The herald., 1912-08-01
CHARTER.
OF THE NORTHEASTERN REALTY CON-
PANY, LIMITED.
UNITED STATES OF AMERICA, STATE

UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF Or
LEANS, CITY OF NEW ORLEANS.
Be 1t known, that on this 10Th day Of the
month of July, in the year one thousand
nine hundred and twelve, before me, Henry
George Mccall, a notary public, duly COM
miSSiOned and sworn in and for the parish
Of Orleans, state of Louisiana, therein resid-
ing and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared the persons whose
names are hereto subscribed, who severally
declared that. availing themselves of the
provisions OF the laws of this state, relative
10 the organization Of corporations, they
have contracted, coyenanted and agreed to
bind, form and constitute themselves, and
do hereby bind form and constitute them
selves, as we'll as all such other persons as
may hereafter join or become associated
with them, into corporation and body pol
itic in law, for the objects and purposes and
under the articles, agreements and stipula-
tiOns following, tO-wit:
ARTICLE /.
The name and style of this corporation
shall be THE NORTHEASTERN REALTY
COMPANY, LIMITED, and under that name
it shall have and enjoy all the rights, ad-
vantages and privileges granted by law to
corporations, and shall exist for the period
of ninety nine years from this day. 1t shall
have power to contract, sue and be sued; to
make and use a corporate SEAL and the
same to break and alter at pleasure TO
hold, receive, lease, purchase and convey. as
well as mortgage, hypOthecate and pledge,
property, both real and personal; to issue
bonds, notes and other obligations or nego-
table instruments: to name and appoint
such managers, directors, officers, agents
and other employees as the interest and con-
venience of said corporation may require or
demand: TO make and establish such by
laws, rules and regulations for the manage
ment and control of its business and affairs
as may be deemed necessary or expedient,
and the same to change and alter at pleas
ure: and to do all such acts and things ne
cessary and proper to carry out the objects
and purposes of said corporation.
ARTICLE III.
The domicile Of said corporation Is here
by fixed in the city of New Orleans In this
state. All citations and other legal process
shall be served on the president, and, In his
absence, on the vice-president, and, In the
absence of both, on the secretary-treasurer
of the corporation.
ARTICLE III.
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 buy, acquire, own, de-
velop, improve, build upon, lease and sell
lands and real estate: and, generally, to do
and engage in any other business, undertake
ing, or enterprise connected with, growing
out of, or incidental TO, any Of the purposes
hereinabove set forth.
ARTICLE ".
The capital stock Of said corporation is
fixed at the sum of fifty thousand dollars,
divided into five hundred shares of the par
value Of one hundred dollars each. All
stock shall be paid for in cash. In such
amounts 1n1 IAN and at such times may be fixed
stock shall be binding upon said corporation
unless made upon the books, and all certif-
Gates of stock shall be signed by such off,
GERS as may be designated by the board of
directors. The said corporation shall be-
come and be going concern and shall COM
mence business as soon as thirty shares of
its capital stock shall be subscribed for.
ARTICLE v.
All the corporate powers of said corpora
ton shall be vested in, and the management
and control of its affairs shall be exercised
by, board of directors, composed of three
stockholders. Each director must own at
least ten shares of stock, and the directors
shall be elected annually by the stockhold-
ers, by ballot, on the second Monday OF
January-the first election to be in 1913
each stakeholder at his place OF residence
as shown on the books of the corporation
said notice to be mailed not less than two
weeks before such ELECTION.
All elections. shall be held under such
| rules and regulations as may be fixed by the
board Of directors provided that each stock
holder shall be entitled, In person or by
proxy, to one vote for every share of stocl
held by him, and majority Of the votes
cast at such meeting shall elect The per
sons thus elected shall be and constitute
| the board OF directors and shall continue II
office for one year, and until their success
any failure to hold an election, as above
provided, such failure shall not forfeit thi:
charter, but an election shall be held a:
soon as may be practicable, after notice a:
above provided
Each board Of directors, at its first meet
| ing after each election, shall elect from 1t.
number a president and vice-president
and shall also elect a secretary-treasurer
who may be a member of the board or not
as the directors see fit.
"A majority of the directors shall consti
| tute a quorum for the transaction of al
business; and any vacancy occurring on SAID
board shall be filed by the remaining direc
| tors for the unexpired term. The sale
board or such officer or mana ger as it may
designate, shall appoint such officers mana
gers, clerks and other employees of said cor
poration as may be necessary for its bust
ness and shall dismiss the same: and tn,
tenure of office and employment of all off
GERS, managers, clerks and employees shall
be during the pleasure of said board.
The said board shall have the right and
power to buy, SELL improve, contract, lease
borrow money, issue bonds and execute mort
cages, and, In general, to exercise all the
powers of the corporation, as well as Il
carry out its objcts and purposes-all with
out reference to or authorization by the
stockholders. From time to time said board
shall adopt rules, regulations and bylaws
for the management and control of the bust
ness and affairs of said corporation, and, In
it's discretion, shall cancel, change and mod
lily the same.