The herald. [volume] (New Orleans, La.) 1905-1953, 1915-10-28
CSisncdl EMILE LEONARD. by. R.
CHARTER
OF TIE ALGIERS LAND COMPANY.
INCORPORATED


Martin ;. Mahoney, a notary public, duly
COMMIT Nsloncd and qualified IN and for tins
city and the parish OF Orleans. therein re
siding. and III the presence of the witnesses
hereinafter named and undersigned. personally
came and appeared: the several persons,
whose names are hcreuuto subscribed, who
sCyerally declared that, awaiting themselves
! Of the provisions Of the laws of the state Of
LOUISIANA, and more especially Of Act No. :
/ Of lyll, they have Covcuauted and agreed and
/ do, by these presents. covenant and agree
and bind themselves, well as such other
| persons as may hereafter become associated
| with them, to form a corporation and body
! polite IN law for the objects and purposes
and under the agreements and StipulatiouN
| following, tO-wIt:
! Article The name Of this corporation
| shall he the "Algcro Land Company. Iucor.
/ pUratcd." and under that name II shall have
/ and enjoy all the rights privileges and al.
| yautagcs, granted by law TO corporations,
! u shall exist Tor period Of ninety years
| from date hereof, unless sooner dissolved by
mutual consent; It shall have power and au-
I thorIty TO sue and be sued in its said cor
| pOratc name: To make and use a corporate
/ seal, and the same 20 break or alter, at pleas.
/ ure; to hold, receive, purchase, hypothcCate
convey, sell, lease, or pledge, real and per-
! sOnal property; to issue negotiable bonds and
| notes or other evidences Of Indebtedness; To
name and appoint such managers, agents, dt.
rectorS and officers and other employees as
| the interests u SAID corporation may demand
| laws, rules and regulations Tor the proper
management and control Of the business and
affairs of the corporation as may be deemed
necessary or eNpcdcut.
Article 1.-THE domicile OF said corpora
ton shall be I'M the city OF New Orleans,
State Of Louisiana, but it may establish
offices and agencies in other parishes Of the
state OF Louisiana and throughout the United
States Of America; all legal process shall be
served upon the president, and, in his alb
he. l.1t- aud 1i,.
ScnCc or disability OF both, then upon the sec
rotary Of the corporation.
Article 5.-'Ghe objects and purposes for
which this corporation is organized and the
nature OF the business to be conducted and
carried on by ii hereby declared TO be
the dealing in, acquiring, purchasing, hold
ing, selling, mortgaging, bonding, leasing,
improving, developing real estate in any OF
ltS forms whether improved or unimprOved,
within the state Of Louisiana or other states
to develop, reclaim, drain or cultivate any
lands held or acquired by it; TO contract for
dredging and construction OF canals and
levees and any other works necessary or
convenient for the improvement of any and
all property belonging TO the corporation
Article 4.-The capital stock Of this corpora
tion shall be, and Is, hereby fixed at the sum
of twenty thousand dollars C20O0O0O, di-
vided into twenty thousand (2OWO shares Of
the par value of one dollar (Sl0)) each per
share Said stock shall be paid for in cash
! at such time and after such notice to the sub
scribers as the board of directors may direct
OF the same may be issued at not less than
par value for labor done or services rendered
for the said corporation; or for property or
property rights transferred and actually re.
ceIved by said corporation, and in accordance
with law.
The amount to which the capital stock may
be increased shall, at no time exceed one hun
bred and fifty thousand dollars (Sl5OOOOOO).
This corporation shall become a going con-
Germ and engage in business just soon as
| s1,. Il
subscribed shall have been actually paid, and
in accordance with Act 267 of 1914.
Article N.-All OF the corporate powers of
said corporation shall be vested in and exer-
cised by, a board of directors to be COM
posed of not less than nine 90 stockholders,
any FIVE of which shall constitute a quorum
for the transaction of any business of the
corporation; the board of directors may be
increased to twenty-five 20; said directors
| 10 be elected annually on the second Monday
OF January Of each year beginning with the
| year 1917.
Each stakeholder shall be entitled to one
vote for each share of stock owned by him
| and standing in his name on the books of
| the corporation, to be cast by him in person
| or by written proxy. All elections shall be
held under such rules and regulations as may
| be determined by the board of directors, but
only after legal notice of such election shall
| have been given to each stakeholder by mail
| sent to his last known or given address, OF
| by publication in the English language in
one of the newspapers published in the city
| of New Orleans. The directors thus elected
| shall continue in office until their successors
| shall have been duly elected and qualified
| No failure TO elect at the time appointed shall
| have the effect of causing a forfeiture of this
| charter. Any vacancy occurring on said board
| of directors shall be filled by the remaining
| directors for the unexpired term. Said board
! OF directors shall, at its first meeting after
/ its election, elect from its members a presi
dent, a vice-President, secretary and a
| treasurer. Said board of directors shall have
| the right to appoint and dismiss such clerks
| and employees of the corporation at any time
| that conditions may justify or the business
| of the corporation require. The tenure OF
office of all clerks and other employees of the
| corporation shall be at the pleasure of the
| may, from among its number, appoint an ex-
ecutive committee, which said committee shall
consist of three 81 members, including one
| OF the officers of the corporation, and the said
| board may delegate such managerial powers
as it may deem necessary or advisable to
| the said executive committee, which shall
make reports at each meeting of the board
; Of directors. The said board of directors may
name and appoint such other committees as
| It may deem necessary for the purpose OF the
I best interests of the corporation
Article Vino stakeholder shall ever be
| held liable responsible for the contracts
| faults or debts of this corporation, nor shall
| any mere informality in its OrganIZati) IN have
the effect of rendering this charter null, or OF
exposing its stockholders to any liability be-
| yond the unpaid balance due on the shares OF
| stock owrec by them.
Article VII-This act of Incorporation may
| be changed, altered or amended, said cor
| poraton dissolved with the assent and votes
| of the stockholders owning two-thirds of the
| issued stock of the corporation, at meeting
| of the stockholders convened for that purpose
| after notice shall have been given to each OF
| said stockholders as provided in Article ) OF
/ this act of Incorporation, except that when
ever in the judgment of the board of drec
tors it snail be Ceemed advisable, and iOr
| the best interests of the corporation and is
| stockholders that il should be dissolved, the
board, within ter G0) days after the adop
ton Of csolutlon to that effect, by a nj.
] ority IF the whole board at meeting called
| for that Iurpo9e, Of which meeting each GIrec
| tor shall have received at least three 81
days' previous notice, shall cause notice of 'ht
| adoption of such resolution to be mailed &c
each stakeholder together with the notice
Of a meeting of the stockholders to be held
| at the Office of the corporation, to take hna
| action upon the resolution so adopted by the
| board of directors. In case Of dissolution Of
! this corporation, by limitation or otherwise
| the stockholders shall elect three 90 iqu
datrs from among their number who shall
have full power and authority to liquidate and
| settle the business and affairs Of the corpor
alton In case of death or inability of any
of said iiquidators to act, the survivors shall
appoint a successor to him.
| Article VIII.-Untl the election to be helc
as provided in Article of this act Of incor
poration, the following named persons shall
constitute the board Of directors Of this cor
poration, to-wit: Dr. c. V. Kraft whose ad
dress is 500 Verret street, New Orleans, La.
Peter Rupp, whose address is Sal Bermud
street, New Orleans, La; R. A. Tansey