The herald. [volume] (New Orleans, La.) 1905-1953, 1914-06-11

canals, tunnels, bitches, fumes, drainage
systems, controlling works, power plants and
irrigation works or plants, OF whatsoever kind
or nature, for the purpose of irrigating lands,
retaining submerged lands, or storing wat
ers, and the draining and conveying of wat
ers from one place or places TO another place
or places.
To develop mineral oil lands, lay pipes TO
convey minerals and oil and gas, or to barge
the same, and TO deal generally in minerals,
gas, oil and mineral gas or oil lands, IN or
out of the State of louisiana, and for these
purposes II shall have power TO buy, sell and
lease gas and oil lands, 10 erect buildings, to
bore wells, to purchase, erect and operate
machinery, to borrow money, to buy, make,
operate, lease and rent tank cars and tanks,
and to do all things necessary, requisite or
convenient to carry out the purposes above
set forth, as well as all powers inherent in
and to corporations
To acquire by purchase otherwise, own,
hold, buy, sell, convey, lease, mortgage or
cucumber real estate or other property, per
sonal or mixed, and to survey, subdivide,
plat, improve and develop irrigated, sub
merged and other lands Tor the purpose of
sale or otherwise, and to do and perform all
things needful and lawful for the development
and improvement of the same for agricultural,
planting, cattle raising, residence, trade and
business.
Article III. The capital stock of this cor
poration is hereby fixed at the sum of fifty
thousand dollars, divided into and represent
ed by five hundred $500 shares of the par
value of one hundred dollars $4,000 each.
Said stock shall be paid for in installments
of such amounts and at such times as the
board of directors may determine, but any
part or parcel of said stock may be issued
by said board of directors at not less than
par in payment of labor done property
actually received by safe corporation.
This corporation shall commence business
and be going concern as soon as three
thousand dollars S3,00O.00) of its capital stock
shall have been subscribed for, and this char
ter signed and executed by the incorporators.
Article ~. All the corporate powers of this
corporation shall be vested in and exercised
by a board of three 90 directors, TO be COM
posed of stockholders, two (2) of whom shall
constitute a quorum for transacting all bust
ness. The board of directors shall be vested
with full power and authority to make all
contracts, purchases and sales, and adopt all
bylaws, rules and regulations for the govern
ment of the business and affairs of the COM
pany, and alter, amend and change the same
at pleasure; appoint, hire and discharge all
officers, agents and employees, TX all salaries,
and generally do and perform all things neces-
sary in the transaction of the business and
affairs of the company. Any vacancy occur
ring in said board shall be filled by the re-
naming directors in the manner provided for
in the bylaws.
The first board of directors Of this corpora
ton shall consist of Jacob Israel, Isidore
Israel and Ruth Israel, with the said Jacob
Israel president, Isidore Israel vice
president, and Ruth Israel as secretary treas
urer, who shall hold their Offices until the
fourth Monday of May, 1914, or until their
successors are duly elected and qualified.
On the fourth Monday in May, 1915, and
annually thereafter, an election for diTec-
tors shall be held at the office of the COM
pany under the supervision of two commits
sloners TO be appointed by the president, and
the directors then elected shall take their
seats Immediately and shall hold office until
their successors are duly elected and qualified.
Each board shall elect its own officers, which
shall consist Of president, vice president,
a secretary treasurer; two of said Offices may
he 81 nv he
All corporate elections shall be by ballot,
and majority of the votes cast shall elect,
and at all stockholders meetings held for
any purpose, each share of stock shall be en-
titled 10 one vote, either in person or by
proxy, by the person in whose name same is
registered on the books Of the company, and
the board Of directors may close the stock
transfer books for a period not exceeding
thirty days before any meeting.
Written notice of stockholders meetings
shall be given to each stakeholder by the
secretary at least ten Q0) days
prior to elections, by mailing same, postage
Article V. This act OF Incorporation may
be changed, altered or modified, or the cor
poration dissolved, with the assent of three
fourths Of the stock present or represented
at any general meeting of the stockholders
convened for that purpose after 80 days prior
notice Of such meeting shall have been given
by publication in one of the daily newspapers
published in the city of New Orleans, by
three publications during said period, and
such changes as may be made in reference to
the capital stock shall De made in accord
ance with the then existing laws on the sub
ject.
Article VI. Whenever this corporation is
dissolved by limitation Of its charter, or from
any cause, its affairs shall be liquidated by
two commissioners to be appointed from
among the stockholders at meeting of the
stockholders convened for that purpose after
90 days prior notice shall have been given
by the secretary-treas to each stakeholder.