The herald. [volume] (New Orleans, La.) 1905-1953, 1919-02-27

United States of America, State of Louis.
lana, Parish OF Orleans, City OF New Or
leans. BE 1t known, that on this 18th dav
OF the month Of January, in the year of our
Lord, one thousand nine hundred and nine
teen. and of the independece of the United
States OF America, the hundred and
forty third. Before me, William ]. Guste,
Notary Public, duly commisson and
qualified in and for the Parish OF Orleans,
State OF Louisiana, and in the presence of
the witnesses hereinafter named and un-
derslgned, personally came and appeared the
several persons whose names are hererluto
subscribed, all of full age who severally de
c!ared to me, Notary, that availing themselves
OF the laws of this State relative TO the or
ganlzatlon OF corporations, they have cove
nanted and agreed and by these presents do
covenant and agree and bind themselves
as well as all such other persons as NAV
hereafter become associated with them to
form corporation for the objects and pur-
poses and under the articles and stipula-
tons following, which they hereby adopt as
their charter, to-wt:
ARTICLE 1.-The name of this corpora ton
shall be Southern Development Company.
Inc, and under its corporate name, it shall
nave power and authority to have and en-
Joy corporate existence for a period of ninety
nine years from date hereof unless sooner
dissolved by liquidation or otherwise 1t
snail have power TO contract, to sue and be
sued, to make and use corporate seal and
10 after and break the same at pleasure; TO
acquire and convey as well as mortgage and
hypothecate under its corporate name. prop
erty real, personal and mixed, corporeal and
incorporeal; to borrow money and make and
Issue bonds and other evidences of indebted
ness, and If desired. to secure the same bv
| mortgage and otherwise; to buy and hold
stock IN other companies incident TO the
OBJECTS and purposes or the expansion of the
business interest of the corporation; TO
name, elect and appoint such managers
agents, directors he into
and convenience of said corporation NAV re.
qulre, and to make and establish as well as
alter and amend at pleasure such by laws.
rules and regulations for its proper govern
ment as may be deemed necessary and prop
er, and generally to do any and all things
incident TO or necessary and proper for the
interest of the business of the corporation
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Orleans,
IN the State of Louisiana and all citation
and other legal process shall be served upon
the President of the Corporation and in the
event of his absence upon the Secretary
Treasurer.
ARTICLE III-The objects and purposes
tor which this corporation is established and
the nature of the business to be carried on
by it are declared to be as follows: To
acquire by purchase or otherwise to build !:
erect, establish or construct upon: to culti
waite and develop, to lease, rent, mortgage,
pledge, sell and ALLEVIATE. to utilize, enioy
and improve, and generally to deal in real
estate and lands of every character and de.
scription together with all rights, ways, privi-
leges and improvements thereon, situated or
thereunto appertaining To conduct and
carry on such other business as may be found
necessary or convenient for properly affec.
tuating the aforesaid privileges or enhanc-
ing the value OF the properties, rights and
privileges of said corporation
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum of
six thousand (S6,0O00O) Dollars. and shall
be divided into and represented by sixty
(6O) shares of the par value of $4,000 each
The said stock shall be paid for in cash
or Its equivalent, provided by law and
IN such manner and at such times and in
such installments as may be prescribed by
the Board of Directors. This corporation
authorized to commence business when
three thousand (S300OG0 dollars has in fact
been subscribed and paid for in cash or its
equivalent as provided by iaw.
ARTICLE V.-The capital stock of this
corporation may be increased to the sum of
Fifty Thousand (s50,0O0OO) Dollars by a two
third vote of all the stock at a speciaI
meeting called for that purpose or at
regular annual meeting of the corporation
ARTICLE VI.-All certificates OF stocL
issued by the Company shall be signed bv
the President and countersigned by the Vice
President. or il authorized by resolution of
the Board of Directors shall be signed by
me President and countersigned by the
Secretary-Treasurer. The stock of this cor
poration can be transferred only on the
books OF the corporation and subject to such
regulations and formalities as may be BY
the Board of Directors from time to time
prescribed. No stakeholder shall be per-
mtted to sell or otherwise dispose Of his
stock without first offering the same in
writing to the other stockholders through the
Board of Directors at a price not exceeding
the book value thereof, and the stockholders
shall have an option and first right TO pur.
chase all the shares of stock to be thus dis
posed of by sale or by the death, resigna-
ton or otherwise OF any of the stockhold-
ers of the corporation, and shall have
period OF ten days in which to accept or