The herald., 1918-12-05
CHARTER OF NEW ORLEANS INDUs-
TRIAL CANAL LAND COMPANY,
INC

INC.
United States OF America, State OF Louis
lana, farIsn OF Orleans, IIIy OF New Orleans
be II known, that on TINS z1th DAY OF Inc
month OF November, IN the year OF our Lord
nIHrteen hundred ana eIgnIeen and OF the
independence OF the InIteu States OF Amerlra
,ne one hundred and torty-sscond, before me-
rrancls ~. Inarbonnet, yr., Notary PuDnc
duiy commissioned and quaiIfIed IN and to-
,iI.s city and parish. therein residing and tn
sIe presence the witnesses hereinafter
named and undersigned, personally came and
appeared; the several persons whose names
aIe nereunto subscribed, VINO severally de-
clared that, awaiting themselves OF the laws
OG tnls state, relative 10 the formation OF
p0rauonS, they have coyenanted and agreed
and by these presents do covennt and agree
and Dlnd themselves, as well as such oIner
persons who may later become associated
with them, to form a corporation and body
ponuc IN law, Tor the objects and purposes
and under the agreements and stlpulauons
following, tO-wit:
AKrICLE That the name and title OF
thls corporation shall be New Orleans Indus
trIaI lanai Land Company, Inc, and by and
under Sucn name II snail nave ana enjoy AL
me rights, privileges, powers, advantages ana
ImmunIties allowed or granted to corpora
uons by any existing future law OF this
slate; mat Oy and under Sucn name II snail
nave power and authority to. sue and be sued
and to make and enter into all lawful con
corporate seal and the same TO break, alter
and amend pleasure; to employ and dis
charge ali managers, agents or other EN-
plOyees as may De necessary tor the proper
conducting OF the corporations affairs and to
their compensation; TO purchase or other
wise acquire, and to sell, or otherwise allie
nate, any or all the property of said corpora
ton, real, personal or mixed, and the same
10 mortgage or otherwise hypothecate. to
ercise, generally, all powers and rights usu-
hN~- Oh, h.
rights as may be prescribed by the board OF
directors thereof.
ARTICLE 1.-The objects and purposes
Tor which this corporation is formed and the
nature of the business to be carried on by
II are hereby declared to be: 10 buy, sell
and deal in all kinds OF real, personal or
mixed property, within the State of Louis
lana, the United States OF America, or else
where; 10 purchase, lease, exchange or other
wise acquire any and all property, movable
or immoveable, and the same to sell, lease,
mortgage, hypothecate. donate, rent, ex-
change otherwise ALLEVIATE or cucumber;
20 exploit, reclaim, improve real estate and
10 lay the same out in townsites, towns,
cities, villages, municipalities other po-
Iitical subdivisions, and in connection there
with to sell the said real estate as town
lots, suburban sites, or farms; to make and
construct all necessary convenient i'm
Provements incidental thereto, including
bitches, canals, streets, roads, banquettes,
itself or through others, residences, dwellings
or other structures and in connection there
with to operate any and all mills or factories
tor the purpose of manufacturing building
material, etc, to buy and sell and deal in
personal property, stocks, bonds, mortgages
or other securities; to buy, sell and deal in,
as well as vote in any manner or proceeding
the stock IN other corporations and the in
terest in any partnership or firm; to act as
agent. either through itself or through Ii,
Fh-anr t0r
tion, to do or perform any of the objects or
purposes above mentioned, and generally to
do each and every act and thing and to en-
gage IN any or all business Incidental, con-
nected with or growing out of the above
expressed objects and purposes, the same as
II the same was set forth herein.
ARTICLE III.-The capital stock of this
corporation is hereby fixed at the sum of
Ninety Thousand and no 100 (se0OOOOO) Dol
lars, divided into and represented by nine
hundred (9OO) shares of the par value of one
hundred $4,000 dollars each; all of said
stock shall be paid for in cash, or in real
estate actually received by the corporation
There is annexed hereto, and to be read
into this charter, an accurate detailed de-
scription OF the property to be transferred TO
this said corporation by F. ID. Charbonnet,
Sr., for the purchase price, as appraised by
the board of directors of said company, of
$4,000, in part payment of which purchase
price F. ID. Charbonnet, ST., is to receive
the amount of stock subscribed by him. The
stock OF this corporation shall be full paid
and worcestershire, subject only to the I'M
paid balance due thereon, if sold on install.
ment payments. All stock of this corpora
ton, provided for herein or that which may
hereafter be issued, shall be valid only il
ssgned by the president or vice-president
and countersigned by the secretary.
ARTICLE IV.-The domicile of this corpo
ration shall be in the city of New Orleans,
Parish OF Orleans, State OF Louisiana and
II shall enjoy corporate succession for a
period OF ninety nine years from this date.
ARTICLE YAH legal process shall be
served on the President. or in his absence.
On the Nice-President, or any other officer
1f the corporation, or as may be prescribed by
law.
ARTICLE VI.-All corporate powers of this
corporation shall be vested in and exercised
y board Of not less than three nor more
nan seven directors Until otherwise pro-
board shall consist of three members, a ma.
.orty OF whom shall constitute a majority
Tor the transaction of all business Said
board shall be elected annually on the sec
' 'IH legal Monday in January. The first
eiectlon under this charter shall be held
n 1870, until which date the following shall
Constitute the first board of directors to-
Mt: Charles +. Borah, Ferdinand Katz, A.
!. Johness, who shall hold their office until
heir SUCCESSORS have been elected and have
qualified Any vacancy in the board of direc-
ors by death, resignation or otherwise shall
De filled by the remaining board. The said
board of directors shall elect from their
number a president a vice -president and
secretary treasurer and such election shall |
be held at the first meeting of said board
ollowing their own election Until their
successors haze been so elected in 1920. the |
'aid Ferdinand Katz shall be president. the |
laid a. II. Johness shall be vice president, |
Ind Charles F. Borah shall be secretary
treasurer. All elections shall be by ballot |
Ind majority of the votes cast shalls be |
necessary. to elect or to decide any ques- |
ion; each stakeholder shall be entitled to |
me vote for each share Of stock stand;ra