The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-22
CHARTERS.
CHARTER OF CANAL INVESTMENT
COMPANY, INC.

dred and twenty and Of the Independence
of the United States of America, the one
hundred and forty fourth, before me, FL
don S. Lazarus. Notary Public. duly
commissioned and qualified IN ana Tor
the Parish of Orleans, state OF Loulslaha,
therein residing, and in the presence or
the witnesses hereinafter named and I'M
dersigned. personally came and appeared
the several persons whose names are here
unto subscribed. all Of the full age OF
majority who Severally declared to me.
Notary, that ayailing themselves OF the
laws OF the State of Louisiana in such
eases made and provided, and more par
ticularly Of Act No. 267 of the General
Assembly of Louisiana of 1914. as amend
ed, relating TO the creation, organization
and formation of corporations, they nave
covenanted and agreed, and by these
presents do covenant and agree and bind
themselves as well as all such other per-
sons as may hereafter become associated
with them, TO form n corporation for the
objects and purposes and under the ar
tiCles and stipulatiOns following, to'wlt:
ARTICLE THE name and style of
this corporation shall be Canal Invest
mcnt Company, Inc. and under ITS cor
porate name II shall have power and au-
thOrity to have and to enjoy corporate
existence for "A period Of ninety nine years
from this date unless sooner dissolved by
H0uidatiOn or otherwise: II Shan nave
power TO contract to sue and 10 be sued,
TO make and use q corporate seal, ana 10
alter and break same at pleasure; TO hold,
release. receive, purchase, transfer, as
sign convey. mortgage, hypothecate
pledge or otherwise receive or dispose OF.
DrOperty real, personal and mixed, cor
porcaI or incOrpOreal; to issue bonds, and
il desired to secure the same by mort
gage; to buy and hold stock in other com
panies; to name, elect and appoint such
managers, agents, directors, or Officers,
as its business interests may require, and
to make and establish, alter and amend,
bylaws, rules and regulations for its
proper government as may be deemed
necessary and proper, and generally to do
any and all things incident to. or neces.
sary and proper for the proper conduct
and expansion Of the business In which
the corporation is engaged.
ARTICLE I.-This corporation shall
be domiciled in the City of New Orleans,
Louisiana. and all citations or other le-
gal process shall be served upon the
President of the corporation, and in the
event Of that officers absence, upon the
Vice President and. in the event OF the
absence of both, upon the Secretary or
the Treasurer.
ARTICLE u.-The objects and pur-
poses for which this corporation Is organ
lied and created, and the nature of the
business to be carried on by it, are here
by declared to be as follows: To buy,
sell, lease and otherwise acquire, deal In
or dispose Of property, real, personal or
mixed, in the City of New Orleans or else
where, either for its own account or for
account of others; and TO carry on and
conduct such other business and TO do
such other things as may be found neces-
sary or convenient to effectuate the afore-
said purposes, or to enhance the prosper
ity and the value of the properties rights
and privileges of this corporation.
ARTICLE Iy.-The capital stock Of this
corporation is hereby fixed at the sum of
one hundred thousand $500 100000 dol
lars. divided into and represented by
one thousand shares, at one hundred
(S10000l dollars each. Said stock shall
be paid for in cash or its equivalent as
provided by law. and in such manner and
at such time and in such installments as
may be prescribed by the Board of Di-
rectors. The capital stock may be in
creased to two hundred fifty thousand
$3.50 OO0OO) dollars, to be represented by
two thousand five hundred shares. at one
hundred (S1O0OO) dollars each. All stock
of this corporation shall be full paid and
-assessable, and shall be represented
by certificates of such form as the Board
of Directors may determine. signed by
the President or Vice President and the
Secretary, and sealed with the seal of the
corporation.
ARTICLE V.-The stock of this corpOr-
alton may be transferred only on the
books Of the corporation. and subject to
such regulations and formalities as may
be prescribed from time to time by the
Board Of Directors. No stakeholder shall
be permitted to sell, or otherwise dispose
of his stock without first Offering the
same in writing to the other stockholders.
through the Board of Directors. at a price
not exceeding the book value thereof, and
the stockholders shall have an option and
first right TO purchase for cash all the
shares of stock to be thus disposed of.
and shall have period of ten days with
in which to accept or decline such offer
of stock Upon the failure Of said Board
Of Directors or the stockholders to eXer-
else within the time stipulated the option
who desires to sell or otherwise dispose
Of his stock Tor his heirs) shall be at lib
erty to sell or otherwise dispose of his
said stock in such manner and at such
price as he or they may see fit But the
stock Of this corporation shall be non
negotiable and non-transferable. except
under the conditions and stipulations
hereinabove set forth, and no transfer
of stock whatsoever shall be binding up
on this corporation until and unless made
upon fits books.
ARTICLE VI.-The corporate powers
of this corporation shall be vested in, and
exercised by. Board of Directors, COM
posed of not less than four nor more
than six stockholders, three of whom
shall ut all times constitute quorum for
the transaction OF business. The Direc-
tors Of this corporation may vote in per-
son or by written proxy at any Of the
meetings of the Board of Directors. The
first Board OF Directors of this company
shall be composed of the following: Peter
Jung, ST.. 2662 Gravier street. New Or
leans, Ia; Alexander Krauss sol Maison
Blanche Bldg. New Orleans, La Meyer
Eiseman. 732 Common street. New Orleans
La. E1don s. Lazarus. 902 Maison Blanche
Bldg, New Orleans, La. These Directors
shall serve until the second Monday In
March. 1921. or until their successors shall
have been elected and qualified. The III
rectors shall be elected annually by the
stockholders at a meeting of stockholders
4 to be held on the second Monday in
March each year. Notice of such meet
ings shall be given fifteen days prior to
the date thereof In writing. and shall be
sent to each stockholder at his last known
address. Each stakeholder shall at such
annual meeting or other meeting, general
or special, be entitled in person or by
proxy TO one vote for each share of stock
owned by him. Elections shall be held
under such rules and regulations as may,
from time to time, be prescribed by the
Board Of Directors. The Directors. when
elected, shall hold Office for one year. or
until their successors shall have been
elected and qualified, and failure to hold
the annual meeting of stockholders or to
elect annually the Directors shall not op-
crate the forfeiture of this charter or Of
any rights hereunder. ANY vacancy &C.
curing in the Board Of Directors may
be filled by the remaining Directors for
the unexpired term. Immediately after
their election each year. the Directors
shall meet and select from their number
a President. Vice President. a Secretary
ana Treasurer. The first officers OF
until the second Monday in March, 1921,
or until their successors shall have been
elected and qualified shall he: Peter
Jung, Sr., President; Eldon s. Lazarus
Vice President; Meyer Eiseman, Secretary
Alexander Krauss, Treasurer.