The herald., 1913-11-13

constitute and form corporation and body
polite in law. for the object aud purposes
and under the terms, articles and stipula-
tons following, tO-wit
ARTICLE The name and title OF
this corporation shall be the GILBERT
BJ \GALOW COMPANY, and by that cor
pOrate name it shall have and enjoy sue
cesSiOn for period of ninety nine years, ana
shall have all the authorities generally
vested in corporations under the law, ana
more particularly authorized 10 contract
sue ana he sued; 10 make aud use SOrpOr-
ate seal; 10 make and issue bonds and
notes; TO borrow and lend money, 10 sell,
mortgage, pledge, lease and transfer prop
crty in any OF its forms TO employ man
ayers, directors, Officers, agents, clerks or
| superintcndeuts uS the interests Of the com
pauy may require 10 make bylaws, rules
ana regulations for the management OF It's
affairs. ana to possess ali the pOWeIS
granted and intended 10 be granted 10 cor
pUratiouS in general and in order to carry
out these objects and purposes OF It's organ
IZatIuu.
ARTICLE 1.-THE d)micile OF this cor
pOrutiOn shall Dee in the city OF New Or
! leans State Of Louisiana. and all citations ot
other legal process shan b. served upon
the President or in his absence upon the
Vice. President, or In the ahsenc" OF bJih,
upon the secretary treasurer, al The DOM
Gle Of the company.
ARTICLE Iil-'The objects and purposes
Tor which this corporation IS formed ana
The nature Of the business 10 be carried on
ay IL are hereby declared TO De : 20 buy, sell,
own, exchange real property, Improved or
mimprOved ia the state Of Louisiana or
elsewhere. TO build. construct, dcmoilSh, re-
pair or otherwise erect bungalows, dwelling
houses, stores, or other structures on real
estate owned by it or belonging 10 other
persons, particularly 10 do every act and
thing in connection with the general real
estate and building business including ali
the accessories usually appertaIninE there
10. also 10 engage in the business OF real
estate a-cuJ and broker in all its branches.
ARTICLE lN-lhe capital stock OF this
/ H.t- ul &. no
one Hundred Thousand Dollars tSlOO,OOOD,
represented by one thousand shares OF
one hundred dollars tSlOoOOD each,
10 he paid for IN cash or its equl-
ydlrnI. This corporation shall De go
inc concern. and fully organized as such, as
soon Is ten thousand dollars OF its capital
stock shall have been subscribed for. No
stakeholder shall ever be liable or reSpOn-
Sln.e for the contracts faults or defaults Of
tai, corporation, nor shall any mere infor-
maliry in the organization Of the corpora
tiou have the effect Of rendering this char
ter null or Of exposing the stockholders TO
any liability beyond the unpaid balance on
this stock subscription.
No transfer Of shares of stock by a share
holder shall De binding on this corporation
unless same appears upon the books there
Of; no shareholder shall sell or dispose Of
his stock without having offered the same
for sale in writing 10 the corporation,
through its Board Of Directors, who shall
have the first opportunity OF purchasing
same at the book value thereof; and
SHOULD the Sdlu bOaTu OF l'lTttlbIS IAN VI
refuse to purchase said stock within thirty
days from said notice, the shareholder Of
ferlng said stock may sell or dispose or
same to any other person whatsoever.
ARTICLE N-All the corporate powers
Of this corporation not reserved 10y law TO
the stockholders shall be vested in and eI-
erciSed by a Board OF Directors TO be com
posed hy three stockholders, two OF whom
shall constitute a quorum to transact bust
ness The said Board OF Directors shall
elect from their number a President, Vice
I - .s.aay -,
Directors shall he elected annually on the
first Thursday OF October In each year.
Any vacancies occurring in said Board
shall be filled from other stockholders by
the remaining directors for the unexpired
term.
Until the election on the first Thursday
Of October. 1914, the following shall serve
as the first Board of Directors Of this cor
bert. Austin ]. Grehan and Charles g.
Schramm, with Mr. William Z. Gilbert as
President, and Mr.. Austin J. Grehan as
vice-preSident and Mr.. Charles G. Schramm
las SecretsTy-Treasurer
ARTICLE NI-ThiS charter may be mOdl-
fled, changed or altered, or this corpora.
ton may be dissolved with the assent of
three-fourthS Of the capital stock represented
at a general meeting Of stockholders con-
vened for that purpose, after ten days pre-
viouS notice shall have been given to each
stakeholder mailed to his residence, as il
appears on the books OF the company.
ARTICLE VII-Whenever this corpora
ton is dissolved. either nv limitation or
otherwise. its affairs shall be liquidatetd by
three stockholders elected as liquidatinG
commissioners at general meeting OF
stockholders TO be convened for that pur-
pose, after ten days previous notice to his
last known residence, ii appears on the
books Of the company. The said Liquidating
Commissioners shall remain in office until
the affairs OF the corporation shall have
been settled and liquidated. and shall have
power TO receive all the assets thereof, and
distribute the proceeds. IL any, and in case
OF any vacancy by death or otherwise OF
any OF the liquidating commissioners, same
shall be filled by the survivor or survivors,.
Thus done and passed in my ONCE,
in the City OF New Orleans, on the
date first above written. in the pres
ence OF MesSrs. Horace ID. Knapp and
John ]. McCloskey, competent witnesses,
who have signed these presents with the
said appcarers and me, notary, after due
reading OF the whole.
Original signed W. X. Gilbert, -
shares Charles G. Schramm, 40 shares
Austin ]. Grehan, l share Witnesses
T.. L. Cousin, Not. Pub.
l. the undersigned. Recorder OF Mort
Cages. In and for the Parish of Orleans
State OF Louisiana, de hereby certify that
the above and foregoing Act Of IncOrpOra-
tiOn OF the Gilbert Bungalow Company was
this day duly recorded In my office. in
Book 1119, folio 151.
New Orleans. October 10th. 1913.
Signed Emile Leonard. u. r.
4 true copy.
F.. L. Cousin.
Notary Public
Oct. 16 80 80 Nov. IL 20 1913.