The herald., 1915-03-18
CHARTER
OF DEER ISLAND IMPROVEMENT CON

United States of America: State of louisiana,
Parish of Orleans, City of New Orleans.
Be in known, that this 10Th day OF the
month of February, 1915, and of the indepen-
dence of the United States the both, before
me, Herman Michel, notary public, duly
commissioned and qualihed IN and Tor me
Parish of Orleans, State of louisiana, and
in the presence of the witnesses hereinafter
named and undersigned, personally came and
appeared, the several persons whose names
are hereunto subscribed, who severally de-
clared that availing themselves OF the PRIV.
leges of the statutes and laws OF the State OF
Louisiana, relative to the formation OF cor
porations, and particularly act No. IoL OF tne
session Of the General Assembly OF l9l4, they
have coyenanted and agreed, and do by these
presents covenant and agree, and bind ana
obigate themselves, as well as all sucn per
sons as may hereafter become associated win
them, TO form and constitute BODY corpor,,
ate and polite in law, for the objects and
purposes and under the stipulations and pro-
visions following, to-wit:
Article 1.-The name and TUE OF ms cor
marathon shall be the Deer Island Improve
ment Company, Inc, and under that name
shall have and enjoy all the rights, privileges
and advantages granted by law to corpora
tions, and shall have the power and autnorlty
| to enjoy succession and corporate existence
| for and during the period of ninety nine w
| wears from the date hereof, unless sooner
! dissolved in the manner hereinafter provided
for. - - j.,
| authority to contract to sue and be sued, TO
| make and use a corporate seal, ana the same
to break, alter or amend at pleasure, 10 holu'
| receive purchase, convey, deliver, mortgage,
hypothecate and pledge any property, real OF
| personal, and to issue notes and other obii-
1 cations, negotiable instruments or other eVi-
dences of debt; to have and employ suGn
] managers, agents and other employees as the
interest and convenience of said corporation
NAV REQUIRE or demand, and to make and
establish such bylaws, rules and regulations
for the corporate management ana cohtrol oi
he
expedient. . T.,
Article 1.-THE objects and purposes toi
which this corporation is created, are hereoy
declared to be, to purchase, hold ana qlsPo ,s,
OF all or any portion of that property known
| as Deer Island, in Harrison county, STATE
of Mississippi, and for this purpose 10 Duy
sell mortgage, exchange or otherwise acquire
| ALLEVIATE or deal in real estate generaliy
whether improved or unimproved, in thu
! States of Louisiana and Mississippi, or else
where. either for itself or for the account o
others, and either principal or as agent, OF
commission or otherwise; and also to improv
nronerty real or personal; TO grant and tax
, marriages and assignments OF mortgage
upon the same, and generally to do any an
all things and acts whatsoever necessary Q
/ incidental to, or connected with, tne trans
. action of the business of said corporation.
, ! Article III-The capital stock OF TINS cor
poration is hereby fixed at the sum OF TWEEN
r ty-fve thousand (S25,0ooOO) dollars, diVide
) into and represented by two hundred an
, ffty (25O) shares of the par value OF on
hundred $4,000 dollars each, and when is
sued. shall be paid for in cash or IN property
8 or in the equivalent thereof. All shares G
0 stock shall be issued as. full paid and II nor !,
= assessable. and no transfer of stock shall b
!. binding on the said corporation, unless re
: corded on its books. This corporation sna
!. he a going concern as soon as ten thousafl
y (slOOO0OO dollars of its capital stock ma
a been subscribed for, as hereina6ove proyide'
: OF the stock so authorized to be issued, on
& hundred and fifty QSO shares, amounting !
!, ! fifteen thousand (s150O0.0O dollars, snail
> nreferred stock, and one hundred QOO) snare
!. amounting to ten thousand CSl0,UO!Oo dollar
v shall be common stock. Each share OF n
e Common and preferred stock shall be entitie
h TO one vote in person or by proxy, at a
n meetings of the stockholders. The preferre
: stock Shall be issued only upon the term
+ conditions and limitations and provision
j. to-wit: ..o.l, sb,
h be entitled to receive out of the net prom
e of the business, fixed and determined q
n v;dend at the rate OF seven per cent. p
o annum, on the first day OF Marc, MS 9, e eaf
e wear. beginning with the LIST OF March, pi
d before any dividend can be set apart tor,
paid on account of, the common STOCK LOT u