The herald., 1918-05-09
CHARTER

bind. form and constitute themselves. rs
well a. such other persons as may here
after Join or become a~>ociatcd with them
into an association aud body polite in
law. for the objects aud purposes. and
under the agreements and >tipulutiOu>
hereinafter set forth, tO-wit.
tn" name and title of this corporation
shall be Wisdom Realty 60. Inc" aud
under that name IL shall have ana enjoy
all TIA" rights. privileges and advantages
conferred 10y TIA" stat" of Louisiana on
corporations in general. and shall exist
for Il period of ninety nine years. unless
otherwise dissolved. beginning from date
of this act of incorporation. II shall have
power and authority to sue and be- sued.
to buy and sell, hold. OWN. lease. moFtEI-,
and hypothccate and pledge property. real.
personal and mixed: to name. elect and
appoint managers. directors and clerks
and other employees to properly conduct
It's corporate business. and to make by
laws, rules and regulations as may hc
found necessary or desirable for the man
agemcnt of III" corporation. aud shall do
everything TO correctly carry out its Oh
jectS aud purposes.
Article H.-Thp domfcilr of this corpor-
alton il hereby declared to hc thee City of
New Orleans, State of Louisiana. All ci-
tatiOnS and other legal process shall be
served upon the president. aud in his alb
Sence on the vice president. and in the ali
Srnc" of both of them. upon the secretary
treasurer of the corporation.
Afltcl" lll.-Ihe objects ana purposes
Tor which this corporation i organized.
and the business to bc conducted by il.
are declared to he. to buy. sell or other
wise acquire and alternate. real estate and
lands. TO lease, release real estate and
lands, to mortgage and hNpOthecate the
same. and to do Il general real estate and
land business, and to do any and all such
acts and things as may or shall be neccS-
SarN and proper to carry out said objects
and purpOSeX
Article IV.-The capital stock of this
corporation is hereby fixed at twenty five
thousand dollars t$2l.O0O.OOl. divided into
and represented by 80 shares mt the par
value of $4,000 per share. with the privil
ege of increasing same to fifty thousand
dollars. And this corporation shall he II
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 he paid for in cash. or its
equivalent in property. ~ the Board Of
Directors shall see tit and proper. All
shares shall be full paid and nOn-aSSeSS-
able. No stakeholder shall have the right
to sell, or otherwise dispose of his stock
III TINS corporation without first offering
same to this corporation and to the indf
vidual member of this corporation. at
the book value thereof. and this corpora
ton is authorized to purchase said stock
at said book value for the benefit of the
other stockholders of the corporation.
Should the corporation decline to purchase
said stock the shareholder shall have the
llEHl VI oplloH TO OHtF Silu STOCK Tor
sale to any other person or persons, firm
or corporation.
Article V.-All the corporate powers of
this corporation shall he vested i'm and the
management and control of its business
and affairs conducted by Il Board of hi
rectOrS composed of not less than three
stockholders. Said Directors shall be elect
ed by ballot mt a general meeting of the
stockholders to be held on the 9Th day of
May 1918 and annually thereafter on the
hrst Tuesday III May, provided same is
not Il 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
be 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 1919. or
until their Successors shall have been
elected and qualified any failure to elect
officers or directors shall not be cOn>id-
cred as a forfeiture of this charter. ANY
vacancy occurring in the board of direc-
tors shall be filled by the remaining di-
rectorS for the uneNpired term. \ ma
ority of the stockholders at Il meeting
shall constitute a quorum for the trans
action of business.
Said Board of Directors shall. at its first
meeting after its election elect out of the
members n president. vice-prpSidpnt and
- ''A = h"AA CIV bdl Nhdll III =
the pOWer to appoint and dismiss such
officers, agents. clerks and employees rs
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 mt 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 OF sam to and
from individuals, firms and corporations
for such terms. and on such conditions
as they may deem advisable.
Article Vino stakeholder 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 n stakeholder to any IL
ability beyond the amount of his unpaid
stock, nor shall any infOTmality or irreg-
ularity. in organization ever have the eff
feet or rendering any stakeholder liable
as a partner.
Article VII.-At the expiration of this
charter or the earlier dissolution of this
corporation for any cause, its affairs shall
be hquidated by one or more liduidators.
to be elected by the stockholders. all of
whom shall hold stock in said company.
and the said commissioner are hereby
vested with full power and authority to
'hA ~ hhdllN vi Sdl1 fOmIHnN IN
accordance with terms of Section go of
Act 267 of 1914.
Article NIlI.-The appearers hereby
declare that they have subscribed to the
number or shares of capital stock set op-
poSlte their names. and the signatures
thereto shall constitute their original sub
Scrlption to the capital stock of said cor
pOratiOn.
Thus done and passed in my ~notarial
ONCE IN the City of New Orleans. the day.
month and year first above written. i'm the
presence of Herbert W. Kaiser and Never
). Dreifus, competent witnesses who have
signed these presents with said anpearers
and me, Notary, after due reading of the
whole. INV
Mortimer ". Wisdom. 1873 Calhoun ST
~ shares, S12. 10000; Martin II. Manion,
iiuo calhoun St. one share. one hundred
collars; Ernest T. George. 1877 Calhoun
ST. one share, one hundred dollars; Frank
l.. Levy, 1924 Seventh st. one share. one
hundred dollars: II. +. Foster. 2lO Hiber-
ma Bldg. one share. one hundred dollars.
Witnesses: Meyer S. Dreifus. ii. W.
Kaiser. "
MARTIN H.. MANION, Not. Pub.
L, the undersigned. Recorder of Mort
sages' IN and for the Parish of Orleans.
state OF Louisiana. do hereby certify that
the above and foregoing act of incOrpOra-
tion OF Wisdom Realty Company. Inc. was
TINS day duly recorded in my Office in
book 1920. folio -
New Orleans. May LIST. 1915.
'Signed) EMILE j. LEONARD, ID. X.
A true copy.
MARTIN III. NANION. Not. Pub.