The herald. [volume] (New Orleans, La.) 1905-1953, 1915-02-04
CHARTER
OF "GERSoN REALTY COMPANY, INC =,

State OF louisiana Parish Of Orleans. City
BE II known, That on TIN, 10Th day of the
| month OF January, IN the year one thousand
nine hundred and fifteen, before me- Thro-
| dOre \. SChubeT, a notary public. duly com.
| ini~Nioucd and qualified, IN and Tor the Par
| iSh OF Orleans, State OF Louisiana. aforesaid
therein residing. and IN the presence oi the
witnesses hereinafter named and under
signed personally came and appeared the
several parties whose names are hrrrunto|
subscribed. aud Sevcrally declared that avail
ing themselves OF the Laws OF the State of
Louisiana, III such cases made and provided
they have coyenanted and agreed and do hy
these presents covenant and agree and bind
themselves a. we'll such other persons rs
may hereafter become associated with them
:" form corporation and body polite in
iaW, Tor the objects and purposes and under
the articles and stiPulatious following, to-
ARTICLE The name Of this r,rpor,ti,r
shall be "Gcrsor Realty Co.. Inc" and
under It's sand corporate name 1t shall have
power and authority and 10 enjoy corporate
existence and succession for the full term
tnd period Of ninety nine 90, wears from
and after the date hereof. 10 contract. to|
| sue and Zee sued. To make and use q cor
| P'rdtg seal. and the same To- alter and break
! al pleasure, To hold. 10 receive. purchase
| hyroIhccate. convey. SELL lease or pledge real
ana personal property, To issue ucuotia bio,
bonds and notes or other evidence OF debt
| 10 name and appoint such managers. agents,
1 cNi anu convenience may require: To make.
and establish Is well as alter and amend
| from time 10 time such bylaws. rules aud
| equations for the proper government of the
affairs Of this corporation a, may bc rccc,-
ARTICLE 1.-THE domcie Of this cor
| l"i"'i"n shall he IN the City OF New Or
| leans, State OF Louisiana, and all citation
| and other legal process shall he served rpo1
the president Of tins CORPORATION. or in the
| tNth' "i ms absence upon the secretary
| treasurer thereof, and in the absence of both
| 81 sara otceT' upon either vicc-presidcnt Of
| ARTICLE III-Thc objects and purpo.cs
| tIr Mhich TINS corporation Is organized and
| the nature OF the business to be, carried ON
by 1t are declared TO be.
| Inc dSa'ing IN, acquiring, purchasing, hold
h'S' Seliing, mortgaglng, bonding, leasing
manufacturing, alternating. improving dryrI.
| 'Ping, or m auywIse euCumbcring real estate
~ any OF the forms that may be deemed most
advantageous tor the purpose of r,rry,,,
put rs business and to hold, SELL mortgage,
ItaNe or purchase improved or uuimpToyri
properties OF any kind, within the State az
| Louisiana. and TO develop. reclaim. drain ar
cultivate any lands held or acquired bv il.
70 contract Tor dredging, the construction az
canals and IcvceS and any Other rorstr-,.-
| 'lGi' or engineering work connected with or
'"l''ltfdI 10 land reclamation. and IN such
Cou"'C'l"n To operate railroads, tramways
| ana navigation canals. to build road, All
highways, 10 construct wharvcS warehouses
landings, piers, station houses, and other i'm.
PT%'SmtHis necessary, and TO use and operate
aI huatiug crafts as the needs Of the In;
ness may dictate. In furtheriuy tho obi,
ana purposes OF this corporation il shall have
me Tlght to extend the operation of lis Affairs
~ any point within the state which may be
dCtiued advisable or within the state as rs
necessities may require AT which No.,
branches may be establish she'd IT shall b,,e
INC authority To contract for the construction
81 an necessary constructions and cdiices Ia
develop town sites in conuectiou yritb ~
work OF reclamation and developing and IN
ray oul streets. roadwayS and alleys for the
er,i ~ I Oh me inhabitants and in gen
'CidentaI to any OF tho lines Of business
heretofore set forth. This corporation i
iuIther authorized to deal in the purchase and
sale OF stocks and bonds and otber sen;
ties and commercial paper, and act a. 6nan.
or individual. "i'
., ARTiCLE IV,.-The capital stock of this
corporation Is hereby fixed at the sum of
tItty Thousand (S50OOOOW Dollars d;,;doJ
into and represented by Five Thousand *
80 o Sn"res OF stock at the par value of Ten
ieIouV! dollars per share. Said stock shall
ne PAID tor IN cash at such time and aftsr
Such notice to the subscribers as the bnaTd
oil directors may fix, or the same NAV he
- "' nor less than par value for labor
zone or services rendered for the said cor
Po'9tIon or property rights actually received
by said corporation H
The amount to which the capital stock NAV
be increased shall at no time exreed o.
Hundred and Fifty Thousand (SI50nOn on
Dollars. 'i'o'''V'oU
This corporation shall become a going cor.
II ,5,Ii. ana snail be authorized TO commence
thousand (S2S,UOOOD Dollars of It's cani,aI
STOCK shall have been subscribed and paid
ARTICLE V-All of the corpor,,e no,.o-s
OF SAID corporation shall be vested in and
exercised by board of directors, 10 be com.
posed OF not more nor less than five (S)
stoCknoIders, a majority of whom sitting at
tfYfa
tots TO be elected annually on the second
mohday IN January, beginning with the vear
lylo. Each stakeholder shall be entitled in I
person. or by written proxy to one vote on
each share of stock owned by him and stand
ing IN ms name on the books of the CORPORA.
uon All elections shall be held under such
iuieI ana regulations as may be determined
by the board of directors but after legal no
uce OF such election shall have been given
10 each stockholder by mail sent TO his Jast
SHOWN address, or by publication in the
LIS. language III the City of New Or
IeanS, Tor at least IS days preceding such
election. The directors thus elected shall
continue IN office until their successors SbsII
nave nave been duly elected and qualified No
TEXTURE OF this charter. ANY vacancy occur
ing on said board of directors shall be filled
ny the remaining directors for the unexpired
term SAID board of directors shall al its
hrst meeting after its election, elect from its
members president, two vice-presidents. a
SecIetary-treasurer. Said board of directors
sIdii nave the right and power to dismiss |
ana appoint such clerks and EMPLOYEES of
inc corporation, as conditions may Justify
or the business of the corporation NAV re-
quire The tenure of the office of alI en- |
ployees of the corporation shall be dur;rg
the pleasure of the board of directors. The
Doard OF directors may from among its num-
Der appoint an executive committee which
sald committee, shall consist of three C0
members, including of the officers OF the
corporation, and the board of directors NAV
delegate such managerial powers as il deems
necessary to the executive committee shall
report at each meeting of the board of direc-
tors. The said board of directors NAV name
and appoint such other committees as it NAV
deem necessary for the purposes of the bust
ness of this corporation
ARTICLE Vino stakeholder shall ever
be held liable or responsible for the CON
tracts, faults or debts of this corporation.
nor shall any mere informality in its organi.
zation have the effect of rendering this char.
ter null, or of exposing its stockholders to
any liability beyond the unpaid balance due
on the shares of stock owned by them.