The herald., 1912-07-04
CHARTER.
OF INTERSTATE LAND COMPANY.
UNITED STATES OF AMERICA. STATE
AI-ISIANA

ana, and in the presence OF the witnesses
hereinafter named and undersigned, person
ally came and appeared the parties whose
names are hereuntO subscribed, who sever
ally declared that, avaiing themselves of
| the provisions of the laws Of this state rel
atlve TO corporations, and especially of the
provisions of Act No. as of 1904 of the Gen
eral Assembly OF Louisiana, they have COW
enanted and agreed and by these presents
do covenant, agree and bind themselves, as
well as such other persons as may here
after become associated with them to form
and constitute corporation and body poll
TIC IN law Tor the purposes and objects and
under the stipulations, articles and condi-
lions following, to-wit:
! ARTICLE l.
| The name and title of this corpora ation
shall be INTERSTATE LAND COMPANY" >"
and 1t shall exist and continue for a term
| OF ntnety-nine years from the date hereof
IL shall have its domicile at New Orleans.
IN the parish of Orleans, state of louisiana
The president of said corporation, or in
his absence, the secretary treasurer thereof,
| shall be the proper officer upon whom ali
citations, and all other legal process shall
| be served.
The objects and purposes for which this
corporation is organized and the nature Of
the business to be carried on by it are here
To buy, improve, use, lease. sell and 9TH
erwise ALLEVIATE, hypOthecate, mortgage
pledge and use as collateral security any
ated in the state of Louisiana.
| ARTICLE III.
rms corporation shall have power and
authority, under its said corporate name, TO
contract, to sue and be sued; to make and
use a corporate seal, and the same to break
or alter at pleasure; to acquire, receive, ac-
cePt, purchase, buy, lease, hold, improve
pledge, exchange, convey, ALLEVIATE or other,
wise acquire, possess, use. enjoy and dis
pose OF property, both real and personal; TO
borrow and loan money; TO give and re.
CelNe therefor fn huil
rate and subsldiZe railroads and tramways
TO be operated by horse, electric steam or
other motive power; to dig canals; to in
stan and operate pumping stations and 9TH
er works for drainage purposes; to pave
streets; to operate electric and other light
and power plants; all within the limita-
tions imposed by Article III OF this charter;
10 name and appoint such managers off,
GERS, directors or agents as the necessities
and convenience OF this corporation NAV
require 10 make and establish such by
laws Tor the proper management and regIl-
latlon Of the affairs OF the said corporation
as may be proper, and the same to alter and
amend at pleasure.
ARTICLE ".
Inc capital stock Of this corporation is
hereby fixed at one hundred thousand dol
lars ISlOO.OOO;OO), divided into and repre-
par value of one hundred dollars (SlOO. .OO1
each. Payments for said stock shall be
made In cash, or its equivalent, at such
times, In such amounts, and upon such no.
directors, and such corporation Is author
lZed 10 6egln business as soon as ten thou
sand dollars (S10OOOOOl OF said capital
stock is subscribed for. The stock of said
corporation may be transferred, provided
such transfer be made on the books of the
corporation, at its office at New Orleans
stock, certificate. No transfer Of any frac-
tional part OF share shall be made
ARTICLE V.
All the corporate powers of this corpora
In hnn al -
directors. all OF whom shall constitute a
quorum for the transaction Of business, and
their acts shall constitute corporate acts.
Ihe board OF directors shall be elected on
the first Monday in March of each year, ex-
cept the first board named in this charter.
who shall hold office until the first Monday
In IN, March, 1913. They, together with the
officers elected by them, shall hold office for
one year. The election of members Of the
board OF directors shall be held at the office
OF the corporation, under the supervision of
board Of directors. Ten days notice of
such election shall be given to each stock
holder by the secretary-treasurer, by a letter
5odeF to- and %aea to said stock
the corporation. Ali elections shall be
either either BY ballot or rira Uoce. ma;
one vote shall be allowed for each share of
stock to the owner thereof, appearing upon
the stock book of this corporation, In per-
vacancies occurring in said board from any
cause, shall be filled for the unexpired term
by the remaining directors or director. A
director may, by written proxy, designate
any other director TO represent him at any
or all meetings of the board of directors;
and such proxy shall have authority to do
and perform all acts and things at such
meetings as could be done by his principal,
were such principal personally present. Any
or all directors may be removed at any time
by vote Of fve-sixths Of all Of the stock
ers convened for that purpose, after ten
days notice by letter addressed and mailed
to each stockholder at his usual postoffice
as hereinabove pr0yided;
The first board Of directors Of this cor
porat1on shall be composed of Charles w
hopkins, Joseph Lee Rhodes and E. Conway
Brouin. with Joseph Lee Rhodes as presf-
dent, Charles W. Hopkins as vice-presidept.
and Il. Conway Brouin as secretary-treas,
urer, and they shall hold their said offices
until unit the first Monday in March, 1913. If,
for any reason, such president, or vice-pres-
ldent, should cease to be a director. or
stockholder, Of this corporation, then and In
that event. his office shall ipso fdcto become
have been elected and inducted into Office
The board of directors smay be called to
meet at any time, after one days notice at
the call of the president, or in his default,
of the vice-president, or in default of both
at the call OF majority of the board of
directors.
ARTICLE VII.
Whenever this corporation Is dissolved.
either by limitation, or from any other
cause, Its affairs shall be liquidated under
the superintendent Of three liqudators or
commissioners, to be appointed for that pur-
pose from among the stockholders of the
corporation, at a general meeting of the
stockholders, convened for that purpose af-
ter thirty days prior notice, given In the
same manner as hereinabove provided In the
case Of the election of directors, and on the
assent OF the majority. in amount, Of the
capital stock. The said liquidators or COM
missioners shall remain in office until the
affairs of the corporation shall have been
fully liquidated. Any vacancy occurring
among them, from any cause whatever, shall
be filled by the remaining commissioners or
act during such vacancy; and when such
liquidation shall have been completed, said !
shall present full report and
account thereof to a meeting Of the stock
holders called for that purpose, after ten
days, notice as aforesaid, and they shall,
ten days prior to such meeting, also mail
copy of said report and account to each
at his usual postofice address,
and in default OF so doing, they shall for
felt all compensation for their services as
ARTICLE VIII.
This charter may be amended, altered. or
changed by a vote Of fve-sixths, In amount |
OF the capital stock, or this corporation may
be dissolved by vote of seven-eighths, In |
amount, OF the capital stock, at a meeting
Of the stockholders convened for such pur.
pose, after thirty days previous notice of |
the meeting shall have been given in the |
manner hereinaboye owe Rroyided.
NO st0ckholder shall ever be liable or re- |
sponsible for the contracts or faults of this |
corporation In any further sum than the |
unpaid balance due on the shares of stock |
subscribed for or owned by him; nor shall |