The herald. [volume] (New Orleans, La.) 1905-1953, 1915-05-13
ACT OF INCORPORATION
OF wASHLEY FARM & DEVELOPMENT
COMPANY INCORPORATED

| Or WAOnLEI fANm q DENELOPMENI
COMPANY INCORPORATED
State of Louisiana, Parish OF Orleans, City
of New Orleans.
BE it known that, on this, the third day
OF the month of April, in the year of our Lord
one thousand nine hundred and fifteen, OF
| the Independence OF the United States of
| America the one hundred and thirty-uinth,
| before me, Charles +. Fletchinger, a notary
public, duly commissioned and qualified in
! and for the State, Parish and City aforesaid,
therein residing, and in the presence of the
| witnesses hereinafter named and undersigned,
personally came and appeared the several per
sons whose names are hereunto subscribed,
! who declared that, availing themselves of the
| laws of this State relative to the formation
/ and organization of corporations, they have
covenanted and agreed and do, by these
| presents, covenant and agree and bind them
/ selves, well all such persons as may
| become associated with them, to form them
selves into corporation for the objects and
purposes, and under the conditions and stipu-
| lations OF the articles following, to-wit:
| Article 1.-The name and title of the said
corporation shall be: Washley Farm & De-
velopment Co., Inc, and under its said cor
porate name 1t shall have the power and
! authority, and enjoy succession for the full
| term and period OF ninety-nine years from
and after date hereof, TO contract, and
| be sued; to accept and receive mortgages,
pledges or other hypothecatons; to make and
use a corporate seal ana the same to break
and alter at pleasure; TO purchase, receive,
| lease, hold or otherwise acquire and convey
as we'll as mortgage and hypothecate under
| ltS corporate name, property DOtn real ana
personal and mixed; to name and appoint such
managers and directors, officers and agents,
| and establish branch offices at its domcie,
| or elsewhere, as the interest and conven-
| fence of said corporation may require and
| to make and establish, as well as alter and
amend at pleasure such bylaws, rules and
regulations for the proper management and
| regulation OF the affairs OF said corporation
| as may be necessary and proper.
| Article 1.-THE domicile of the said
poratiou shall be at New Orleans, State OF
I nd all a,1 9th ~ al
processes shall be served upon the president
or in his absence, or inability to act, upon
any other officer OF the corporation.
| Article 1II-The objects and purposes for
| which this corporation is organized and the
nature of the business TO be carried on by
] it hereby declared TO be: to own, to &c
quire, by purchase, lease, donation, exchange
or otherwise, and to sell or ALLEVIATE real and
personal property of every description and
kind, 10 rent, buy, sell, mortgage, hypothe-
cate agricultural and other lands in the
State of Louisiana; to lease and carry on
| stock farms and planting operations OF every
character; to deal in dairy products, cattle,
farm products or other merchandise, and to
have such general and individual powers as
may be necessary in furtherance of the OBJ
jects and purposes herein set forth or such
as natural person might have or exercise,
| and to have and be vested with such powers
as are conferred upon corporations of the same
kind and character, under the laws OF the
State of louisiana; to exchange its capital
stock, or any part thereof, fol-, property and
Article IV-The authorized capital stock of
this corporation is hereby fixed at the sum
of twenty thousand (s26,OOOOO) dollars. di.
yided into two thousand (2,0OO) shares of the
par value of ten $1,000 dollars each, Ill of
which shall be common stock, and the same
may be issued for cash money or in payment
of property or services actually received by
or rendered to said corporation. This corpor-
alton shall commence business and become a
going concern as soon as ten thousand !SlO,-
10000 dollars of its capital stock shall have
been subscribed and one-half thereof paid
for: said stock shall be non assessable.
The parties hereto declare that they each
subscribed for the number of shares of said
capital stock set opposite their respective
signatures hereto, an aggregate OF Sl0,SOUO
(ten thousand eight hundred dollars), the
same to be paid for in cash or in property,
leases or other chooses in action or notes of
the value satisfactory to the holders: The
pecially authorized to dispose of the stock
for any and all the purposes above stated as
! in its judgment may seem tar and proper.
The capital stock of this corporation may be
increased to the sum one hundred thou
sand (SlO00O0.00) dollars, in accordance with
the provisions of the law pertaining thereto;
No present or future stakeholder shall be
allowed to sell or transfer his stock in this
company, except by inheritance without hrst
offering the same to the company through its
president, or vice president. If the company
fails to purchase the stock so offered at its
book value as shown on the preceding Decem-
Der 3lst. within FIVE days from such offer.
then the stakeholder desiring to dispose OF
his stock may sell and transfer the same.
All stocks so purchased by the company shall
be reissued by it and offered to each stock
holder in proportion to their holdings, at the
price the said shares were so purchased. II
any stakeholder fails to purchase the stock
so offered to him, then the company may sell
the same at the highest price obtainable.
Article Vail the powers of this corpora
ton shall be vested in and exercised by a
board of directors of not more than FIVE and
not less than three directors, each OF whom
shall hold in his own name on the books OF
the company at least one share of stock. The
number of directors within said limits and
the number required to constitute quorum OF
the board shall be fixed from time to time
by the bylaws. Said board of directors shall
be elected annually, by ballot at a stock
Office of the corporation the fourth Tues
day of each year after due notice given to the
| stockholders by mail at least fifteen days
before the date of the said meeting. Failure
, 10 elect directors on the date above specified
! shall not dissolve the corporation, but the
directors then in Office shall remain IN ottce
Until their successors are elected The board
of directors at their first ri"etIrg following
each annual election sha!: el1ct from thei'
number a president and OF: more yIce
| residents, and they shall likewise elect
but not necessarily from their number, a
secretary and a treasurer and such other
, officers as the board of directors shall deem
necessary. The board shall have power in its
discretion to unite two or more offices and C
confer the same upon one person and shall
have the power to FIX the salaries of all OH
GERS and of such further officers and agents
as they deem necessary. The board Of di
rectors shall have the power to make and es
tablish, well as alter and amend, all by,
I laws, rules and regulations necessary and