The herald., 1915-05-20

ps''u ny san, steam, gasoline. electri
L IVY or other power: 20 construct, owl
I ana operate telegraph and teIepnon
4 INES as well as railroads for the trans
!. portatlon OF passengers and freight anC
operated by steam. electricity, gasoline
I. OF other power; to construct own am
operate canning factories, mills 70,
manufacturing cane into syrup ant
, sugar and other mills, machines and
. factories, as the Board of Directors NAV
uSleI'nlne, TO carry on the business OF
farming, stock raising and merchandiz.
ing IN all their branches; to construct
own and operate saw mills; to create
ana establish drainage districts and
drainage systems on the lands which il
Shall acquire, drain such districts and
TX land charge on the lands of such
uIstrlcts for maintaining such drainage
anu systems; 10 carry out, establish,
construct maintain, improve, manage.
work, control and superntend. any
ways roads, tramwayS, ferries bridges.
HaTDOrS, water courses. WharVeS, leVeeS.
eihpahKments, hydraulic works, hotels
anu Othef works; and. generally, To do
ana engage in any other business. under
| taxing, or enterprise connected with
growing out of. or incidental to, any of
the purposes hereinabove set forth
Article lN.-The capital stock of said
| corporation is fixed at the sum of five
| hundred thousand dollars. divided into
! ten thousand shares of the par value of
my dollars each, of which three thous-
| ana shares shall be preferred shares or
| STOCK and seven thousand shares shall
| be common shares or stock
me holders of preferred stock shall
NOT ne entitled to cast any vote at any
! meeting of stockholders on account of
being holders of such preferred stock
IL belnS expressly provided that only
! holders of common stock shall vote at
the meetings of stockholders
The corporation shall purchase from
Alfred J. Moore, for the sum and price
hereinafter set forth the following de-
SSSrlbed property. in the Parish of St.
CHARLES, State of Louisiana. to-wit:
The Southwest quarter and South half
OF the southeast quarter of Section
| Seventeen; the Southeast quarter and
the Southeast quarter of Southwest
quarter of Section Eighteen; all of Sec
lions Nineteen. Twenty and Twenty-one
and that part of Section TWENTY-FIVE
west of Section Forty-fOur: that part of
section Twenty-seven west of Section
eight, Twenty-Five, Thirty. Thirty-one
and Thirty-twO; all of Section Thirty
three west of Section FOrty-four; in
township Fourteen, South. Range
That part of Section Four west of
Section Thirty-seven: all of Sections
Five, Six and Seven; that part of Sec
ton Eight west of Section Thirty-seven;
all of Section Seventeen west of Sec
ton Thirty-Seven; the North half of
Section Eighteen: all of fractional Sec
ton Nineteen west of Section Thirty
seven; in Township Fifteen, South, |
Range Twenty-one. East:
All of Section Twenty-Five; all of Sec
ton Thirty-hVe east of Grand Bayou. |
except the Northwest quarter; all of |
Section Thirty-six; in Township Four
teen, South, Range Twenty. East.
All of Sections One and Two: all of |
Section Three East of Grand Bayou: all |
portions of Sections Ten and Eleven |
east of Grand Bayou and North of |
Twelve and fractional Section Thirteen; |
in Township Fifteen, South, Range |
Twenty. East.
All being in the Southern Land Dis
trict west of the Mississippi River and |
embracing thirteen thousand six hun
dred and forty-eight and eighty-three |
one hundredths U3,64S S3-100ths) acres |
of land, more or less, the said acreage
being taken from the government plats
and original government surveys. |
Together with all buildings, improve
ments, canals, bitches. levees. pumping
plants, with pumps and appurtenances,
farming implements, machinery, and all
hXtureS and appliances of every sort, |
kind and description thereto attached or
Herewith conneCted-Of which land two
thousand eight hundred and sixty acres
are substantially reclaimed:
Which said land. property, improve
appraised by the Board of Directors of
said corporation and by the subscribers
hereto, at the sum of seven hundred and
thirty-three thousand and five hundred
dollars.
For said property, said corporation is
to pay to said Moore the sum of seven
hundred and thirty-three thousand and
i've hundred dollars, 10 be paid and set
lied as follows:
First: This corporation shall issue to
said Moore seventeen hundred shares of
is preferred stock and six thousand,
nine hundred and seventy shares of it's I
common stock. all full paid and nom I
issessable and said Moore hereby sub {
'cribes for said shares of stock the S
same to be paid for by being accepted
is part of the price of said property and 5
cal estate to said corporation:
Second: This corporation shall pay to I
aid Moore the sum of siXty-five thous- 5
md dollars, cash. at the signing and eX- {
cution of the contract of sale, and shall !
make further payments as follows: c
Thirty thousand dollars on or before 7
darch Is, 1916; ]
Thirty thousand dollars on or before {
darch Is, 1917;
Thirty thousand dollars on or before T
iarch Is, 1918; /
Thirty thousand dollars on or before t
1arch Is, 1919; and b
Fifteen thousand dollars on or before C
Said deferred payments to be repre- t
ented by promissory notes to be given G
y this corporation, drawn to it's own a
rider and by itself endorsed, bearing t
interest at the rate of six per cent per a
mum, payable annually, from date I'M v
IL paid, and secured by vendors lien p
nd special mortgage upon said proper 4
y and real estate with all the usual n
clauses, the same to be exc 4
uted at the time of the making and de- s.
very of the title by said Moore to this b
and b
Third: For the balance of the pur- s
base price, 500, 100000, the said Moore L
hall proceed to form. or cause to be o
)rmed. a drainage or sub-drainage dis 81
let, covering a tract of land contain
lg approximately twenty-eight hum el
red acres, (part of the land above de- 81
,ribed.) on which reclamation work is ii
completed, and shall Ii
iuse to be issued thereon bonds to
,ver such reclamation work already m
)ne and to be done, said bonds to be fl
sued under and in accordance with V
rticle PSI, of the Constitution of the s,
.ate of Louisiana, in the sum of one m
inbred thousand dollars, which bonds di
lall be accepted and taken over by said OF
core at par. in full payment of said pt
dance of said price: provided, how m
'er, that this corporation, or its as
GINS, shall have the right to take over CO
id bonds at par, and to pay said of
GORE in lieu thereof the sum of one ri
inbred thousand dollars in cash at the tn
me of the issuance and delivering of eS
i'd bonds-it being understood that of
is corporation is to pay the expenses sh
forming said drainage or sub-6rain- cl
-e district, not exceeding, however, the co
m of three thousand dollars. bu
Other subscriptions to said capital ar
ock shall be paid in cash, at such time of
d in such amounts as may be deter en-
med by the Board of Directors. sa