The herald. [volume] (New Orleans, La.) 1905-1953, 1912-04-18

mort gage, hyputhecate and pledge properly.
reaI, personal or mixed; 10 issue bonds
ho'eS and other obligations; 10 have and
employ such officers. directors managers.
agents and other employees as the interest
and convenience OF said corporation ma,
require or demand: to make and establish
such bylaws, rules and regulat ions for the
corporate management and control OF the
affairs OF said corporation as may be deemed
necessary and eXpedient.
ARTICLE H.
The domicile OF said corporation shall be
in the City OF New Orleans. State az Lon
lSiana, and all citations and other legal pro-
cess snail he served ON the president. and
IN MS absence on the vice president OF SAT-
corporation. In case Of the absence or ina
billy OF both OF said officers then said pro-
cess shall be served on the secretary
said corporation shall have the right and
power 10 establish and maintain Offices
throughout the United States and foreign
countries.
ARTICLE III.
The objects and purposes for which this
corporation is organized, and the nature of
the business to be carried on by il are
hereby declared to be 10 buy, sell and deal
IN, Tor It's own account, or for the account
or any individual, firm or corporation real
estate, mineral, timber and agricultural
lands, tenementS, mortgages, mortgage notes
bonds, shares OF stock and other securities
10 Iend money on property, real, personal
or mixed; TO make leases as lessor or les.
see: to act as broker, agent or trustee for
individuals, firms or corporations TO guar.
antee titles TO land and other real estate
10 reclaim, improve and develop real estate
or all kinds 10 lay out and embellish town
lots or suburbs: pave streets, banquettes
ana alleys; 10 construct and erect or 10
contract for the construction and erection
OF buildings; and generally, to do and en-
gage in any other business, undertaking or
pOnnppfRd fvrn inn
germane or Incidental 10 any of the object
and purposes heerinabOve set forth or con
templated 10y this charter.
ARTICLE ".
The capital stock Of this corporation is
hereby liked at the sum of five thousand
tS5,OOO.00) dollars divided into fifty I5O1
shares of the par value of one hundred
ISloO.OO) dollars each, which shall be paid
Tor In cash, on such terms and conditions
as may be decided by the board OF directors,
or may De issued for not less than par for
properly purchased by, or services actually
rendered 10 said corporation All shares OF
stock shall be full paid and worcestershire
No transfer OF stock shall be binding upon
the corporation unless made upon its books,
and all certificates of stock shall be signed
by such officers as may be determined by
the board of directors.
ARTICLE V.
All the corporate powers Of this COMPANY
shall be vested in, and the mana cement and
control or Its affairs shall be exercised by
board OF directors composed of three
stockholders, which number may be in
creased to no more than five at the discre-
ton OF the board of directors, a majority
OF whom shall constitute quorum for the
transaction Of all business Said directors
except the first board Of directors who shall
serve for period Of three years, or until
october, 1918, shall be elected every year
on the first Monday Of October. Each stock
holder shall be entitled in person or by
written proxy to one vote on every share
or stock owned by him and standing In his
name on the books Of the company All
elections shall be held under such rules and
regulations as may be determined bv the
board Of directors, and after at least ten
days notice in writing of such election shall
nave been given to each stakeholder at his
last known address, or by publication in
one Of the daily newspapers for AT least
ten days preceding such election. The direc-
tors thus elected shall continue In Office for
one year Except the first board of direc-
tors, which shall serve until the election to
he heId IN October, 1915, as hereinabOve
stated Or until their successors shall have
been duly elected and qualified. No fail
ure to elect shall be regarded as a forfeit
ture OF this charter. Any vacancy occur
ring on said board of directors shall be
unexpired term. The said board Of direc-
tors shall likewise elect the additional men,
bers In case they should determine to in
crease the number of the board Of directors,
as ABOVE provided. Said board Of directors
shall, at its first meeting after its election,
elect from among its number, q president,
one or more vice-presidents. secretary and
a treasurer. 1t may combine the two last
mentioned offices, and may even elect a sec
rotary, who need not be a stockhoIder. Said
board Of directors shall have the right and
power TO appoint and dismiss such clerks,
managers and other employees OF the cor
ho a..
a stakeholder, as conditions may Justify,
or the business of the corporation may re
quire. The tenure of office Of all employees
of this corporation shall be during the
pleasure Of the board of directors.
ARTICLE VI.
No stakeholder shall ever be held liable
or responsible for the contracts, faults or
debts of this corporation, nor shall any
mere informality in its organization have
the effect Of rendering this charter null or
or exposing stockholder to any liability
beyond the unpaid balance due on the shares
OF stock owned by him.
ARTICLE VII.
This act Of incorporat ton may be changed.
modified or altered, or this corporation NAV
be dissolved with the assent OF the stock
holders owning>a majority OF all the stock of
the corporation, at general meeting con-
yened for that purpose, after at least ten
days notice in writing of such meeting shall
have been given to each stakeholder as pro-
vided for in Article V OF this charter. In
case Of the dissolution of this corporation
by the expiration Of its charter or otherwise,
the stockholders shall elect three liquidat-
ors from among their number who shall have
full power and authority to liquidate and
settle the business and affairs of the said
company. In case Of the death or inability
of any of said llquidators. the survivors or
remaining liquidators shall appoint a sue