The herald. [volume] (New Orleans, La.) 1905-1953, 1917-05-03

/ the proposed lowest price OF said stock not
% exceed the actual value thereof at the
tlre OF such Offer After thirty DAYS from
/ The receipt Of such written offer and on
FAILURE OF the other stockholders, or any of
. them TO purchase said stock. the owner there
OF snail be AZ liberty to sell such stock for
NOT less than the price so named by him in
/ SAID offer, % other person or persons
Article N.-The corporate powers OF this
/ corporation shall be vested in a board of
directors consisting OF three Stockholders
HE hrst board OF directors shall consist of
I LOUIS Henry Burns, who shall be president;
Robert r. Burns. who shall be vice-pres,.
Gent; Ralph 5. Burns, who shall be sec,<-
tary, all OF whom are residents of New Or.
leans. N the said parish and State. and thew
snail serve such for one year from this
ltte. or until their successors shall be duly
elected by the stockholders and qualified;
suth elections shall be held at an annual
meeting on the second Monday OF October.
ISlI and Of each year thereafter. provided
that should no such election be held through
iHadEer'ance, neglect or other cause, the said
otncers and directors 10 continue in Office
until such time as their successors NAV be
t'ected and quallhed, provided that no cleo
t'on snail be effective unless more than fifty
voted. -"D
All such elections shall be by ballot and
conducted under the supervision of two com
Hissioners 10 be appointed by the board OF
directors for that purpose. Notice of such
election 10 be given each stakeholder in
writing by registered mail addressed TO his
or her last known address fifteen G0 davs
prior thereto, and each such stockholder shan
al such election, or at any stockholders
meeting be entitled 10 vote for each
snare Of stock owned by him as shown by
the books Of the corporation All. proxies
holder
Vacancies occurring in said board for what
ever cause shall be filled by the remaining
directors for the unexpired term, and anV
director may appoint by writing another
person friendly TO the corporation 20 act as
MS proxy on said board 20 act for him and
exercise Tor the time being all the power of
such director.
Three directors shall constitute quorum
tor the transaction Of all business The said
board as aforesaid being vested withou, re.
siHction whatever with all the corporate
powers OF this corporation, particular and
general 10 do and perform all acts and
things necessary tor the transaction of its
affairs and business and the accomplish.
ment OF rs objects and purposes as set forth
IN detail in the foregoing articles
Article NI.-Ihe officers of this corporation
shall be a esIdcut, a iCe-pre,ident and
secretary, who shall be designated as such
IN the order named by the board Of drec-
tors according 70 the number Of votes cast
Tor each IN the annual election at which
sad board was chosen.
Article Widths act Of incorporation may
be altered and amended by a vote Of more
than ttty-Oue sd per cent in amount Of
The capital stock, said corporation may
be dissolved by vote in amount Of two
thirds OF said stock a. a general meeting Of
STOCKHOLDERS convened for that purpose after
fifteen days previous notice by registered
letter and each stakeholder az his last known
address and after three previous publications
u such notice in daily newspaper Of the
city Of New Orleans. during fifteen DAYS.
Article NIII.-Nheucvcr this corporation
may be dissolved by expiration OF its char
ter or sooner by vote Of the shareholders
tw7 lqu,dat5rs shall be elected az a gem
eral meeting held as above provided. These.
lqu.dltors shall continue in Office until the
full liquidation Of the corporation. and in
case Of he death Of either Of them, the
shareholders may elect a successor, should
they not do 81 the whole authority of both
l.qulda'o-s shall be vested in the survivor.
Article IN-N0 stakeholder OF this
po-a;i1n shall ever be held liable or respon-
sIJle FOR the contracts, debts or faults OF this
corporation in any further sum than the
paid balance due the corporation on the
shares owned by him; nor shall any infor-
Ta.lty IN this charter or the organization Of
this corporation have the effect o. render
ing the same null, or Of exposing a skiold
er to any liability beyond the an. gH; Of his
stock.
Thus done and passed in the city of New
Orleans on the day, month and year first
above written, in the presence Of Messieurs
Stirling Paterson and George F. Herber,
competent male witnesses, who have here
unto signed ;heir names with the said ap-
pare-s and me, notary, after due reading Of
the whole.
Names of subscribers onit,ed.)
Witnesses: Stirling Paterson, Geo. r
| Heb-e
LAWRENCE ". JANIN, Notary Public.
f>EAL)
I, the undersigned reco-de. of mortgages,
n and f1- me parish OF Orleans, State q
Lor.s.ana DO hereby certify that the above
and FOREGOING act Of Incorporation Of the
Scotia Realty Company, Inc, was this day
! duly recorded in my Office. in book 1905,
| folio -. New Orleans. April 9, 1917.
lS;gned EMILE J. LEONARD, by. r.
| 4 true copy.
LAWRENCE NJ. JANTN, Notary Public.
April 70 Do may 10 II "a