The herald. [volume] (New Orleans, La.) 1905-1953, 1912-07-25

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 nine (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
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
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 we'll 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-
ARTICLE III.
The domicile Of this corporation shall be
in the city of New Orleans, state of Louisi-
ana, and all citations and other legal pro-
cesses shall be served upon the president,
ard in the absence of the president upon
the vice-president, and in the absence Of
both or these, upon the secretary-treasurer
Of this corporation.
ARTICLE III.
The objects and purposes for which this
corporation is organized and the nature of
the business to be carried on by 1t are here
by declared to be:
To buy, sell, exchange, lease and generally
to deal In real estate, improved and unim-
proved; TO build, construct, operate, main
tain, lease and sell dwelling and department
houses and stores of all kinds and descrip-
| tions. To 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 liked at the sum Of ten thousand and
OO-1OO dollars divided into and represented
by 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 soon as three thousand dollars (S3,-
OOO:oO) or Its capital stock has been sub
scribed and paid for, In cash or its equiva-
| lent.
ARTICLE v.
All powers of this corporation shall be
| 'Cotcu III luc management ana CODIrOl
| Of its affairs shall be exercised by board
OF directors to be composed of three stock
holders, and two of the said board OF direc-
| tors shall constitute a quorum for the trans
| action OF the business and affairs of this cor
p0ration.
The board of. directors shall be composed
| OF Israel Gunst, Eugene Buckmaster and
stephen "A. Mascara. Each board shall elect
| Its own officers, which shall consist of a
president, 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 quail
fed, and any failure to elect directors shall
not be regarded as forfeiture Of this char
ter.
AL 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 st0ckholder 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