The herald. [volume] (New Orleans, La.) 1905-1953, 1912-06-20
CHARTER.
OF INTERSTATE LAND COMPANY.

Lord one thousand nine hundred and twelve.
before me, Charles Schneidau, a notary pub
lie duly commissioned and qualified in and
for the parish OF Orleans, state of I4Ouisi-
ana, and in the presence OF the witnesses
hereinafter named and undersigned, person
ally came and appeared the parties whose
names are hereunto subscribed who sever
ally declared that, availing themselves of
the provisions of the laws Of this state rel
ative to corporations, and especially of the
provisions of Act No. as of 1904 OF the Gen
eral Assembly OF louisiana they have COW
enanted and agreed and by these presents
do covenant, agree and bind themselves. as
well as such other persons as may here
after become associated with them, to form
and constitute a corporation and body poll
tic in law for the purposes and objects and
under the stipuations. articles and condi-
lions following, to;wit:
ARTICLE |.
The name and title Of this corporation
shall be INTERSTATE LAND COMPANY
and 1t shall exist and continue for a term
or ninety-nine years from the date hereof.
1t shall have its dOmicile at New Orleans,
IN the parish of Orleans, state Of louisiana
The president of said corporation, or, in
his absence, the secretary treasu thereof
shall be the proper officer upon whom ali
citations, and all other legal process shall
be served.
ARTICLE II.
The objects and purposes for which this
corporation Is organized, and the nature Of
the business to be carried on by it are here
by declared TO be:
erwise ALLEVIATE, hypothecate, mortgage,
pledge and use as collateral security any
real estate, improved or unimproved, situ-
ated in the state eT Of louisiana.
This corporation shall have power and
authority, under its said corporate name TO
contract to sue and be sued; to make and
use corporate seal, and the same to break
or alter at pleasure; TO acquire receive, ac.
cept, purchase, buy, lease, hold, improve,
cultivate, mortgage, hypothecate, sell,
pledge, exchange, convey, ALLEVIATE or other
wise acquire, possess, use, enjoy and dis
pose Of property, both real and personal; to
borrow and loan money; TO give and re-
ceive securities therefor: to build and ope-
rate and substitute railroads and tramways
TO he operated by horse, electric, steam or
other motive power; to dig canals; to in
stan and operate pumping stations and 9TH
er works for drainage purposes; to pave
streets; TO operate electric and other light
and power plants; all within the limita-
tions imposed by Article III Of this charter /:
10 name and appoint such managers, off,
GERS, directors or agents as the necessities
and convenience of this corporation NAV
require; TO make and establish such by
laws for the proper management and regiI-
lation OF the affairs of the said corporation
as may be proper and the same to alter and
amend at pleasure.
ARTICLE ".
The capital stock OF this corporation Is
hereby fixed at one hundred thousand dol
lars $500, O00.O0), divided into and repre-
sented by one thousand G,00O) shares Of the
par value OF one hundred dollars (S1OO.OO)
each. Payments for said stock shall be
times, in such amounts, and upon such no.
tice as may be prescribed by the board of
directors, and such corporation is author
iZed to begin BUSINESS as soon as ten thou.
stock is subscribed for. The stock of said
corporation may be transferred, provided
such transfer be made on the books Of the
corporation, at It's Office at New Orleans,
Louisiana, and on the surrender of the
stock certificate. No transfer of any frac-
tional part OF a share shall be made.
ARTICLE V.
All the corporate powers Of this CORPORA
ton are hereby vested in q board of three
directors. all of whom shall constitute a
quorum for the transaction of business, and
The board of directors shall be elected on
the first Monday In March of each year, ex-
cept the first board named in this charter,
who shall hold office until the first Monday
IN March, 1913. They, together with the
ofhcers elected by them, shall hold Office for
one year. The election of members Of the
board OF directors shall be held at the office
OF the corporation, under the supervision Of
two commissioners, to be appointed by the
board of directors. Ten days notice Of
such election shall be given to each stock
holder by the secretary-treasurer, by a letter
addressed TO, and mailed to said stock
holder, at his pOstofice address, as
same appears on the stock book Of
the corporation. All elections shall be
jority of the votes cast shall elect, and
one vote shall be allowed for each share OF
stock to the owner thereof, appearing upon
the stock book of this corporation, In per-
son or by written proxy. Any vacancy or
vacancies occurring in said board from any
cause, shall be filed for the unexpired term
by the remaining directors or director. A
director may, by written proxy, designate
any other director to represent him at any
or all meetings of the board of directors
and such proxy shall have authority to do
and perform all acts and things at such
meetings as could be done by his principal,
were such principal personally present. Any
or all directors may be removed at any time
by vote Of five-sixths Of all Of the stock
ers convened for that purpose, after ten
days notice by letter addressed and mailed
to each stakeholder at his usual postofice,
as hereinabOve pS 5Syided 4; ",
The first board of directors Of this cor
poration shall be composed Of Charles w.
Hopkins, Joseph Lee Rhodes and e. Conway
Brouin, with Joseph Lee Rhodes as presi-
dent, Charles W. Hopkins as vice-president,
and E. Conway BrOuin as secretary-treas-
urer, and they shall hold their said Offices
until the first Monday In March, 1913. If,
for any reason, such president, or vice-pres-
ident, should cease to be a director, or
stakeholder, Of this corpora ton, then and in
that event. his Office shall ipso fdcto become
and remain vacant until his successor shall
have been elected and indicted into Office
The board Of directors may be called to
meet at any time, after one days notice at
the call of the president, or in his default
OF the vice-president, or In default of BOTH
at the call Of a majority of the board Of
directors.
ARTICLE VII.
whenever this corporation Is dissolved
either by Limitation, or from any other
cause, its affairs shall be liquidated under
the superintendent of three liquidators or
commissioners, TO be appointed for that pur-
pose from among the stockholders of the
corporation, at a general meeting Of the
stockholders, convened for that purpose, af-
ter thirty days prior notice, given In the
same manner as hereinabove provided In the
assent of the majority, In amount, of the
capital stock. The said liquidato tors or COM
mlssioners shall remain in Office until the
AFFAIRS OF the corporation shall have been
fully liquidated. Any vacancy occurring
among them, from any cause whatever, shall
liquidators who shall moreover continue to
act during such vacancy; and when such
liquidation shall have been completed, said
liquidators shall present a full report and
account thereof to meeting of the stock
holders called for that purpose, after ten
days notice as aforesaid, and they shall,
ten days prior to such meeting, also mail a
copy of said report and account to each
stakeholder at his usual postofice address,
and In default of so doing, they shall for
felt all compensation for their services as
ARTICLE VIII.
This charter may be amended, altered, or
changed by vote Of five-sixths in amount
Of the capital stock, or this corporation NAV
be dissolved by vote of seven-eighths, In
of the stockholders, convened for such pur,
pose, after thirty days previous notice of
the meeting shall have been given in the
manner hereinabove provided