The herald. [volume] (New Orleans, La.) 1905-1953, 1915-02-11
CHARTER
OF "GERSON REALTY COMPANY, INC"

OF "GERSON REALTY COMPANY, INC
State OF Louisiana, Parish OF Orleans, City
BE 1t known. That on this 10Th day Of the
month OF January, III the year one thousand
nine hundred and fifteen, before me. lheo-
dOrc \. SChuber, a notary public, duly com
mssioued and qualified in and for the Par
ish OF 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 herrunto
subscribed and severally declared that avail
ing themselves of the laws ot the State OF
Louisiana, in such cases made and provided,
these presents covenant and agree and bind
themselves a. well as such other persons as
may hereafter become associated with them
TO form a corporation and body polite IN
law, for the objects and purposes and under
the articles and stIpulatIons following, To-
wit:
ARTICLE The name Of this corporation
shall he "Gerson Realty Co.. Inc" and
under its sand corporate name il shall have
power and authority and to enjoy corporate
existence and succession for the full term
and period OF nIncty-nIne (y9) years from
and after the date hereof, 10 contract. to-
sue and be sued, 10 make and use a cor
porate seal, and the same to alter and break
AZ pleasure, to hold, TO receive, purchase.
hypothecate, convey, sell, lease or pledge real
and personal property, to issue negotiable
bonds and notes 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 well as alter and amend
from time to time such bylaws, rules and
regulations TOR the proper government OF the
affairs OF tins corporation as may be neccs
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
a a..
event OF his absence upon the secretary
treasurer thereof, and IN the absence OF both
OF SAID officers upon either vice-president Of
ARTICLE III.-Thc objects and purposes
for which this corporation is organized and
the nature Of the business to be carried on
by II declared to be:
The dealing in, acquiring, purchasing hold
ing, selling, mOrtgagIng, bonding. leasing,
manufacturing, alternating, improving. devel-
uping, or IN anywIse enCumbering real estate
IN any OF the forms that may be deemed most
advantageous Tor the purpose of carving
out ITS business and to hold, sell MORTGAGE
lease or purchase improved or uninlproyrd
properties OF any kind, within the State Of
Louisiana, and to develop, reclaim, drain or
cultivate any lands held or acquired bv il
10 contract for dredging, the construction of
canals and leveeS and any other Construc-
tlon or engineering work connected with or
collateral 10 land reclamation, and in such
connection To operate railroads, tramWays
and navigation canals, to build roads and
highways, 10 construct whaTveS, warehouses,
landings, piers, station houses and other i'm.
provementS necessary, and to use and operate
all hOdting crafts as the needs OF the bust
ness may dictate. In furtherng the objects
and purposes Of this corporation it shall have
the right to extend the operatio1 Of itS affairs
TO any point within the state which may he
deemed advisable or within the state as its
necessities may require, at which point
branches may be established. 1t shall have
the authority 10 contract for the construction
OF all necessary constructions and edifces tn
develop town sites in connection with the
work Of reclamation and developing and 10
lay out streets, roadways and alleys for the
convenience OF the inhabitants and in gen
eral TO do any and all things that NAV be
incidental to any of the lines OF business
heretofore set forth This corporation is
| iuTtheT authorized to deal in the purchase and
sale Of stocks and bonds, and other securi.
ties and commercial paper, and act As fnan.
Cldi agents Tor any other corporation, firm
or individual.
corporation Is hereby fixed at the sum OF
Fifty Thousand CS50,OO0UO Dollars. divided
INTO and represented by Five Thousand 6
~ ggV6D shares OF stock at the par value of Ten
| tSlO.OOl Dollars per share. Said stock shall
| be paid for in cash at such time and after
| such notice to the subscribers as the board
| OF directors may fix, or the same NAV he
| issued at not less than par value for labor
| done or services rendered for the said cor.
Poration or property rights actually received
| by said corporation
The amount to which the capital stock NAV
| be increased shall at no time exceed one
hundred and Fifty Thousand ($l5OOOOO)
| Dollars
| This corporation shall become a going con.
Germ, and shall be authorized to commence
| business when and as soon as Twentv.Fivt
| Thousand (S25OO.OO Dollars of its canital
stock shall have been subscribed and PAID
| for. pow
ARTICLE V.--All of the corporate power.
OF SAID corporation shall be vested in and
| exercised by a board of directors. to be com,
| posed OF not more nor less than five Isl
| stockholders, majority of whom sitting al
| any time shall constitute quorum, said direc.
! tors to be elected annually on the second
Monday IN January, beginning with the wear
| 1910 Each stockholder shall be entitled in
| person. or by written proxy to one vote or
each share OF stock owned by him and stand.
| ing IN his name on the books of the corpora.
| ton. All elections shall be held under such
| rules and regulations as may be determined
| by the board of directors but, after legal no
tlce OF such election shall have been given
to each stockholder by mail sent TO his last
| known address, or by publication in the
| English language in the City of New Or.
leans, for at least IS days preceding such
| election. The directors thus elected shall
continue in office until their successors shall
| have been duly elected and qualified. Nc
| failure to elect shall be regarded as a for
TEXTURE OF this charter. Any vacancy occur
| ing on said board of directors shall be filled
| by the remaining directors for the unexpiret
| term. Said board of directors shall at its
FIRST meeting after its election, elect from it.
members president, two vice presidents,
| secretary-treasurer. Said board of directors
shall have the right and power to disms.
| and appoint such clerks and employees Of
| the corporation, as conditions may justify
| or the business of the corporation may re
| quire. The tenure of the office of ali EN-
| ployees of the corporation shall be durin,
| the pleasure of the board of directors TIL,
| board of directors may from among its mum
| Der appoint an executive committee, which
said committee, shall consist of three Is
members, including one of the officers of tht
| corporation, and the board of directors ma,
delegate such managerial powers as it deem
| necessary to the executive committee shall
report at each meeting of the board of direc
| tors. The said board of directors may nam,
and appoint such other committees as it ma,
deem necessary for the purposes of the bust
ness of this corporation.
| ARTICLE Vino stakeholder shall eve
be held liable or responsible for the con
tracts, faults debts of this corporation
nor shall any mere informality in its organi
zaton have the effect of rendering this char
ter null, or of exposing its stockholders t
any liability beyond the unpaid balance du
on the shares of stock owned by them.