The herald. [volume] (New Orleans, La.) 1905-1953, 1915-04-15
ACT OF INCORPORATION
OF wASHLEY FARM DEVELOPMENT
COMPANY INCORPORATED
State. Of Louisiana, Parish OF Orleans, City
of New Orleans

OF wAsHLEY FARM & DEVELOPMENT
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
\ the Independence OF the United States of
| America the one hundred and thirty-ninth,
| before me-. Charles F. Fletchinger, a notary
| public, duly COMM ssoned 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 NAV
become associated with them, to form them.
| selves into a corporation for the objects and
purposes, and under the conditions and stipu-
lations of the articles following, to-wit:
Article The name and title of the said
| yelOpment Co., Inc, and under its said cor
porate name it 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, sue and
be sued; to accept and receive mortgages,
pledges or other hypothecatlOns; to make and
use corporate seal ana the same to break
| and alter at pleasure; to purchase, receive,
lease, hold or otherwise acquire and convey
| as well as mortgage and hypOthecate under
| its corporate name, property both real and
personal and mixed; to name and appoint such
managers and directors officers and agents,
and blish branch offices at its domicile
! or elsewhere, the interest and conven-
fence of said corporation may require, and
to make and establish, well 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 cor:
poration shall be, at New Orleans, State OF
Louisiana, and all citations and other legal
processes shall be served upon the president
or in his absence, inability to act, upon
any other officer OF the corporation.
Article III.-The objects and purposes for
which this corporation is organized and the
nature of the business TO be carried on by
it are hereby declared to be: to own, to ac-
qure, BY purchase, lease, donation, exchange
or otherwise, and to sell or ALLEVIATE real and
personal property of every description and
kind, to 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
I State of louisiana; to exchange ITS capita aId
i
leases which it is hereby authorized to &C
quire. ..,. .,
: this corporation is hereby fixed at the sum
of twenty thousand (S200O0.OO dollars, d.
/ vided into two thousand (2,oOO) shares OF the
par value of ten $1,000 dollars each, all OF
8 which shall be common stock and the same
. may be issued for cash money or IN payment
of property services actually received by
or rendered to said corporation. This corpor'
. alton shall commence business and become
. i UoiuU ten thousand NSlU
, 10000 dollars of its capital stock shall have
been subscribed and one-half thereof paic
, for: said stock shall be worcestershire.
The parties hereto declare that they eacf
|, subscribed for the number of shares of SAID
i capital stock set opposite their Respective
). 1ten thousand eight hundred dollars), thu
L same to be paid for in cash or in property
leases or other chooses in action or notes o
= | the value satisfactory to the holders: Int
e board of directors hereinafter created is es
$ pecially authorized to dispose of the stool
for any and all the purposes above stated a.
q in its judgment may seem tar and proper
u increased to the sum on one hundred thou
g sand (S1OO,OO0OO dollars, in accordance witt
the provisions of the law pertaining thereto;
!. No present or future stakeholder snail o.
d allowed to sell transfer his stock IN TIM
It company, except by inheritance without mrs
e offering the same to the company through ~
e president or vice president. If the compan!
= fails to purchase the stock so offered at 1t
book value as shown on the preceding Decem
y Der 3lst. within five days. from such offer
" then the stakeholder desiring TO dispose o
e his stock may sell and transfer the same
z All stocks so purchased by the company shal
% be reissued by it and offered to each stock
II holder in proportion to their holdings, at IN
II price the said shares we're so purchased. /
n any stockhofder fails to purchase the stoc
so offered to him, then the company may sci
= the same at the highest price obtalnable
r Article V.-All the powers of this corpora
= ton shall be vested in and exercised by
,e board of directors of not more than hve an
n not less than three directors, each OF whor
;: shall hold in his own name on the books Q
!. the company at least one share OF stock. IN
" number of directors within said limits an
" the number required to constitute quorum n
. y by the bylaws. Said board of directors sha
II be elected annually, by ballot at STOCK
m holders meeting called Tor that purpose at On
- Office of the corporation on the fourth Tues
~ day of each year after due notice gwen to Tn
~ stockholders by mail at least fifteen day
y before the date of the said meeting Faiinr
&c to elect directors on the date above specihe
ie shall not dissolve the corporation, but IN
directors then in Office shall remain IN ,otf'c
: | Until their successors are elected Inc ooar
a Of directors at their first r'Getir followln
10 each annual election shc!; elect from the
* rurnhcr A president and OF: or more VIC
III residents, and they shall likewise cleo
Oh but not necessarily from their number,
70 secretary and a treasurer and ssuch otnt
X officers as the board of director shall dec
n necessary. The board shall have power IN !,
* discretion to unite two or more ofhces an "a
We have the power to fix the salaries of all OF
IS, GERS and of such further officers and agen
n, as they deem necessary. The board OF q
u: rectors shall have the power to make and E
nd tablish, as we'll as alter and amend; all D.
d. laws, rules and regulations necessary ar
proper for the support and management OF u
he business and affairs of said corporation n
of Inconsistent with its charter. Said 6oai
e. shall also have power and authority to NIL ar
ed vacancies on its board, to borrow money, al
o. through the president or some other du
authorized agent, or agents, to execute MOI
n cages. issue notes, pledges, bonds or oth'
4. Obligations, in such amounts and on 1. SUI
advantageous and generally TO do all thin
yes. reasonably necessary for the proper carryii