The herald., 1912-08-22
CHARTER
OF THE NORTHEASTERN REALTY CON-
PANY, LIMITED.

Be ii known, that on this l5tn Gay OF inc
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 Tor the parish
of Orleans, state OF LOUISIANA, therein reslu-
ing and in the presence or the witnesses
hereinafter named and undersigned, person
ally came and appeared the persons whose
names are hereto subscribed, who severaily
declared that, awaiting themselves OF inc
10 the organization of corporations, they
have contracted, covenanted and agreed 10
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 corporation ana Dody POI,
itic in law, for the objects and purposes and
under the articles, agreements and stpula-
lions 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-
yantages and privileges granted by law TO
corporations, and shall exist Tor the perlon
OF ninety-nine years from this day. IL shalI
have power to contract, sue and be sued 10
make and use a corporate seal, and the
same to break and alter at pleasure' 10
hold, receive, lease, purchase and convey, as
well as mortgage, hypothecate ana pieuge,
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 ana con-
yenience of said corporation may require or
demand: to make and establish such Dy-
laws, rules and regulations Tor the manage
ment and control of its business and anairs
as may be deemed necessary or expeolent,
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 oD1ects
and purposes OF p SAID corporation 2i
The domicile of said corporation Is here
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 ms ms
absence OF both, on the secretary-treasurer
Of the corporation.
ARTICLE III.
The objects and purposes for which TINS
corporation is organized, and the nature Of
the business to be carried on by II, are here
by declared to be I: To buy, acquire, own, de,
velop, improve, build upon, lease and sell
and engage In any other business, undertak-
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 or the par
value of one hundred dollars each: All
amounts and at such times as may be hxed
BY the board of directors. No transfer or
stock shall be binding upon said corporation
unless made upon the books, and all certin-
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 snares OF
its capital stock shall be subscribed for.
| ARTICLE V.
All the corporate powers OF said corpora.
tion shall be vested In, and the managemen,
and control of its affairs shall be exercised
by, a board Of directors, composed OF three
stockholders. Each director must own al
least ten shares of stock, and the directors
shall be elected annually by the stockhold.
ers, by ballot, on the second Monday OF
January-the first election to be In 1913.
Notice shall be given by mall, 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. q,
! 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 stocs
held by him, and 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 IL
office for one year, and until their success
ors shall have been duly elected. In case Of
any failure to hold an election; as aoov'
provided. such failure shall not forfeit this
charter, but an election shall be held a:
soon as may be practicable, after notice al
above provided.
Each board of directors, at its first meet
Ing after each election, shan elect from 1t.
number a president and vice-president
and shall also elect secretary-treasurer
who may be a member Of the board or not
as the directors see it
II A majority of the directors shall consti
tute a quorum for the transaction of al
business: and any vacancy occurring on SAT-
board shall be filled by the remaining direc
tors for the unexpired term. The salt
boa rd or such officer or manager as II ma,
designate shall appoint such officers, mana
gers, clerks and other employees or said cor
) poration as may be necessary for Its busi
ness and shall dismiss the same and tn
tenure of ONCE and employment OF all ON
GERS managers, clerks and employees shall
be during the pleasure of said board.
The said board shall have the right AM
power to buy, SELL improve, contract, lease
, borrow money, issue bonds and execute mort
cages and, in general, to exercise all tn
powers OF the corporation, as well as {
, carry out its objects and purposes-aii with
out reference to or authorization by tn
. stockholders. From time to time, said boar
shall adopt rules, regulations and bylaws
for the management and control OF the bus
mess and affairs of said corporation, ana, u
its discretion, shall cancel, change and mod
ify the same.
No stakeholder shall ever be held liabl
or responsible for the contracts, 1auIts
/ 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, II any, due on tn
shares owned by him.
8 ARTICLE VII.
This act Of Incorporation may De changed
] modified or altered, or said corporation ma
be dissolved, with the assent or stockholder
, owning three-fourths of all the stock OF tn
; corporation, whose owners are present an
represented at a general meeting convene
I, for that purpose, after ten days write
nntica Of such meeting has been give
D through mail, addressed to each stockholde
s at his place of residence, as shown on tn
books of the corporation. In case OF disst
!. luton, whether by expiration or this cha
l ter or otherwise, the stockholders sha
elect three liquidators from among thei
number, to liquidate and settle the bushes
: and affairs Of said corporation. In case {
: death or disability of any Of said liquida
! ors, the survivors or the remaining liquida
e ors, shall appoint a successor to such liqu
r dator. Said liquidators are hereby give
e full power, either by court or law proceet
T ings or without such proceedings, as the
d shall elect, to collect all amounts due I'll
corporation, sell or otherwise dispose OF II
o assets, pay Its debts and liabilities, an
compromise and settle all disputed question
d and matters, as well as all other power
s necessary and usual to fully and finally sc
r tie, wind up and liquidate all the busine.
y and affairs of the corporation, and distrf
q ute Its net assets or funds among Its stocl
holders, In accordance with their respecti'
u rights.
a Messrs Michel Karst, Raoul ]. Cousil
n and Harry Siener, with said Michel Kar
lac Raaul CNnSiu