The herald. [volume] (New Orleans, La.) 1905-1953, 1918-05-16
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 stipulatiOnS /
hereinafter set forth, tO-wit:
The name and title of this corporation /
shall be Wisdom Realty co. Inc aud /
under that name ii shall have and 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. 1t 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 may be
found necessary or desirable for the man
agement of the corporation, and shall do
everything to correctly carry out its Oh
jeCtS and purposes.
Article 1.-The domicile 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 be
served upon the president, and in his alb
sence on the vice-president and i'll the alb
sence of both of them, upon the secretary
treasurer of the corporation.
Article IH.-The objects and purposes
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 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 (S25 OO0OO) 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
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 Board of Di-
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 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
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 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 a forfeiture of this charter Any
vacancy occurring in the board of direc-
tors shall be filed by the remaining di-
rectors for the unexpired term. A ma
ority of the stockholders at a 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, yice-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 estate, 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 be
halh liahl 10 neih 10 for ha annfr aftG
or faults of said corporation in any fur
ther sum than the unpaid balance due on
the shares of stock owned by him, nor
shall any mere infOrmality In organization
have the effect of rendering this charter
null. or exposing a 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 partner.
Article VII-At the expiration Of this
charter or the earlier dissolution of this
corporation for any cause, it's affairs shall
be liquidated 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 Il
liquidate the affairs Of said company in
, accordance with terms of Section go OF
Act 267 of 1914.
Article yIII.-The appearers hereby
, declare that they have subscribed to thu
number or shares OF capital stock set Op
pOslte their names, and the signature.
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
i month and year first above written, in tn
presence of Herbert w. Kaiser and Meye
i 8. Dreifus, competent witnesses who hav
signed these presents with said appearer
= and me, Notary, after due reading of tn
whole.
Mortimer Y. Wisdom. 1873 Calhoun st
121 shares, S12, 10000; Martin II. Manior
: 1908 Calhoun St., one share, one hundre
dollars; Ernest T. George, 1877 Calhoun
ST., one share, one hundred dollars: Fran
. l.. Levy, 1924 Seventh ST.. one share. on
II hundred dollars; ii. +. Foster. 210 Hiber
: mia Bldg, one share one hundred dollar,
Witnesses: Meyer S. Dreifus, II. "
2 Kaiser.
MARTIN III. MANION, Not Put
I, the undersigned. Recorder of Mort
e cages, in and for the Parish of Orleans
State of Louisiana, do hereby certify tina
0 the above and foregoing act of incOrpora
z ton of Wisdom Realty Company. Inc. wa
s this day duly recorded in my Office j
n book 1922, folio -.
o New Orleans. May LIST. 1913.
e (Signed) EMILE J. LEONARD, d. X
}; a true copy.
D. MAPTIN III NANJnN fyof Pub