The herald. [volume] (New Orleans, La.) 1905-1953, 1912-07-18

ed by law TO corpora tions, and the power and
/ authority TO enjoy succession and have cor
porate existence for and during the period
| or ninety-nine (99D years from the day and
date hereof, unless sooner dissolved in the
manner hereinafter provided.
IL shall have power and authority to con-
| tract; 10 sue and be sued to make and use
corporate seal, and the same to break,
| alter or amend at pleasure: to hold receive
purchase, convey. deliver. mortgage, hypothe-
cate and pledge property both real and per
sonal; to issue notes and other obligations.
negotiable instruments, or evidence of debt /;
10 have and employ such managers, agents
directors. officers and employees as the in
terests OF the said corporation may require /;
and to make. and establish as we'll as to al
ter and amend from time to time such by
laws, rules and regulations, for the corpo-
rate management and control Of the affairs
OF the corporation, as may be deemed neces-
ARTICLE III.
The domicile OF this corporation shall be
In the city of New Orleans, state Of Louisi-
ana, and all citations and other legal pro-
cesses shall be served upon the president
and In the absence of the president, upon
the vice-president, and in the absence OF
both of these, upon the secretary treasurer
or this corporation.
ARTICLE III.
The objects and purposes for which this
corporation Is organized and the nature of
the business to be carried on by IL are here
by declared to be:
To buy, sell, exchange, lease and generally
10 deal In rear estate, improved and unim-
proved; 10 build, construct, operate, main
tain, lease and sell dwelling and department
houses and stores of all kinds and descrip-
lions. To maintain a general real estate
right to manage estates, to act as agent.
broker or attorney in fact for any person or
corporation to make and obtain loans upon
real estate, improved or unimproved and to
and loans and all interests and claims AZ
fecting the same; and to have the same in
sured against fire and other casualties. To
Improve ease q, mSanage, operate SELL mortgage
real or personal and take mortgages and as
signments of mortgages upon the same.
Inc capital stock of this corporation Is
hereby fixed at the sum of ten Thousand and
0O-1OO dollars, divided into and represented
Dy one hundred shares of the par value of
one hundred dollars each.
said shares of stock shall be issued at pa
only, and when issued shall be paid for In
cash, or property, or the equivalent thereof
All shares Of stock shall be issued as full
pald and worcestershire, and no transfer Of
unless recorded on its books.
This corporation shall be a going concern
as soon as three thousand dollars 49,
scribed and paid for, in cash or its equfva-
lent.
ARTICLE v.
All powers of this corporation shall be
OF It's affairs shall be exercised by a board
OF directors to be composed of three stock
holders and two Of the said board OF direc-
tors shall constitute quorum for the trans
action Of the business and affairs of this cor
pOration.
The board Of directors shall be composed
OF Israel Gunst, Eugene Buckmaster and
stephen A. Mascara Each board shall elect
Its own officers, which shall consist of A
president, vice-president, and a secretary
treasurer.
The officers Of the first board of direc-
tors shall be: Israel Gunst, president Eu-
gene Buckmaster, vice-president, and Ste
phen A. Mascara, secretary-treasurer, and
the said board of directors shall serve and
remain In office until the first Monday in
July, 1913, on which said date and annu-
ally thereafter, the board of directors shall
be elected by the stockholders at a meeting
called for that purpose.
All directors and officers shall hold ONCE
until their successors are elected and quali-
ned, and any failure to elect directors shall
not be regarded as forfeiture Of this char
ter.
All such elections shall be by ballot. con-
Quoted at the Office of the corporation, un-
der the supervision Of three commissioners
to be appointed by the board of directors
each stakeholder shall be entitled to one vote
for each share Of stock owned by him, to be
cast in person or b proxy; and a majority
OF votes cast shall elect. Any vacancy oc-
curing In the board Of directors shall be