The herald., 1912-04-04
ARTICLE V.

All the corporate powers of this company
shall be vested in, and the management and
control of its affairs shall be exercised bv
Il board or directors composed of three
stockholders, which number may be in
creased 10 no more than five at the diScra-
ton of the board of directors, a majority
OF whom shall constitute a quorum for the
transaction of all business. Said directors
except the first board Of directors who shall
serve Tor period of three years or until
october, 1915, shall be elected every year
on the first Monday Of October. Each stock
holder shall be entitled in person or by
written proxy TO one vote on every share
or stock owned by him and standing In his
name on the books of the company. All
elections shall be held under such rules and
regulations as may be determined by the
Doard OF directors, and after at least ten
days notice in writing OF such election shall
nave been given 10 each stakeholder at his
last known address, or by publication in
one of the daily newspapers for at least
Ten days preceding such election. The direc-
tors thus elected shall continue in office for
one year Except the first board of direc-
tors, which shall serve until the election TO
be held in October, 1915, as hereina bove
stated or until their successors shall have
been duly elected and qualified No fail
ure TO elect shall be regarded as a forfeit
ture OF this charter. Any vacancy occur
ring on said board of directors shall be
hlled by the remaining directors for the
unexpired term. The said board of direc-
tors shall likewise elect the additional mem
bers In case they should determine to in
crease the number of the board of directors,
as ABOVE provided Said board of directors
shall, at its first meeting after its election,
elect from among its number, a president
one or more yice-presidents, a secretary and
treasurer. 1t may combine the two last
mentioned offices, and may even elect a sec
rotary, who need not be a stockhoIuer. Said
board OF directors shall have the right and
power 10 appoint and dismiss such clerks
managers and other EMPLOYEES of the cor
Including no ybn L.
stOckholder, as conditions may Justify
or the business of the corporation NAV re-
quire: The tenure of office OF all employees
OF this corporation shall be during the
pleasure Of the board of direcsots.
ARTICLE VI
No stakeholder shall ever be held liable
n responsible for the contracts, faults or
debts OF this corporation, nor shall any
mere infOrmality In its organization have
the enect OF rendering this charter null or
OF exposing stockhOlder to any liability
beyond the unpaid balance due on the shares
Of stock owned by him.
ARTICLE VII.
This act Of incorpora ton may be changed.
modified or altered, or this corporation NAV
be dissolved with the assent OF the stock
holders owning a majority OF ali the stock of
the corporation, at a general meeting con-
vened Tor that purpose, after at least ten
days notice In writing Of such meeting shall |
have been given TO each stakeholder as pro-
vided for in Article OF this charter: In |
case of the dissolution OF this corporation |
by the expiration of its charter or otherwise |
the stockholders shall elect three liquidat- |
ors from among their number who shall have
full power and authority TO liquidate and
settle the business and affairs of the said
company. In case Of the death or inability
OF any OF said liquidators, the survivors or
iiquidators shall appoint a sue
cessor to him.
ARTICLE VIII.
Until the election to be held in 1915. the
named stockholders shall constI-
tute the first board OF directors, viz John
I Holmes, Gaspar Pietri and Frank Simone
with the said John Holmes as president,
Gaspar Pietri as yice-president, and Frank
SimOne as treasurer.
This corporation shall become a going
concern as soon as three thousand (S3 ,OOOJ
dollars OF its capital stock shall have been
subscribed for.
Thus done and passed at my Office in tn.
city OF New Orleans, on the day, month
and year, heerin first above written in the
presence OF Theodore A. Beck and Anthony
Troyani, both OF this city, competent wit
nesses, who have hereuntO signed their
names with the said appearers and me. no
tary, after due reading OF the whole.
Original Signed; John T; Holmes. 20
shares: G. Pietri, - shares; Frank Simone
10 shares. II. A. Beck. Ant. Troyani.
ROBERT LEGIER, Not. Pub
|, the undersigned Recorder OF Mortgag es
for the Parish Of Orleans and State Of Lou
isiana, do hereby certify that the above and
charter of the New Cosmopolitan
Realty Company was this day duly recorded
In my office, in book 1OJ1, folio :.
New Orleans, La, March 70: 1912.
(Signed) EMILE LEONARD, by. r.
A true copy from the original act.
ROBERT LEGIER, Not. Pub
inch 2s apr IL IS % may 2