The herald., 1912-08-01

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
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 borh 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-
sary and proper; Rr1c1n IT.
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,
the vice-president, and in the absence Of
both of these, upon the secretarytreasurer
Of this corporation.
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:
lO Duy, sell, eAcuduSe, tease anu 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-
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
lease, or otherwise dispose of any property,
real or personal and take mortgages and as
signments of mortgages upon the same.
ARTICLE w.
The capital stock Of this corporation Is
hereby fixed at the sum Of ten thousand and
00-1O0 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 as three thousand dollars (s3,
000.00) of its capital stock has been sub
scribed and paid for, in cash or its equiva
lent.
ARTICLE v.
All powers or this corporation shall bt
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 a 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 anC
stephen A. Mascara. Each board shall elecj
Its own officers, which shall consist of
president, vice-president, and a secretary
treasurer.
The officers Of the first board of direc
tors shall be: Israel Gunst, president Eu
gene Buckmaster, yice-president. and Ste
phen A. Mascara, secretary-treasurer, an(
the said board Of directors shall serve anC
remain In office until the first Monday II
July, 1913, on which said date, and annu
| ally thereafter, the board OF directors shall
be elected by the stockholders at a meetinI
called for that purpose.
All directors and officers shall hold off1c,
until their successors are elected and quail
| fed, and any failure to elect directors shall
not be regarded as forfeiture Of this char
ter.
All such elections shall be by ballot con
| Quoted at the Office of the corporation, un
der the supervision Of three commissioner
to be appointed by the board OF directors
each stakeholder shall be entitled to one yot
for each share of stock owned by him, to b
cast In person or by proxy and a maforit-
Of votes cast shall elect Any vacancy oc
curing In the board Of directors shall b