The herald., 1917-04-19

Article III.-The objects and purposes Of
this corporation are hereby declared and
stated TO be:
TO buy, sell. pledge and otherwise dispose
/ OF and deal IN stocks, bonds, notes, securl-
ties, mortgages and commercial paper OF IN
divIduals, firms or corporations, ana 8ener-
allv to do any and all other acts and exercise
any and all other powers necessary or
proper to attain and further any OF the fore
going objects and purposes.
Article IN.-Ihe capital stock OF this cor
pora,ion is hereby hxed at the sum OF ten
| thousand tSlO.UuOOl dollars, divided into one
hundred lOO) shares Of the par value OF
one hundred $1,000 dollars each, provided
hat the amount 10 winch the capital SOCK ,"ii
# this corporation may be increased shall
be one hundred thousand (SlnUnuJ) dol
lars.
Fifty per cent OF the capital stock OF this
corporation must be subscribed Tor before
the filing OF the articles OF Incorporation
The subscribed capital stock OF this corpo-
ration shall be payable IN cash.
No stakeholder shall ever be held liable
or responsible Tor the faults, contracts or
debts Of this corporation IN any further sum
than the unpaid balance due the corporation
on the shares 81 stock subscribed Tor by
him, nor shall any mere lntOrmallty IN the
organization have the effect 81 rendering
;his charter null or Of exposing any share
holder 10 any Inability whatsoever.
Article N-AII ne corporate po%eTIs Oh
] "a
Il three 3d. stockholders, each ot whom sha..
own Iu ls, own right. during his term Of
office, az least one iu.l-paId and unp.edEed
share Of the capital stock, when saa4 De
ui whom shall constitute quorum i'r the
transactions Of business.
The officers OF this corporation shall con-
SIS; 81 a president, vlyc-prcsldcut and SEE
"Reminiscences, all Of whom shall! be mem
Der, OF the board OF directors.
The following named persons shall con
,,riu,c ;hc board OF directors of this cor
Edg1r VI. Rea. Charles F. Hardic and
Peter J. S,pusc, with Edgar VI. Rea PIES
Iicnl. Charlie, f. Hardle a. yIce-prcsldcut
and Peer Ni'use As secretary -tra'u.c''
un-l the first Monday IN April, 1918, or ami.
their successors have been duly elected and
qualified
Thereafter the director, shall be elected
annually on the inst Monday IN Apri. Of
each wear, beginning with the year l9lS;
all elections OF directors shall! be by ballot
and each stakeholder shall be entitled II one
vote for each share Of STOCK standing IN ms
uAu5c on the books OF the corporation, lAls
vote t, be cast in person or by proxy, and
II shall require a majority OF the stock
present or represented to elect.
Failure TO elect a board OF directors on
the FIRST Monday in April, lylS. OF annually
thereafter, shall not work forfeiture OF
THIS charter, but the old board oi directors
shall remain office until their Successors
are elected and qualified.
Article NI.-Ihr board Of directors shall.
hold regular meetings AT such times a, SHALL
be uNcd IN the bylaws OF this corporation.
These meetings shall be held AT The domIcle
Of the cooperation, but the president may
call special meetings OF the board OF dlJcc-
tors at such times he may deem advisable,
and he shall be required 10 call such special
meetings, whenever requested Il d. 50 by
Two members OF the board OF directors.
Three days notice OF such speCa, meetings
SHALL be given IN writing t. the directors
unless waiver OF notice IS signed by the
directors. Any vacancy occurring on the
board either from death, res gndtlOn, or ma
bilty 10 serve shall be hlled by the board
Of directors, Al Its next annual meeting
after such vacancy shall have occurred. Inc
nrst board OF directors OF this corporation
shall be required to draft suitable bylaws
for the government Of this corporation, which
may be altered, amended or changed as the
eNlgencies OF the case may require.
Article NII.-Ihe stock OF this corporation
may be transferred, provided such transfer
shall be recorded upon the books Of the cor
poratiOn before II shall be required TO rec
ognlze the transfer OF the new holder OF sand
stock. The total amount OF the subscribed
stock, as herein set forth, Is the Ut
ten thousand (SlO.OUUOO) dollars, which Is
hereby authorized to be issued fully paid
and worcestershire for cash.
Article NlII.-IhIS charter may be mOdI
ned, altered, tn capital stock thereof in
creased or decreased, or the corporation may
be dissolved with the assent OF twO-thirds OF
the capital stock present or represented at
any meeting OF the stockholders held for
that purpose, after prior notice in writing
TO each stockhOlder, OF mailed 10 HIM al
his last known post office address, all IN
accordance with the terms OF Act 20 OF
1919.
Article IX-At the expiration of this
charter, or the earlier dissolution of this
corporation for any cause, It's affairs shall
he hquIdated by or more hquIdatoTs 10
be elected by the stockholders, all OF whom
,na
commissioners are hereby vested with full
power and authority 10 lIquldate the affairs
Of said company, with full power 10 act
under the terms OF section thirty $50 OF
Act 367 OF 1914.
Article X.-The appearers hereby declare
that they have subscribed TO the following
number Of shares Of the capital stock OF
this corporation, tO-wit:
Charles F. Hardie, l22S Arabella Street,
New Orleans, Louisiana, ten shares; Peter
J. StOuse, 5S2 Broadway Street, New Orleans,
Louisiana, twenty-five shares; Edgar NJ. Rea,
III Esplanade Avenue, New Orleans, Louis
lana, three shares; Edgar NJ. Rea, trustee,
III Esplanade Ave, New Orleans, Louisiana,
slxty-twO shares.
the city OF New Orleans. on the day, month
and year, first above written, in the pres
ence of ST. Clair Adams and Arthur z.
Portas, competent witnesses, who have signed
hants and me, notary after due reading of
the whole.
Original signed: E. NJ. Rea, shares
J; F. Stouse, Is shares: c. F. Hardie. 10
shares; +. VI. Rea, Trustee, o. shares.
Witnesses: St. Clair Adams, Arthur P
Portas.
FRANCIS p. BURNS, Notary Public. |
|, the undersigned, recorder of mortgages,
in and for the Parish of Orleans State OF
Louisiana, do hereby certify that the above
and foregoing Act OF Incorporation of the |
Mercantile Realty Company, incorporated, |
was this day recorded in my office, in book |
200, folio -
New Orleans, La, April 6, 1917
lSigned) EMILE J. LEONARD, D. X.
A true copy. |
FRANCIS P. BURNS, Notary Public. |
AprIl Il 70 d NAV / Id Il