The herald. [volume] (New Orleans, La.) 1905-1953, 1913-01-02

OF Louisiana, therein residing, and In the
presence of the witnesses hereinafter named
and undersigned, personally came and an
peared: the several persons whose names
are hereunto subscribed who declared, that
awaiting themselves of the privileges of the
laws of this state relative 10 the formation
of corporations, they have covenanted and
agreed, and do by these presents covenant
and agree and bind and obligate themselves
as well as all such persons who may here
after become associated with them, to form
and constitute body corporate and polite
in law, for the purposes and objects and
under the stipulations and provisions fol
lowing, to-wit:
ARTICLE 1.
This corporation shall be known as the
Lacombe Park < Forest Glen Building Com
pany, and under such name it shall have all
the rights, privileges and advantages grant.
ed by law to corporations including the
right, power and authority to enjoy success
sion and corporate existence for ninety-nine
years, unless sooner dissolved. Said cor
poration shall have power and authority to
contract; to sue and be sued and to hold
receive, purchase, convey, deliver, mortgage
hypothecate and pledge any real or per-
Sonal property; to make and use a cOrpor-
ate seal and the same TO break, alter or
amend at pleasure, and to issue notes and
other obligations, or other evidences of debt
and to do all other things necessary for the
proper transaction of its business
ARTICLE H.
The dOmicile of this corporation shall be
in the city Of New Orleans, parish of Or r.
leans, state of Louisiana, and all citations
and other legal process shall be served upon
the president, and in his absence, upon the
vice-president, and In the absence of both
upon the secretary-treasurer.
ARTICLE III.
The objects and purposes for which this
corporation Is created, are hereby declared
TO be: to buy, sell, improve and generally
personal and mixed; to build houses, stores
and other buildings, and the same to rent
or sell, or otherwise dispose of or use and
generally to do every and anything not
herein specially enumerated, and not in
consistent with the other objects and pur-
poses herein set forth.
ARTICLE ".
The capital stock of this corporation Is
hereby fixed at the sum of ten thousand
(Sl0,00O.00) dollars, divided into, and rep
resented by, one hundred (100) shares Of
the par value of one hundred (S100.00) dol
lars each said shares of stock shall be IS
sued only at par, and when issued shall be
paid for In cash or property, or the equIva-
lent 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 duly recorded on its
books. No holder of stock in this corpor
alton shall sell his stock to any person un.
til he has first offered II to the board Of
directors Of said corporation at its then
book value, and 1t shall be optional for this
corporation to refuse TO recognize any trans
fer OF stock made in violation Of this pro
vision.
This corporation shall be a going concern
as soon as three thousand (S3, 00O0 dol
lars OF its capital stock shall have been
subscribed and paid for as hereinbefore pro-
vided.
ARTICLE v.
All the powers of this corporation shall
be vested In, and the management and con-
troll Of its affairs shall be exercised by, a
board Of directors, TO be composed Of three
stockholders, and the first board of direc.
tors shall be composed OF John II. Davis
Charles III. Willard and Meyer Eiseman, with
Charles II. Willard acting as president, John
III. Davis as vice-president, and Meyer Else
man as secretary treasurer. The said board
Of directors and said officers shall serve and
remain in office until the first Monday in
November, 1913, on which day and annually
thereafter the said board of directors shall
be elected by the stockholders at a meeting
called for that purpose. All directors and
officers shall hold office until their success
sors shall have been elected and qualified,
and any failure to elect directors or officers
shall not be regarded as a forfeiture Of this
charter.
In the election Of directors, each stock
holder shall be entitled to one vote for each
share Of stock held by him, which must be
cast either In person or by duly authorized
proxy, and the majority Of votes cast shall
elect. Any vacancy occurring In the boar
Of directors may be filled by the remaining
directors for the unexpired term. At the
first meeting Of the board Of directors after