The herald. [volume] (New Orleans, La.) 1905-1953, 1919-02-20

United States of America, State of Louis
lana, Parish of Orleans City of New Or
leans. Be it known, that on this 18th day
of the month of January, in the year OF our
Lord, thousand nine hundred and nine
teen, and of the independece OF the United
States of America, the one hundred and
forty third. Before me, William J. Guste,
a Notary Public, duly commissioned and
qualified in and for the Parish of Orleans.
State of Louisiana, and in the presence OF
the witnesses hereinafter named and un
dersigned, personally came and appeared the
several persons whose names are hereunto
subscribed, all of full age, who severaly de-
clared to me, Notary, that availing themselves
i of the laws of this State relative TO the or
| ganiZation 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 may
| 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-wit:
| ARTICLE 1.-The name of this corporation
| shall be Southern Development Company,
| Inc, and under its corporate name, it shall
have 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
| shall have power TO contract. TO and be
sued. to make and use corporate seal and
to alter and break the same at pleasure; to
purchase, receive, lease, hold, or otherwise
acquire and convey as well 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 by
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; T.
. name, elect and appoint such managers
agents, directors and officers as the interest
4 and Of ai1 atfn re
quire, and to make and establish as well as
, alter and amend at pleasure such by laws
, rules and regulations for its proper govern
? ment may be deemed necessary and prop
/ r, and generally to do any and all thing:
: incident to or necessary and proper for tn,
: 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
Il and other legal process shall be served upor
. the President Of the Corporation and in tn
a event of his absence upon the Secretary
g | Treasurer.
= for which this corporation is established ant
. the nature of the business to be carried OF
by it are declared to be as follows: T
& acquire by purchase otherwise to build
- | erect, establish or construct upon; to cult
- waite and develop, to lease, rent mortgage
!, pledge, sell and ALLEVIATE. to utilize, enjo
> and improve, and generally to deal in rea
!, estate and lands of every character and de
d scription together with all rights, ways, priv
. leges and Improvements thereon, situated o
- thereunto appertaining. To conduct an
:, carry such other business as may be foun
= necessary or convenient for properly affeC
= tuating the aforesaid privileges enhanc
. ing the value OF the properties, rights an
~ privileges of said corporation.
ARTICLE IV.-The capital stock of thi
6 corporation is hereby fixed at the sum {
- Six Thousand (s6OOO.OO) Dollars. and sha
- be divided into and represented by sxt
:, (60) shares of the par value Of $1,000 eaci
y The said stock shall be paid for in cas-
- or its equivalent, provided by law an
- in such manner and at such times and
=. such nstallments as may be prescribed b
ie the Board of Directors This corporatio
shall become going concern and shall /
authorized to commence business whe
three thousand (s3,0OOOO) dollars has in ia,
- been subscribed and paid for in cash or i
equivalent as provided by law.
ARTICLE V.-The capital stock of til
corporation may be increased to the sum
Fifty Thousand (s50Ooo0O Dollars by tw
third vote of all the stock at speci
regular annual meeting of the corporation.
ARTICLE VI.-All certificates of stoC
issued by the Company shall be signed
the President and countersigned by the Vic
President, if authorized by resolution
the Board Of Directors shall be signed
the President and countersigned by Il
Secretary Treasurer. The stock OF this CO
poration can be transferred only on &
DOCKS OF the corporation ana subject 10 Su
regulations and formalities as may be
the Board of Directors from time to tir
prescribed. No stakeholder shall be pc
mitted TO sell or otherwise dispose of
stock without first offering the same
writing to the other stockholders through I
Board of Directors at price not exceedi
the book value thereof, and the stockholde
shall have an option and first right to pr
chase all the shares of stock to be thus d
posed Of by sale or by the death. resign
ton or otherwise of any of the stockhol
ers of the corporation, and shall have
period OF ten days in which to accept