The herald. [volume] (New Orleans, La.) 1905-1953, 1913-07-03
CHARTER
REALTY ASSETS COMPANY.
sTATE OF I.OITISI MA PA RISII n

REALTY ASSETS COMPANY.
STATE OF LOUISIANA, PARISH OF
Be 1t known that on this 5th day OF
June. 1913, before me. Martin H. Ma
MON. Notary Public. duly commission
ed and qualified in and for the parish
and appeared in my Office. Edward B.
Ellis. Charles A. Wallbillich and
Francis J: Keller, of legal age and resi-
dents Of New Orleans. all of lawful age
and residents of this City. and de-
clared:
ARTICLE THAT pursuant to the
laws CT this State. they hereby form
TY ASSETS COMPANY for a term of
ninety-nine years, with a domicile in
the City of New Orleans, Louisiana,
where all legal process shall be served
on the president, or in his absence, the
secretary, for the purpose of dealing
in, purchasing, selling and mortgaging
real estate in Louisiana or elsewhere;
to develop and improve the same; to
construct and repair houses and build
tngs; and generally to do a real estate
business In all Its details for itself, and
also as agents for others; with power
to contract. sue and be sued. to make
and use corporate seal; to borrow and
loan money secured by mortgage or
otherwise; and to have all the powers
granted by law, to do all things ne
cessary to carry out the purposes of
this corporation.
ARTICLE 1.-THE capital stock of
this corporation is fixed at s5O,OOO.OO
divided INTO $50 shares Of Common
Stock and ESQ shares of Preferred Stock
preferred Stock to be non-veting) of
a par value of $4,000 each, to be paid
for in cash at such time as the Board of
Directors may determine or which may
be issued for services rendered or for
property actually received.
The Preferred Stock shall be entitled
only to annual dividends at the rate
OF eight per cent. payable semi-annual-
ly, on the LIST of January and July in
each year. which shall be cumulative.
In case of the dissolution of this cor
poration, the Preferred Stock shall be
liquidated at par, before the Common
est in the assets or profits Of the COM
pany.
The Preferred Stock or any part
thereof. may be retired by the Board
of its issuance, or at any succeeding
six months, upon the payment to the
holder the par value only and all divi-
dends due to the date of payment.
as going concern when thirty-one
shares have been subscribed by the
Signers hereto.
ARTICLE III-An corporate powers
OF this corporation shall be vested in a
board of not less than three 90, nor
more than five 60 directors, a majority
OF whom shall constitute a quorum;
they shall elect from their number, a
president, vice president and a Secre-
tary-treasurer; the board shall be elect
ed by ballot on the first Wednesday of
January. 1914, and annually thereafter,
under such rules as may be prescribed
by the board, each share of stock being
entitled to one vote. and a majority of
votes shall elect. Either the president
or the vice president may hold the Of
fee of secretary-treasurer. Edward B.
Ellis, Charles A. Wallbillich and
Francis ]. Keller are declared to be the
first Board of Directors. to serve until
the first Wednesday of January, 1914,
or until their successors are elected and
qualified, with Edward b. Ellis as pres
ident. Charles A. Wallbillich as vice
president, and Francis ]. Keller as
ring on the board shall be filled by the
remaining Board Of Directors.