The herald. [volume] (New Orleans, La.) 1905-1953, 1914-02-26
CHARTER
OF ORLEANS INVESTMENT COMPANY

OF ORLEANS INVESTMENT COMPANY.
United States of America, State Of Louisiana,
Parish OF Orleans, City Of New Orleans.
Be it known, that on the nth day OF jan
uary in the year Of our Lord one thousand nine
hundred and fourteen, and Of the independence
OF the United States OF America, the one hun
bred and thirty eighth, before me, William J.
FormentO, a notary public, in and Tor the
parish Of Orleans. state Of Louisiana, duly
commissioned and qualIhed, and IN the pres
enCe OF the witnesses hereinafter named and
undersigned, personally came and appeared
the several persons hereto subscribed, all OF
full age who severally declared that, avail
ing themselves OF the laws OF the state OF
Louisiana, and especially OF act IS OF 1919, in
such case made and provided, they have
agreed to and do hereby form themselves into
and constitute a corporation, and do, by the
articles of incorporation, hereinafter set forth,
agree and bind themselves as well as all such
persons may hereafter become associated
with them 10 form and constitute a corpora
ton, for the objects and purposes and under
the stipulations hereinafter set forth and GER
tify as follows to-wit:
Article The name of this corporation
shall be the Orleans Investment Company"
and by that name it shall be known and snail
enjoy succession for the term of ninety nine
years from and after the date hereof, unless
sooner dissolved.
Article II--As such corporation it shall
have power 10 sue and be sued to enter into
any contract, to borrow and loan money, TO
purchase, own, lease, sell and otherwise con-
vey real and personal property; to make and
use corporate seal; to name and select dlrec-
tors, managers, agents, and other officers; to
make bylaws and to establish rules and reg
ulatIons for the management OF the business
aud affairs of said corporation; and to exc,
cute and issue bonds and other evidences OF
debt and to secure the same by mortgage OF
otherwise.
Article III.-The domicie of this corpora.
ton shall be the city of New Orleans, parish
of Orleans, state of Louisiana, and all legal
process shall be served on the president, or
II his absence, upon the secretary.
Article IV-The objects and purposes OF
this corporation shall be to buy and sell real
personal and mixed property; TO mortgage and
accept mortgages upon real estate; and TO Dor
row and loan money upon any security &C
ceptable 10 it.
Article V-The capital stock of this corpor-
alton is hereby fixed at the sum Of five thou.
sand dollars (S5,OOO.OO), which shall be divided
into two thousand dollars (S2,0OOO0) of com
mon and into three thousand dollars (SOO0.0O)
of preferred. OF the common there shall be
forty shares (+O) of the par value of fifty dol
lars (S5O.OO) each; and of the preferred there
shall be sixty shares (60) of the par value
OF fifty dollars $4,000 each. The said pre-
terred stock shall be entitled TO receive divi-
bends at the rate of ten 00) per cent per an
mum, payable semi-annually, on the first Mon
day of January and on the first Monday OF
July of each year, out of the earnings OF said
corporation, before any dividend shall be paid
upon the said common stock and such divi-
dends shall be cumulative so that any def
cheney in the dividends to be paid on said pre-.
ferred stock in any year shall be made good
out OF the earnings of subsequent years be-
fore any dividend shall be paid upon the said
common stock. And in case the earnings OF
the corporation shall permit a dividend in ex-
cess Of said ten Q0 per cent, so TO be paid
seml-annually, the said excess earnings, who'll
ly or in part, as the directors may deem ad-
vlsable, shall be paid TO the common stock.
holders. And on the final liqidaton and dis.
tribution of its assets, arrears of dividends
Ia he maid 70 he boil 81 4
stock, and the shares of preferred stock shall
be paid in full before any payment shall be
made to the holders of the common stock; but
when such arrears of dividends and the face
value OF such preferred stock shall have beer
paid, the holders thereof shall receive nc
other or additional payment.
Article NI.-The said preferred and common
stock may be issued for cash, for services
actually rendered to and for property actually
received by this corporation, and when issued
shall be fully paid and worcestershire. This
corporation shall begin business when three
thousand dollars (S,0O000) has been sub
scribed for. No transfer of stock to be bind
its books
Article VII.-All the corporate powers Of
this corporation shall be vested in board
of directors composed of FIVE 81 stockhold
ers, three of whom shall constitute a quorum
for the transaction of all business. Which
directors shall be elected at the annual meet
ing OF the stockholders, to be held on the
such Monday be dies non, in which even
the election will take place on the next lega
day thereafter, beginning with the year 1915
Said election shall be held upon ten days no
tice, duly mailed to each stakeholder, at hi
last known address. The election Of direc
tors shall be by ballot and each stakeholder
whether of common or preferred stock. shall
be entitled 10 one vote for each share Of stool
owned by him, which stock may be voted il
person or by written proxy. A majority o.
all the votes cast shall be necessary TO ar
election. In the event that any vacanc,
occur in the board of directors, whether BY
resignation, death otherwise, a specia
meeting Of the stockholders, called as afore
said, shall be held to fill the vacancy.
Immediately following the adjournment o
the first annual election, the board of direc
tors snail hold meeting and organize By
electlng president, vice president, a secre
tary, treasurer, and such other officers a.
the directors may deem proper. The said off
GERS shall hold Office until their successor,
have been elected and have qualified. The sale
directors shall have the power to provide, BY
the necessary bylaws, the duties of the vaIi
Gus officers. The failure TO hold annual meet
inngs or to elect officers shall not forfeit thi!
Article VIII.-The board Of directors Il
manage the affairs and business of this cor
poration, up. to the first Monday, in January
Igl5, shall be Albert L. Stewart, Edwin p
Muller, Jacob Zoelly, Charles L. Stewart anc
Miss Ella Morales, with Albert L. Stewart
president, Jacob Zoelly, icepresident, Edwin
p. Muller, secretary, and Miss Ella Morales
treasurer.
Article IX-These articles Of incorporation
may be modified, changed or amended, and
this corporation may be dissolved, upon the
vote Of -fourths Of the capital stock rep
resented at a general meeting held for that
purpose, after thirty days previous notice
given in one newspaper, published in the city
Of New Orleans, state of Louisiana, at which
meeting or at any stockholders meeting, eaot
stakeholder shall be entitled to one vote fol
every share of stock owned by him, whethei
it be preferred or common, and which may
be voted personally or through written proxy
And in addition to the notice by newspaper
publication, each stakeholder shall be entitled
to written notice of any stockholders meet