The herald., 1914-01-22
CHAR
Wg~NwWs - aWzMNT
OLE ORLEANS

|
| United States of America, State OF Louisiana,
! Parish of Orleans, City of New Orleans.
| BE it known, that on the fifth day of Jam
| 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
| dred and thirty-eighth, before me, William J.
parish Of Orleans, state of Louisiana, duly
commissioned and quallhed, 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 1904, 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 as may hereafter become associated
with them to form and constitute a corpora
tion, for the objects and purposes and under
the Stipulations hereinafter set forth and GER
tify as follows to-wit:
Article 1.-The name of this corporation
shall be the Orleans Investment Company"
and by that name it shall be known and shall
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 to 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 direc-
tors, managers, agents, and other officers; to
make bylaws and to establish rules and reg
ulauOnS Tor the management OF the business
and affairs of said corporation; and to exc
cute and issue bonds and other evidences of
debt and to secure the same by mortgage or
otherwise.
Article III.-The domicile 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,
in 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 bor-
row and loan money upon any security ac-
Article V.-The capital stock of this corpor-
alton IS hereby fixed at the sum of five thou
into two thousand dollars (S2,0O000) of COM
mon and into three thousand dollars (S,000O0)
OF preferred. OF the common there shall be
forty shares (40) of the par value of fifty dol
lars (S5O0Ol each; and of the preferred there
shall be sixty shares (60) of the par value
OF nifty dollars (S5000) each. The said pre-
ferred stock shall be entitled to receive divi.
dends at the rate of ten (l0) 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 dividend in ex-
cess OF said ten QO per cent, so to be paid |
semi annually, the said excess earnings, Who'll |
ly or in part, as the directors may deem ad- |
vIsable, shall be paid to the common stock |
holders. And on the final liqdation and dis
tribution of its assets, arrears of dividends |
shall be paid to the holders of such preferred |
stock, and the shares of preferred stock shall |
be paid in full before any payment shall be
70 Ii Lz1I Al.
when such arrears Of dividends and the face
value of such preferred stock shall have been
paid, the holders thereof shall receive no
other or additional payment.
Article VI.-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
corporation shall begin business when three
thousand dollars (S3,0O000) has been SUBJ
scribed for. No transfer of stock to be bind.
ng upon the corporation until made upon
Article VII.-All the corporate powers of
his corporation shall be vested in board
II directors composed of FIVE (9 stockhold-
RS, three of whom shall constitute a quorum
or the transaction of all business. Which
directors shall be elected at the annual meet
ng Of the stockholders, to be held on the
lrst Monday OF January, of each year, unless
uch Monday be dies non, in which event
he election will take place on the next legal
lay thereafter, beginning with the year 1915
said election shall be held upon ten days no.
ice, duly mailed to each stakeholder, at his
ast known address. The election Of direc-
ors shall be by ballot and each stockholder
whether of common preferred stock, shall
'e entitled to one vote for each share of stock
wned by him, which stock may be voted in
'erson or by written proxy. A majority of
il the votes cast shall be necessary to an
lection. In the event that any vacancy ;
ccur in the board of directors, whether by
esignation, death or otherwise, special
Meeting Of the stockholders, called afore-
aid, shall be held to fill the vacancy.
Immediately following the adjournment Of
he first annual election, the board of direc-
ors shall hold meeting and organize by
lecting president, vice e-president, secre- :
ary, treasurer, and such other officers as
he directors may deem proper. The said off,
ers shall hold Office until their successors
ave been elected and have qualified The said !
directors shall have the power to provide, by !
ne necessary bylaws, the duties Of the vari-
us officers. The failure to hold annual meet
ngs or to elect officers shall not forfeit this ;
harter.
Article VIII.-The board of directors to