The herald., 1915-04-08
ACT OF INCORPORATION
OF WASHLEY FARM & DEVELOPMENT
COMPANY INCORPORATEn
State, Of Louisiana. Parish of Orleans, City

OF WASHLEY FARM & DEVELOPMENT
COMPANY INCORPORATED
State OF Louisiana, Parish of Orleans, City
of New Orleans.
BE it known that, on this, the third dav
of the month Of April, in the wear OF our Lord
one thousand nine hundred and fifteen, OF
the independence OF the United States of
America the one hundred and thirty-ninth,
before me, Charles +. Fletchiuger, a notary
public, duly COMM sSioned 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 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, as well as all such persons as may
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
velopment Co., Inc, and under its said cor
porate name II shall have the power and
authority and ENJOY succession for the full
term and period OF nnety-ninc years from
and after date hereof, to contract sue and
be sued; to accept and receive mortgages,
pledges or other hypothecations; to make and
use a 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 establish branch Offices at its dOmiCile,
or elsewhere, the interest and conven-
| fence of said corporation NAV 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
lOmlClle
/ 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, or 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 &C
| uure, by purchase, lease, donation, exchange
| or otherwise. and to sell or ALLEVIATE real and
personal property OF every description an; dmo
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 tC
| have such general and individual powers as
| may be necessary in turtherance OF the Cd
! jects and purposes herein set 1orth OF suel
| as natural person might have or exercise
1 and to have and be vested with such powers
as are conferred upon corporations OF the same
! kind and character, under the laws OF tht
l
stock, or any part thereof, for property anC
leases which it is hereby authorized TO ac
quire.
this corporation is hereby fixed at the sun
| of twenty thousand (S20000.O0) dollars, di
vided into two thousand t2,OuO) shares OF th'
par value of ten $1,000 dollars each, all o
| which shall be common stock, and the same
NAV be issued for cash money or IN paymen
of property or services actually received b!
or rendered to said corporation. ms corpor
alton shall commence business and become
going concern soon as ten thousand !slO,
10000 dollars of its capital stock shall nav
been subscribed and one-halt thereot pal'
for: said stock shall be non assessable.
The parties hereto declare that they eacl
subscribed for the number of shares OF SAT-
capital stock set opposite their respectiy
signatures hereto, or an aggregate OF SlV'ooo
(ten thousand eight hundred dollars), tn
same 70 he paid for in cash or in property
leases or other chooses IN action or notes o
the value satisfactory to the holders. IN
board of directors hereinafter created is es
pecially authorized to dispose OF the stoc
for any and all the purposes a. We stated a
in its Judgment may seem fair and propei
The capital stock of this corporation may
| Increased to the sum on one hundred thou
sand (slOO.OOOOO dollars, in accordance wi.
| the provisions of the law pertaining thereto;
No present or future stakeholder snail Q
allowed to sell or transfer his STOCK IN I'M
company except by inheritance without mrs
Offering the same to the company through II
president, or vice president. If the compan
. fails to purchase the stock so offered at II
book value as shown on the preceding Decen
, her 3lst. within FIVE days from such offei
r then the stakeholder desiring to dispose
, his stock may sell and transfer the SANE
All stocks SO purchased by the company sna
!, be reissued by it and offered to each stoct
holder, in proportion to their holdings, at tn
price the said shares were SO purchased.
, any stockholder fails to purchase the stoc
offered to HIM then the COMPANY nPtayyab h
> Article V-All the powers of this corpor;
. ton shall be vested in and exercised by
. board of directors of not more than hve an
& not less than three directors, each OF who
. | shall hold in his own name on the books
; the company at least one share Of stock. III
| number of directors within said limits an
: the number required to constitute a quorum
] | the hoard shall be fixed from time to tin
by the bylaws. Said board of directors sha
: be elected annually, by ballot at stocl
holders meeting called for that purpose at u
! Office of the corporation on the fourth Tue
day of each year after due notice given to II
stockholders by mail at least htteen ia,
before the date of the said meeting. Faiiu
to elect directors on the date above speciht
c shall not dissolve the corporation, but q
directors then in Office shall remain IN orr
Until their successors are electef Inc ooa'
OF directors at their fTst n,Ietlrs toIiow VII
( ruInher a presidene and o1= or more VI
] residents, and they shall likewise cleo
4 but not necessarily from their number,
g secretary and a treasurer and such oth
: oficers as the board of directors shall dee
: necessary The board shall have power in !
K | discretion to unite two or more ofnces ana
| confer the same upon one person and sha
e have the power to fix the salaries OF all OF
J, GERS and of such further officers and agen
!, as they deem necessary. The board OF,
i rectors shall have the power to make and c
d tablish. as we'll as alter and amend, all b
/ laws, rules and regulations necessary al
proper for the support and MANAGEMENT OF :
c business and affairs Of said corporation n
4 Inconsistent with its charter. Said boa
: shall also have power and authority to hll al
d vacancies on its board, to borrow money, a.
= through the president or some other ou
authorized agent, or agents, TO execute mo-
+ cages, issue notes, pledges. bonds or 9th
/. Obligations, in such amounts and on su
/. | terms as in their Judgment may be deem
advantageous and generally to do all thin
!. reasonably necessary for the proper carryi