The herald. [volume] (New Orleans, La.) 1905-1953, 1915-11-25
CHAR Ter

nov > QCG = 10 = 80
OF THE ALGlERS LAND COMPANY,
INCORPORATED.
State OF Louisiana, Parish OF Orleans, City
Of New Orleans.
Re i, known, that on this 10Th day OF the
month OF October, IN the year of our Lord one
thousand nine hundred and fifteen, and OF
the independence of the United States Of Amer
lea the one hundred and fortIeth, before ne,
. Martin :. MdhUuCy, a notary public, duly
commissioned and qualified IN and for this
city and the parish OF Orleans. therein re
siding, and IN the presence Of the witnesses
hereinafter named and undersigned, personally
came and appeared the several persons.
whose names are hercunto subscribed, who
I scycrally declared that, awaiting themselves
OF the provisions OF the laws Of the state OF
Louisiana. and more especially Of Act No. .
. Of 1914 they have covcndutcd and agreed and
! do, by these presents, covenant and agree
and bIud themselves, as we'll as such other
persons as may hereafter become associated
! with them. 20 form corporation and body
polite IN law. for the objects and purposes
/ and under the agreements and StIpulatlyus
following, 'O-wlt:
Article 1.-The name of this corporation
/ shall be the "Alglcrs Land Company, Iuc0r-
poratcd." and under that name It sfiall have
and enjoy all the rights, privileges and ad
vJntagCS, granted by law 10 corporations,
u shall exist tor period ot ulucty-uiuc wears
from date hereof, unless sooner dissolved by
thorsty 10 sue and Dee sued m its said cor
pDratc name, T. make and use d corporate
seal, and the same 90 break or alter, az pleas
urc. To- hold, receive. purchase, Lypothcyitr.
convey, sell, lease, or pledge. real and per
/ Surdl property; To issue negotiable bonds and
I notes or other evidences Of Indebtedness; 20
/ name and appoint such managers, agents, d.
/ rcCturS and officers and other employees as
! the interests OF sand corporation may demand
| or require: 20 make and establish such by
/ laws, rules and regulations for the proper
/ management and control OF the business and
affairs OF the corporation as may be deemed
I necessary or cNpcdicnt.
/ Article 1.-THE d1ulicile Of said corpora
! ton shall be IN the city OF New Orleans
/ State OF Louisiana, but II may establish
| offices and agencies IN other parishes OF the
! state Of Louisiana and throughout the United
States OF America; all legal process shall be
! served upon the president, and, IN his abb
! s-ucc, upon the vice president; and IN the alb
/ seuCe or disability of both, then upon the sec
| rctarv Of the corporation.
! Article 5-Thc objects and purposes for
| which this corporation Is organized and the
! nature of the business 10 he conducted and
carried on by it are hereby declared 10 he
/ the dealing IN, acquiring, purchasing. hold
/ ing, selling, mortgaging, bonding, leasing,
| improving, developing real estate in any OF
I its forms whether improved or unimproved,
I within the state Of Louisiana or other states;
! to develop, reclaim. drain or cultivate any
| lands held or acquired by It; TO contract for
/ dredging and construction Of canals and
| lcvees and any other works necessary or
| convenient for the improvement of any and
/ all property belonging TO the corporation.
| Article 4-The capital stock Of this corpora
| :ion shall be, and is, hereby fixed at the sum
! Of twenty thousand dollars S2l0O0C0), di-
vdcd into twenty thousand (9po) shares OF
/ the par value of dollar (SlOD) each per
! share. Said stock shall he paid for in cash
/ at such time and after such notice to the sub
| ScriberS as the board of directors may direct
or the same may be issued at not less than
par value for labor done or services rendered
/ for the said corporation; for property
| property rights transferred and actually re-
Ceived by said corporation, and in accordance
with law
The amount to which the capital stock may
he increased shall. at no time exceed one hun
/ bred and fifty thousand dollars (Sl5O,OOO0Ol.
! This corporation shall become going con-
| Germ and engage in business Just as soon as
/ fifty $50 per cent Of the amount of stock
subscribed shall have been actually paid, and
in accordance with Act 267 of 1914.
Article V-All Of the corporate powers Of
| said corporation shall be vested in and exer.
| cised BY a board Of directors TO be COM
any five of which shall constitute a quorum
| for the transaction of any business Of the
corporation; the board of directors may be
increased to twenty-five (25); said directors
to be elected annually on the second Monday
of January of each year beginning with the
year 1917
Each stakeholder shall be entitled to one
vote fer each share of stock owned by him
and standing i'll his name on the books Of
! the corporation, to be cast by him in person
| or by written proxy. All elections shall be
: held under such rules and regulations as may
| be determined by the board Of directors, but
only after legal notice of such election shall
| have been given TO each stakeholder by mail
| sent TO his last known given address, or
| by publication in the English language in
one of the newspapers published in the city
! of New Orleans. The directors thus elected
shall continue in office until their successors
shall have been duly elected and qualified.
! No failure to elect at the time appointed shall
| have the effect of causing forfeiture of this
| charter Any vacancy occurring on said board
| of directors shall be filled by the remaining
| directors for the unexpired term. Said board
| of directors shall, at it's first meeting after
| its election, elect from its members a presi-
dent, vlce.president, a secretary and
treasurer Said board of directors shall have
the right TO appoint and dismiss such clerks
and employees of the corporation at any time
that conditions may justify or the business
OF the corporation require. The tenure of
Office of all clerks and other employees of the
corporation shall be at the pleasure of the
board of directors. The board of directors
may, from among its number, appoint an ex-
ecutivc committee, which said committee shall
consist OF three 80 members, including one
of the officers Of the corporation, and the said
board may delegate such managerial powers
as II may deem necessary or advisable to
the SAID executive committee, which shall
make reports at each meeting of the board
of directors. The said board of directors may
name and appoint such other committees as
IT may deem necessary for the purpose Of the
best interests of the corporation.
Article Vino stockholder shall ever be
held liable responsible for the contracts,
faults debts of this corporation, nor shall
any mere informality in its organization have
the effect of rendering this charter null, or Of
exposing its stockholders TO any liability be
You'd the unpaid balance due on the shares Of
stock owred by them.
Article VII.-This act of Incorporation may
be changed, altered or amended. or said cor
poration dissolved with the assent and votes
Of the stockholders owning two-thrds Of the
issued stock of the corporation, at a meeting
Of the stockholders convened for that purpose
after notice shall have been given TO each of
said stockholders as provided ia Article Of
this act Of Incorporation, except that when
ever in the judgment of the board of direc-
tors il shall be Ceemed advisable, and for
the best interests Of the corporation and IFS
stockholders that il should be dissolved, the
board, within ter O0) days after the ado2-
ton Of -Csolution TO that effect, by a r3-
jority IF the whole board at a meeting called
for that 1urpose, OF which meeting each Girsc-
tor shall have received at least three 90
days previous notice, shall cause notice of he
adoption Of such resolution to be mailed 20
each stakeholder together with the notice
Of a meeting Of the stockholders TO be held
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