The herald. [volume] (New Orleans, La.) 1905-1953, 1919-02-06
CHARTER OF SOUTHERN DEVELOP
MENT COMPANY, INC.

United States ST 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, 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 J. GuSte,
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 I'M
dersgned, personally came and appeared the
several persons whose names are hereunto
subscribed, all of full age, who severally de-
cared to me, Notary, that availing themselves
of the laws of this State relative to the or
ganization OF corporations, they have cove
uanted and agreed and by these presents do
covenant and agree and bind themselves
as we'll as all such other persons as may
hereafter become associated with them 10
form a corporation for the objects and pur-
poses and under the articles and stipula-
| tons following, which they hereby adopt as
| their charter, to-wlt:
| 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. Ii
! shall have power TO contract. to sue and be
| sued. to make and use a corporate seal and
to alter and break the same at pleasure Il
purchase, receive, lease, hold, or otherwise
acquire and convey well as mortgage anC
hypothecate under its corporate name, prop
erty. real, personal and mixed corporeal ant
incorporeal; to borrow money and make anC
issue bonds and other evidences Of indebted
ness, and If desired. to secure the same b!
mortgage and otherwise; to buy and holt
stock in other companies incident to tn
objects and purposes or the expansion of tn
business interest of the corporation; I
| ell
agents, directors and officers as the interes
/ and convenience of said corporation may re
quire, and to make and establish we'll a
alter and amend at pleasure such by laws
rules and regulations for its proper govern
ment as may be deemed necessary and prop
err, 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 citatio
and other legal process shall be served upo
the President of the Corporation and in tn
| event of his absence upon the Secretary
Treasurer.
ARTICLE III.-The objects and purpose
for which this corporation is established an
the nature of the business to be carried o
by il are declared TO be as follows: I
acquire by purchase OF otherwise to build
erect. establish or construct upon; to cult
vate and develop, to lease, rent, mortgage
ple0ge, sell ana dllendle- 10 uClllZe. EMO
and improve, and generally to deal in rea
estate and lands of every character and de
scription together with all rights, ways, priv
leges and improvements thereon. situated o
thereunto appertaning. To conduct an
carry such other business may be foun
necessary or convenient for properly affeC
tuating the aforesaid privileges or enhanC
\ ing the value OF the properties, rights an
privileges of said corporation.
ARTICLE IV.-The capital stock of thi
corporation is hereby fixed at the c
! Six Thousand (S6,0OO.O0) Dollars. and sha
be divided into and represented by sixt
(6O shares OF the par value of $1,000 eacl
The said stock shall be paid for in cas-
or its equivalent. as provided by law an
in such manner and at such times and i
such installments as may be prescribed b
the Board of Directors. This corporatio
shall become going concern and shall b
authorized to commence business whe
three thousand (S3.0o00O) dollars has in faC
been subscribed and paid for in cash or il
equivalent provided by law.
/ ARTICLE V.-The capital stock Of tn
corporation may be increased to the sum
Fifty Thousand (s5O,OO0O0 Dollars by a tw,
| third vote of all the stock at specii
meeting called for that purpose or at
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 or il authorized by resolution
the Board of Directors shall be signed /
the President and countersigned by Il
Secretary Treasurer. The stock OF this CO
Doration can he transferred only on u
books of the corporation and subject to SUI
regulations and formalities as may be
the Board Of Directors from time TO tin
prescribed No stakeholder shall be pc
mitted to sell or otherwise dispose of h
stock without first offering the same
writing to the other stockholders through Il
Board of Directors at a price not exceedir
the book value thereof, and the stockholde
shall have an option and first right 10 pu
chase all the shares Of stock to be thus di
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 10 accept
decline such offer of stock. Should Z
Board of Directors or the stockholders d
cline TO purchase the said stock, then L
stakeholder or stockholders who made &
offer to sell or otherwise dispose of h
stock may sell or otherwise dispose Of
r in any manner and at any price that he
they may see fit. But each share of sto
y is issued under the condition and uuds
o standing that no stakeholder shall make
sale or transfer of his stock in violation
this provision. and such sale or transfer