The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-30
CHARTER

after join or become associated with them
into an association and body polite in
law. for the objects and purposes, and
under the agreements and StiPulatiOus
hereinafter set forth. tO-wit:
The name and title of this corporation
shall he Wisdom Realty CO. Inc and
under that name it shall have and enjoy
4 all the rights. priv ilDgcS and advantages
corporations in general. and shall exist
for q period of ninety nine years. unless
otherwise dissolved. beginning from date
] OF this act OF incorporation. II shall hav"
power and authority to sue and Ice sued.
to buy and sell. hold, own, lease. mortgage
and hypOthCcate and pledge property. real
personal and mixed; to name, elect and
appoint managers, directors and clerks
and other employees TO properly conduct
its corporate business. and to make by
| laws. rules and regulations as may be
agemcnt of the corporation, and shall do
everything to correctly carry out its oh
/ jectS aud purposes.
Article 1.-THE domicilc of this corpOr-
alton is hereby declared to be the City of
New Orleans. State Of Louisiana. All ii
tatiOnS and other legal process shall be
served upon the president and in his ali
Seuce on the vice-prcSidcnt. and in the alb
Scnce of both of them. upon the secretary
treasurer of the corporation.
Article lII.-The objects and purposes
for which this corporation is organized.
and the business to- be conducted by It.
wise acquire and ALLEVIATE real estate and
lands, to lease, release real estate and
lands, to mortgage and hypothecate the
same and to do general real estate and
land business, and to do any and all such
acts and things as may or shall be neceS-
sary and proper to carry out said objects
and purposes.
Article IV-The capital stock of this
corporation is hereby fixed at twenty-five
thousand dollars ($2jOOO.OO). divided into
and represented by 80 shares at the par
value of $4,000 per share. with the privil-
egc of increasing same to fifty thousand
dollars. And this corporation shall be a
going concern when twelve thousand five
hundred dollars of the capital stock shall
have been subscribed and paid for. Said
stock shall be represented by certificates
of stock, to be paid for in cash. or its
equivalent in property, aS the Board of
I Directors shall see fit and propcr All
shares shall be full paid and nOn-aSseSS-
| able. No stakeholder shall have the right
/ to sell, or otherwise dispose of his stock
/ in this corporation without first Offering
same to this corporation and to the indi-
vidual members of this corporation, at
I the book value thereof. and this CORPORA
ton Is authorized to purchase said stock
other stockholders of the corporation
Should the corporation decline to purchase
said stock the shareholder shall have the
] right of option to offer said stock for
sale to any other person or persons, firm
or corporation.
Article V.-All the corporate powers of
! this corporation shall be vested in and the
management and control of its business
and affairs conducted by Board of hi
rectOrs composed of not less than three
stockholders. Said Directors shall be elect
ed by ballot at general meeting of the
stockholders to be held on the 9Th day of
May 1918 and annually thereafter on the
first Tuesday in May, provided same is
not legal holiday, in which event on the
next banking day thereafter. Every stock
holder shall be entitled in person or by
proxy TO one vote for every share of stock
owned by him. All elections shall be held
under such rules and regulations as may
he determined by said Board of Directors.
Ten days written notice directed to the
last known address of every stakeholder
shall be given of all elections.
The directors thus elected shall continue
in office until the 9th day of May 1912 or
until their successors shall have been
elected and qualified; any failure to elect
officers or directors shall not be cOnSid-
cred as forfeiture OF this charter ANY
vacancy occurring in the board of direc-
tors shall be filled by the remaining di-
rectOrs for the uneXpired term. A ma
Ority of the stockholders at meeting
/ shall constitute quorum for the trans
action of business.
Said Board of Directors shall. at its first
meeting after its election elect out of the
members president, vice president and
secretary treasurer. Said board shall have
the power to appoint and dismiss such
officers, agents, clerks and employees az
they may deem advisable, and to fix their
compensation.
Said Board of Directors is vested with
the power and authority to mortgage or
pledge the property. real, personal and
mixed of the corporation as they may
deem fit and proper; to purchase. hold.
own. mortgage, pledge. lease and dispose
of real estate, to execute mortgages. issue
notes, bonds and other evidences of debt
to borrow and lend money on same 10 and
from individuals firms and corporations
for such terms. and on such conditions
as they may deem advisable.
Article Vino StockhOlder shall ever be
held liable or responsible for the contracts
or faults of said corporation in any fur
Their sum than the unpaid balance due on
the shares of stock owned by him, nor
shall any mere infOrmality in organization
have the effect of rendering this charter
null. or exposing a stakeholder to any IL
ability beyond the amount of his unpaid
! stock, nor shall any infOrmality or irreg-
ularity in organization ever have the ef-
feet Of rendering any stakeholder liable
as partner.
Article VII.-At the expiration of this
charter or the earlier dissolution OF this
corporation for any cause, its affairs shall
| be liquidated by one or more liquidators
to be elected by the stockholders, all Of
whom shall hold stock in said company,
and the said commissioners are hereby
vested with full power and authority to
| liquidate the affairs of said company in
| accordance with terms of Section go OF
Act 267 of 3914.
Article VIII-Tbe appearers hereby
/ ueCldTe tHdI tney nave subscribed to the
number Of shares of capital stock set Op-
posite their names, and the signatures
! thereto shall constitute their original sub
scription to the capital stock of said cor
pOratiOn.
Thus done and passed in my notarial
| Office In the City of New Orleans. the day
month and year first above written in the
! presence of Herbert W. Kaiser and Meyer
! s. Dreifus, competent witnesses who have
signed these presents with said appearers
and me, Notary, after due reading of the
whole.
Mortimer n. Wisdom, 1873 Calhoun ST.
III shares, So 10000; Martin II. Manion
100 Calhoun St., one share one hundred
dollars; Ernest t. George, 1877 Calhoun
St, one share, one hundred dollars: Franz
Il. Levy, 1924 Seventh St. one share. on,
hundred dollars; ii. F. Foster. 21O Hiber
mia Bldg, one share, one hundred dollars
Witnesses: Meyer s. Dreifus, II. W
Kaiser.
MARTIN II. MANION. Not. Pub
i. the undersigned. Recorder of Mort
cages, In and for the Parish Of Orleans
state of Louisiana, do hereby certify tina
the above and foregoing act of incOrpora
ton of Wisdom Realty Company, Inc. wa,
this day duly recorded in my Office II
book 1920. folio -
New Orleans. May list, 1918
(Signed) EMILE J. LEONARD, D. r
MARTIN FL. MANIoN. Not. Pub
May 9-16-23-30 Jun 6-13