The herald., 1912-07-04

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
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
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-
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,
and in the absence of the president, upon
the vice-president, and in the absence of
both of these. upon the secretary-treasurer
of this corporation.
ARTICLE Ill
The objects and purposes Tor which this
corporation is organized and the nature OF
the business to be carried on by it 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-
tons. 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-
n haU thn In
sured against hre 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 or mortgages upon the same.
ARTICLE ".
The capital stock of this corporation is
hereby fixed at the sum OF ten thousand and
oO-1O0 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 three thousand dollars 49,
OOO.OO) Of its capital stock has been sub
scribed and paid for, in cash or its equfva-
lent.
ARTICLE v.
All powers of this 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. and 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
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 reasurer, 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 Office
until their successors are elected and quail
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, I'M
der the supervision of three commissioners
to be appointed by the board of directors !:
each stakeholder shall be entitled TO one vote
for each share OF stock owned by him, to be
cast In person or by proxy; and majority
Of votes cast shall elect. Any vacancy oc-
curing In the board of directors shall be