The herald. [volume] (New Orleans, La.) 1905-1953, 1919-01-09
CHARTER

al IN
cations or negotiable Instruments 70 m1ne
81 emnlov such managers, directors, oillceIs'
agents and other employees as inc lI''e
and convenience OF said corporation nSi
require or demand; to make anu frr he
80 bylaws, rules and regulations Tor me
rornorate management and control OF t'G
affairs Of the corporation as may De uee"eu
necessary and expedlent.
ARTICLE 1.-THE domicile OF saia cor
poration shall be established IN the cuy VI
Ery Orleans in this State, but 1t may tS-
tabIish offices and agencies throughout the
United States, or foreign countries an
citations and other legal process shall De
served on the President. and IN ms absence
on the Vice President OF the corporation
| ARTICLE III-The objects and purposes
for which this corporation Is organized anu
the nature OF the business to be carried On
by it. are hereby declared TO be, to deal IN
buy, and sell; tor ITS own account Vi
account of Others real estate, lands tene-
meuts tramways. water craft, mortgages,
mortgage notes, bonds, shares OF stock ana
other securities; TO lend money on properly
real and personal on railroads, traliwass,
canals. water craft, bonds, stocks, and other
securities; 10 lease, rent, or hire property.
make leases; to act as broker, agent or tfuS-
tee, for individuals, firms or corporations;
to reclaim and improve landed property; 10
Law out town lots suburbs, pave streets,
sidewalks, and alleys to put down sewer.
drainage, water and gas pipes, to connect
with the municipal plants, or tor the sole
use of such subdivisions, TO erect poles ana
Law conduitS to support or receive wires loI
electrical transmissio to construct or erect.
or to contract for the construction or cree
| ton of homes, tenements, stores or otiiGl
residential. commercial or industrial Dullu-
inps docks, water craft. tramwayS, rail-
| roads canals workshops, horticultural and
| mechanical plants; TO encourage the procur-
| ing of houses for all classes by selling same
| for cash easy terms OF payment, on IN,
staIlments or on the homestead plan; and
| n do other
susiness, undertaking, or enterprise, con-
| nected with. growing out OF germane or IN
cidental to, any OF the purposes herelnaDoVe
set forth, or contemplated by this charter.
| ARTICLE IV-The capital stock of said
| corporation is hereby fixed az Five hundred
and five thousand (S5O5,O0OOO) Dollars, con-
sisting of two different classes of issue, one
| thereof to be known Preferred Stock and
| the other Common Stock.
| Section l: The amount of said preferred
| stock is fixed at the of Five Hundred
| Thousand (S500OO0.OO, Dollars, divided into
| or represented by five thousand shares of the
par value of One Hundred Dollars each.
| The preferred capital stock shall be entitled
| by preference and priority over the common
| stock of the corporation to dividends in each
and every year at the rate of seven per
cent per annum payable out Of the profits;
| such dividends shall be cumulative and linn
| tied to seven per cent per annum, and said
preferred stock shall be entitled to other
or further share of the profits. The whole
called and retired at par plus cumulated
dividends to date of payment, at any time,
| provided that in case only part OF said stock
| is called for retirement, the part to be so
| retired shall be determined by lot. a number
| shall be placed in the allotment for each
! outstanding share of preferred stock, and
1 from the total numbers thus collected, num-
| Der numbers equal to the number of
shares to be retired shall be drawn by lot.
| In the event of any liquidation or dissolu-
ton or winding up, whether voluntary or in
| voluntary, of the corporation, the holders of
| the preferred stock shall be paid in full.
the par value of their shares, together wish
all cumulated dividends thereon, at the
rate of seven per cent per annum to the
date of said liquidation, and after payment
| to the holders of the preferred stock at its
par value with said cumulated dividends,
the remaining assets and funds shall be d-
vided and paid to the holders of the common
Stock ratably according to their. respective
shares. The Board of Directors shall in
addition to the foregoing. have the right, at
any time to buy in open market any of the
Preferred Stock at par, plus cumulated dvi-
dends thereon to the date of purchase. In
the event this corporation through its Board
of Directors shall acquire any of the Pre-
ferred Stock in the manner above set forth,
said Board shall have the right to reissue
the shares purchased any part thereof,
at not less than par, and as said Board may
from time to time in its discretion deem adj
vsable in the interest of the company.
Section 2: The common stock OF said cor
poration is hereby fixed at the sum of Five
Thousand (S5,0OOO0 Dollars divided into or
represented by Five Thousand shares of the
par value of dollar each, and shall be
entitled to such dividends as may be de-
clared by the Board of Directors, subject to
the provisions of Section l, hereof, and shall
be entitled to share in the assets and funds
OF the corporation only in the manner pre-
scribed in Section l. hereof, and in no
other way. Separate stock books and stock
registers shall be kept for each class of
stock. The whole of said stock or any part
thereof may be issued and delivered to any
person. firm or corporation for the acquire
ment of rights, privileges, permits, fran
chises, property. servitudes. leases or any
part thereof or for investment in bonds,
| stocks, and other securities, also for cash
or in instalments of such amounts as the
Board of Directors may determine.
Section ;: The Board of Directors shall
have authority to allow interest upon all in
| stalments paid stock subscriptions at the
rate OF seven per cent per annum from the
date such payments respectively made
until the shares are fully paid and there
after, the shares shall be entitled to such
i dividends as may be declared ont of the
earnings of the Company in the manner here.
inabove set forth. The said Board shall
also have authority to set aside from the
I earnings of the Company a special fund
from which future dividends nav be paid.
as occasion shall require or warrant.
Section 4: The capital of this corporation
may be increased to an amount not exceed
ing One Millions Dollars of preferred stosk
and Ten Thousand Dollars of common stock
IN such manner and at such time as NAV
hereafter be determined or as NAV be per
mitted or authorized by law
| ARTICLE YAH the corporate newers of
the company shall be vested in and the
management and control of its affairs shall
be cised by a BOARD OF Directors com.
posed OF three stockholders which number
may be increased at such time or times.
which may be deemed advisable 10 not more
than nine. at the discretion of the Board Of
Directors. A majority of the directors shall
constitute a quorum for the transaction Of
all business. The directors shall be elect
ed annually by ballot BY the stockholders
on the first Monday of November in each
year. Each stakeholder shall be entitled
IN person or by proxy to vote for every
share owned bv him. without regard 10 class
and all elections shall be held under such
rules and REGULATIONS as NAV be determine
by the Board of Directors but after fifteen
days notice by mail of such election. shall
have been sent to each stakeholder at his
last known address. The Directors thus
elected shall continue in office for one wear
or until their successors shall have been
duly elected and qualified No failure to elec,
: shall be regarded as forfeiture of this char
ter. Any vacancy occurring on said Board
shall be filled by the remaining directors for
, the unexpired term; the said Board shall like
wise elect the additional members in case
, they should determine to increase the num-
Der OF the Board. above provided Said
Board OF Directors, shall, at its first meet
ing after its election nominate out Of its
| number A President two Vice. p-es;da,,s