The herald., 1912-08-29
CHARTE Err.
OF THE NORTHEASTERN REALTY COM
PANY, LIMITED.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR
nRT.EA ANS

George Mccall, a notary public, duly COM
msSiOned and sworn in and for the parish
of Orleans, state of Louisiana, therein resld-
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, awaiting themselves OF the
provisions Of the laws of this state, relative
TO the organization of corporations, they
have contracted, cOvenanted and agreed TO
bind, form and constitute themselves, ana
do hereby bind, form and constitute them
selves, as well as all such other persons as
may hereafter join or become associated
with them, into a corporation and body pol
lite in law, for the objects and purposes and
under the articles, agreements and stipuIa-
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, ohcers, agents
and other employees as the Interest and con-
venfence 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 anairs
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 domiclle Of said corporation Is here
by fixed in the city Of New Orleans. In this
state. All citations and other legal process
-. 4. ~ Inv In Nc
absence, on the vice-president, and, In the
absence of both, on the secretary-treasurer
Of the corporation.
ARTICLE Ill.
The objects and purposes for which this
corporation Is organized, and the nature or
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.
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 and at such times as may be fixed
by the board of directors. No transfer Of
stock shall be binding upon said corporation
unless made upon the books, and all certif-
Gates OF stock shall be signed by such OH.
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 or
its capital stock shall be subscribed for.
ARTICLE V.
All the corporate powers OF said corpora
tlon shall be vested in, and the management
and control of its affairs shall be exercised
by a board Of directors, composed of three
stockholders. Each director must own at
least ten shares OF stock, and the directors
| =. h. -In1I
ers, by ballot, on the second Monday of
JanuaFy-the first election to be in 1918.
Notice shall be given by mail, addressed to
each stakeholder at his place or 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 stock
held by him, and a majority or the votes
cast at such meeting shall elect. The per-
sons thus elected shall be and constitute
the board of directors, and shall continue In
office for one year, and until their success
ors shall have been duly elected. In case of
any failure 10 hold an election, as above
provided such failure shall not forfeit this
charter, but an election shall be held as
soon as may be practicable, after notice as
above provided.
Each board of directors, at its first meet
ing after each election, shall elect from its
number a president and a 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 all
business and any vacancy occurring on said
board shall be filed by the remaining direc-
tors for the unexpired term. The said
board, or such officer or manager as 1t 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 the
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 t.
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
its discretion, shall cancel, change and mod
| ify the same.
| No stakeholder shall ever be held liable
or responsible for the contracts, faults OF
debts of said corporation nor shall any
mere informality In its organization have
the effect of rendering this charter null. OF
of exposing any stoekhoIdeF to nEabi ny
|
shares owned by him.
ARTICLE VII.
This act of Incorporation may be changed
modified, or altered, or said corporation may
be dissolved, with the assent of stockholders
owning three-fourths of all the stock of the
corporation, whose owners are present and
represented at a general meeting convened
for that purpose, after ten days written
notice Of such meeting has been given
through mail, addressed to each stakeholder
at his place OF residence, as shown on the
books Of the corporation. In case of disso
luton, whether by expiration of this char
ter or otherwise, the stockholders shall
number, to liquidate and settle the business
and affairs of said corporation. In case Of
death or disability Of any of said liquidat
ors, the survivors or the remaining liquidat
ors, shall appoint a successor to such liqui
dator. Said liquidators are hereby giver
full power. either by court or law proceed
ings or without snch proceedings, as they
corporation, sell or otherwise dispose of IT.
assets, pay its debts and liabilities, and
compromise and settle all disputed question.
and matters, as well as all other powers
necessary and usual to fully and finally set
tie, wind up and liquidate all the business
and affairs of the corporation, and distrib
ute its net assets or funds among its stock
rights.
Messrs. Michel Karst, Raoul ]. Cousin
and Harry Siener, with said Michel Kars
as president, and said Raoul J. Cousin a.
vice-president, and the said Harry Siener a.
secretary-treasurer, have been chosen and
selected as the first board Of directors Of
said corporation, and they shall serve a,
such until the election to be held on tn,
second Monday Of January 1918 and unit