The herald., 1918-06-06
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 SupulatiOn>
hereinafter set forth, tO-wit:
The name and title of this corporation
shall be Wisdom Realty co. Inc and
under that name il shall have and enjoy
all the rights, privileges and advantages
conferred by the State 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, mortgage
and hypOthecate 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
agement of the corporation, and shall do
everything to correctly carry out its OBJ
jectS and purposes.
Article 1.-THE dOmiciIe of this cOrpOr-
alton is hereby declared to be the City of
New Orleans, State Of Louisiana. All ci
tatiOns and other legal process shall he
served upon the president, and in his alb
sence on the yice-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 it,
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 (S25OOO.OO), 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 int 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
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 n Board of Iii
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 18th 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
be determined by said Board of Directors
| Ten days written notice directed to the
last known address of every stockhOlder
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 a 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 hav,
| 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 OF
| 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 dispOs,
of real estate, to execute mortgages, issue
notes, bonds and other evidences of debt
to borrow and lend money on same to anC
from individuals, firms and corporations
forms
| as they may deem advisable.
Article Vino stakeholder shall ever b,
held liable or responsible for the contracts
! or faults of said corporation in any fur
ther sum than the unpaid balance due OF
the shares of stock owned by him, no.
shall any mere inf0rmality in organization
have the effect of rendering this charte
j null, or exposing a stakeholder to any II
! ability beyond the amount of his unpaiC
stock. nor shall any informally or irreg
ularity in organization ever have the ef
feet of rendering any stakeholder liabl
as n partner.
Article VII.-At the expiration OF thi
charter or the earlier dissolution of thi
corporation for any cause, its affairs shall
be liquidated by one or more liquidators
to be elected by the stockholders, all o
whom shall hold stock in said company
and the said commissioners are hereb
vested with full power and authority I
liquidate the affairs of said company 4
accordance with terms of Section 23O o
Act 267 Of 1914.
Article VIII.-The appearers hereb
declare that they have subscribed TO tn
number Of shares of capital stock set OF
posite their names, and the signature
thereto shall constitute their original sub
scriptiOn to the capital stock of said COZ
pOratiOn.
Thus done and passed in my notaria
office in the City of New Orleans. the day
month and year first above written. in III
presence of Herbert w. Kaiser and Meye
s. Dreifus, competent witnesses who hay
signed these presents with said appearer
= and me, Notary, after due reading of tn
whole.
Mortimer ". Wisdom. 1913 Calhoun 81
121 shares, S12. 10000; Martin III. Manor
1908 Calhoun St.. one share, one hundre
dollars; Ernest T. George, 1877 Calhou
St, one share, one hundred dollars: Fran
l.. Levy, 1924 Seventh St. one share OF
hundred dollars: III. +. Foster. 21O Hibe
MIA Bldg, one share, one hundred dollar
: Witnesses: Meyer S. Dreifus, ii. v
e Kaiser.
? MARTIN II. MANION, Not. Pul
r /, the undersigned. Recorder of Nor
2 cages, in and for, the Parish OF Orlean
State of Louisiana, do hereby certify tn;
D the above and foregoing act of incOrpOri
: ton of Wisdom Realty Company, Inc, wa
$ this day duly recorded In my Office
y book 1920, folio -.
0 New Orleans. MAY LIST, 1918
E (Signed) EMILE J. LEONARD, ID. ]
J. MARTIN Fl. MANIoN, Not. Pul
o May 9-16-23-30 Jun 6-13