The herald. [volume] (New Orleans, La.) 1905-1953, 1918-06-13
CHARTER

/ after 1Oln or become associated with them
! into AN association and body polite IN
/ law, for the objects and purposes, and
under the agreements and StipulatiOnS
hereinafter set forth, to-wit:
The name and title Of this corporation
/ shall Ice Wisdom Realty Co Iuc" and
under that name il shall have ana enjoy
/ all the rights, privileges and advantages
conferred by the State of Louisiana on
corporations in general. and shall exist
] for a 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, 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
/ found necessary or desirable for the man
agemcnt 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 Ci-
/ tatiOnS and other Illegal process shall be
served upon the president, and in his alb
Sence on the vice-president, and in the alb
Sence 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
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 1925. O0000), divided into
and represented by go shares at the par
value of $4,000 per share, with the privil
ege 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
Directors shall see fit 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
| in this corporation without first Offering
! same to this corporation and to the indi-
vidual members 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
] right of option to offer said stock for
sale to any other person or persons, firm
FOR 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 a Board of Di-
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 eth day OF
May 1918 and annually thereafter on the
/ first 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 to one vote for every share of stock
4 nNA nnh hN~ him oil hal hn h.lH
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 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
4 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 n president, vice-president and
secretary treasurer. Said board shall have
the power to appoint and dismiss such
! officers. agents, clerks and employees as
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 estnte, to execute mortgages. issue
notes, bonds and other evidences of debt.
to borrow and lend money on same to and
from individuals, firms and corporations
for such terms, and on such conditions
as they may deem advisable.
Article Vino stakeholder shall ever he
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 informally in organization
have the effect of rendering this charter
null. or exposing stakeholder to any Ii
ability beyond the amount of his unpaid
stock, nor shall any infOrmality or irreg-
ularity in organization ever have the eff
feet Of 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 iQuidated 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 tC
accordance with terms of Section 230 OF
Act 267 of 1914
Article vIII.-The appearers hereby
declare that they have subscribed to tn,
VI suhEts VI 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 notaria
office in the City of New Orleans the day
month and year first above written. in tn,
presence of Herbert w. Kaiser and Meyer
s. Dreifus, competent witnesses who hav,
signed these presents with said appeareri
and me, Notary, after due reading OF tn,
whole.
Mortimer N. Wisdom. 1873 Calhoun st.
121 shares, S12.1O0OO; Martin ii. ManiOn
1I05 Calhoun ST.. one share, one hundred
dollars; Ernest T. George, 1877 Calhoun
St., one share, one hundred dollars: Franl
! l.. Levy, 1924 Seventh ST., one share. on
hundred dollars: ii. F. Foster 210 Hiber
mia Bldg, one share, one hundred dollars
Witnesses: Meyer s. Dreifus, H. 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 fl
book 1922. folio -.
D New Orleans. May 1st 1918
E (Signed) EMILE j. LEONARD. ID. r
!, MARTIN II. MANIoN, Not. Pub
D May Ole 80 Jun 6-13