The herald., 1914-01-22

Article VI.-The corporate powers of this
| corporation shall be vested in and exercised
| by a board OF directors composed of FIVE stock
holders, majority of whom shall constitute
| a quorum IN the transaction of all business,
which said directors shall be elected at a
general meeting of the stockholders of this
corporation TO be held on the first Monday
in January of each year and notice of said
election shall be given by publication in a
daily newspaper published in the English Ian
guage in the city OF New Orleans, for the
period of at least ten days previous to said
election and 10 give each stakeholder a writ
ten notice addressed to his or her last known
residence. The said board al its first meet
ing shall elect from its members president,
vice president. a secretary, a treasurer, a
recording secretary.
Article VII.-The first election for directors
under this charter shall take place on the
first Monday IN January, 1919, until which
time or until their successors shall have been
duly elected and qualified the following
named shall constitute the first board Of di-
reCtors Pedro Grave DE Perslta, Rodo,fo
Perez, Salvador LeJarza. Augusta Martelo J.
and Oscar ID. Hebron, with Pedro Grave de
Peralta, president and general manager; Ro-
dolfo Perez, vice president; Salvador LeJarzs,
financial secretary; Augusta Msrtelo J., treas
urer and Oscar ID. Hebron, recording soCre-
tary, with Paul Louis FourChy, attorney for
the corporation.
The failure from any cause to elect direc-
tors the day stipulated shall not dissolve
this corporation, but the officers and directors
thcn IN Office shall hold over until their
ceSSors shall have been duly elected and quail
Ihed. In the event OF any failure to hold the
election on the day stipulated, the president
shall call a new election Immediately there
after on ten days notice as hereinbefore pro
vided At all elections and meetings OF
stockholders each stakeholder shall be emit
tied TO one vote for each share Of stock regis.
tered IN his name, and may vote in person OF
by proxy All elections shall be by ballot
Article NllI.-The board Of directors shall
have power to NIL all vacancies IN its mem
borshlp from among the stockholders Of this
corporation The board Of directors shall have
full controo and management Of the property
of this corporation and shall so conduct. man
age and use the same as IN ITS discretion IL
may deem ht and consistent with the objects
OF this corporation and its welfare Ii may
make and establish we'll as alter and
amend any and all bylaws, rules and reg
ulations necessary and proper in its judgment
tor the conduct, support and management Of
the business and affairs OF said corporation.
And shall appoint such officers, agents. ser
wants and clerks as may be necessary for cen
Quoting the business OF the corporation. shall
nX their compensation and have the right to
dismiss them At pleasure.
Article IN.--ThiS charter may be modified.
changed Or altered, or said corporation may
be dissolved with the assent of two-thirds OF
meeting OF the stockholders convened for
such purpose, after ten days previous notice
shall have been given each stockholder, ad.
dressed TO his residence as 1t appears the
the laws OF Louisiana.
In case Of the dissolution o. termination of
this corporation either by limitation OF its
charter for any other cause. its affairs
shall be lquidateo by three commissioners
selected by its stockholders at a general meet
ing held as above set forth; and the said
commits SIoncrS shall remain in office until the
affairs of the corporation shall have been IL
quidated. In case of the death or inability
or incapacity Of one more of said com
missisners, the survivor or survivors shall
Article No stakeholder of this corpora
ten shall ever be held liable or responsible
for the contracts of this corporation or its
faults, in any further sum than the unpaid
balance due the company on the shares OF
stock subscribed for or owned by him, nor
the effect of rendering this charter null, or of
exposing any stakeholder to any liability be-
yons the unpaid balance, if any due on his
stock.
Thus dsne and passed, at the city of New
Orleans, state of Louisiana, on the day
month and year herein first above written, in
the presence of Messierus P. l.. Fourchy and
NJ. A. Verlander, competent witnesses who
have hereunto subscribed their names, to-
gether with the said appearers and me- no
tary, each of said appearers having set oppo-
SIT ehis signature the number of shares of
stock subscribed by him, hereby constituting
the signatures hereto, the list Of original sub
scriptisns made for the purpose of organ
izing this corporation.
Original signed: Pedro Grave de Peralta, |
SIS shares; Rodolfo Perez, 2lO shares: Augusta |
hartelo j., los shares; Oscar d. Hebron, |
los shares; Salvador Lejarza. 400 shares
Witnesses: p. L. Fourchy, NJ A. Verlander |
SIDNEY +. GAUTIER, Notary Public
/. tn undersigned recorder of mortgages in
and for the parish Of Orleans, state Of Louis. |
ana, do hereby certify that the above and |
fsregsing act Of Incorporation of the United |
States Land Development Company, Ltd, was
this day duly recorded in my Office in book |
lll9, folis =.
New Orleans, December "a, 1913.
(Signed) EMILE ]. LEONARD, DIV. r. |
A true copy:
SIDNEY F. GAUTIER, Notary Public. |
dec Is jan Is % 9