The herald., 1917-04-26

the proposed lowest price of said stock not
to exceed the actual value thereof at the
time of such offer. After thirty days from
the receipt OF such written offer and on
failure OF the other stockholders, any of
them TO purchase said stock, the owner there
OF shall be at liberty to sell such stock for
not less than the price 50 named by him in
said offer, 70 other person or persons.
Article N-The corporate powers of this
corporation shall be vested in a board of
directors consisting OF three stockholders.
The first board of directors shall consist Of
| Louis Henry Burns, who shall be president;
Robert f. Burns who shall be vice-presi-
tary, all Of whom are residents OF New Or
| leans, III the said parish and State, and they
shall serve such for one year from this
date or until their successors shall be duly
elected by the stockholders and qualified;
such elections shall be held at an annual
meeting on the second Monday of October,
| 1917, and of each year thereafter, provided,
that should no such election be held through
inadvertance, neglect other cause, the said
officers and directors TO continue in Office
until such time their successors may b
elected and qualified, provided that no cleo
ton shall be effective unless more than fifty
one sd per cent Of the capital stock issued
is present or represented at such election and
voted
All such elections shall be by ballot and
conducted under the supervision of two COM
missioners to be appointed by the board of
directors for that purpose. Notice of such
election to be given each stakeholder in
writing by registered mail addressed to his
or her last known address fifteen Q5 days
! prior thereto, and each such stakeholder shall
at such election, or at any stockholders
| meeting be entitled to one vote for each
share Of stock owned by him shown by
| the books Of the corporation. All proxies
| shall be in writing signed by the stock
| holder.
| Vacancies occurring in said board for what
| ever cause shall be filled by the remaining
| directors for the unexpired term, and any
| director may appoint by writing another
person friendly to the corporation to act as
| his proxy on said board 10 act for him and
| exercise for the time being all the power Of
| sue" director.
Three directors shall constitute quorum
for the transaction of all business The said
| board as aforesaid being vested without
striction whatever with all the corporate
powers OF this corporation, particular and
general, to do and perform all acts and
affairs and business and the accomplish
neUt Of its objects and purposes as set forth
in detail in the foregoing articles
Article NI.-The officers of this corporation
shall be a president, a vice-president and
. | 81, -afary, who shall be designated as such
. in tn order named by the board Of direc-
tors acco.t'0g 20 the number Of votes cast
for each tins annual election at which
, Article VII.-This at Of deportation may
, be altered and ameudJ' by a vote Of more
than hfty-one (5D per c."' IN amount of
the capital stock, or said corp. -a'ion may
be dissolved by a vote N amount %. t"..
thirds of said stock az a gencTal meeting u
y | stockholders convened Tor mat purpose after
fifteen days previous notice by registered
| letter, and each stakeholder at his last known
. | address and after three previous publications
: Of such notice in daily newspaper, OF the
: | city OF New Orleans, during fifteen days.
. Article VIII.-Whenever this corporation
& may be dissolved by expiration Of its char
g ter or sooner by vote Of the shareholders
:. two liquidators shall be elected al gen.
y eral meeting held as above provided. These
, lquidators shall continue in Office until the
4 full liquidation of the corporation, and in
- case of the death of either of them, tn,
= shareholders may elect a successor, should
- they not do the whole authority OF both
~ liuudators shall be vested in the survivor
y Article IX-No stakeholder Of this cor
y | poration shall ever be held liable or respor-
q sible for the contracts, debts faults of this
"a corporation in any further sum than the un
n paid balance due the corporation on the
ID shares owned by him; nor shall any inior,
70 rality in this charter or the organization oil
- this corporation have the effect Of render
. ing the same null, or Of exposing stockhold
r. er to any liability beyond the amount Of hi
% % Thus done and passed in the city of New
ar Orleans on the day, month and year hrs
~ above written, in the presence OF Messieur
n Stirling Paterson and George r. heroer
e unto signed their names with the said ap
~ parers and me, notary, after due reading o
ct ''' Names Of subscribers omitted)
~ Witnesses: Stirling Patterson, Geo. F
Is Is 's'' LAWRENCE NJ. JANIN. Notary Publ,
- (SEAL)
d I, the undersigned recorder of mortgages
in and for the parish of Orleans, State
IA Louisiana, do hereby certify that the abov
~. and foregoing act of Incorporation of ii
Scotia Realty Company, Inc, was this da
ny duly recorded in my Office: in book 10
-, folio - New Orleans. April g. 1917.
Ter (SigneD EMILE J. LEONARD. by. R.
l.. " LAWRENCE NJ. JANIN, Notary Publ
-, April l9 26 may 10 IL "A