The herald. [volume] (New Orleans, La.) 1905-1953, 1916-06-01

signed witnesses, personally caa.e and ap.
are hereafter subscribed, Of the full axe Of
majority. who declared 20 me, thai lvII!luE
themselves %! the laws Of this State relative
TO the organization 81 corporations, and more
especially OF 40, nj Of the acts Of 1914, page
52l, 81 The Legislative Acts % this state,
they have Covcul1,cd and agreed, and by
these presents do covenant and agree for
themselves and their successors and assigns
10 form themselves into corporation and
body polite, for the objects and purposes
and undc- The Stipulations hereinafter set
forth, io-wst.
Article The name and title Of this cor
porai.on shall be The Land Trust Company,
Incorporated and under such title II shall
have and ENJOY succession iOr Il period OF
u.ucty-uIue 800 years from date hereof and
shall have power and authority 10 contract,
sue and be sued. make and use 4 corporate
seal, the same 10 break and alter at pleas
urc; 10 hold, sell, lease, mortgage, hyp0the-
cate, or pledge property, real, personal or
mixed. necessary, incidental or proper for
the carrying on OF It's business; to buy and
hold stock IN any other company or Compa-
mes that may assist This company in ITS
notes and certificates OF Indebtedness; to
name, elect and appoint managers, directors
and clerks or other employees 10 properly con
duet IL corporate business and 10 make such
bylaws, rIlcs and regulations may be
found necessary or desirable for the man
aGcmcut and business affairs OF this cor
pOra,ion, and generally TO do every other
act, matter or thing necessary for the com
plcic and proper carrying ont OF SAID buSl-
ness.
Article 1.-THE domicile Of this corpora
ton shall! be IN the city OF New Orleans.
parish OF Orleans State Of louisiana where
all citation and other legal process shall be
served upon the president, or IN the alb
sence OF the president upon the vice-presi-
dent, or in the absence OF both upon the
secretary.
Article III-Thc objects and purposes of
this corporation are hereby declared and
stated to be:
To deal in. acquire, purchase, hold, lease,
sell. pledge and mortgage property movable
or iumoyable, and mixed, situated in this
State. or elsewhere, and 10 issue stock and
bonds thereon, and deal in mortgage notes,
bonds. stocks and other securities; to pro-
mote and uudc-wrItc land ana other pro-
Jects; to develop, cultivate, and reclaim
lands, and for this purpose to build levees,
bitches, bridges and roads, to install pumping
plant. for drainage and irrigation. 10 oper.
ate dredgeS, 10 erect, build, construct and
contract for the erection Of dwellings and
other building; and TO prospect Tor mineral
deposits, and operate or mine oil, gas, sal;
and other deposits.
corporation is hereby fixed az the sum OF
two million Cs10O1U0OO) dollars. divided
into two hundred thousand shares of the
par value OF ten $1,000 dollars each, pro-
vded that the amount to which the capital
stock Of this corporation may bc increased
shall be two million. FIVE hundred thousand
81. sOO,OOOOO) dollars.
Fifty GOCc) per cent OF the capital stock
Of this corporation must be subscribed for
before the filing OF the articles of incorpo-
ration. The subscribed capital stock OF this
corporation shall be payable IN cash and IN
prufertv, real or personal
% No stakeholder shall ever be held liza
bile or rcsponS bic for the faults, contracts
or debts OF this corporation IN any further
sum than the unpaid balance due the cor
- rI,, q .,fe tt,aA 90
by him. nor shall any mere informality IN
the organization have the effect of rendering
this charter nsll or OF exposing any share
holder to any liability whatsoever
Co This corporation shall not engage in
business until five hundred thousand $780,
OuOO dollars Of the capital stock shall have
been issued aud actually paid in. either IN
cash or property as aforesaid: II any OF
the stock OF this corporation IS exchanged,
in whole or IN part, for property, IN that
event the provisions OF section three OF Act
POI OF 1914 shall be strictly complied with.
Cd All Of the stock subscribed for herein
by William J. Castel, in his capacity Of
trustee. as set forth in Article Nine hereof,
shall be held for the benefit Of the corpora.
ton as treasury stock, and said William ].
Castell has no personal right IN, nor per,
Sonal liability to pay Tor sad stock. SAID
treasury stock shall be sold for cash only;
bu, the board OF directors may FIX The price
az such sum as they may deem 10 the cor
poratIons best interest, or may sell the same
through brokers on commission and on IN;
Stallments, holding the stock as collateral
until fully paid for.
Ce) All transfers Of stock Of this corpora
ton shall be made on the books of the cor
poration q: It's office in the city of New Or
leans.
Article V.-All the corporate. powers Of
this corporation shall be vested in and exer-
cised by board of directors composed 0:
not less than three 81, nor more than NJ,
teen QSl stockholders, each of whom shall
| office al least one full paid and unpledged
| share OF the capital stock, which shall be
| shown by his written declaration. the num-
! Der necessary for 4 quorum foc the t-ansae'