The herald., 1912-06-20
CHARTER

| OF TIE LESTER LAM tOh L ~ ~ . 4. :,,,,
| OF LOUISIANA, PARISH OF ORLEANS,
| CITY OF NEW ORLEANS.
| Be IL known, that on this 18th day OF
| the month of June, in the year OF our LOrd
| one thousand nine hundred and twelve
19l2) and Of the independence OF the Unit
| ed States of America the one hundred ana
| thirty sixth, before me, Arthur B. Leopold
| a notary public in and for the parish or
| Orleans State of Louisiana, duly commits
| stoned and qualified, and in the presence OF
| the witnesses hereinafter named and under
| signed, personally came ana appeared lhe
| following persons whose names are here
| unto subscribed. together with the amounts
| of their respective subscriptions TO the cap
| ital stock of the corporation to be formed
| who seyerally declared. that availing them
| selves of the provisions of the general laws
| of the state of Louisiana relative TO the
| organization Of corporations, they nave con-
| tracted and agreed and DO by these pres
| ents covenant and agree and bind and obli-
| gate themselves. well as such other per-
| sons as may hereafter become associated
| with them or their successors, 10 form ana
| constitute a corporation and body polite In
law for the objects and purposes ana under
agreements and stipulations following, To-
| wit:
| The name of this corporation shall be
| The Lester Land Company, and under Its
| corporate name Ii shall exist and nave sue
cession for a period OF nnety-nine years
| from date hereof and 1t shall have and ex-
| ercise for the purposes Of its business all
the powers, rights and privileges conferred
| by law on similar corporations, and IL snali
| be and is further authorized and empowered
to do and perform any act or thing and
| conduct any and all business usually CON
nected with and pertaining TO the analrs
| and business set forth in Article III or thls
| charter and which is not specially prohlOlt-
| ed by law.
| IT shall have the power and authority to
hold. own, receive, purchase and law1ully
| acquire by deeds of conveyance. contract,
| lease, rental or in any other lawful manner
| the title and ownership to all property, real,
personal and mixed, which 1t may deem
useful and expedient to hold, use and EN-.
ploy for or in connection with the exercise
and use of it's corporate rights, powers ana
purposes and likewise with full power and
authority to ALLEVIATE, dispose Of lease, rent,
SELL convey, mortgage, hypothecate, pledge
or otherwise cucumber Its property. real,
personal or mixed or any part thereof.
| 1t shall have power to borrow money, ana
to issue notes, bonds and other evidences S
secure the payment of the same or any part
thereof. by pledge or hypothecation of prop.
erty or by mortgage or other evidences OF
lien placed upon Its property, francnlses.
real, personal and mixed, or any part there
of.
II shall have power to elect officers and
directors, to name and appoint It's mana
gers, agents and other employees and to
fix their compensation, and to discharge
the same at will; to establish and adopt
such bylaws, rules and regulations as may
duct and management of its property and
business and the same to alter, amend ana
abolish at pleasure; to make and use a
common or corporate seal, and the same 10
to do and perform all acts and things re-
quisite and necessary to carry out the oD-
jects and purposes Of this corporation.
The domicile of this corporation shall be
! In the CITY of New Orleans, State Of Lou
isiana, and all citations and other legal pro-
cess shall be served on the president % ana IN IN
the absence OF both of said officers on the
secretary-treasur of this corporation.
ARTICLE III ,,., All.
The objects and purposes for which this
corporation Is formed and organized and
: the nature of the business to be carried on
by 1t are declared to be: To acquire, re-
, claim. improve and cultivate landed 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 to be 80 &C
quired and used in order to more efectually
carry out the main design OF the organi-
zation Of the company.
The capital stock Of this corporation is
) hereby fixed at the sum of fifty thousand
dollars (S50,OO0), divided into and repre-
sented by five hundred (5O0) shares of the
par value of one hundred dollars (S1O0.OO)
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
other property to be taken, accepted and
| received by the corporation for its corporate
purposes at such valuation and upon such
terms for said stock as the board of direc-
J tors may determine and direct from time
! to time to be expedent. The capital stock
Of the corporation may be increased or re-
duced by proceedings taken 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,
2 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, corporal or incor-
poreal, accepted and received by the corpor-
. alton for its corporate purposes In payment.
exchange or otherwise, for any Of the stock
E and shares of this corporation and Hxed by
the board Of directors upon such terms and
conditions for the issuance Of such stock
shall be conclusive evidence of such valua.
tion and any and all persons. partnerships
associations, corporations or creditors deal
Ing with this corporation are concluded
thereby, and any and all persons, partner
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
! this corporation shall be subject to this pro
vision Of this charter
All of said stock shall be fell paid and
worcestershire when issued and delivered
and transfers thereof 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.
i This corporation shall begin Its business
as soon as three thousand dollars ($3, ,000)
i Of its stock shall have been subscribed.
/ ARTICLE V.
The corporate powers Of this corporation,
i including the power to make and amend its
| bylaws and the management and control
i of Its affairs shall be vested In and exer-
| cised by q board Of directors, composed of
| not less than three or not more than seven
1 persons, who shall be the holder of at least
one share Of the capital stock Of this com
pany, majority Of whom, represented
either In person or By proxy shall constitute
quorum for the transaction Of all busi-