The herald. [volume] (New Orleans, La.) 1905-1953, 1915-05-06


cIty OF other power; to construct, ow
ana operate telegraph and telephon
4 nnes, as well as railroads for the trans
I. P pOI. atlon OF passengers and freight an
!. operated by steam, electricity, gasoline
I. VI otner power; to construct own an
. operate canning factories, mills TO
. Manufacturing cane into syrup an,
sugar and other mills machines An,
factories, as the Board of Directors ma,
determine; to carry on the business a
} farming, stock raising and merchandiz
} ing IN all their branches; to construct
own and operate saw mills. 70 Great,
and establish drainage districts anI
uidinaSe systems on the lands which il
ShalI acquire, drain such districts ant
TX land charge on the lands of sucl
ulStrlctS for maintaining such drama 20
anu systems; to carry out, establish
construct. maintain, improve, manage
work, control and superintend any
ways roads, tramways, ferries. bridges
| harborS, water courses, Wharyps laveas
embankments, hydraulic works. hotels
anu other 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 lF.-The capital stock of said
| corporation is fixed at the sum of five
! huhdred thousand dollars, divided into
/ ten thousand shares of the par value of
! ttty dollars each, of which three thous-
| ana ShareS shall be preferred shares or
STOCK and seven thousand shares shall
| ne common shares or stock
| The holders of preferred stock shall
| not De entitled To east any vote at any
| meeting Of stockholders on account of
nelnS holders of such preferred stock
II 3elns expressly provided that only
holders of common stock shall vote at
| the meetings of stockholders
me corporation shall purchase from
Allred j. Moore. for the sum and price
hereinafter set forth the following de-
Scribed property in the Parish of 81
CHARLES. a
Inc 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: ali of Sec
tlons Nineteen, Twenty and Twenty-one
ana 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
ana Thirty-twO; all of Section Thirty
three west of Section Forty-four; in
,rrownshlp 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;
an or Section Seventeen west of Sec
tlon Thlrty-SeVen; the North half of
section Eighteen: all of fractional Sec
uon Nineteen west of Section Thirty
seven; i'm Township Fifteen. south
Range Twenty-one. East:
All of Section Twenty-Five; all of Sec
ton Thirty-five east of Grand Bayou
except the Northwest quarter: ali 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 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 hum
dred and forty-eight and eighty-three
one hundredths G3,64S S3-1OOths) 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 I
said corporation and by the subscribers
hereto, at the sum of seven hundred and |
thlrty-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
live 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 its
common stock. all full paid and nom
lssessable; and said Moore hereby sub
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 paw 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
March 10, 1916;
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-
ented by promissory notes to be given
~ this corporation, drawn to it's own
rider and by itself endorsed. bearing
interest at the rate of six, per cent per
nnum, payable annually. from date I'M
nd special mortgage upon said proper
y and real estate with all the usual !
ecurity clauses, the same to be exc
uted at the time of the making and de-
livery of the title by said Moore to this |
and I
Third: For the balance of the pur-
base price. 500, 100000, the said Moore ]
hall proceed to form, or cause to be {
ormed, a drainage or sub-drainage dis S
riot, covering a tract of land contain
lg approximately twenty-eight hum c
cribed.) on which reclamation work is {
completed, and shall {
ause to be issued thereon bonds to
over such reclamation work already +
one and to be done, said bonds to be f
'sued under and in accordance with ! '
rticle PSI, of the Constitution of the S
tate of Louisiana, in the sum of one n
undred thousand dollars. which bonds d
hall be accepted and taken over by said o
Ioore at par, in full payment of said / p
alance of said price: provided, how n
gins, shall have the right to take over C
aid bonds at par. and to pay said o
Loore in lieu thereof the sum of one r
undred thousand dollars in cash at the 4
me of the issuance and delivering of e
lid bonds-it being understood that o
lis corporation is to pay the expenses S
forming said drainage or sub-drain C
&c district, not exceeding, however. the c.
I'm of three thousand dollars. b
Other subscriptions to said capital a
ock shall be paid in cash, at such time o
I'd in such amounts as may be deter e.
ined by the Board of Directors. 81
All of the net earnings of said corpo-
Ition. and all of the net proceeds of a