The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-17
CHARTERS.
CHARTER OF INDUSTRIAL CITY


nineteen and of the Independence of the
United States of America the one hun
dred and forty third before me- Augustus
q. Williams, a Notary Public, duly com
misioned and sworn, in and for the Parish
of Orleans, and therein residing, person
ally came and appeared the several persons
whose names are hereunto subscribed
who declared that, availing themselves of
the laws and constitution of the State of
Louisiana relative to the formation of
corporations, and especially Act 267 of
1914, they do hereby form themselves,
their associates and successors into cor
poration and body polite in law for the
objects and purposes and under the agree
ments and stipulations herein contained
which they hereby adopt as their articles
of Incorporation or charter tO-wit:
ARTICLE 1.-The name and style of this
corporation shall be Industrial City Co.
Inc, and under said name it shall have
ninety nine years from this date and shall
have and enjoy all the rights. priv
ileges and advantages granted by
law to corporations; it shall have
power to contract, to sue and to be
sued in its corporate name; to make and
use the corporate seal. and the same to
break or alter at pleasure; to hold, re
ceive. purchase, convey, mortgage and
hypOthecate or pledge property. both real
and personal; to issue bonds notes, and
other obligations; to have and employ
such managers, directors. officers, agents
and other employees as the interest and
quire; to make and establish such by
laws rules and regulations for the cor
poratP management and control of the
affairs of the corporation as may be
deemed necessary and eXpedient; and to
own stock in other corporations.
ARTICLE 1.-THE objects and purposes
for which this corporation is organized
and the nature and character of the bust
declared to be; to deal in buy and
IL for
the account, of others, real estate
lands, tenementS. mortgages, mortgage
notes and other securities; to raise stock
and farm products of all varieties and
dispose of same and otherwise to engage
in general farming and to contract with
others to do SO; to borrow money on
property, real or personal. to lease. rent
and hire property, and to make leases ::
to reclaim and improve landed or swamp
property; to lay out town lots or suburbs,
pave streets, sidewalks and alleys, to
put down sewers, drainage, water and gas
pipes, TO connect with the municipal plants,
all for the sole use of this Company; to
erect poles and lay conduitS 10 support or
receive wires for electrical transmission :;
TO construct or erect or to contract for
the construction and erection of buildings
and other improvements; and generally
to do and engage in any other business.
undertaking or enterprise connected with.
growing out of, germane and incidental
to any of the purposes hereinabove set
ARTICLE 1.-THE capital stock of this
corporation shall be Fifty Thousand Dol
lars (Sj00OO.0O) divided into and repre-
scented by five hundred shares 5000 of
($1000O) each, which may be paid for in
cash or property. All shares of stock
shall be full paid and assessible. No
transfer of stock shall be binding upon
the corporation unless made upon its
books, and all certificates of stock shall
be signed by such officers as may be
designated by the Board of Directors. The
capital stock of this corporation may be
increased to Two Hundred and Fifty
Thousand Dollars (S250,OO0.O0).
ARTICLE IV.-The domicile of this cor
poration shall be in the City of New Or
leans, State of Louisiana. All legal pro-
cess and citation shall be served upon the
President. and in his absence upon the
ce-President, or upon the legally
authorized acting President of said Com
pany.
ARTICLE V.-All the corporate powers
of this corporation shall be vested in, and
the management and control of its affairs
shall be exercised by Board of Direc-
tors. This Board of Directors shall be
holders on the first Monday of February
of each year: the stockholders at the
said meeting shall designate the number
of directors who shall be chosen for the
ensuing year and this number may be
increased or decreased at each annual
meeting of the stockholders, as the stock
holders may determine. but at no time
shall the number of Directors to be elected
be less than three. Each stakeholder shall
be entitled, in person or by proxy. to
vote for each share of stock by him
owned, and all elections ana meetings by
the stockholders shall be held under such
termined by the Board of Directors.
Notices for meetings of stockholders shall
be sent ten Q0 days previously to the
said meeting in writing by mail postage
prepaid to the last known address of the
said stockholders. The Directors thus
elected shall continue in office until the
first Monday in February 1921, or until
their successors shall have been duly
elected and qualified. No failure to
elect Directors shall be regarded as
forfeiture of this charter but the Direc-
tors then in office shall continue as such
until their successors are elected and
qualified. A majority of the Board of
Directors shall constitute a quorum for
the transaction of business Any vacancy
occurring on the said Board of Directors.
between annual elections, shall be filled
by the remaining Directors for the unex-
pired term. The officers of said corpora
ton shall be President, a Vice-Presi-
dent and a Secretary and a Treasurer.
The office of President and Treasurer may
be combined. Any Director shall have
the right to appoint by written instrument
anOther Director or stakeholder to act as
his proxy and in his stead at any and
all meetings of the Board of Directors
as fully and as affectually as though he
were himself present. The Board of Di-
rectors shall fix the salary and compen-
sation of the officers of this Company, and
1t shall fix the compensation of the men,
bers of the Board for attending any and
all meetings of the Board: provided,
however, that a Director of this Company
shall not receive such compensation for
attendance if he be an officer of the Com
pany. Director shall not be disqualified
as such, or as an officer, from voting to
fix his own salary or compensation: nor
ing In and voting by reason of personal
interest on any subject matter. The
first Board of Directors shall be composed
of: j. Wilfred Gaidry. President Treasurer
W. f. Gosselin. Vice President. A. g.
Ball Secretary. These officers shall serve
until the first Monday in February 1921
or until their successors are elected and
qualified. On the first Monday in Febru-
airy, 1921 and annually thereafter the
Board of Directors shall elect from their
number. officers as above described.
ARTICLE VI.-The following is a list
of the names and Post Office addresses
of the subscribers to these articles of
incorporation and a statement of the num-
Der of shares of stock which each agrees
to take herein: w. f. Gosselin. 1916 Hamp-
son Street, Zone share) j. Wilfred Gaidry,
g. Ball, go Gravier Street, Zone share)
Gaidry Land Co, Inc, 302 Hennen Bldg.
flour hundred and ninety seven shares),
by j. Wilfred Gaidry. President.
ARTICLE Vino stakeholder shall
ever be held liable or responsible for the
contracts. faults or debts of this corpora
ton, nor shall any mere informaIity in
its organization have the effect of render
ing this charter null or of exposing a
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