The herald. [volume] (New Orleans, La.) 1905-1953, 1917-09-06
2O3
Strand
Building
CHARTERS.


to make and use a corporate seal, and the
same 20 break or 10 alter al pleasure; %
hold, receive, lease, purchase, convey, pledge
anu mortgage, under ITS corporate name,
property, both real and personal; lend Or
borrow money on security, 10 establish and
maintain ont II is receipts from any source,
such special fund may be necessary 10
cover losses, OF meet the liability Tor re-
dempuon or payment oi :natured shares
- name and appoint such officers and agents
the interest and convenience Of said cor
p0.atIJn may require; - make and establish
such bylaws, rules and regulations tor the
proper management and regulation OF the
AFFAIRS OF SAID corporation as may De neceS-
sary and proper, and the same q change
and alter AZ pleasure, and 10 do all such
acts and things as are Or may De necessary
and proper 70 carry out the objects and pur-
poses yf said corporation.
Article III.-ODJects and Purposes. The
object Of this corporation shall be the accu-
mutation Of fund from payments made on
account OF the capita! stock, rentals, pre-
Ulums. interest on loans and other sources
the fund 50 accumulated - De used Tor the
purchase and sale Of real estate. the build
ing, renting and sale Of home steads, and
the lending OF funds upon mortgage Of
realty, pr other security in The city OF New
Orleans. Parish OF Jefferson and the Parish
OF -. Bernard; and upon the shares OF the
corporation to the extent OF 81 per cent Of
The face value thereof, other than loan shares,
but no loan upon other than real estate seCu-
made wiki put the consent Of at least twelve
members OF the board Of directors. The cor
Poration shall have the power TO borrow
money IN the discretion Of the board Of d.
rectors
Article Iv.-Capi,al Stock. The capital
stock of tins corporation shall be i've million
dollars, t>5,oo0oor0ol, and shall be issued in
shares payable at such time and in such
manner as hereinafter provided
The shares shall be divided into three
classes. namely: FulI-paid, Cur-en: or In
vestment and Permanent. For the sake of
convenience, Current or Investment shares
shares.
Iuvestmen: shares shall re issued at the
par value Of one hundred dollars each, pay
able at the rate OF one dollar or multiple
thereof per month per share.
Full paid and permanen; shares shall be
issued at the option OF the board Of directors,
IN shares u twenty-five dollars each, pro-
vlded that said shares shall be paid up in
full AZ the date OF issue.
Loan shares shall be issued at the par
value Uf h.ty dollars each, payable on or
before the last day of each month. at the
rate Of twenty-five cents or multiple thereof
per share.
Insta,fnents on stock shall be MONITOR
feitable Payments on shares installments
and interest, shall be due and payable al
the office OF the corporation, on or before the
last day Of each consecutive month, and all
payments shall be imputed:
lst 10 the payment of any insurance
taxes or other assessment paid Tor account
Of the shareholder;
I'd. To the payment of interest due;
,3rd. The balance Of the amount 10 be ap-
piled towards the payment of installments
on shares; provided that the order of imputa-
ton may be changed at the discretion of
the board ~ directors.
Article V.-Dividends The board of di.
rectorS shall determine sem-annually the
net earned profits OF the corporation, and
upon each share. OF stock dividend shall be
declared, appOrtioned at its discretion.
The board shall retain a part of the profits
~ the corporation. in order to create a sur
plus, and reserve fund for contingent
losses
The dividends declared by the board shall
ers
Investments shares shall receive divi.
dend credit computed monthly at the rate
appoTtloned by. the board on the monthly
instruments paid in, provided that when the
,otai payments OF said installments and div
idends credited equal the par value of said
shares: one hundred dollars each, the same
snail be redeemed by the company
Dividends upon full paid shares shall be
payable seml-annually i'll cash, upon the
lace value OF said shares, at the rate appor-
toned by the board.
Loan-shares shall receive dividend credit
computed monthly, on the monthly INSTALL
nents paid in, until the installments and
me dividends credited equal the face value
81 htty dollars, when the said stock shall
Ie uee'ned 10 rave matWed and applied to
the payment of the note or notes the ono
,anceiling the other, and vice-yersa. Pro.
'lded that III loans where premiums have
been paid, the board Of directors NAV, at
rs option. determine the prorata dividends,
n proportion to the earnings of the company
and the relative rank OF character Of he
shares, and may declare different dividends
lpon such class of loan shares.
ArticIr Nll-Arrearages and Fines Should
my borrower of the corporation fail or ne |
HI
II such time as the same may fall due and |
IS may be provided for in his or her con-
Tact; the said borrower shall forfeit 1-lC Of |
he dividends to his credit for each and ey.rv
month of said arrearages; ~ rxec,,,ioyy |
nereof to be at the discretion OF the hoard
y directors. The company reserves the r;gbt
u t9recioSing all Indebtedness of mortgages |
IN the failure, neglect or refusal Of any H.
over to pay his or her monthly instaIImeDts
interest, or other assessments The exec,,
ioA whereof however. 10 be at she discre.
ION OF the hoard Of directors, and ali COSTS
De Paid by the stockholder in arrears.
article N.-Loans. Each stockholder f,r
ach snare OF loan stock he NAV hold in the
ofporatlon, shall be entitled TO receive f-,,,,
ne FUNDS OF the corporation a loan OF fftv
III whenever the funds in the treasury
hSpose~ Of TO the stockholders in s,rb No.
er as the board OF directors NAV deternire
'tockholders making loans, shall nav jnter.
:, % .ne race thereof, by monthly payments
- 90" .udy OF each and every |
month"; at a rate Of interest peer annnm ~
e provided in the bylaws
Article NNI.-Amcndment and T;ou;J,
ion. ms charter may Be amended nd; |
CO. added TO, or changed, or this cornor. |
i r may De disso lved, at a general meeting
inc members, by a three-fnurths vote ~ |
ne STOCK represented at such meeting :, |
erson or by proxy. Provided, however thu,
nc CpnVenng OF such meeting shall he al !
eruSed aud published in a daily neysnane-
, New orleans for ten days prior 10 sncb
.eelIHs; ana further, that all proposals IN |
end' modify, add to, or change or dis.
i've saai be presented in writing to the
80: .u vi directors at a regular meeting nre |
Olders" ''S Vi the stock
= nus done and passed at nv Office :, ~.
ny OF New Orleans, the day, month snd
ear first above written, in the r.as. and
MeSsTS. Hyman Mithoff and G,.6rge e.
du'' competent witnesses who have H.
mo signed their names, together y;,L ~
a.I dppearers, and me, notary, after dne
eading OF the whole ~' u'e
origlnal Signed: L. F. Rabo,in nresid.,..
TeHerIck Querens. Jr., secretary. Hyman
lithoh, Geo. St. Paul. ND"
ROGER MEUNIER, Not Pub
l. me undersigned, Recorder of MORTGAGES
ana Tor the Parish of Orleans. STATE ~
nulsIdana, do hereby certify that the Act Of
.,.e luinent OF the German-American Home.
&c Eau was ms day duly recorded in my Of
New Orleans July "a. 1917
tSigneb EMILE J. LEONARD Nv D
A true copy OF the original on file and Of
cord in my Office anu Vi
ROGER MEUNIER, Not. Pub
ug 10 q 30 seep w.