The herald., 1918-12-12

Dec. 5-l2,l9-26; Jan. 30.
CHARTER OF NEW ORLEANS INDUS
TRIAL CANAL LAND COMPANY,
INC.
United States Of America, State of Louis
lana, Parish OF Orleans, City of New Orleans.
lie II known, that this 18th day OF the
month OF November, in the year of our Lord
nineteen hundred and eighteen and of the
independence OF the United States of America
the one hundred and forty second, before me,
Francis ID. Charbonnet, Jr., Notary Public,
duly commissioned and qualified in and for
this city and parish. therein residing and in
the presence OF the witnesses hereinafter
named and undersigned, personally came and
appeared; the several persons whose names
are hereunto subscribed, who severally de-
clared that, availing themselves of the laws
Of this state, relative to the formation of cor
porations, they have covenanted and agreed
and by these presents do cOvennt and agree
and bind themselves, as well as such other
persons who may later become associated
with@NSem, to form a corporation and body
polite IN law, for the objects and purposes
and under the agreements and stipulations
following, to-wit:
ARTICLE I.-That the name and title OF
this corporation shall be New Orleans Indus
! trial Canal Land Company, Inc, and by and
under such name it shall have and enjoy all
| the rights, privileges, powers, advantages and
immunities allowed or granted TO corpora
tons by any existing or future law OF this
state; that by and under such name it shall
have power and authority to sue and be sued
| and TO make and enter into all lawful con
| tracts that it shall see fit; to make and use
! a corporate seal and the same to break, alter
and amend at pleasure; to employ and dis
| charge all managers, agents OF other EN-
| ployees as may be necessary for the proper
| conducting of the corporations affairs and tt
| fix 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 SAINT
to mortgage otherwise hypothecate. to ex
| ercise, generally, all powers and rights usu
| ally exercised by corporations and such othe
| rights may be prescribed by the board o.
/ directors thereof.
| ARTICLE 1.-THE objects and purpose
/ for which this corporal alton Is formed and tn,
nature of the business to be carried on b!
| it are hereby declared to be: To buy, sci
| and deal in all kinds of real, personal o
| mixed property, within the State of Louis
| lana, the United States of America, or else
| where; to purchase, lease, exchange or other
wise acquire any and all property, moveabl
or immoveable, and the same to sell, lease
| mortgage, hypothecate. donate, rent ex
| change otherwise ALLEVIATE or cucumber
| to exploit, reclaim, improve real estate an
| to lay the same out in townsites, towns
cities, villages, municipalities other 20
litioH subdivisions, and in connection there
with to sell the said real estate as tow
lots, suburban sites, or farms; TO make an
construct all necessary or convenient i'm
provements incidental thereto, includin
bitches, canals, streets, roads, bapquette:
| sidewalks and alleys; to build and erect, b
itself or through others, residences, dwelling
or other structures and in connection there
with to operate any and all mills or factorie
for the purpose of manufacturing buildin
material, etc., to buy and sell and deal j
personal property, stocks, bonds, mortgage
or other securities; to buy, sell and deal il
as cell as vote in airy manner or proceeding
the stock in other corporations and the II
terest in any partnership or firm; to act a
agent either through itself or through IL
sub agents, for any person, firm or eorpor;
! ton, to do or perform any of the objects
purposes above mentioned, and generally !,
do each and every act and thing and to Ell
gage in any all business incidental, col
nected with growing out of the aboy
, expressed objects and purposes, the same {
il the same was set forth herein.
ARTICLE III.-The capital stock of tn
corporation is hereby fixed at the sum
Z Ninety Thousand and no 400 {s90,OO0.0O) Do
: lars, divided into and represented by mir
|, hundred 5000 shares Of the par value of OF
/ hundred $4,000 dollars each; all of sal
, stock shall be paid for in cash, or in re-
) estate actually received by the corporation
There is annexed hereto, and to be res
, into this charter, accurate detailed d.
scription of the property to be transferred
this said corporation by F. d. Charbonne
! Sr., for the purchase price, as appraised
/ the board of directors of said company,
: $4,000, in part payment of which purcha:
t price F. ID. Charbonnet, Sr., is to recei,
the amount of stock subscribed by him. tt
stock of this corporation shall be full pal
: and worcestershire, subject only to the u
i ment payments. All stock of this corpor
! ton, provided for herein or that which ma
/ hereafter be issued, shall be valid only
. signed by the president or vice presidei
and countersigned by the secretary.
ARTICLE IV.-The domicile of this corp
ration shall be in the city of New Orlean
Parish of Orleans, State of Louisiana. ar
, it shall enjoy corporate succession for
period OF ninety-nine years from this date.
, ARTICLE Vail legal process shall
, served on the President. or in his absenc
, on the Vice-President, or any other offic
: Of the corporation, or as may be prescribed
ARTICLE VI.-All corporate powers of tn
, corporatio shall be vested in and exercise
|, by a board of not less than three nor mo
than seven directors. Until otherwise pr
vided by the board of directors, the sa
jority of whom shall constitute a MAORI
for the transaction of all business. Sa
board shall be elected annually on the Sc
ond legal Monday in January. The fir
, election under this charter shall be he
, in 1920. until which date the following sha
constitute the first board of directors, (
wits Charles F. Borah, Ferdinand Katz, .
H. Johness, who shall hold their office un,
| their successors have been elected and ha-
t qualified. Any vacancy in the board of dire
tors by death, resignation or otherwise shs
be filled by the remaining board. The sa
board of directors shall elect from the
: number a president, a vice-president al
secretary treasurer and such election shs
: re held at the first meeting of said boa
, GLOWING their own election. Until the
uccessors have been 50 elected in 1920, Il
aid Ferdinand Katz shall be president Il
aid A. H. Johness shall be vice esiden
1 md Charles F. Borah shall be secretar
reasurer. All elections shall be by ball
, and majority of the votes cast shall |
necessary to elect or to decide any que
ton; each stakeholder shall be entitled