The herald. [volume] (New Orleans, La.) 1905-1953, 1917-03-08
CHARTER

/ -" - - - ''-N''
CHARTER
| OF COLONIAL LAND COMPANY, INC.
| United States Of America, State OF Lorisi
ana, Parish of Orleans, City OF New
! Be it known, that on this the twenty.
| fourth day Of the month Of January in the
year OF our Lord nineteen hundred and sew
enteen and Of the independence OF the United
States OF America the one hundred and forty
first. before me, Francis daisies Charbon.
net, a notary public, duly commissioned and
qualified, in and for this city and parish,
therein residing and in the presence OF the
witnesses hereinafter named and under
signed, personally came and appeared: the
several persons whose names are hereunto
subscribed, who severally declared that,
avaiiing themselves OF the laws of this
state, relative to the formation of corpora
tons, they have covenanted and agreed and
by these presents do covenant and agree and
bind themselves, as well as such other per
sons who may later become associated with
them, to form corporation and body pol.
itic in law, for the objects and purposes and
under the agreements and stipulatiOns fol-
lowing, to-wit:
Article THAT the name and title and
style Of this corporation shall be Colonial
Land Company, Inc, and by and under such
privileges, powers, advantages and iumuni-
ties allowed or granted to corporations by
any existing or future law Of this state;
that by and under such name IT shall have
power and authority TO sue and be sued and
to make and enter into all lawful contracts
that it shall see mt; 10 make and use cor
porate seal and the same TO break; alter and
amend al pleasure; to employ and discharge
all managers, agents or other employees as
may be necessary for the proper conducting
| of the corporations affairs and to nix their
compensation; to purchase, otherwise
| quire and TO sell, or otherwise ALLEVIATE, any
or all the property of said corporation, real,
personal or mixed, and the same to mort
| gage or otherwise hypothecate; to exercise,
all md RIO "
| ercised BY corporations and such other rights
as may be prescribed by the board of direc-
| tors thereof.
Article 1.-THE objects and purpose. for
which tits corporation is formed and the
| nature o. the business to be carried on by
it are hereby declared TO be:
| To buy, sell and deal in all kinds of real,
| personal or mixed property, within the State
| of Louisiana, the United States OF America,
| or elsewhere; to purchase, lease, exchange
or otherwise acquire amy and all property,
| movable or ialmovable, and the same TO sell,
lease, mortgage, hypothecate, donate, rent,
| exchange or otherwise ALLEVIATE or encum-
Der; to exploit, reclaim. improve real estate
| and to lay the same out in townsites, towns.
cities, villages, municipalities or other po-
| litical subdivisions, and in connection there
with 10 sell the said real estate as town
| lots, suburban sites or farms; to make and
construct all necessary or convenient i'm
bitches, canals streets, roads, banQuettes,
| sidewalks and alleys; to build and erect by
| itself or through others, residences, dwell
lngs or other structures and IN connection
| Herewith to operate any and all mills or
| factories for the purpose of manufacturing
| building material, ETC.; to buy and sell and
deal in personal property, stocks, bonds,
| mortgages other securities; TO buy, sell
and deal in, well vote in any manner
| or proceeding, the stock in other corpora
| tons and the interest in any partnership or
firm; to act agent, either through itself
or through its sub-agents, for any other per-
| son, firm or corporation, to do perform
| any of the objects and purposes above men
| toned, and generally, to do each and every
act and thing and to engage in any or all
| businesses incidental, connected with or
growing out of the above expressed objects
| and purposes, the same as If the same was
set forth at length herein
| Article III.-The capital stock of this cor
| poration is hereby fixed at the sum of fifty
thousand $4,000 dollars, divided into and
represented by one thousand Q0OO shares Of
the par value of fifty $50 dollars each; all
of said stock shall be paid for in cash.
The capital stock o f this corporation
may be increased to the sum Of five
which, if such increase shall be made, shall
be represented by the number of shares of
| the par value to be fixed by the stockhold-
ers the board of directors, who shall nix
| vided that the total thereof shall not exceed
! the said sum of fiye hundred thousand dol
| lars; that such increase shall be made from
time to time as the convenience OF the cor
4
| That such stock, if any is issued, shall not
| be issued for less than its par value, either
| for cash, for property actually received
| by the corporation, or for services actually
rendered to it; that in the event said stock
| is sold on installments the board of direc-
| tors shall provide and fix the time, manner
| and amount of the deferred payments there
| Of.
Such stock shall be full paid and nom
| assessable, subject only to the unpaid bal
ance due thereon. if sold on installment
payments. All stock of this corporation, pro-
| vided for herein or that which may hereafter
be issued, shall be valid only if signed by
| the president or vice president and counter
| signed by the secretary.
| All transfers OF any stock shall be valid
only when made on the books of the com.
pany, and transfer shall be made and
no stockholder shall dispose of his said
stock, either by sale or by donation inter
be first offered to the corporation, by writ
| ten notice delivered to the secretary there
Of, and said corporation shall, for ten days
OF the delivery of such notice to the secre-
| tary, have the right to acquire such stock,
| at its market price, or If there is no market
| price, for its book value according TO the
| books of the corporation.
| Article lV.-The domicile of this corpora
| ton shall be in the city OF New Orleans,
Parish of Orleans, State of louisiana, and
| II shall enjoy corporate succession Tor q Pc
Rod of ninety-nine years from this date;
| Article YAH legal process shall be
| served on the president, or in his absence,
on the vice-president, or any other officer
of the corporation, or as may be prescribed
| by law.
Article VI.-All corporate powers of this
| corporation shall be vested in and exercised
by board of not less than eight and not
| more than eleven directors. Until otherwise
| provided by the board of directors the said
| board shall consist of eight members, q
majority of whom shall constitute a major
ity for the transaction of all business.
! Said board shall be elected annually on
the FIRST legal Monday in January. The first
election under this charter shall be held in
1918 until which date the following shall
constitute the first board of directors, to-wit:
Ferdinand Katz, q Audubon Place, New Or
leans Allen H Johness, 9lo Pension .0,o street,
street, New Orleans; Francis D. Charlton
net, Jr, 1855 Ursuline Avenue, New Or
leans; Otto ]. Mayer, 3sl2 ST. Charles Ave.
nue. New Orleans; Albert S. White. 1851
| Esplanade Avenue, New Orleans; P. Seton
Schueidau, De Soto hotel, New Orleans, and
James Flotte. 1881 Bayou Road, New Or
leans, who shall hold their Office until their
successors have been elected and have quail
lied.
The said board Of directors shall elect
from their number a president, q yice-prcsi-