The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-23
CHARTER

w,lI aS such other persons as may here
after join or become associated with then
INTO an association and body polite IN
law, for the objects and purposes. AND
under III" agreements and stipulation,
hereinafter st forth, tO-wit:
tn" name and title of this CORPORATION
shan hc Wisdom Realty 60. Inc" and
under That name II shall have and cuiov
all the rights. privileges and advantage,
conferred by the Stat" OF Louisiana on
corporations in general md shall exist
for period of ninety mine years. unless
Othcrwi>" dissolved. beginning from date
of this act of incorporation. Ii shall have
power and authority 10 sue and be- sued
to buy and sell, hold, own, lease. mort gage
ana hyp0thccate 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 10 make nv
found necessary or desirable for the man
agemout of the corporation, and shall do
everything to correctly carry out its oh
JectS and purposes.
Article 1.-THE domicilc Of this corpor-
alton is hereby declared TO he the City Of
New Orleans. state of Louisiana. All ii
tatlonS and other legal process shall T."
served upon the president, and in his alb
Sehce on the vice president. and in the ali
Sehc" OF both of them, upon the secretary
treasurer of the corporation.
! Article III.-The objects and purposes
| for which this CORPORATION is organized
and the business to be conducted by il
are declared to be. to buy, sell or other
wise acquire and ALLEVIATE. real estate and
lands, TO lease, Release real estate and
/ landS, TO mortgage and hypOtheCate the
same, and to do a general real estate and
! land business, and TO do any and all such
acts and things as may or shall be neceS-
SarS ana proper TO carry out said objects
and purposes.
Article IV.-The capital stock of this
corporation is hereby fixed at twenty five
thousand dollars (S25.00OOO), divided into
3 rhn m Ah IN~
value of $4,000 per share. with the priVil-
ege of increasing same to kfty 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, a. the Board of
Directors shall see tit and propcr Al
shares shall be full paid and nOn-asSeSS,
able. No stakeholder shall have the right
20 sell or otherwise dispose of his stock
In this corporation without first Offering
same 10 this corporation and to the indi-
Nldual members of this corporation AT
the book value thereof, and this corpora
uon Is authorized to purchase said stock
AZ 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
right of option to Off,y said stock for
sale to any other person or persons firm
or corporation.
Article N.-All the corporate powers of
this corporation shall be vested in and tho
management and control of its business
and affairs conducted by n Board of hi
rectOrS composed of not less than three
stockholders. said Directors shall be elect
ed by ballot at a general meeting of the
stockholders to be held on the 9Th day of
May 1918 and annually thereafter on the
hrSt Tuesday in May, provided same is
not a legal holiday. in which event on the
next banking day thereafter. Every stock
holder shall be entitled in person or by
proxy 10 one vote for every share of stock
owned by him. All elections shall be held
under such rules and regulations as NAV
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 he coDsid- |
cred aS a forfeiture OF this charter ANY
vacancy occurring in the board of dircc- |
tors shall be filled by the remaining di-
rectorS for the uneXpired term. \ ma
Ority of the stockholders mt a meeting |
shall constitute Il quorum for the trans
action of business.
Said Board of Directors shall at its first |
meeting after its election elect ont of the |
members a president, vice-preSident and |
secretary treasurer. Said board shall have
the power to appoint and dismiss such |
officers. agents, clerks and employees rs |
Said Board of Directors is vested with
the power and authority to mortgage or |
pledge the property real. personal and |
mixed of the corporation 40 they may |
deem mt and proper; to purchase, hold. |
own, mortgage. pledge. lease and dispose
or real estate. to execute mortgages. issue |
notes, bonds and other evidences of debit
TO borrow and lend money on same TO and |
rom individuals, firms and corporations
ior such terms and on such conditions
as they may deem advisable
Article Vino stock holder shall eyer lac
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 expos ing a stakeholder to aDy H.
ability beyond the amount Of his unpaid
sIoch, nor snail any informally or irreg-
ularity in organization ever have the ef-
feet OF rendering any stakeholder liable
ms a partner.
Article vII.-At the expiration of this
charter or the earlier dissolution OF this
for any cause its affairs shall
be Hquidated by one or more Iiouidators
to be elected by the stockholders All of |
whom shall hold stock in said company.
vested with full power and authority 70
liduidate the affairs of said company in |
accordancn with terms of Section 23O OF |
Act 267 of 1914.
declare that they have subscribed to tho
number OF shares of capital stock set on
poslte their names, and the signatures !
thereto shall constitute their original sinh
scrlption to the capital stock Of said cor
Thus done and passed in nv notariaI
DHlce In the City of New Orleans the dav
month and year first above written I'm tbc
presence OF Herbert W. Kaiser and Never
s. Dreifus, competent witnesses who have
signed these presents with said apDearers
ana me, Notary, after due reading of the
Mortimer " Wisdom. 1913 Calhoun 81
~ shares, Sl2.1OO.OO; Martin II. ManiOn
40 calhoun St. one share, one hundred
lollars; Ernest T. George. 1877 Calhoun
81, one share, one hundred dollars; Frank
i. Levy, 1924 Seventh St. one share. one
hundred dollars: III. +. Foster. 21O Hiber-
ma Bldg., one share, one hundred dollars /
- witnesses: Meyer S. Dreifus. II. ".
Kaiser.
MARTIN II. MANION. Not Pub
L, the undersigned. Recorder of Mort /
cages, in and for the Parish OF Orleans
state OF Louisiana. do hereby certify that
ne above and foregoing act of incOrpOra-
non OF Wisdom Realty Company. Inc, was
ms day duly recorded in my office in
New Orleans. May LIST, 1918
,Signed) EMILE J. LEONARD, d. II.
y true COPY.
MtRTIN II. MANION, Not Pub.
May 9-18-23-30 Jun 6-13