The herald. [volume] (New Orleans, La.) 1905-1953, 1918-10-17
CHARTER

ercised by Board of Directors composed Of
| Three 90 stockholders, who shall be elect
| ed annually on the First Thursday in Sep
TENDER OF each year. beginning with the year
/ 1912 a majority Of said Board shall con-
| sttute a quorum for the transaction Of any
| and all business. At all elections each stock
holder shall be entitled TO one vote for each
| share OF stock held by him. and a majority Of
votes cast shall elect. failure to eec,
directors at a regular meeting shall not dis
/ solve the corporation but the directors then
/ in office will continue 10 act until
| their successors are elected and Quail.
/ fled. Notice OF the time OF holding any and
/ all meetings shall be given by the Secretary
I 70 each stakeholder. such notice 70 be sent
I by mail, five days before such meeting. and
/ directed - each stakeholder a. his last
| known address. Immediately upon being
! elected the directors shall elect from among
/ ,he- own number a President, Nice-Presider.
/ and Treasurer, and Secretary. The said
/ Board shall also have full power and au-
! dent or some other duly authorized agent o-
/ agents; 10 execute mortgages and issue
/ notes, bonds or other obligations. and gen.
orally to do all the things necessary for the
proper carrying on of the business Of the
SAID corporation; also TO issue and de-
| liver full paid shares of stock and bonds and
other obligations of the said corporation in
| payment Of the money borrowed or money.
| labor services, property or rights actually
| received by the said corporation as herein
L
Directors shall be filled by the remaining
| members of the Board. Until the next cleo
| ton to be held under this charter or until
| their duly qualified successors are elected
and installed, the Board of Directors shall be
! composed of Theo. o. Hotard who shall be
President Walter P. Vilfere. who shall be
Vice President, and Treasurer; Louise Lee
Bon, who shall be Secretary.
ARTICLE NI-The capital stock may be
| increased diminished upon complying with
formalities imposed by law.
ARTICLE Nll-Whenever this corporation
| shall be dissolved, either by limitation or
from any other cause, its affairs shall be
liquidated by a committee of three stock
holders appointed at a general meeting Of
the stockholders convened for that purpose
and said committee shall have full power to
perform all acts necessary for the purpose
of liquidation.
ARTICLE VIII.-No stakeholder of this
corporation shall sell or dispose of his stock
without first offering the same for sale in
writing to the other stockholders through its
Board OF Directors; any number of which
stockholders who desire to purchase said
stock shall have the privilege Of buying it in
proportion to the shares owned by them at
the price bona fide offered therefor in writ
ing by an outsider and submitted to the
Board of Directors, and if no price is Of
tcred by an outsider, then at the book value
OF said stock within thirty days from the
date OF such offer, the stockholders offer
ing said stock may dispose of the same to any
person. WnatsOeVeT. Transfers of stock shall
not be recognized unless such stock is trans
terred on the books of the Company by the
owner or by his duly authorized agent.
ARTICLE IX.-No stakeholder Of this cor.
poration shall ever be held liable or respon-
sible for the contracts or faults of this cor.
poration in any further sum than the nm
paid balance due by him, if any. on the
stock subscribed for by him; nor shall any
mere lnformality in the organization have
the effect OF rendering this charter null, or
OF exposing any stockholder, to any liability
beyond the unpaid balance, If any, due by
him, for stock subscribed for BY him
nus done and passed in my office. in the
City of New Orleans, aforesaid. the day
month and year first above written, in the
presence OF J. Lehman, and L. Fred. Andry,
both witnesses of lawful age and residing
IN this City, who sign hereunto, together
with said parties, and me, Notary, after due
reading of the whole
Coriginal signed), Theo. o. Hotard, New
orleans n La, Go shares; Walter P. Villere,
New orleans, La, 50 shares; Louise NJ. LIE.
bon, New Orleans, La, share. Witnesses:
J. lehman, L. Fred. Andry.
ROBERT E. OiCONNOR, Notary Public.
l, the undersigned Recorder of Mortgages
IN and for the Parish of Orleans, State OF
Louisiana, do hereby certify that the above
ana foregoing Act of Incorporation of the
Algiers Construction Co.. Inc, was this day
guy recorded in my office, in Book 1922, Folio
(Signed( EMILE J. LEONARD, Dy. r.
Il certify that the above is true copy Of
the original Act of Incorporation of the AL
gers construction Co., Inc and the CERT
ficate of the Recorder of Mortgages on file
ana OF record in my notarial archives (Sign.
edl ROBERT E. O'CONNOR, Not. Pub.
sept. 1875. Oct. 3-l0-17-24.