The herald., 1916-03-16
CHARTER
OF AUDUBON PARK. REALTY COMPANY.

INC.
n ultet States of America. State OF Louisiana
Parish OF Orleans, City Of New Orleans
BE 10 known. thar on this, the 25th day
OF February, one thousand nine hundred and
sixteen 900. before ME. Watts K. Lever.
'ch, notary public, daily commissioned and
qualified IN and for the parish of Orleans,
State OF louisiana, IN the presence OF the
witnesses hereinafter named and undersigned.
personally came and appeared the parties
whose names are heTcunto subscribed, who
That availiug themselves Of the provisions
Of the laws Of Louisiana. relative to the or
ganlzation Of corporations, they have CON
| traCted and agreed, and do by these pres
cnts contract and agree and bind and obli-
gate themselves, as well all such persons
| as may become associated with them, to form
| themselves into and constitute a corpora
ZION and body polite in law, for the objects
! and purposes and under the conditions and
| StlpulatiunS Of the articles following t0-wit.
Article The name and title OF said cor
! poratIon shall be Audubon Park Realty Com
| p2ny, Inc. and under its said corporate
| name II shall have power and authority and
| ENJOY succession Tor the full term and period
| Of ninety. mine years, from and after date
| hereof, to contract, sue and be sued, 10 &C
| sept and receive mortgages, pledges or other
hypOtheCatOuS. 10 make and use a COrpor-
| ate seal and the same 20 break and alter at
pleasure, To purchase, receive. lease, hold or
otherwise acquire. and convey, a. well as
mortgage and hypDtheCate under its corpor-
ate name property both real and personal
| dNh NAlNtu. 10 name ana appoint SuCh mana
gers and directors, officers and agents as the
interests and convenience OF said CORPORA
non may require, and II make and estab-
IiSh. Is well a. alter and amend at pleasure
such bylaws, rules and regulations for the
proper management and regulation Of the
affairs Of said corporation a> may be neccs-
Sary and proper.
Article iI-Thr donicilc Of said CORPORA.
tIon shall he n New Orleans, Parish Of Or
leans. State 0i Louisiana. and all citations
OF other legal process shall be served upon
The president OF said corporation, or IN case
Of his absence upon the yIcr-preSideut, or
~ the absence OF both Of these officers upon
the secretary ot the corporation.
Article lll.-Thr objects and purpose, for
winch tins corporation Is organized and the
nature OF the business tu be carried on by it
are hereby declared TO be 20 buy sell. or
otherwise acquire and ALLEVIATE real estate
and lands IN the State oI Louisiana. or else
where, to lease and release real estate and
lands, TO mortgage and hypothecate the
same, 10 NuHdlyldc same into building lots
and To- build upon and otherwise improve
same. and To do general real estate and
land business, to exchange It's entire capital
stock any part thereof for property which
n Is authorized hereby 10 acquire, or to cy-
change ITS assets and business IN whole or
m part Tor money cor stocks or bonds or
other obligations OF other companies and to
do any and all such acts and things may or
shall be necessary and proper 10 carry out
said objects and purposes.
Article lN.-Ihe capital stock OF said cor
pOratjon Is hereby fixed at S5O,OODU di-
vided into or represented by I'VE hundred
$500 shares OF "A par value OF one hundred
dollars $4,000 each. Said stock shall CON
sIsi of and be issued - two different classes:
First: The preferred stock. and second, the
common stock.
Section The amount OF preferred stock
IS fixed at the sum OF twenty-five thousand
dollars (S2SODNU. divided INTO and repre-
scented by two hundred and fifty (25Ol shares
OF a par value OF one hundred dollars (SlO0l
each The preferred stock shall be entitled
in preference and priority over the common
stock OF this corporation to dividends IN
each and every year AZ the rate Of seven
per cent per dnnum, payable out of the
profits Such dividends shall be cumulative, |
limited to seven per cent per anuum, and
said hrSt preferred stock shall be entitled to
no other or further share OF the profits. In
event Of any liquidation or dissolution or
winding mp. whether voluntary or Invoun-
tary, OF tins corporation. the holders OF the
preferred stock shall be paid in full by
preference over the common stockholders, the
par value Of their shares. together with I'M
paid dividends at the rate OF seven per cent
per aunum to date of said liquidation, the
remaining assets and funds shall be divided
and paid to the holders of the common
stock. according to their respective shares.
Section 1.-The amount OF the common
stock is fixed at twenty-five thousand dol
lars CS25OC0.OJ). divided into or represented
by two hundred and fifty C25OJ shares OF
par value of one hundred dollars (Sl0O) each
and shall be entitled to such dividends as
may be declared by the board of directors,
subject to the provisions Of section | here