The herald., 1912-06-27

cession for period of ninety-nine years
from date hereof, and 1t shall nave ana e1, H,
ercise for the purposes OF It's business al,
the powers, rights and privileges conferred
by law on similar corporations, and IL shali
be and Is further authorized and empowered
to do and perform any act or thing anu
conduct any and all business usually con
nected with and pertaining to the analrs
and business set forth In Article III or tnls
charter and which is not specially pronlplt-
ed by law. .,,. =.
hold own, receive, purchase and lawfully
acquire by deeds Of conveyance. contract,
lease. rental or in any other lawful manner
the title and ownership to all property reaI,
personal and mixed, which II may deem
useful and expedent to hold, use ana EN-.
pl0y for or in connection with the exercise
and use of its corporate rights, powers ana
purposes, and likewise with full power and
authority to ALLEVIATE, dispose or, lease, rent,
sell. convey, mortgage, hypothecate, pledge
or otherwise cucumber its property, real,
personal or mixed or any part thereof
II shall have power to borrow money, and
to issue notes, bonds and other evidences
of Indebtedness from time TO time, and TO
secure the payment OF the same or any part
thereof, by pledge or hypothecation or prop.
erty, or by mortgage or other EVIDENCES Oh
lien placed upon its property, 1ranchlses'
real. personal and mixed, or any part there
II shall have power to elect officers and
directors to name and appoint lts mana
gers, agents and other employees, ana 20
fix their compensation, and TO dlscnarge
the same at will; to establish and ADOPT
such bylaws, rules and regulations as may
be deemed expedient and proper for the con,
duct and management OF Its property an9
business and the same TO alter, amend and
abolish at pleasure; to make and use a
common or corporate seal, and the same 70
break and alter at pleasure, and generaIly
to do and perform all acts and Things re-
uuisite and necessary TO carry out lhe op
iects and purposes of this corporation.
ARTICLE ii.
The domicile OF this corporation shall be
in the City OF New Orleans, State or Lou
isiana, and all citations and other legal pro
cess shall be served on the president and IL
his absence on the vice-president, and IN
the absence of both of said officers on the
retary-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 and per
sonal, necessary or convenient TO be so &C
ouired and used in order to more efectually
carry out the main design OF the organi
zation Of the company:
ARTICLE Nv.
The capital stock of this corporation Is
hereby fixed at the sum OF fifty thousand
dollars $3.50, ,OOO), divided into and repre-
sented by five hundred (5OO) shares OF the
par value Of one hundred dollars (S1OO 90,
each, to be paid for in money, or for labor
done or services rendered or such stock as
may be issued or delivered for lands and
other property to be taken. accepted anO
received by the corporation for It's corporate
purposes at such valuation and upon such
terms for said stock as the board of direc
tors may determine and direct from time
to time to be expedient. The capital STOCK
of the corporation may be increased or re
duced by proceedings take in the manner
The stock of this corporation may be is
sued for money. for labor done or services
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
poreal, accepted and received by the copper
alton for its corporate purposes In payment
exchange or otherwise, for any Of the stoch
and shares Of this corporation and fixed by
the board of directors upon such terms anC
conditions for the issuance Of such stocl
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
such stock and shares issued to II, him, hel
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
each, every, any and all contracts contract
or undertaking made by or entered into witt
this corporation 1hall be subject to this pro
| vision OF this charter.
All of said stock shall be full paid and
| non-assessable when issued and delivered
| and transfers thereof shall not be bindins
| 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 (s3,0OO)
ARTICLE V.
The corporate powers Of this corporation
| including the power to make and amend 1t!
bylaws and the management and contro
Of its affairs shall be vested In and exer
| cised by a board Of directors, composed o.
not less than three or not more than sever
persons, who shall be the holder of at leas
one share Of the capital stock Of this com
pany, a majority Of whom, represented
either in person or by proxy shall constitut.
a quorum for the transaction of all bust
ness.
| Any director in his absence from an!
| meeting Of the Board of Directors shal
have the power to appoint in writing an!
other director or stockholder as his proxy
with full power to act In his stead at sucl
| meeting.
The directors shall be elected annual,
by ballot by the holders of the stock on tn
| first Tuesday In June Of each year. Eacl
holder of stock shall be allowed~to vote II
person or by written proxy, one vote for eacl
share of stock owned by him, and all elec
| tions shall be held under such rules an,
regulations as may be adopted by the boar,
Of directors. The directors thus elected
shall continue in ofice for one year AM
until their successors shall have been dul,
| elected and qualified. Any failure to elec
officers or directors shall not be regarde,
as a forfeiture of the Charter. Any vacanc,
occurring on said board Of directors shal
be filled by the remaining directors for tn
| unexpired term.
The following persons shall be and con
stitute the first Board of Directors Jaco
| Israel, Albert NJ. Darragh and Michel Levy
| a majority of whom shall constitute a quo
rum, with Jacob Israel as president, Alber
NJ. Darragh, vice-president and Michel Levy
secretary-treasurer, who shall be the frs
officers Of the corporation and shall serv
until the regular meeting on the first Tues
day In June, 1913, or until their succes
sors shall have been elected and qualified.
ARTICLE vi.
| Liability of the stockholders of this col
poration for the contracts or faults Of sal
that may be due by them respectively o
their subscriptions. No mere informality 4
this act Of Incorporation shall render thi
Charter void or expose stockholders to lis
bility beyond the amount Of their unpai
ARTICLE VII.
This Charter may be mended or this col
poration may be dissolved with the assen
| Of the stockholders holding a m jority o
the outstanding stock at general meetin
convened for that purpose and at least te
days notice shall have been given to tn
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