The herald. [volume] (New Orleans, La.) 1905-1953, 1912-08-15
CHARTER
OF THE NORTHEASTERN REALTY COM
PANY, LIMITED.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF OR

OF LOUISIANA, PARISH OF OR
LEANS, CITY OF NEW ORLEANS.
Be it known, that on this 10Th day Of the
month OF July, in the year one thousand
nine hundred and twelve, before me, Henry
George Mccall, a notary public, duly COM
miSSiOned and sworn in and for the parish
of Orleans, state Of Louisiana, therein resid-
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, availing 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, and
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
itic in law, for the objects and purposes and
under the articles, agreements and stipula-
tons following, to-wit:
ARTICLE l.
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, adj
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,
bonds, notes and other obligations or nego-
table instruments: to name and appoint
such managers, directors, officers, agents
and other employees as the interest and con-
venience 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 affairs
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.
by fixed in the city OF New Orleans, In this
state. All citations and other legal process
shall be served on the president and In bis
absence, on the vice-president, and, In the
Of the corporation.
ARTICLE III.
The objects and purposes for 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, acquire, own, de.
velop, improve, build upon, lease and sell
lands and real estate; and, generally, to dc
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.
ARTICLE ".
| The capital stock of said corporation Is
fixed at the sum of fifty thousand dollars
divided into five hundred shares of the pal
value of one hundred dollars each. Al
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 certln
Gates of stock shall be signed by such ON
GERS as may be designated by the board Of
directors. The said corporation shall be
come and be a going concern and shall com
mence business as soon as thirty shares OF
| its capital stock shall be subscribed for.
| ARTICLE V.
All the corporate powers or said corpora
| ton shall he vested in, and the management
and control OF its affairs shall be exercised
stockholders. Each director must own a.
least ten shares Of stock, and the director:
shall be elected annually by the stockhold
ers. by ballot, on the second Monday o.
| January-the first election to be In 1913
Notice shall be given by mail. addressed t.
each stakeholder at his place OF 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 sucf
rules and regulations as may be fixed by thu
board of directors; provided that each STOCK
holder shall be entitled, in person or BY
proxy to one vote for every share of stool
| held by him, and majority OF the vote
cast at such meeting shall elect. The per
sons thus elected shall be and constitute
the board Of directors, and shall continue II
Office for one year, and until their success
ors shall have been duly elected. In case o.
any failure to hold an election. as abov'
provided, such failure shall not forfeit Till
charter, but an election shall be held a.
soon as may be practicable, after notice a.
above provided.
Each board OF directors, at its first meet
ing after each election, shall elect from it
number a president and a vice-president
land shall also elect a secretary treasurer
who may be a member Of the board or not
as the directors see fit.
l "A majority of the directors shall consti
tute a quorum for the transaction OF al
huotp
board shall be filed by the remaining direc
l'tors for the unexpired term. The sah
board, or such officer or manager as Ii ma.
designate, shall appoint such officers, mana
gers clerks and other employees of said cor
poration as may be necessary for Its bust
mess and shall dismiss the same: and tn
tenure of ONCE and employment OF all 'offl
GERS, managers, clerks and employees sinai
be during the pleasure Of said board.
The said board shall have the right ant
power to buy, sell, improve, contract, lease
borrow money, issue bonds and execute mort
cages, and, In general, TO exercise all tn
/ bowers of the corporation, as well as Z
carry out it's objcts and purposes-all with
out reference to or authorization by tn
4 stockholders. From time to time, said boar
shall adopt rules, regulations and bylaws
for the management and control of the bust
ness and affairs of said corporation, and, Il
its discretion, shall cancel, change and mod
ny 'N' '" ARTICLE vi.
Il No stakeholder shall ever be held liabl
or responsible for the contracts, faults o
debts OF said corporation; nor shall an.
mere informality In its organization hav
the effect Of rendering this charter null, o
of exposing any stakeholder to any liabilit,
beond the unpaid balance, IL any, due on tn
shares owned by him.
This act of Incorporation may be changed
modified, or altered, or said corporation ma.
be dissolved, with the assent of stakeholder
owning three-fourths of all the stock OF tn
corporation, whose owners are present an
represented at a general meeting convene'
for that purpose, after ten days WRITER
notice of such meeting has been give
Through mail, addressed to each stockholde
books Of the corporation. In case Of disso
Hutton, whether by expiration of this char
ter or otherwise, the stockholders shal
elect three liquidators from among thei
number, to liquidate and settle the bushes
and affairs of said corporation. In case o
death or disability of any Of said liquidat
ors, the survivors or the remaining liquidat
ors, shall appoint successor to such liqu1
dator. Said liquidators are hereby give
full power, either by court or law proceed
ings or without such proceedings, as the
shall elect to collect all amounts due tn
corporation, sell or otherwise dispose Of 1t
assets, pay It's debts and liabilities, an
compromise and settle all disputed question
and matters, as well as all other power
necessary and usual to fully and finally SET
tie, wind up and liquidate all the bushes
and affairs Of the corporation, and distrft
ute its net assets or funds among its stock
Eholders, in accordance with their respectiy
rights.
Messrs. Michel Karst, Raoul ]. Cousin
and Harry Siener with said Michel Kars