The herald. [volume] (New Orleans, La.) 1905-1953, 1916-10-19

president, and in the absence of both, on
| the rctdry-t-eaSurer.
Article IlI.-The objects and purposes for
winch this corporation is organized and the
| nature OF the business to be carried on by
II are hereby declared TO be: To deal in
buy and sell and own for its own account OF
tor account of others, real estate, lands,
tcnemenbS and options thereon: mortgage
totes, bonds, shares of stock and other secu.
hities; 10 lease, rent, hire and manage prop.
tTty, and make leases as lessor or lessee
D" construct or erect, or 10 contract for the
construction and erection of buildings, and
generally 10 do and engage in any other
business, undertaking or enterprise connect
ed with. growing out of, germane or Incl
dental TO any OF the purposes hereinabove
set forth or contemplated by this charter
Article IN-The capital stock of this cor
poration is fixed at the sum of eight thou.
sand dollars $4,000, divided into eighty
! tS0l shares Of one hundred dollars (SlOO COZ
| each. All shares of stock shall be full paid
| and non-assessable. No transfer of stock
shall be binding upon this corporation, unless
made upon its books and ali certificates of
stock shall be signed by such officers as NAV
be designated by the board of directors
. Inns corporation shall have the right to
increase its capital stock up to the further
sum of twenty fve thousand dollars (s25,.
cDOO), to be divided into shares of one hun.
bred dollars $1,000 each, provided said in
crease IN the capital stock shall have been
| authorized by the stockholders at meeting
10 be held pursuant TO the provisions OF
| Article of this charter.
Article N.-All the corporate powers of the
| company shall be vested in and the man
asement and control Of its affairs shall be
exercised by a board of directors composed
OF three stockholders. A majority OF the
| directors shall constitute a quorum for the
transaction of all business. The directors
shall be elected annually BY ballot by the
uary IN each year. Each stakeholder shall
be entitled in person by proxy to vote
Tor every share owned by him. and all elec.
Eha1 ha h.11 i
regulations as may be determined by the
Board OF Directors, after hfteen DAYS notice
by mail of such election shall have been
sent TO each stakeholder al his last known
address. The directors thus elected shall
continue in Office for one year, or until their
successors shall have been duly elected and
quaiIhed. No failure to elect shall be re-
garded as forfeiture of this charter ANY
vacancy occurring on said board Shall be
hlled by the remaining directors "A the
unexpired term; the said board shall likewise
elect the additional members in case they
should determine to increase the number Of
SAID board. Said board of directors shall at
its first meeting after its election, nominate
out OF ITS number president, vice-presi.
shall serve until the election to be held in
January, 1918. Said board shall have ,the
right to appoint and dismiss such clerks.
managers and other employees of the cor.
poTation as conditions may justify and the
business OF the corporation may require. The
tenure of office OF all the EMPLOYEES of the
corporation, shall be during the pleasure of
company shall be vested in, and the man.
the board of directors. Any of the directors
or officers shall have the right to appoint, by
written instrument, another director or stock
holder to act as his proxy and in his stead
at any and all meetings of the board of d.
rectors.
Article VINO stakeholder shall ever be
held liable or responsible for the contracts,
faults or debts of said corporation, nor shall
any mere informality in its organization have
the effect of rendering this charter null or
of exposing a stakeholder to any liability
beyond the unpaid balance due on the shares
owned by him.
Article VIL-Ths act of Incorporation may
De changed, modified or altered. or this cor |
poratiOn may be dissolved, with the assent
OF the stockholders owning two-thirds of all |
the stock OF the corporation at a general |
meeting convened for that purpose, and after |
at least ten days written notice Of this |
meeting has been given through mail ad- |
dressed 10 each shareholder at his last known |
place OF residence In case of dissolution by |
the expiration of this charter or otherwise, |
the stockholders shall elect there liquidators
from among their number, to liduidatc and |
settle the bushes sand affairs of the COM
pany. In case OF death or disability of any
one OF said commissioners or liquidators, the !
survivors or remaining liqudators shall ap-
point successor to him. The said liuui-
dators shall have full power to settle said
money and property among the stockholders.
Ihey shall have power to meet and act
under the bylaws OF the corporation and
under regulations to be made by majority
OF said liquidators; to FIX the price and pre-
scribe the terms of sale of said property and
the manner in which the sale shall be made,
and take notes and bonds, secured by mort
cages or otherwise, for part of the purchase
price for all or any part of said property.
provided however that the rights herein con-
ferred upon the liqudators may be modi.
he'd, changed or denied by majority of the
shares of the capital stock of the corpora.
ton. The said liquidators shall have author.
ity to sue for and recover the debts and
property in the name of the corporation and
shall be liable in soido to any creditor or
stockholders for the moneys and property of
the corporation, which shall come to their
hands or possession as liquidators and for
the proper application and distribution there |
Article VIII.-Forty-fve hundred dollars
Cs4SO0ol has been subscribed to the capital
A. .Schneidau, Sr., whose address is 2O4 Car.
ondelet St, New Orleans, La, TWENTY-FIVE
shares; Oscar A Schneidau, Junior, whose
address is II Richmond Pl., New Orleans, one
share; James F, Turnbull, whose address is
1913 CarOndelet ST., New Orleans, La. twenty
wo shares. |
Article IX.-Until the election to be held
IN the FIRST Monday in January. 1918. the
directors, viz: Oscar A. Schneidau, as presi-
lent; the said James F. Turnbull, as vice
PRESIDENT, and the said Oscar Schneidau, Jr.,
|
Thus done and passed in my Office on the
lay, month and year herein first above writ
en-, in the presence of Gilbert Diez and
Arthur Z. GauthieH competent witnesses,
Who have signed with the appearers and me,
notary, after reading of the whole II
Original Signed: o. A. Schneidau, q !
hares; Oscar Sehneidau, r.. share. Jas.
!. Turnbull, q shares. Gilbert Biez, A. E.
jauther. ,
CHARLES SCHNEIDAU,
(SEAL) Not. Pub. ,
!, the undersigned recorder of mortgages,
or the parish of Orleans, do hereby certify
hat the above and foregoing act of incorpo- !
alton of the Greater Metairie Land & De- {
'elopment Co., Inc.," was this day duly re- ,
erded in my Office in book 1901, folio IN.
New Orleans, La, Aug 26, 1916.
(Signe0 EMILE LEONARD by. K.
CHARfEs scHNEIDAU. Not. Pub.
ept IA q Is oct II 10