The herald. [volume] (New Orleans, La.) 1905-1953, 1919-01-16
CHARTER OF CITY INVESTMENT
CO INC

CHARTER OF CITY INVESTMENT
| CO. INC.
nlted States OF America, State of IolIis-
| lana, City Of New Orleans Be il known
| that on this thirty-first day OF the month
| ot December, in the year one thousand. nine
hundred and eighteen. Before me Felix ].
| Dreyfous, a Notary Public duly commissio
| ed and sworn in for the Parish Of Orleans
and City Of New Orleans. therein residing
| Personally appeared, the persons whose names
are hereunto subscribed. who declared that
availlng themselves Of the provisions Of the
/ laws OF this State, relative TO the organiza-
ton OF corporations. and more particularly
Act No. 267 Of the General Assembly of this
State, approved July 9. 1914 they have cove
manted and agreed and do, b ythese presents
covenant and agree, bind form and consti-
tute themselves as well as such persons who
may hereafter join or become associated
with them, into corporation and body poll
nc IN law, for the objects and purposes and
under the agreements and stipulations fol
lowing, to-wt:
ARTICLE 1.-The name and STYLE OF this
corporation shall be: City Investment Co..
Inc and under that name it shall have and
enjoy all the rights, advantages and priv.
leges granted by law to CORPORATIONS II
shall exist for the period of ninetv-nine wears
from this day: it shall have power to contract.
| sue and be sued in its corporate name: 70
make and use corporate seal and the same
| to break or alter at pleasure; to hold, re-
celve, purchase, convey. mortgage, hypothe-
cate or pledge property, both real and per
| cations or negotiable instruments: to have
| and employ such managers, directors, officers
| agents and other employees as the interest
and convenience OF said corporation NAV
| such bylaws, rules and regulations for the
| corporate management and control of the
| affalrS OF the corporation as may be deemed
| necessary and expedient.
| ARTICLE 1L-The domicile of said cor
| poration shall be established in the Civ Of
New Orleans in this State, but il NAV es.
| tao!ish offices and agencies throughout the
| United States, or foreign countries All
citations and other legal process shall be
| served the President and in his absence
on the Vice President of the corporation
| ARTICLE III-The objects and purposes
| Tor which this corporation is organized and
| the nature OF the business 10 be carried on
| ny 1t, are hereby declared to be- to deal in
| buy, and sell for its own account. or for
| account OF others, real estate lands, tene.
| ments, tramways. water craft, mortgages
| mortgage notes, bonds, shares of stock and
| other securities; to lend money on proDertv
| real and personal on railroads, tramways,
| canals, water craft, bonds, stocks, and other
| securities; to lease, rent, or hire property.
| make leases; to act as broker agent or trus-
| tee, for individuals, firms or corDorations
10 reclaim and improve landed property; to
l1ay out town lots or suburbs, pave streets
| sidewalks, and alleys; to put down sewer
| drainage water and gas pipes to connect
! with the municipal plants, for the sole
|
| lay conduits to support or receive wires for
| electrical transmission; to construct or erect
| or TO contract for the construction or cree
| non OF homes, tenements, stores or other
| residential. commercial or industrial build.
| ings, docks, water craft. tramways, rail
| roads, canals, workshops, horticultural and
mechanical plants; to encourage the proc11r-
| ing OF houses for all classes by selling same
Tor cash on easy terms OF payment on in
| stallments or the homestead plan; and
generally, to do, and engage in any other
| thslness, undertaking. or enterprise. con-
| neeted with. growing out of germane or in
cldental to, any OF the purposes hereinabove
set forth, or contemplated by this charter
| ARTICLE IV.-The capital stock of said
corporation is hereby fixed at Five hundred
| and five thousand (S5O5,OO0OO Dollars, con-
sisting OF two different classes of issue, one
| thereof to be known as Preferred Stock and
| the other as Common Stock.
| section ]: The amount OF said preferred
stock is fixed at the sum of Five Hundred
thousand $500 10000 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 lin.
| tied to seven per cent per annum, and said
preferred stock shall be entitled to no other
| or further share of the profits The whole
| or any part OF said preferred stock MAJ, he
! called and retired at par, plus cumuiated
| dividends to date of payment at any Il me-
provided that in case only part of said stock
called Tor 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
| from the total numbers thus collected num-
Der or 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 with
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 cunlulated 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 divi-
| 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 so purchased or any part thereof,
| at not less than par, and as said Board may
| from time to time in its discretion deem ad-
visable in the interest of the company.
| Section 2: The common stock of said cor
poration is hereby fixed at the sum of Five
| Thousand (S5,0O0OO Dollars. divided into or
represented by Five Thousand shares of the
par value of one 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 /, 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
Board of Directors may determine.
Section 8: The Board of Directors shall