The herald. [volume] (New Orleans, La.) 1905-1953, 1916-03-30
CHARTER
CHARTER
OF AUDUBON PARK REALTY COMPANY,
INC


United States OF America, State OF Louisiana.
! Parish OF Orleans, City OF New Orleans.
BE II known, that on this. the 25th day
| OF February, one thousand nine hundred and
sixteen Q9l6), before me, Watts X Lever
| Ich. notary public, duly commissioned and
qualified in and for the parish OF Orleans.
State Of Louisiana, in the presence Of the
witnesses hereinafter named and undcrs gned,
personally came and appeared the parties
whose names are hereunto subscribed who
Severally declared:
That availing themselves OF the provisions
Of the laws Of Louisiana. relative to the or
ganIzatiOn Of corporations. they have con-
tracted and agreed, and do by these pres
ents contract and agree and bind and obli-
gate themselves, well all such persons
as may become associated with them, to form
themselves into and constitute a corpora
ton and body polite in law. for the objects
and purposes and under the conditions and
StipulatIDns OF the articles following, to-wit:
Article 1.-The name and title of said cor.
poration shall be Audubon Park Realty Com
pany, Inc, and under its said corporate
name II shall have power and authority and
ENJOY succession for the full term and period
of nInety-nIne years, from and after date
hereof; to contract, sue and be sued, TO &C
cept and receive mortgages, pledges or other
hyPotheCatIOns, To make and use 4 cOrpOv-
ate seal and the same to break and alter at
pleasure, TO purchase, receive, lease, hold or
otherwise acquire, and convey, as well as
mortgage and hypOthecatc under its corpor-
ate name property both real and personal
anu HilNtu, 10 name anu appoint SuCl mana
gers and directors, officers and agents as the
interests and convenience OF said corpora
ton may require, and II make and estab-
hSh, as well as 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 neces-
Sary and proper
Article 1.-THE domicile of said CORPORA
ton shall be at New Orleans, Parish of Or
leans, State OF Louisiana. and all citations
or other legal process shall be served upon
the president Of said corporation, in case
Of his absence upon the vice president or
IN the absence of both of these officers upon
the secretary OF the corporation.
Article lll.-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 buy, sell, or
otherwise acquire and ALLEVIATE real estate
and lands IN the State Of Louisiana, or else
where, 10 lease and release real estate and
lands, to mortgage and hypothecdte the
same, 10 subdivide same into building lots
and to build upon and otherwise improve
same, and to do general real estate and
land business to exchange its entire capital
stock or any part thereof for property which
II Is authorized hereby to acquire, or TO ex-
change its assets and business in whole or
in part for money stocks bonds or
do any and all such acts and things as may or
shall be necessary and proper to carry out
said objects and purposes
Article lN.-The capital stock of said cor
poration is hereby fixed at S5O,OOOOO, di-
vided into or represented by five hundred
$500 shares OF par value OF one hundred
dollars (SlOOOO each. Said stock shall con-
sist of and be issued as 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 (S25,0C0OO), divided into and repre-
scented by two hundred and fifty ESQ shares
Of par value of one hundred dollars (SlOO)
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 at the rate OF seven
per cent per annum, payable out of the
profits. Such dividends shall be cumulative, |
limited TO seven per cent per annum. and
said first preferred stock shall be entitled to
no other or further share OF the profits. In
event of any liquidation or dissolution or
winding up, whether voluntary invoun-
tary, of this 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 un-
paid dividends at the rate of seven per cent
per annum 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 (S25,OOO0O), divided into or represented
by two hundred and fifty ESQ shares Of a
par value of one hundred dollars $500 each
and shall be entitled to such dividends as
may be declared by the board of directors,
subject to the provisions of section / here