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

or otherwise cucumber its property, real
personal or mixed or any part thereon.
IL shall have power to borrow money, anu
TO issue notes bonds and other evidences
of Indebtedness from time to time, ano 10
secure the payment OF the same or any Part
thereof, by pledge or hypothecatlOn OF prop
erty or BY mortgage or other evidences OF
lien placed upon its property, FRANCHISES
real, personal and mixed, or any part lnere
Of. an,
directors. 10 name and appoint its mana
gers agents and other employees, ana 10
fix their compensation, and 10 ulscharse
the same at will; TO establish ana auoPt
sach bylaws. rules and regulations as may
be deemed e1pedient and proper for me con,
duct and management of its property ana
business and the same 10 alter, amend anu
abolish NJ pleasure; to make ana use 20
break and alter at pleasure, and generaIly
to do and perform all acts and things re-
qaisite and necessary TO carry out the op-
jects and purposes OF this corporation
ARTICLE II.
The domcile of this corporation shall be
In the City OF New orleans, State OF Lou
isisna and all citations and other legal pro
cess shall be served on the president ana 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.
TIL. objects and purposes for which this
CORPORATION is formed and organized ana
the nature OF the business TO be carried on
hy IL are declared TO be: TO acquire, re-
claim, improve and cultivate Ianded prop
erty; also to acquire by purchase or lease
operate. sell and otherwise dispose OF any
and every species OF property, real and per
sonal, necessary or convenient 10 De 50 az
quired and used In order TO more efectually
carry out the main design OF the organi-
zation OF the company.
ARTICLE ".
The capital stock of this corporation Is
/ l. ha ms NJ
dollars (S5O.OOO), divided into and repre-
scented by FIVE hundred (5OOl shares OF the
par value Of one hundred dollars CSlO0ool
each, to be paid for in money, or Tor iaoos
done or services rendered, or such stock as
NAV be issued or delivered FOR lands ana
other property to be taken, accepted ana
| received by the corporation for its corporate
Purposes at such valuation and upon sucn
| 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
The stock Of this corporation may be is
sued for money, for labor done or services
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
poreal, accepted and received by the corpor'
| alton for its corporate purposes In payment
| exchange or otherwise, for any or the stocR
and shares Of this corporation and fixed by
| the board OF directors upon such terms anC
| conditions for the issuance OF such stocE
| shall be conclusive evidence of such valua
tion and any and all persons, partnerships
| associations, corporations or creditors ueal
| 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, hel
| or them In payment or exchange Tor laool
done or services rendered, or for such lands
rights, credits, contracts and property valued
by the board OF directors as aforesaid, anC
each, every, any and all contracts, contrac1
| or undertaking made by or entered into will
this corporation shall be subject to this pro
vision OF this charter.
| All of said stock shall be full paid anC
worcestershire when issued and delivered
and transfers thereof shall not be binding
on the company unless recorded IN Its book
and shall be further subject to such rules
regulations and conditions as the board o
directors may prescribe.
This corporation shall begin Its bushes
a. soon as three thousand dollars $4,000
Of its stock shall have been subscribed.
ARTICLE V.
! The corporate powers or this corporation
Including the power to make and amend II
bylaws and the management and contrC
OF its affairs shall be vested In and exeI
cised by a board Of directors, composed o
not less than three or not more than seve
persons, who shall be the holder of at leas
one share of the capital stock Of this CON
pany, a majority Of whom, represente
either In person or by proxy shall constitut
a quorum for the transaction OF all bus
ness.
Any director In his absence from an
meeting of the Board of Directors sha
have the power to appoint In writing an
other director or stakeholder as his prox!
with full power to act in his stead at sue
meeting.
The directors shall be elected annual
by ballot by the holders Of the stock on th
first Tuesday in June of each year. Fac
holder of stock shall be allowed to vote
person or by written proxy, one vote for eac
share OF stock owned by him, and all ele
tions shall be held under such rules an
regulation. as may be adopted by the boar
Of directors. The directors thus electe
shall continue In ONCE for one year an
until their successors shall have been du
elected and qualified. Any failure to ele'
, officers or directors shall not be regards
as forfeiture of the Charter. Any vacanC
occurring on said board of directors sha
be filled by the remaining directors for Il
unexpired term.
The following persons shall be and CO.
stitute the first Board of Directors: Jazz
Israel Albert NJ. Darragh and Michel Lev
r majority of whom shall constitute gu
rum, with Jacob Israel as president, Able
J. NJ. Darragh, vice-president and Michel Lev
secretary treasurer, who shall be the mr.
officers Of the corporation and shall ser
U until tne regular meeliuS On tue urSt ue
day In June, 1913, or until their succe
sors shall have been elected and qualified.
l. ARTICLE vi.
Liability Of the stockholders OF this CO
o poration for the contracts or faults OF sa
corporation Is limited to any unpaid balan
that may be due by them respectively I
their subscriptions. No mere informally
this act of incorporation shall render tn
lCharter void or expose stockholders to II
lbility beyond the amount of their unpa
J. subscriptions.
e This Charter may be mended or this &C
N poration may be dissolved with the asse
Of the stockholders holding a m jority
s the outstanding stock at a general meeti
q days notice shall have been given to I
@ stockholders through the mail address
!. to their respective places Of business.
In case Of dissolution by the expiration
q this charter or otherwise the affairs Of Il
a corporation shall be liquidated by thu
stockholders to be elected at the meeti
ordering such liquidation.
subscription list, the undersigned being t
original subscribers to the capital stock
} this corporation In the amounts and
l. the number of shares opposite their respe
i've names and signatures.
Thus done and passed, In my office at N
Orleans, Louisiana, on the day and de
- hereinbefore written and In the presence
petent witnesses, who hereunto sign tn
names with the said appearers and me,
tary, after due reading Of the whole.
Tl Original signed: Jacob Israel, 80 share
S, A. NJ. Darragh, 20 shares Michel Levy,
share. Witnesses L. r. Eisenberg, l.
Of Bryant, Jr.
I'd ARTHUR B. LEOPOLD,
Il