The herald., 1912-06-27

elsewhere; to construct and erect buildings
and other improvements on the property II
may acquire; TO operate, lease, mortgage, or
sell the same ito deal In mortgage notes,
bonds and other securities; and generally to
do all things incident to the purposes afore-
said.
ARTICLE FOURTH.
The capital stock of said corporation Is
hereby fixed at two hundred thousand dol
lars divided into or represented by two thou
sand shares OF one hundred dollars each.
Said stock shall be paid for In cash at the
time of subscription or the same may be is
sued at not less than par in payment Of
property actually received or purchased by
said corporation or labor done and money
actually received. Said company shall com
mence business as soon as one hundred
shares Of the stock shall have been sub
scribed for. Each share of stock shall be
entitled to one vote at all meetings OF the
stockholders.
ARTICLE FIFTH.
All the corporate powers OF said corpo-
ration shall be vested in and exercised by
a board of directors 10 be composed OF hve
stockholders to be elected annually on the
second Monday In June OF each year; which
election shall be held at the office Of the
company, and ten days prior notice thereon
in writing shall have been mailed to each
stock holder by transmission of such notice
by mail addressed to him or her at the last
known place OF residence; as also ten days
prior notice by publication In one OF the
daily newspapers OF the city OF New Orleans.
Said board OF directors at its first meeting
shall elect one OF their number TO be presi-
dent Of said corporation, another to be vice
president, and a secretary who shall act as
treasurer. Vacancies occurring In said board
shall be filled by the remaining members.
director may give his proxy to another d.
rector to act for him In his absence. said
board may make and establish as well as
alter and amend at pleasure all bylaws,
rules. and regulations as 1t may deem neces-
sary for the management OF the AFFAIRS or the
company. Said board shall have power TO
borrow notes
and bonds and other obligations, execute
mortgages, ALLEVIATE and lease property, and
to do and perform all such acts as may be
necessary TO carry out the purposes OF said
corporation. George A. Hero, Alfred o;
Hero, Numa C. Hero Charles NJ. Hero. and
william s. Hero, with said Geo. A. Hero as
president, Alfred o. Hero as vice-president,
and said Numa G Hero as secretary and
| treasurer, have been chosen and selected as
the first board Of directors to serve as such
until the second Monday Of June. "A. ID.
nineteen hundred and thirteen, or until their
J successors shall have been elected.
| ARTICLE SIXTH.
| Whenever this corporation Is dissolved,
either by limitation or otherwise, its affairs
shall be llquidated by three commissioners
to be appointed by vote OF three fourths or
its capital stock at general meeting OF Its
stockholders convened for such purpose, af-
ter ten days prior notice In writing of such
meeting shall have been mailed to each stock
holder at his last known place OF residence
by the secretary Of the company, as also ter
Gays notice OF Sucn meeting snail De pup
lished In one Of the daily newspapers pub
lished In New Orleans. In case OF the
death Of any OF said commissioners the
survivors shall continue to act until final
liquidation.
ARTICLE SEVENTH.
This charter may be altered or changed
at any general or special meeting held after
notices as prescribed In the previous sec.
ton, and by a vote OF three-fourths OF
amount of its capital stock.
ARTICLE EIGHTH.
: No stakeholder shall ever be held liable
or responsible for the faults or contracts OF
e said corporation In any further sum thai
| the unpaid balance that may be unpaid or
the stock owned by him, nor shall any In
/ formality In organization render this char
ter null, and OF exposing any stockholdel
2 to any liability beyond the amount UNPAID
: on his stock.
5 Thus done and passed In my Office IN New
: Orleans aforesaid, in the presence Of JohI
: J. Ward and William +. Cheney, witnesses
: both of this city, who hereunto sign thei
s names with the parties and me, the sal
v notary. the day and date aforesaid
1e Original signed) Geo. A. Hero, o.
E. shares A. o. Hero. 1 share; n. g. Hero,
share W. s. Hero, share; G. NJ. Hero,
share. Jno. J. Ward. W. P. Cheney.
,e ANDREW HERO, JR., Not. Pub.
+ 7, the undersigned recorder Of mortgage
t in and for the parish Of Orleans, state {
ID and foregoing act OF Incorporation OF n
le Hero Company was this day duly recorde
b. in my Office In book 1855, folio =.
q. New Orleans, June 18th, 1912.
(Signed) EMILE LEONARD, d.
is I certify that the above and foregoing
Of true copy Of the original act on file an
e. extant In my notarial records.
s. New Orleans, La, June 18th, A. ID. 191
SO ANDREW HERO, JR., Not. Pub.
or june % 81 july IL IS 25 1912