The herald., 1912-07-25

sell, convey, mortgage, hypothecate, pledg,
or otherwise cucumber Its property, real
personal or mixed or any part thereof.
1t shall have power TO borrow money, anC
to issue notes, bonds and other evidence:
Of Indebtedness from time TO time and Il
secure the payment OF the same or any par
thereof, by pledge or hypothecatiOa of prop
erty, or by mortgage or other evidences Of
Lien placed upon its property, franchises
real, personal and mixed, or any part there
Of.
Ii shall have power to elect officers ant
directors, TO name and appoint its mana
gers, agents and other employees, and tC
TX their compensation, and to discharge
the same at will; to establish and adopt
sach bylaws, rules and regulations as may
be deemed eIpedient and proper for the con
duct and management Of its property anC
business and the same TO alter, amend and
abolish at pleasure; to make and use a
common or corporate seal, and the same tC
break and alter at pleasure, and generally
to do and perform all acts and things re-
quisite aud necessary to carry out the OBJ
jects and purposes OF this corporation.
ARTICLE III.
The dOmicile OF this corporation shall be
ia the City of New Orleans, State OF Lou.
isiana, and all citations and other legal pro.
cess shall be served on the president and in
his absence on the vice-president, and in
the absence of both OF said officers on the
secretary treasurer OF this corporation.
ARTICLE III.
The objects and purposes for which thi.
corporation is formed and organized and
the nature of the business to be carried on
by IL are declared TO be: To acquire, re-
claim, improve and cultivate landed prop
erty; also to acquire by purchase or lease
and every species of property. real and per-
sonal, necessary or convenient to be so ac-
quired and used in order to more efectually
carry out the main design of the organi-
ARTICLE ".
The capital stock OF this corporation is
hereby fixed at the sum OF fifty thousand
dollars ($500 00), divided into and repre-
sented by FIVE hundred (5OOC shares OF the
par value Of one hundred dollars $500. 00D
each, TO be paid for in money, or for labor
done or services rendered, or such stock as
may be issued or delivered for lands and
received by the corporation for its corporate
purposes at such valuation and upon such
terms for said stock as the board of direc-
tors may determine and direct from time
to time TO be expedient. The capital stock
OF the corporation may be increased or re-
duced by proceedings take in the manner
prescribed by law
The stock OF this corporation may be is
sued for money, for labor done or services
rendered, or for lands or other property,
which may be thus paid for or exchanged
and made over to the company. The valu-
alton Of any and all lands rights contracts
labor or services and property, movable,
immovable and mixed, corporeal or incor-
poreal, accepted and received by the corpor-
alton for its corporate purposes in payment,
exchange or otherwise, for any OF the stock
and shares OF this corporation and fixed by
the board of directors upon such terms and
conditions for the issuance OF such stock
shall be conclusive evidence OF such valua-
ton; and any and all persons, partnerships,
associations, corporations or creditors deal
Ing with this corporation are concluded
thereby. and any and all persons, partner
ships, associations, corporations or creditors
dealing with this corporation hereby waive
any right or cause OF action against the
original or subsequent owner or owners Of
such stock and shares issued to II, him. her
or them in payment or exchange for labor
done or services rendered, or for such lands
rights. credits, contracts and property valued
by the board OF directors as aforesaid. and
each, every, any and all contracts, contract
or undertaking made by or entered into with
this corporation shall be subject to this pro-
vision OF this charter
All OF said stock shall he full paid and
when issued and delivered
and transfers tn reof shall not be binding
on the company unless recorded in its books
and shall be further subject to such rules
regulations and conditions as the board Of
directors may prescribe.
This corporation shall begin Its business
as soon as three thousand dollars (s3, OOO)
or Its stock shall have been subscribed.
ARTICLE V.
The corporate powers OF this corporation
bylaws and the management and control
of Its affairs shall be vested In and exer-
cised by board Of directors, composed Of
not less than three or not more than seven
one share OF the capital stock Of this COM
pany, majority Of whom, represented
either in person or by proxy shall constitute
a quorum for the transaction OF all bust
ness.
Aay director In his absence from any
meeting of the Board of Directors shall
nave the power to appoint in writing any
other director or stakeholder as his proxy.
meeting.
The directors shall be elected annually
by ballot by the holders of the stock on the
nrst Tuesday in June of each year. Each
person or by written proxy. one vote for each
share of stock owned by him, and all cleo
tions shall be held under such rules and
regulations as may be adopted by the board
or directors. The directors thus elected
shall continue In Office for one year and
until their successors shall have been duly
elected and qualified. Any failure to elect
Officers or directors shall not be regarded
as forfeiture of the Charter. Any vacancy
occurring on said board of directors shall
be filled by the remaining directors for the
term.
The following persons shall be and con-
stitute the first Board of Directors Jacob
Israel Albert NJ. Darragh and Michel Levy,
4 majority OF whom shall constitute a quo
rum, with Jacob Israel as president, Albert
NJ. Darragh, vice-president and Michel Levy,
secretary treasurer, who shall be the first
officers OF the corporation and shall serve
until the regular meeting on the first Tues
day In June, 1913, or until their success
sors shall have been elected and qualified.
ARTICLE VI.
Liability OF the stockholders of this cor
poration for the contracts or faults OF said
corporation is limited TO any unpaid balance
that may be due by them respectively on
heir subscriptions. No mere informally in
this act Of Incorporation shall render this
Charter void or expose stockholders to liza
Dility beyond the amount of their unpaid
ARTICLE VII.
This Charter may be mended or this cor
ooration may be dissolved with the assent
Of the stockholders holding a m jority of
the outstanding stock at a general meeting
convened for that purpose and at least ten
lays notice shall have been given to the
stockholders through the mail addressed
70 their respective places Of business
his charter or otherwise, the affairs Of this
corporation shall be liquidated BY three
to be elected at the meeting
such liquidation.
This charter shall serve as the original
list, the undersigned being the
original subscribers to the capital stock of
his corporation In the amounts and for
he number Of shares opposite their respect
We names and signatures.
Thus done and passed, In my office at New
orleans, Louisiana, on the day and date
,erein before written and in the presence Of
L. r. Eisenberg and L. P. Bryant, Jr,, COM
'etent witnesses, who hereunto sign their
James with the said appearers and me, no
airy, after due reading Of the whole.
Original signed: Jacob Israel, 80 shares
M. Darragh, 20 shares; Michel Levy, i
hare. witnesses: L. r. Eisenberg, L. p.
Bryant, Jr.