The herald. [volume] (New Orleans, La.) 1905-1953, 1917-11-22
CHARTERS.
authority, 10 have and enjoy corporate ex-
istenee Tor period Of ninety-nine years

ton shall be in the city of New Orleans
State OF louisiana All citations and other
iegai process shall be served upon the Pres.
ident OF said corporation, or, in case Of his
absence or inability to act or any vacancy
IN the otice, upon the Vice-President, and
IN the absence or inability or resignation
OF both President and Vice-President, upon
the Secretary. The president shall be the
executive ohcer OF the corporation; he shall
preside at all meetings of the Board Of
Directors and stockholders.
Article lII.-The objects and purposes for
when this corporation is established, and
the nature OF the business to be carried on
by It are hereby declared. to be as follows,
to-wit:
To engage in the business of lending
money, and to conduct general loan bust.
ness; to borrow money, to make and issue
bonds, payable TO bearer or otherwise, or
notes or drafts for the same or for any debts
or obligations incurred by it, or for any
other purposes of the said corporation, and
to secure same by mortgage or deed of trust
or any OF Its property; TO advance money on
property, both movable and immovable, and
to take mortgages, pledges or any other Sc
certificates of Indebtedness, the same as
natural persons; to issue time certificates,
with or without interest; to issue and sell
investment certificates with or without in
terest, and generally to do all things nee
essary or convenient to properly carry out
the objects and purposes of this corporation
and conduct its said business.
Article IV.-This corporation may sue and
be sued IN its corporate name; hold, have,
receive, purchase, convey, sell, mortgage,
hypothecate, pledge, lease and suitcase and
ENJOY real estate and personal and mixed
property; also borrow money, make and issue
notes and bonds, make contracts, receive
grants OF land or personal property, and make
and use corporate seal, the same to alter
or break at pleasure; name and appoint such
managers, directors, officers, clerks and
agents as the interest and convenience of
said corporation may require; and, through
its board Of directors, make and establish
such bylaws and rules and regulations for
the proper management and regulation
of the business and affairs of said corpora
ton as may be necessary and expedient, and
the same to alter and change at pleasure, and
shall! possess all the rights, powers and
privileges to which corporations are now,
by existing laws, or may be by any gen.
eral laws, authorized to possess. Said cor
poration may exercise its corporate powers
within any other State or Territory in the
permit the same, and may acquire real estate
and offices for the purpose of conducting the
business of said corporation.
Article V-The capital stock of this cor
poration is hereby fixed at the sum of twenty
thousand dollars, divided into ten thousand
5000 per share, and ten thousand dollars
of preferred stock of the par value of 5000
per share.
All stock subscribed for shall be payable
on such terms as the Board of Directors
may determine.
This corporation shall be going concern,
and may commence business, as soon as
have been subscribed, and fifty per cent of
the amount thereof actually paid an.
All transfers of stock shall be made on
the books of the corporation by surrender of
the original certificate properly endorsed for
cancellation by the stakeholder in whose
favor said stock is issued, or by his duly
authorized agent in writing.
The preferred stock issued may be in
creased to one hundred thousand dollars, but
no preferred stock shall enjoy voting pow
ers, provided the increase is voted for, at
meeting duly called, by two-thirds of all
of the common stock.
The Common Stock issued may be in
creased to fifty thousand dollars by vote
of the Board of Directors of the corporation.
Article VL-The common stock shall have
the complete and exclusive control of the
affairs of said corporation, and the exclusive
right to vote at all stockholders meetings.
Article VII.-Preferred stock shall be enti-
tied by preference to a dividend on stock
of eight per cent, and any excess of profits
over that amount shall be apportioned and
paid TO the common stock UP to eight per
cent. Any excess, after apportioning divi-
deuds aforesaid, shall be divided and appor.
toned equally between the two classes OF
stock. @
Article VIII-All the corporate powers Of
this corporation shall be vested in and exer.
cised by, a Board Of Directors, to be elected
annually, composed of not less than three
nor more than eleven members, who shall
be bona fide owners of common stock stand
ing in their names, unpledged and unincum
bered.
A majority of the said board shall consti'
tute a quorum for the transaction OF bust
ness.
Until the first Monday in October, 1913
the following named persons shall constitute
the Board of Directors Of this corporation
to-wit: Samuel ]. Hart, w. A. Bisso, Fred
A. Earhart, H. w. Robinson, d. A. Capdau
all of New Orleans
All elections shall be by ballot, and such
one vote for each share of said stock stand
ing in his name on the books of the corpora
ton, the vote TO be cast in person, or by
proxy; it shall require a majority OF stock
present or represented to elect.
Failure to elect a board on the first Mon
thereafter, shall not work forfeiture OF
this charter, but the old Board of Directors
shall remain in Office until their successors
are elected and assume duties.
The officers of this corporation shall con-
sist of a President, Vice-President and Sec
rotary ana treasurer, anu TIC ovaiN "'oy
combine the Office of Secretary and Treasurer
SO that same may be held by one and the
same person. Until the election in 1918, the
following persons shall constitute the officers
of said corporations: Samuel J. Hart, Pres
ident, w. A. Bisso, Vice-President, +. J.
Earhart, Secretary-Treasurer.
Article IX-Stockholders' meetings, other
than that for elections annually of members
of the board, may be held whenever ordered
by the Board of Directors, or requested oy
IS Der cent of the outstanding stock, COM
mon and preferred.
Notice of such meetings shall be given in
the manner required by law by personal no
tce to each stakeholder by depositing In
the mails, properly addressed, written notice
of the meeting, also that each stockholdei
shall have at least IS days notice thereof
Stockholders may, however, waive written
notice and appear in person or by proxy.
Article X.-This charter may be amended
modified or altered with the consent OF two
thirds of the amount Of common stock pres
emit or represented, at any general meeting
az said corporation convened for such pur
pose after due notice as hereinbefore pro
vided for. Any and all meetings OF the
Stockholders, whether for the purpose o.
liquidation or for any other purpose, ma,
be held at any time without notice by unan
imous consent of all stockholders, an writing
filed with the Secretary.
Article XI-This corporation may be dis
solved and its affairs liquidated wheneve
in the Judgment of the majority of the whole
BOARD Of Directors it shall be deemed advis
able, il ratified by a two-thirds vote OF al
stockholders; or BY the consent. in writing
~ all of the outstanding stock, IN which
event no meeting shall be necessary.
Whenever this corporation is dissolved 10
any cause, its affairs shall De iiquidatHe,S
AE