The herald. [volume] (New Orleans, La.) 1905-1953, 1912-08-15

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 (99D years from the day and
date hereof, unless sooner dissolved in the
manner hereinafter provided.
1t shall have power and authority to con-
tract to sue and be sued to make and use
corporate seal, and the same to break,
alter or amend at pleasure; to hold receive.
purchase, convey, deliver, mortgage, hypothe-
cate and pledge property both real and per-
sonal to issue notes and other obligations,
negotiable instruments, or evidence or 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-
ARTICLE II.
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,
and in the absence Of the president, upon
the vice-president, and in the absence of
both Of these, upon the secretary-treasurer
ARTICLE III.
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:
To buy, sell, exchange, lease and 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-
tions To maintain general real estate
| 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
improve, manage, operate, sell, mortgage,
lease, or otherwise dispose Of any property,
real or personal and take mortgages and as
signments of mortgages upon the same.
| ARTICLE ~.
| The capital stock of this corporation Is
hereby fixed at the sum of ten thousand and
0O-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 ($3,
00O.0O) Of its capital stock has been sub
scribed and paid for, In cash or Its equiva
lent.
: All powers OF this corporation shall b
vested In and the management and cOntro
Of it's 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 q quorum for the trans
action of the business and affairs Of this cor
poration.
The board of directors shall be compose,
: of Israel Gunst, Eugene Buckmaster an,
: stephen A. Mascara. Each board shall elec
, its own officers, which shall consist Of
J president, vice-president, and a secretary
treasurer.
The officers of the first board of direc
. tors shall be Israel Gunst, president; Eu
: gene Buckmaster, vice-president, and Ste
(: phen A. Mascara, secretary-treasurer, an
the said board of directors shall serve an
t remain in office until the first Monday 4
e July, 1913, on which said date, and annu
4 ally thereafter, the board of directors shal
/ be elected by the stockholders at a meetin
q called for that purpose.
i All directors and officers shall hold ONO
+ until their successors are elected and quail
J, fed, and any failure to elect directors sha
e not be regarded as a forfeiture of this chal
9 ter.
/, All such elections shall be by ballot col
Quoted at the Office Of the corporation, vi
. der the supervision Of three commissioner
1: to be appointed by the board of directors
each stakeholder shall be entitled to one vol
n for each share Of stock owned by him, to I
4 cast in person or BY proxy and a majorit
II of votes cast shall elect. Any vacancy o
B icurring IN the board Of directors shall