The herald. [volume] (New Orleans, La.) 1905-1953, 1917-10-04


and State aforesaid, who declare:
That, availing themselves of the provisions
of the Laws OF the State OF LOUISIANA iela
tive 10 the formation OF corporations, ahq
particularly, the provisions OF Act 1oL OF
1914 OF the General Assembly, OF the state
Of Louisiana they do hereby and by these
presents, on behalf OF themselves and Of SuCh
other persons as may hereafter become as
ISOLATED with them, covenant, and agree,
and bind and obligate themselves, as wen
as such other persons 10 form and constitute
body corporate and polite IN law foT
the objects and purposes and under the supu
lations follow ing, tO-wlt:
Article The name Of this corporation
shall be .'Sangassan Building and Realty
Company Inc" -
have, in its corporate capacity and name
the enjoyment Of all the rights, advantages
and privileges granted by Law to corpora
tIou., 70 contract, to sue ana De sueI -
adopt and use corporate seal, 70 Ouy, AoIu'
receive. convey mortgage or pledge property
both real and personal, 70 issue notes ana
other written obligations or negotiable lnstru
meuts. 70 have and employ such agents ana
employees as the interest and convenience
Of the said corporation may require or &c
manl 20 name and establish such by-!awe,
rules and regulations may be deemed
necessary and IN general to do any and all
acts, pertinent - its business, and not IN
violation OF The Law.
Article LITTLE objects and purposes OF
thu, corporation are hereby declared 10 De:
Generally to engage in the business Of buy
ing, selling, renting, leasing, Or improving
real estate and to act as agent brokeT
or principal in transactions relative there
TO; 10 make or have made plans and Speci-
hca,ionS for The erection OF Improvement OF
buildings, and TO act as contractor, SUD
contractor, or principal IN sulA tIe zion
" Improvements; 20 obtain or grant iodis
on real e~atc improved uulmpTOved; anu
TO handle Tor itself for others invest
ments relative thereto; lawfully to acquire
and dispose OF, by purchase SAFE d3nA'lon
OF otherwise and to mortgage, encuinocT' or
otherwise affect real estate Or moyaJly pop
criy necessary or pertinent 20 lis business
10 collect rents for its own account o! lot
account II others; and 70 solicit ana place
with agents or insurance companies pO!lClee
Of insurance affecting or protecting real &.
tate, building contracts OF matters connected
with the business or within the scope OF the
corporation; and in general 90 do and per
form any and all acts and .hlng>, cltler
necessary and pertinent u the purposes and
objects OF the corporation, or connected with,
promotivc Of or related %, such purposes and
Ariicie IV-The capital stock OF this cor
pora.iou j. nxed AZ the sum Of Five Thou
sand ts5,OUoD divided IHco Fifty shares
Of . par value u One Hundred Dollars
teltD.nD each, more than my Pc cent Ot
whi,n na, been subscribed Tor and paid Tor.
All shares Of stock shall be full paid and
rOn-a,>cSSaJle. No transfer Of stock shall
Ne binding upon he corporation unless made
uvou is books. No stakeholder shall sell
any snare OF his stock 70 any person unless
shares 10 said corporation al the book value
;h-.r,f a. established by the last inventory,
4ni w.,vH said offer shall have been made
10 .,. corporation, ii shall be its luty u
.dv!Nv the other stockholders Of nd "!ie~
and hey shall have an opportunity and option
- purchase said stock, IN the same proper
In a., each Of said stockholders hen hold
iu,, ( stock in the corporation; the failure
l. - l. boil l..T- ~
toider- to avail himself or themselves Of
such fer - acquire to accrue 10 the pthcrs
in the same proportion as Aforesaid; wlvh
option they must exercise within thirty
days after the receipt Of The said notice
thereof from the corporations which notice
Article V.-fhis corporation shall have the
righ; 10 increase its capItal stock 20 ne fur
thcr sum Of twenty-five Thousand Dollars
S25,OnOOD 10 ae divided The present capi-
tai stock is divided, provided said increase
shall have been voted al meeting OF the
stockholders duly called for the purpose and
by vote Of two-thirds Of all the outstand-
Article VI.-The domicile OF this corpora
ton shall be the City Of New Orleans,
Parish OF Orleans. Louisiana.
Article NIl.-This corporation shall exist
and have succession for period OF ninety
nine years from date hereof unless sooner
dissolved liquida;ed.
Article NIlI.-The corporate powers OF this
corporation shall be vested IN and shall be
exercised by a Board Of Directors consist
ing OF three stockholders. majority Of whom
shall constitute a quorum Toy the tranSac-
ton OF business, provided such majority
together represents over one-half OF :hc out
standing ,totk. The Directors shall be elect
ed annually by ballot by the stakeholder, a;
al annual meeting OF stockholders to be
held on he first Monday of September III
each and every year. Each stakeholder shall
he entitled. in person or by proxy, %
ypr f,- Df le
Fifteen days notice Of ,ne annual meeting
shall he sent TO every StockhOldeT at MS
last known address by registered nail. The
director, elected AZ any annual election
until :lcr successors shall have becp elect
el and qualified. The said Board OF Direc.
:0rs, shall, At its first meeting, nominate
and elect out OF its members a President,
a Vice President and Secretary. The
President shall exercise the functions OF and
d. char2c he duties OF Treasurer. He shall
have POKER without other authorization 20
sign checks. execute notes, secured by mort
gage otherwise. or unsecured, negotiate
sale, purchases, leases, loans, building
other contracts for and in the name OF the
c,rporation; and sign for and in the name OF
the corporation any deeds OF sale or pur-
chase leases, mortgages, contracts, other
instruments for the business or purposes of
the corporation; and III general TO be and
act as General Manager OF the corporation.
No officer Of this Corporation shall receive
any salary tNNCpl oE VOC VI i<iJDElby pI
outstanding stock.
Article lN-Until the annual meeting of
stockholders, 20 be held in the year 1918,
or until successors are elected and qualihcd
the following shall constitute the Board OF
Directors and Officers OF the Cooperation: NJ
John Sangassan, President; +. +. Lansing,
Nice-PreSident; Lawrence Hitler, Secretary.
Article N.-Every subscriber TO the capital
stock OF the corporation shall be liable only
for an amount equal to the unpaid balance
due on the stock for which he may have
subscribed, and no s:ockholder shall ever
be held responsible or liable for the con-
tracts or faults OF this corporation in any
further sum than as above provided.
Article NI-Service of all legal process.
shall be made on the President and in hi.
absence upon the Vice President and in the
absence of either, then upon the Secretary.
Article Nll-The subscribers 20 the CAPT
tai stock Of this corporation have set opposite
their respective signatures hereto. their
several addresses and the amount of their
respective subscriptions to stock, that this
Act of Incorporation will serve as the original
subscription list Of the Stock of the corpora
tion