer be made or |
aAowed as long as aay natured indebtedness to |
assoc atom exists on the part of the holder: !
the stock of holder 80 indebted shall remaio |
'dged to the association until such ma tured in
bt< dness is fully discharged.
ARTICLE ~.
'FCTIoS l. At the end Of each fisca, year. which |
lefeby fixed Oh the thirIeth dag of epte mher IN
IN AID every year, the preside NJ shall cause to be
de 3 6 atem ent OF the Oper at4Ons of the asso-
tion, and shall cause the same to bs published
Two OF the newspapers of this city, once q
{ K, for four weeks successfully.
nc. 2. At the end o. each and every fiscal wear .s
enever the operations of said association shall |
tfy OF the same, a dividend of not less than ten
cent shall tie decla ed on the amount of the q
OK paid H. PAYABLE to the stock holders at the |
ARD OF Direc sOrs, the stockholders of the asso |
tien to part cipate in the .ssid dividend in the
n n proviafd for by section two Of a. ticle
&c 3. In addition to the ca ptal stock of the "a.
latio4, a reserve fund shan Dc created, to con-
OF all the profits of the association over and | q
we the dividend of ten per cent TO be paid to
siockh0ders as provided for by section two of |
article, and OF Gil the prof g of the assOciar |
! whenever the same sha y not justify the said | ,
III nd OF ten per c. mt, and shall ALWAYS b. held d
proteo ton for the capital stock until The said
rye fund sha'l 'have accumulated to the ex-
dends may be declared to the stockholders |"
81. a. No dividend shall be paid while there ! y