The herald. [volume] (New Orleans, La.) 1905-1953, 1915-05-13

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CITY or other power; to construct owl
ana operate telegraph and telephon,
INES, as well as railroads for the trans
Iportatlon or passengers and freight and
operated by steam, electricity, gasoline
or other power; to construct own and
| operate canning factories, mills fol-
| manufacturing cane into syrup and
| sugar and other mills, machines and
factories, as the Board of Directors may
! determine; to carry on the business OF
| farming, stock raising and merchandise
! 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
! snail acquire, drain such districts, and
| nix land charge on the lands of such
districts for maintaining such drainage
ana systems; to carry out, establish,
construct, maintain, improve, manage.
work, control and superintend. any
ways, roads, tramways, ferries, bridges.
harbors, water courses, wharVeS, leVees,
embellishments, hydraulic works, hotels
anu other works; and, generally, to do
ana engage in any other business, under
taking, or enterprise connected with,
growing out of, or incidental TO. any of
the purposes hereinabOve set forth.
Article IV.-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
nifty dollars each, of which three thous-
and shares shall be preferred shares or
stock and seven thousand shares shall
be common shares or stock.
The holders of preferred stock shall
not be entitled to cast any vote at any
meeting of stockholders on account of
being holders of such preferred stock
II being 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-
scrlbed property in the Parish of St.
Charles, State of Louisiana. to-wit:
The Southwest quarter and South half
or 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
Forty-four; all of Sections Twenty
eight. Twenty-nine, Thirty, Thirty-one
three west of Section Forty-four; in
Township Fourteen, South, Range
Twenty-one, East:
That part of Section Four west of
Section Thirty-SeVen; all of Sections
Five, Six and Seven; that part of Sec
tion Eight west of Section Thirty-seven;
all of Section Seventeen west of Sec
ton Thirty-seven; the North half of
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-fiye 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
Black Prince Bayou: all of Section
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 G3.64S S3-l00thS) 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
fixtures 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
mentS, buildings, etc, are valued and
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
five hundred dollars, to be paid and set
tied as follows:
First: This corporation shall issue to
said Moore seventeen hundred shares of
its preferred stock and six thousand,
nine hundred and seventy shares of it's
common stock all full paid and nom
10. and -nfl AfAnrn hnr ahryS h
scribes for said shares of stock, the
same to be paid for by being accepted
as part of the price of said property and
real estate to said corporations:
Second: This corporation shall pay to
said Moore the sum of sixty-five thous-
and dollars. cash, at the signing and eX-
ecution of the contract of sale, and shall
make further payments as follows:
Thirty thousand dollars on or before
Thirty thousand dollars on or before
March Is, 1917;
Thirty thousand dollars on or before
March Is, 1918;
Thirty thousand dollars on or before
March Is, 1919; and
Fifteen thousand dollars on or before
March Is. 1920:
Said deferred payments to be repre-
scented by promissory notes to be given
by this corporation. drawn to it's own
order and by itself endorsed, bearing
interest at the rate of six per cent per
annum, payable annually, from date I'M
til paid, and secured by vendors lien
and special mortgage upon said proper
ty and real estate with all the usual
security clauses, the same to be exc
cuted at the time of the making and de-
livery of the title by said Moore to this
and
Third: For the balance of the pur-
chase price, S100,000.00, the said Moore
shall proceed to form, or cause to be
a drainage or sub-drainage dis
trict, covering a tract of land contain
Llred acres, (part of the land above de-
on which reclamation work is
completed, and shall
cause to be issued thereon bonds to
cover such reclamation work already
done and to be done, said bonds to be
issued under and in accordance with !
Article PSI, of the Constitution of the |
hundred thousand dollars, which bonds |
shall be accepted and taken over by said
Moore at par, in full payment of said |
balance of said price; provided, how |
ever that this corporation, or its as |
signs, shall have the right to take over |
said bonds at par, and to pay said |
Moore in lieu thereof the sum of one |
hundred thousand dollars in cash at the |
line of the issuance and delivering OF |
said bonds-it being understood that |
his corporation is to pay the expenses |
If forming said drainage or sub-drain-
lge district, not exceeding, however, the |
sum of three thousand dollars.
Other subscriptions to said capital /
stock shall be paid in cash, at such time |
md in such amounts as may be deter
mined by the Board of Directors.
All of the net earnings of said corpo- |
alton, and all of the net proceeds of ]