The herald. [volume] (New Orleans, La.) 1905-1953, 1919-07-03

ton or otherwise, and shall have power and
authority to contract, to sue and be sued
to make mortgages, hypothecations and
pledges, TO make and use corporate seal and
hold, receive, lease, purchase, sell, transfer,
assign, mortgage, hypothecate, pledge or
otherwise receive. use or dispose of proper
ty' real, personal or mixed, corporeal and
Incorporeal; to issue bonds and TO secure
same by mortgage or pledge; to buy and holi
or cispCse of stock in other companies: t.
create and accept mortgages pledges or other
hypothecations; to elect and appoint such
require; to make aud establish, alter and
amend rules, bylaws and regulations for
its proper government.
ARTICLE 1.-THE domicile of this cor.
porati1n stall be in the City of New Or.
leans, Parish of Orleans and State of Louis
lana, and citation and other legal process
shall be served upon the President of the
shall be served upon the Vice President of
the corporation, or, in the event of the alb
sence of both the President and the Vice
President shall be served upon the Treas
urer of the corporation.
ARTICLE III.-The objects and purposes
for which this corporation is created and or.
gained and the nature of the business to
be carried on by 1t are declared to be as
follows: To engage in buying, or otherwi Sc
acquiring and selling, otherwise alenat-
ing, real estate; and TO acquire by purchase
or otherwise, to hold. lease, sell, improve,
mortgage or cultivate or deal in real estate,
lands and their improvements and properties
located thereon and incident thereto or con-
nected Herewith; to reclaim and improve
lands; to carry on a general planting bust
ness; to do any and all things necessary or
incidental to the raising. cultivating and
gathering of cotton, corn, and any other crops
or products of the soil, and to market and dis.
pose OF the same; to construct, maintain and
operate dwellings, barns, cotton gins and
presses, and other buildings works and i'm.
provements; to raise live stock and to deal
in same; to own and conduct stores; TO Law
out suburbs of additions to towns; to es.
tablish and dedicate squares, streets, alleys
and canals for navigation or drainage; TO
construct and operate drainage plants; to
construct or have constructed. buildings OF
all kinds, docks, wharves canals and pump
ing plants; to establish industrial and manu-
featuring sites, to lease its property or
any part thereof for such purposes; TO ex-
change its capital stock, or any part thereof
for property; to issue bonds and TO give
mortgages and pledges in such manner and
form as it may determine: to acquire and
hold dispose of stock in other corporations
and generally to do any and all things neces.
sary and proper incidental or pertinent to
the powers herein set forth and to the bust
ness hereby authorized.
ARTICLE IV-The corporate stock of this
One Hundred and Fifty Thousand Dollars
(sl5O,OOOOO), divided into and represented by
Fifteen Hundred (l500) shares of a par value
of One Hundred Dollars $4,000 each. The
whole or any part of said stock may be
issued for cash actually received, or for
money or property for services rendered.
ARTICLE V.-This corporation shall be
come going concern and shall be author
lied to commence business as Sew
enty-five Thousand Dollars (S75,0000O) of its
capital stock shall have been paid for, either
in cash or its equivalent, provided by law
The stock of this corporation; or any par
thereof, may be delivered to any person, firm
association OF persons, or corporation, II
return for the acquisition by the Company
Of any property owned or controlled by sucf
person, firm, association or persons or cor
poration; or in payment of other propertie:
or for services rendered
The capital stock of this corporation may
be increased to the sum of Five Hundred
Thousand Dollars $500 10000 by a vote o.
two thirds (2/0 of all the stock outstanding
at special meeting called for that purpose
or at regular meeting of the corporation
pany shall be signed by the President, o.
by a Vice President of the Company, ant
countersigned by the Secretary or Treasure
of the Company. The stock Of this corpora
ton can be transferred only on the book
of the corporation and subject to such rule
of directors from time to time be pre-
scribed.
No stakeholder shall have right to trans
| fer or convey any of his or her stock in thu
| corporation, unless and until he she shall
| have first made written offer to the othe
| then stockholders of the corporation, and L
| the corporation itself, to sell his or her stool
| to them, at the same price as that at which
| he or she may have received bona fd
offer therefor. Such written offer shall b
| addressed to the other then stockholders
and 10 the corporation ITSELF collectively
and shall be delivered to the office of tn
corporation not less than ten (l0) days prio
to the application for transfer of the stock
| The corporation shall transmit This offer I
| the respective then stockholders, and TIL
stock of the stakeholder desiring to sell shall
| be distributed pro rata among such of TIL
other stockholders as desire to purchase il
the proportions in which the holdings of tn
stockholders DESTROYS of purchasing bear t
each other; provided that the other stock
| holders desiring to sell shall not be re
| CURED 10 take all of the stock of the stock
| holders desiring to sell, but shall have tn
option to take any part of it, at the pric
| at which a bona fide offer may have bee
| received by the stakeholder desiring to sell
| for the whole amount offered; and il the to
| tai which the other stockholders desire {
| purchase is less than the total offered TO
| sale, then, after each of the other stockhold
ers shall have taken and paid for the amour
1
the remainder undertaken shall be open 70
purchase by the corporation itself; and III
| less prohibited by law, the corporation ma
itself use and apply its surplus earnings O
| accumulated profits to the purchase, fror
| any stakeholder desiring to sell, of any poi
ton of that stockholders stock which non
of the other stockholders may desire to aC
quire, at the same price as said stock sha
have been offered to the other stockholders
provided that the corporation shall not ar
ply any of it's capital to the purchase of sue
| stock, but shall always maintain its capita
unimpaired and invested in other propert
and in securities The corporation sha
have the right to refuse, to transfer an
stock so long as the shareholder demandin
the transfer is in any way indebte
to the corporation and the corporatio
shall have lien, pledge. and priv
| lege on each share of stock TO secur
any Indebtedness due by the shareholder
the corporation Should any OF the stoc
offered for sale be not desired by any {
the other stockholders. and should the Co
poration itself be unwilling or unable to pu
chase any of the same out of its surplr
earnings within ten C0) days from II
receipt at the corporations office OF the wri
ten offer to sell. then, and then only, sha
the stakeholder desiring to sell be entitled
transfer such undesired portion of the stoc
to such person persons as he may see II
for not less than the price at which he
she has offered the stock to the other the
stockholders and to the corporation. I'll
provisions of this article shall be printed upo
the face of each certificate issued by II
corporation, and shall be binding upon ever
person now or hereafter becoming stool
holder in this corporation, all OF whom. tai