The herald. [volume] (New Orleans, La.) 1905-1953, 1916-03-30
CHAR TT p
r CHARTER
TON, iNCoRpORATSFTn 2>>''IA-
state q Louisiana, Parish of Orleans. CITY

STATE. Of Louisiana, Parish of Orleans. Civ
OF New Orleans.
Re It known and remembered. tina. on .his
| lslh DAY 81 the month % March ~ The. wear
nineteen hundred and sixteen and f ~
independence Of the United Sr.fr, - -
ica' re one hundred and i1-t,-lr-,. before
''r, M'StI ;. DTciia,, a notary public daily
th'e oi The Witnesses hereinafter named and
Undersigned. Personally came. and ar.,n..,rsJ
~, pc sons whose names are hereto subscribed
VINO declared thai, awaiting themselves 81 the
provisions Il the law> nj th., tate reIa+iy.
!" the organization Of corporations, and r,.,re
particularly . Ac' 20 IF the General Assem-.
, ny 81 INC safe ~ Louisiana. iHr thr year
nineteen hundred fourteen. they have cove
"ah'rd and agreed. and do hy these presents
covenant and agree {, bind. form and ,.u.f;-
'".' themselves, As well such other PEI
49, %iih thr'n' INTO an association and
''hF p'ilIc m law, for the object, and ptIr-
poses snd under the agreements ard ,,lDui,.
IONS hereinafter set forth, io-vit.
t'raupu shall lac the Louisiana live. S,,rL
Association, Incorporated" and under th7t
name 1t shall have and enjoy all the night,
privileges and advantage, c5aferrrd Ly the
Hlttc OF Louisiana on corporations i'm gen.
tIdl' ana shall eN's; Tor 4 period of ninety
n'nc years, unless otherwise dissolved he.
ginning from date OF this act OF irr,rnor,.
non. shall have power and authority :,
lease, mortgage and hypothecatc and pledge
property real, personal and mixed: 10 name.
''eSt anu appoint managers. directors and
clerks and other employee, 10 p~pDe-Iy ror-
iu't ITS corporate business, and t. make nv
LAWS. rule, and regulations as NAV be found
necessary or desirable for the management
% the corporation. aud shall do everything 10
correctly carry ont it, objects and purposes
Article 1.-THE domicilc Of this corpora.
ION i hereby declared To- he the CITY of
Ne" Orleans, State OF Louisiana. All eta
u"nN and other legal process shall be served
upon the president, and in the absence Of
me president on the vICe-preSideut, and in
the absence Of both Of them. upon the sec.
retary-treasurer 'of the corporation
Article IIT.-The objects and purposes for
iHI'Sh 'NIN corporation i organized, and the
business to be conducted by H. are declared
20 De- me importation, exhibition, purchase
and sale OF thoroughbred and common cattle
hogs and horses. To own and improve real
estate and 10 lease or operate the same. for
All purposes incidental and gcrrnane to the
exhibition OF stock hogs and horses both
thoroughbred and common. which shall in
clude the holding OF speed contests athletic
games and sports and aviation EXHIBITS and
the charging Of an entrance fee for same; and
Tor such other purposes and objects as NAV
be necessary, or incidental TO the objects
and purposes hereinabove stated.
Article IN.-Ihe capital stock OF this cor
poratlon Is to be one hundred thousand dol. |
lars tSloOGnrO, diveded into one thousand
shares at the par value of one hundred dol !
lars $4,000 each; and this corporation shall |
begin business when five hundred shares NJ |
ITS capital stock shall have been subscribed |
and paid Tor. Said stock shall be represented
by certificates of stock, and to be issued al |
such times and for such amounts at the |
price and upon such terms and conditions as |
the board of directors shall see fit and prop |
er, and shall be paid for in cash or its equi- |
valent IN property, the board OF directors |
shall decide. All shares shall be full paid |
and non assessable. No stakeholder shall |
have the right TO sell, or otherwise dispose |
OF, his stock In this corporation, without first
offering same to this corporation. and TO the |
the book value thereof and this corporation |
Is authorized to purchase said stock at said |
book value for the benefit of the other
stockholders OF the corporation. Should the
decline to purchase said stock the /
shall have the right of option |
to offer said stock for sale to any other per
son or persons, firms or corporations.
Article N.-All the corporate powers of !
and control of its business and |
affairs conducted by a board of directors
composed Of three stockholders, two of whom
shall constitute quorum; no member of
1ue share of stock. Said directors shall be
elected by ballot at a general meeting of the
to be held on the 10th day of
May 1910, and annually thereafter on that
n person oroby proxy, to one vote for every
share Of stock owned by him. All elections
shall be held under such rules and regula-
ions may be determined by said board of
directors. Ten days written notice, direct
ID to the last known address of every stock
holder shall be given OF all elections.
The directors thus elected shall continue in
,fice until the 10th day of May, 1917, or until
heir successors shall have been elected and
qualified; any failure TO elect officers or di-
ectorS shall not be considered as a forfeit
ure of this charter Any vacancy occurring
n the board OF directors shall be filled by
aff,T,,r fNr Cd \
erm. y majority of the stockholders at a
Meeting shall constitute a quorum for the
of any business.
Said board of directors shall, at its first
Meeting after its election, elect out of its
wn members a president, vice president and !
ecretary treasurer; and said board shall have
he power in its discretion to unite two or
more officers, the same TO confer upon one
erson. Said board shall have the power to
ppoint and dismiss such officers, agents,
Jerks and employees as they may deem adj
sable, and TO fix their compensation.
Said board of directors Is especially vested
With the power and authority to mortgage or
ledge the property, real, personal and mixed, |
f the corporation as they may deem mt and
ledge, lease and dispose of real estate, i'm
roved and unimproved, city and county; to
xecute mortgages, issue notes, bonds and
Their evidences Of debt, and TO borrow and
end money on same to and from individuals,
rms and corporations, at such times, for such I
rices and upon such terms and conditions,
5 they may deem advisable. i
Said board of directors shall make all the
ules, regulations and bylaws for the gov
control and management of the bus
ness and affairs Of the corporation, and alter,
mend and change the same al pleasure.
Article Vino stakeholder shall ever be
eld liable or resposible for the contracts or
aults of said corporation in any further sum
han the unpaid balance due on the shares
t stock owned by him, nor shall any mere
nformality in organization have the effect
{ rendering this charter null, exposing
stakeholder TO any liability beyond the
mount Of his unpaid stock, nor shall any in
or irregularity in organization ever
ave the effect Of rendering any stakeholder