The herald. [volume] (New Orleans, La.) 1905-1953, 1915-02-25
CHARTER
OF "GERsoN REALTY COMPANY, INC"

State OF Louisiana, Parish Of Orleans, City |
Of New Orleans.
BE 1t known. That on this 10th day Of the |
month OF January, IN the year thousand |
nine hundred and fifteen, before me, lheO- |
dOre \. SChuher. a notary public, duly com |
mrSSioued and qualified, IN and for The Par |
ISh ot Orleans, State OF Louisiana, aforesaid, |
therein residing, and IN the presence OF the |
witnesses hereinafter named and under |
signed, personally came and appeared the |
several parties whose names are hrreunto |
subscribed, and Severally declared that avail |
ing themselves OF the laws OF the state OF |
Louisiana, IN such cases made and provided, |
they have Cuvcuanted and agreed and do by |
these presents covenant and agree an! bind
themselves well such other persons a.
may hereafter become associated with them
to form corporation and body polite m
law, Tor the objects and purposes and under
the articles and stlpulatons following, to-
ARTICLE The name Of this corporation
shall he 'CersOu Realty Co, Inc. and
under its said corporate name II shall have
power and authority and to enjoy corporate
existence and succession for the full term
and period OF ninety nine (99) years from
and after the date hereof, 10 contract, to|
sue and be sued. to make and a cor
pordtc seal, aud the same To alter and break
at pleasure, TO hold, to receive. purchase.
hyPOthcCdte, convey, sell, lease or pledge real
and personal property, to issue negotiable
bonds and notes or other evidence OF debt,
TO name and appoint such managers, agents,
directors and officers its business inter
est and convenience may require; TO make
and establish as well alter and amend
from time to time such bylaws. rules and
regulations for the proper government Of the
affairs 81 this corporation as may be neccs-
sary and proper.
ARTICLE 1.-The domicile Of this cor.
poration shall be IN the City OF New Or
leans, State OF Louisiana, and all citation
and other legal process shall be served upon
the president OF this corporation, or IN the
event OF his absence upon the secretary.
IN he al, = l,th
| OF sand officers upon either yIce-preSident OF
| the company.
ARTICLE. III-Thc objects and purposes
| Tor which this corporation Is organized and
| the nature OF the business to be carried on
| by II are declared to be:
| The dealing IN, acquiring, purchasing, hold
| ing selling, mortgagIng, bonding, leasing,
| manufacturing, alternating, improving devcl-
| opIng or IN anywIse enCumbcring real estate
| IN any OF the forms that may be deemed most
| advantageous for the purpose Of carrying
out ITS business and 10 hold, sell mortgage,
| lease or purchase improved or unimproved
| properties of any kind. within the State OF
| Louisiana, and to develop. reclaim. drain or
cultivate any lands held or acquired by it,
| To contract tor dredging, the construction OF
| canals and levees and any other ConStric.
| ton or engineering work connected with OF
| collateral to land reclamation. and in such
| connection to operate railroads tramways
| and navigation canals, to build roads and
| highways, To construct wharves, warehouses
| landings. piers, station houses and other i'm
| provcmentS necessary, and 10 and operate
! all floating crafts as the needs OF the bust.
| ness may dictate. In furthering the object,
| and purposes OF this corporation II shall hav,
| the right TO extend the operation OF its affair
to any point within the state which may b.
| deemed advisable or within the state as it
| necessities may require, at which pom
branches may be established. 1t shall hav,
| the authority TO contract for the construction
| OF all necessary constructions and ediices, 4
develop town sites in connection with tn
| work OF reclamation and developing and L
lay out streets, roadways and alleys for III
convenience of the inhabitants and in gen
eral to do any and all things that may b
| incidental to any of the lines of bushes
heretofore set forth. This corporation
further authorized to deal in the purchase an
| sale of stocks and bonds and other securi
ties and commercial paper, and act fnan
cial agents for any other corporation, FRI
or individual.
ARTICLE IV.-The capital stock of thi
corporation is hereby fixed at the sum Z
Fifty Thousand CSSO,OOOOO) Dollars, divide
into and represented by Five Thousand e
OOl shares of stock at the par value of TIE
$1,000 Dollars per share Said stock sha
he paid for IN cash at such time, and aftt
such notice to the subscribers as the boar
OF directors may fix, the same may
issued at not less than par value for labc
! done or services rendered for the said co
poratlon or property rights actually receive
by said corporation
The amount to which the capital stock ma
be increased shall at time exceed Or
|
| Dollars.
This corporation shall become a going col
Germ, and shall be authorized to common,
business when and as soon Twenty-FiN
| Thousand tS25,000O) Dollars of its capt.
stock shall have been subscribed and pa
for.
ARTICLE V.-AlI of the corporate powe
| of said corporation shall be vested i'm ar
exercised by board of directors. TO be cor
posed of not more nor less than five {
stockholders. a majority OF whom sitting
| any time shall constitute a quorum, said dire
| tors to be elected annually on the secor
Monday in January, beginning with the ye
1910 Each stakeholder shall be entitled
| person, or by written proxy, to one vote ,
each share of stock owned by him and stan
ing in his name the books of the corpor
ton. All elections shall be held under SUI
rules and regulations may be determin,
+ by the board of directors but, after legal n
A tice of such election shall have been Civ,
to each stakeholder by mail sent to his la
known address, by publication in q
= English language in the City of New G
leans, for at least IS days preceding su
q | election. The directors thus elected sh;
a continue in office until their successors sh;
have been duly elected and qualified.
J. failure to elect shall be regarded as a e
n TEXTURE of this charter. Any vacancy occr
! ing on said board of directors shall be I'LL
u by the remaining directors for the unexpir
y term. Said board of directors shall at
!. hrst meeting after its election, elect from
IL members a president, two vice-presdents
a northumberland. Said board of directe
. shall have the right and power to dismi
e and appoint such clerks and employees
the corporation, as conditions may JUST
or the business of the corporation may
quire. The tenure of the Office of all e
~ poyees of the corporation shall be duri
. the pleasure of the board of directors. T
y board OF directors may from among its nu
In Der appoint executive committee. viii
said committee, shall consist of three
Q, members, including one of the officers of I
s. corporation, and the board of directors m
delegate such managerial powers as it dee
u necessary to the executive committee. sh
III report at each meeting of the board of dir
a tors. The said board of directors may ma
u and appoint such other committees it m
rs | deem necessary for the purposes of the bu
!, | ness OF this corporation.
" ARTICLE Vino stakeholder shall e
re be held liable responsible for the C
tracts, faults or debts of this corporate
nor shall any mere informality in its orga
zation have the effect of rendering this oh
at ter null, of exposing its stockholders
Id any liability beyond the unpaid balance
i Il. 81 med hxy theu