The herald. [volume] (New Orleans, La.) 1905-1953, 1915-02-18


date of this charter.
Article 1.-THE domicile OF said cor
pOratiOn shall be in this City and Parish
and legal process and citation shall be
served on the President or in his alb
scnce on the Secretary or Treasurer OF
the corporation.
Article III.-The objects and purposes
of this corporation and the nature OF its
business are hereby declared To be. to
buy and sell property, real, personal or
mixed, improved or unlmprOHeu, To pur-
chase vacant lots, build houses or other
improvements thereon and resell the
same either for cash, on inStallment
plan or in such other manner ana on
such terms as may be determined by
it's board of directors TO purchase mort
gage notes. bonds and other securities
and sell or pledge the same, as well as
all notes arising from sales made by
this corporation, to rent and lease prop
erty, to borrow and lend money on mort
gage, pledge or otherwise, and generally
To do and execute all acts and contracts
pertaining to, connected with or incl
dental to the objects and purposes above
specified.
Article IV.-The said corporation shall
have two classes of stock, namely. pre-
frrrcd stock" and and common stock"
Dividends from the net earnings of
| the corporation shall he declared, al
| lotted and paid to the stockholders
| yearly on their respectiv" shares of
stock as follows and in IL" following
order to-wit:
l. Up to Eight per cent by prefer
| ence on the preferred stock.
| - Up to Eight per cent. from the
| surplus, on the common stock
| 3 Up to Four per cent. from the
remainder. on each class of stock.
- The balance. if any, On the COM
| mon stock only.
| The preferred stock shall also have
| preference over the common stock as to
/ the assets Of the corporation and in all
| distributions thereof. And the SAID pre-
| ferred stock shall have no voting power.
| Il .t sid
| corporation is hereby fixed at Forty
thousand dollars. divided into Eighr
| hundred shares of the par value of FlttN
| Dollars each, Four hundred of said
| shares to be preferred and the other
| Four hundred shares To he common
stock, which said shares, preferred as
II we'll as common, may be pald Tor III
| cash or ISSUED for labor done or prop
| rrty actually acquired or Received by th'
| corporation. in such manner and at Suci
time as the board of directors Of th'
| corporation may direct.
The capital stock may u" lncrtdSe'
| to "A sum not exceeding one hundred an,
| forty thousand Dollars.
Article Wall corporate powers o.
this corporation are hereby vested in :
| board of three directors, each Of whom
; shall own in his own name at least on
| share of common stock OF the corpora
| ton and any two Of whom shall con
stitute a quorum for the transaction o
, | business.
said directors shall be elected by
, | ballot, under such rules as may ~
: adopted by the board. and each stock
. holder shall he entitled To one vote II
: person or by proxy, at all elections %
other meetings for each share OF com
. mon stock held by him.
I The board of directors shall be electe'
on the Second Tuesday of January, an
nually, except the first board. winch J.
= hereby declared to be composed OF IN
p following named persons, tO-wit: Claud
\ Hortman, David Sivcwright and Evertol
: NJ Schlegel. and the said directors a
4 well as all directors hereafter electe'
shall continue in office until their sue
e. cesSors shall have been duly elected an
r qualified
n The board Of directors shall at its frs
/ | meeting elect from its number a pres
Q dent, a vice-president a secretary ana
o | officers into one
. Until the meeting Of the board of Iii
5 rectors To be elected on the Second Tues
Y day OF January, 1916, the folloWln
i named persons shall he the officers q
the corporation and they shall serve
= such until their successors shall nav
f been elected and shall have qualified Il
$ wit: CLAUDE HOFFMAN, Presiden
= DAVID SIVEWRIGHT, Nice-Presiden
e and EVERTON NJ. SCHLEGEL, Seer,
: tary and Treasurer.
r Should an election fail to be made q
e the day fixed. from whatever cause, III
T same shall be held on any other da
s named by the board.
: The board OF directors shall have Il
Y power to make and establish all bylaw
r | rules and regulations for the prOp'
l. management of the affairs of the col
pOratiOn.
IT he held liable or responsible for the col
IS tracts or faults of the corporation in an
l. further sum than the unpaid balanc
n il any be due, on the stock tor VIM
he informally in organization have u
n effect of rendering this character nu
Ii | or of exposing a StockhOlder to any III
| bility beyond the amount due on n
IN stock as aforesaid.
of Article VIII-Stockholders shall n
CT have the right to sell their stock wit
p out first offering IL in writing Tor
period of ten days, through the board
al directors, to the other stockholders,
s, the actual cash value thereof as esta
I'd lished by the assets of the CORPORATE
Mt and by the books and accounts of q
ir Article iX.-This corporation sha
Id have the right to commence business
ct soon as Twenty Thousand Dollars
it's capital stock shall have been su
nd scribed for and this act of incorporate
shall have been recorded according
A. law 1t shall have and enjoy all q
rights. powers, privileges and advantag
}: granted by law to corporations IN III
is, Article X.-On the liquidation of ii
fy corporation by limitation of its chart
or or otherwise its affairs shall be liq
Sc dated and settled by two liquidators
~ be appointed by the stockholders as pr
~ vided by law.
Article XI-The names and pos
| office addresses of the subscribers
X. | these articles of incorporation and I
number of shares subscribed for by ca
of them are as follows:
Claude HOFFMAN, S0O5 Hickory Sire
New Orleans, La, two hundred shar
. common stock. David Sivewright, as
Elm Street, New Orleans, La, one hu
dred shares, common stock. Everton
, Schlegel, SOIL Hickory Street, New
- teams, La, One hundred shares, comm
OF stock.
of Article XII-The paries hereto ha
annexed to this act an accurate, detail
ay and itemized description of the proper
OF to be transferred to said corporation
nd payment of stock subscribed for,
he gether with the value thereof as {
in | praised by the board of directors he
I'd inabove named. And the same has b
M signed by the said appearers and pa
he phed "Ne Varietur" by me notary
no Identification with these presents.
nj the said CITY of New Orleans, on the
nd the said Civ of New Orleans, on the
an and in the month and year herein fl
We above written, in presence of AN
of Grima and John P. Blancq, both of Law
tho age and residing in this City, com
INV tent witnesses who have signed tn
ws presents with the said appearers {
81, me, Notary, after due reading or
raj whole.
cts CThe original is signedD Alfred Girl
ms ]. p Blancq, Claude Hortman, ID. 81
to- wright, E. NJ. Schlegel. Edgar Girl
Not. Pub.
his /, the undersigned Recorder of NJ
.er- cages in and for the Parish of Orlea