The herald. [volume] (New Orleans, La.) 1905-1953, 1912-07-04

| secure Inc payment OF the Sdlut OF part
thereof by pledge or hypothecation of prop.
erty, or by mortgage or other evidences OF
| lien placed upon its property, franchises,
real, personal and mixed, or any part there
OF.
| 1t shall have power to elect officers and
| directors. 10 name and appoint its mana
gers, agents and other employees, and 10
| fix their compensation, and TO discharge
| the same at will; to establish and adopt
| such bylaws rules and regulations as may
he deemed expedient and proper for the con
duct and management Of its property and
business and the same TO alter, amend and
abolish at Measure: 10 make and use a
| common or corporate seal, and the same TO
| break and alter at pleasure, and generally
to do and perform all acts and things re-
quisite and necessary TO carry out the OBJ
| jects and purposes OF this corporation.
ARTICLE ii.
The domicile Of this corporation shall be
| ia the City OF New Orleans State OF Lou
isiana, and all citations and other legal pro
cess shall be served on the president and In
| his absence on the vice-president, ana IN
| the absence OF both of said officers on the
| secretary treasurer of this corporation.
ARTICLE III.
| The objects and purposes for which this
| corporation Is formed and organized and
| the nature Of the business to be carried on
by ii are declared TO be: To acquire, re-
| claim improve and cultivate landed prop
erty: also to acquire by purchase or lease,
| operate. sell and otherwise dispose OF any
and every species OF property, real ana per
sOnsl, necessary or convenient TO be so ac-
quired and used in order to more efectually
carry out the main design of the organi-
zation Of the company.
ARTICLE ".
The capital stock of this corporation Is
hereby fixed at the sum of fifty thousand
dollars $50 0OO), divided into and repre-
scented by five hundred 5000 shares OF the
par value Of one hundred dollars 100000
| each. to be paid for in money, or for labor
done or services rendered, or such stock as
may be issued delivered for lands and
other property TO be taken, accepted and
received by the corporation for its corporate
purposes at such valuation and upon such
terms for said stock as the board of direc-
TO time to be expedient The capital stock
OF the corporation may be increased or re-
duced by proceedings take in the manner
prescribed by law.
sued for money, for labor done or services
rendered. or for lands or other property,
which may be thus paid for or exchanged
and made over TO the company. The valu-
alton of any and all lands, rights, contracts,
labor or services and property, movable,
| immovable and mixed, corporal or incor-
pOreal, accepted and received by the corpor-
| alton for its corporate purposes in payment.
exchange or otherwise, for any of the stock
and shares of this corpora ton and fixed by
| the board OF directors upon such terms and
conditions for the issuance OF such stock
| shall be conclusive evidence of such valua-
tion and any and all persons, partnerships,
| associations, corporations or creditors deal
/ ing with this corporation are concluded
| thereby, and any and all persons, partner
ships. associations, corporations or creditors
| dealing with this corporation hereby waive
any right or cause of action against the
original or subsequent owner or owners Of
such stock and shares issued to IL, him, her
or them in payment or exchange for labor
done or services rendered, or for such lands.
| rights, credits, contracts and property valued
| by the board of directors as aforesaid, and
i Zach and all contracts
or undertaking made by or entered into with
| this corporation shall be subject to this pro-
vision of this charter.
| All OF said stock shall be full paid and
| worcestershire when issued and delivered.
and transfers thereof shall not be binding
on the company unless recorded In its books
| and shall be further subject to such rules.
regulations and conditions as the board of
| directors may prescribe.
This corporation shall begin its business
as soon as three thousand dollars ($3,00)
| OF its stock shall have been subscribed.
| ARTICLE v.
The corporate powers Of this corporation,
| Including the power to make and amend its
/ bylaws and the management and control
OF Its affairs shall be vested in and exer-
| cised by board of directors, composed of
not less than three or not more than seven
persons. who shall be the holder of at least
one share of the capital stock Of this CON-
pany, a majority of whom, represented
either in person or by proxy shall constitute
a quorum for the transaction Of all bust
ness.
Any director in his absence from any
meeting Of the Board of Directors shall
| have the power to appoint In writing any
other director or stakeholder as his proxy,
with full power to act In his stead at such
| meeting
The directors shall be elected annually
| by ballot by the holders of the stock on the
| first Tuesday in June of each year. Each
| holder of stock shall be allowed TO vote in
person or by written proxy, one vote for each
share Of stock owned by him, and all cleo
tons shall be held under such rules and
| regulations as may be adopted by the board
/ Of directors. The directors thus elected.
| shall continue In Office for one year and
| until their successors shall have been duly
elected and qualified Any failure to elect
officers or directors shall not be regarded
as forfeiture of the Charter. Any vacancy
occurring on said board of directors shall
be filled by the remaining directors for the
| unexpired term.
The following persons shall be and con-
stitute the first Board of Directors Jacob
| Israel, Albert NJ. Darragh and Michel Levy,
majority OF whom shall constitute a quo
rum, with Jacob Israel as president, Albert
NJ Darragh, vice-president and Michel Levy,
secretary-treasurer, who shall be the first
officers Of the corporation and shall serve
/ until the regular meeting on the first Tues
day in June, 1913, or until their success
sors shall have been elected and qualified.
| ARTICLE VI
Liability Of the stockholders of this cor
poration for the contracts or faults of said
| corporation Is limited TO any unpaid balance
| that may be due by them respectively on
| their subscriptions. No mere informality in
this act of Incorporation shall render this
Charter void or expose stockholders to liza
| bility beyond the amount of their unpaid
subscriptions.
| ARTICLE VII
| This Charter may be mended or this cor
poratiOn may be dissolved with the assent
| Of the stockholders holding a m jority of
| the outstanding stock at a general meeting
| convened for that purpose and at least ten
| days notice shall have been given to the
stockholders through the mail addressed
| to their respective places of business.
In case of dissolution by the expiration Of
this charter or otherwise, the affairs of this
corporation shall be liquidated by three
| stockholders to be elected at the meeting
| ordering such liquidation.
This charter shall serve as the original
| subscription list, the undersigned being the
original subscribers to the capital stock Of
this corporation in the amounts and for
| the number of shares opposite their respect
i've names and signatures.
Thus done and passed, in my office al New
Orleans, Louisiana, on the day and date
| hereinbefore written and in the presence Of
L. r. Eisenberg and L. p. Bryant, Jr., CON-
petent witnesses, who hereunto sign their
names with the said appearers and me, no.
| tary, after due reading OF the whole
| Original signed: Jacob Israel, 80 shares /:
A. NJ. Darragh, 20 shares Michel Levy 1
share. Witnesses: L. X. Eisenberg L. P
Bryant, Jr.
| ARTHUR p LEOPOLD,
Notary Public.
/, the undersigned recorder Of mortga ges
| In and for the parish of Orleans, Louisiana,
| do hereby certify that the above and fore
Of Of inc TN, 80 h. r n