The herald., 1912-07-11

ed by law TO corporations, and the power and
authority to enjoy succession and have cor
porate existence for and during the period
OF ninety-nln (99) years from the day and
date hereof unless sooner dissolved in the
manner hereinafter provided.
1t shall have power and authority to con-
tract; TO sue and be sued to make and use
a 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 I;
to 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 well 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-
sary and proper.
The dOmicile Of this corporation shall be
In the city Of New Orleans state of Louisi-
ana, and all citations and other legal pro-
and in the absence Of the president, upon
the vice-president, and in the absence Of
both OF these,s upon the secretary ytreasurer
OF this corporation; b%;c, ~,
The objects and purposes for which this
corporation is organized and the nature Of
the business to be carried on by II are here
by declared to be:
to deal In real estate, improved and unm-
proved; to build, construct, operate, main
tain, lease and sell dwelling and department
houses and stores of all kinds and descrip-
lions. 10 maintain a general real estate
agency and brokers' business, including the
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
supervise, manage and protect such property
and loans and all interests and claims af-
fecting the same; and to have the same in
sured against fire and other casualties. To
improve, manage, operate, sell, mortgage,
lease, or otherwise dispose of any property
real or personal and take mortgages and as
signments of MORTGAGES upon the same.
ARTICLE Nv.
The capital stock of this corporation Is
hereby fixed at the sum of ten thousand and
OO-1O0 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 par
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
paid and worcestershire, and no transfer Of
stock shall be binding on said corporation,
unless recorded on its books
This corporation shall be a going concern
as as soon as three thousand dollars (S3,-
OOO.0O) of Its capital stock has been sub
scribed and paid for, In cash or its equfva-
lent.
ARTICLE ".
All powers OF tnlS corporation shall be
vested In and the management and control
OF Its affairs shall be exercised by a board
OF directors to be composed of three stock
holders. apd 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
lts own officers, which shall consist of a
president a 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 auali-
ned, and any failure to elect directors shall
not be regarded as a 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 stockholder shall be entitled to one vote
for each share of stock owned BY him, to be
cast In person or by proxy; and a majority
OF votes cast shall elect Any vacancy oc-
curing In the board Of directors shall be