The herald. [volume] (New Orleans, La.) 1905-1953, 1916-10-05

the resolution 50 adopted by the board Of
directors. In case Of the dissolution of this
corporation, by the expiration OF SIS char
ter or otherwise, the stockholders shall elect
three 90 lqudators from among their num-
her. who shall have full power and author
lty to hqudate and settle the business and
AFFAIRS OF the company In case OF death or
disability OF any OF said liquidators, the sur
yIvor survivors, shall appoint a successor
or successors, TO him or them.
Article NIlI.-Until the election TO be
held the second Monday in October, nine.
teen hundred and seventeen Q9l7) the fol-
lowing stockholders shall constitute the first
board OF directors: John Peter Gerde, An
drew HypUlite Gerde, Eugene LacOste. with
the said John Peter Gerde as president An
drew llypOhte Gerde as secretary-treasurer,
and Eugene LaCoSte As vice president, their
respective addresses being follows: 1903
NalenCe street, corner Dryades street, New
Orleans, Louisiana; 47S Dryades street, New
Orleans. Louisiana; and 1918 Bordeaux street,
New Orleans, Louisiana.
Article lN.-Ihe capital stock of this cor
Poration, after having been transferred from
thrs corporation to 4 subscriber thereof, shall
not be sold transferred or offered for sale
or transfer by such subscriber, without first
having offered such stock to this corporation
and to the stockholders Of this corporation at
the then market or book value thereof, which
market price shall be ascertained by the then
prevailing market price OF such stock, II such
pr1Ce prevails AT such time, when If not,
the book value of such stock shall be ascer
or by two competent and experienced buSi-
ness men, one to he chosen by the subscriber
and the other by this corporation or the
stockholders or stakeholder, prospective pur-
chaser, when If said two parties cannot agree
upon 4 book value, such two parties SO chosen
10 choose a third party, when the majority
opinion shall prevail. In the event of the
demise OF a holder or holders of the stock
OF this corporation the administrator exec
utor or representative Of his estate to imme-
diately tender such stock to this corporation
and the stockholders thereof on the same
basis. Such offer and tender 90 be made by
the holder or holders of such stock 10 this
corporation and the stockholders thereof by
the mailing Of a registered letter containing
such offer or tender addressed to the last
known addresses Of this corporation and said
stockholders. Such offer or tender 90 remain
open for a period of thirty 800 days from
the date OF the mailing of such registered
letters, when II not availed Of, such holder
or holders To be released to make a sale or
] transfer as he sees ht. In the event of this
corporation not availng Itself of such offer
i or tender such stock 50 offered 10 be equally
pro rated between the stockholders of this
corporation should they so desire TO avail
themselves thereof, when If they do not such
stock might be purchased by such stock
holders 50 desiring TO acquire same. 10
such extent all stock as issued by TINS cor
poration shall be non negotiable.
Article N.-Nhcreas, John Peter Gerde and
Andrew Hypolte Gerde have offered for sale,
on the basis Of subscriptions 90 the capital
Inc, the corporation which is presently being
organized under the laws of the State OF
Louisiana, and for and IN consideration OF
the price hereinafter mentioned and for
which the following described property is
hereinafter appraised by all of the directors
hereof and concerning which accurate de-
tailed and itemzed description Of such prop
erty, as to amount, location, extent, character
and state OF improvement appears herein and
Is made part hereof, and which said herein
after mentioned consideration Is herewith
being paid and acquttance and receipt given
therefor in the capital stock Of this corpora
ton, 1he following described property Is
herewith and by virtue Of these presents
sold. granted, bargained, set-over, assigned,
conveyed and delivered with full legal war
ranties and with full substitution and Subro-
cations to all rights and actions of warranty
which said vendors might have or had against
any preceding vendors unto the sald Lacoste
Bros. Inc, the corporation which IS being
presently organized under and by virtue OF
the laws OF the State Of louisiana, and
which said vendors thereof the said John
Peter Gerde, declared unto me notary, that
ne has been married but once and then to
Katherine Lannes, who Is presently living
and residing with him in this city, parish
and State as aforesaid; and the said Andrew
IIypolite Gerde, declared unto me notary,
that he IS not now nor has ne ever been
married. the said real estate and improve
ments as is herewith transferred being de-
scribed as follows:
lst: Two certain lots Of ground with the
in the Sixth District of this city, in the
square bounded by Nalence, Dryades, Bor-
deaux, and St Denis (now RamParO streets,
designated as Lots Nos. Q0 and Q4), thir-
Hedin, Surveyor, deposited in the office of
Theodore GuyOl. notary public, OF this city,
as plan No. 10, said lots each measuring
thirty. 800 feet front on Valence street, by
a depth Of one hundred and twenty 020) be
tween parallel lines. Lot No. thirteen. r0
forms the corner OF Dryades and Nalenee
streets.
Ind: Two certain lots of ground with the
buildings and Improvements thereon IN the
same district and square above described
property designated by the Nos fifteen Q5)
and sixteen 90 on the above mentioned plan
of c. A. Hedin, Surveyor, said lots measur-
ing each thirty 900 feet front on Nalence
street by one hundred and twenty Q2O) feet
in depth between parallel lines.
3rd: Two certain lots OF ground with the
buildings and improvements erected thereon
and the appurtenances thereof, situated in
the Sixth District OF the City Of New Or
leans. in Square No. $50, bounded by Bor-
deaux, Dryades, Nalence and St. Denis Cnow
RauparrD streets, designated by the Nos.
thirty C5O) feet front on Dryades street, by
one hundred and twenty 020) feet IN depth
between equal and parallel lines, as per plan
Of C. a. Hedin, surveyor deposited as fian No
10 in the office Of Theodore Guyoi, late no
tary. in this city.
All OF this property having been acquired
by the said vendors hereof, John Peter Gerde
and Andrew Hypolite Gerde, in indivision;
by virtue Of an act OF partition as execn,eo
before Theodore A. Schuber, notary public,
Of the parish Of Orleans, State of louisiana,
of date the 10th day Of the month OF June,
in the year nineteen hundred and fourteen
Q9l4), and which act has been placed o.
Of Orleans, State Of Louisiana, in book 20,
folio 42s-42s, Of date the 10Th day OF the
month of June, in the year 1914"
Now, therefore, we the undersigned con-
s,it,,ting the board Of directors OF the sald
1tSo Bros., Inc, as is provided by these
,hst we have diligently, carefully and fully
investigated and ascertained the value value d oi
said property as IS hereinaoove speSiis,y y,ine
equal equal and equivalent to the sum OF seven