The herald. [volume] (New Orleans, La.) 1905-1953, 1911-01-12
ARTICLE II.

by liked In the city of New Orleans in this
State. All citations and other legal pro-
cess shall be served on the president, and.
in his absence, on the yiCe-preSident and,
in the absence OF both, on the secretary
Of the corporation.
ARTICLE III.
The object and purpose and business Of
this corporation to be carried on are here
by declared 10 be: to buy, acquire, owI, re-
claim, cultivate, develop, improve, build
upon, lease, and sell lands and real estate
TO mortgage, hypothecate and pledge the
same; to buy, sell and manufacture lum-
ber; to own and operate dredges and other
machinery; to cut and operate canals and
drain swamps; TO own and operate saw
mills; to carry on a brokerage business In
real estate, bonds, stocks, mortgage notes
and other securities and generally to do
and perform or engage in any other bust
ness, undertaking or enterprise connected
with, growing out Of, or incidental to, any
OF the purposes hereinaboye set forth.
ARTICLE ".
This corporation shall have power to
contract, sue and be sued: TO make and
use corporate seal. and the same to
break and alter at pleasure: to hold, re-
ceive, lease, reclaim, purchase and convey,
as well as mortgage, hypOthecate' and
pledge. property, both real and personal; TO
issue bonds. notes and other obligations or
negotiable instruments to do all acts and
things necessary to carry out the objects
and purposes OF said corporation; to name
and appoint such managers. directors, Off
GERS, agents and other employees, as the
interests and convenience of said corpora
ton may require or demand; ana to make
and establish such bylaws, rules and reg
ulatiOns for the management and control
Of its business and affairs as may be
deemed necessary or expedient. and the
same to change and alter at pleasure.
ARTICLE V.
The capital stock Of this corporation is
hereby fixed at one hundred thousand dol
lars (S100,000.0O), divided into one thou
sand G,O0O) shares Of the par value Of
one hundred dollars (S100.00) each. Sub
scriptions to the capital stocA shall be paid
for in cash, at such times and in such in
stallments as shall be fixed by the Board
of Directors, or in services performed for
the corporation.
No stockholder shall have the right to
sell or otherwise dispose OF his stock with
out first Offering same for sale to this cor
pOraton, and granting the corporation an
option for thirty days to purchase same at
its book value.
This corporation shall have the right to
begin business sooB five thousand
dollars OF its capital stock has been sub |
scribed and paid for. The subscribers here
to have set opposite their respective names
the amounts of their subscriptions to the
stock of this corporation.
ARTICLE VI.
All the corporate powers OF said corpor |
alton shall be vested in Board Of Direc- |
and the first Board shall I've composed OF
Il. L. Brady, Geo. A. Simms and ]. S.
Brady, with E. p. Brady as president and
and Geo. A. Simms as vice-pres
dent and secretary. Said board shall hold
office until the nrst Monday in December,
1911, on which day, and annually there
after, the election of directors shall be
held at the office of said corporation, under
the supervision Of three commissioners, to
be appointed for that purpose by the
Board Of Directors. Ten days prior notice
IF the meeting for such election shall be
given by mailing notice to the last known
residence or place of business Of each stock
holder. The election shall be by ballot and
the directors shall serve until their success
sors are elected and qualified. A majority
)f the votes cast shall be required to elect,
and one vote shall be allowed to be cast
FOR each share Of stock represented BY the
holder thereof or by proxy.
The failure to hold the election for d.
rectOrs on the date above fixed therefor
shall not operate a forfeiture Of this char
ter. but the incumbent Board Of Directors
shall cause another election to be held after
thirty days notice thereof. Any vacancy
occurring in the Board OF Directors from
any cause whatsoever shall be filled by the
directors, and majority OF said
directors shall at all times constitute a
quorum for the transaction OF business.
After each election Of the Board Of Di-
rectors at its first meeting. it shall elect
from its own number a president, vice
president, a secretary and treasurer. The
office of president and treasurer and those
Of vice president and secretary may be held
by the same individuals respectively. Said
Board OF Directors, from time TO time, shall
appoint such officers clerks or other agents
rs may be deemed necessary for the busi
ness and purposes Of said corporation, and
dismiss the same at their pleasure. Said
Board Of Directors shall have full power
and authority to make and establish, as
we'll as to alter and amend, any and all
bylaws, rules and regulations for the sup
port and management of the affairs and
business Of said corporation as Ii may
deem necessary and shall moreover be vest
ed with general corporate powers.
This charter may be modified or amend
ed. or the corporation may be dissolved
with the consent of three-fOurths of the
stock in amount, represented at a general
meeting of the stockholders for that pur-
pose after ten days previous notice shall
have been given by publication In a daily
newspaper published in the City OF New
Orleans
Whenever the dissolution Of the corpora
ton shall become necessary by reason OF
the action of the stockholders, by limita-
ton or otherwise, its affairs shall be i'm
placed in liquidation under the
charge and superintendent Of three com
missioners to be elected by the stockhold- |
ers at a meeting convened after ten days |
prior notice published In a daily newspaper |
in New Orleans; and said commissioners
shall remain In office until the liquidation |
OF the Affairs Of the corporation, and any |