The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-15
CHARTERS.
CHARTER OF CANAL INVESTMENT
COMPANY, INC.

drpd ana twenty. ana OF tne luutpthhNiN'
of the United States of America, the one
hundred and forty fourth. before me, FL
don s. Lazarus, Notary Public, duly
commissioned and qualihed IN ana Tor
the Parish of Orleans, state or LOulslaha,
therein residing and in the presence or
the witnesses hereinafter named and I'M
darsigned, 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 availing themselves of the
laws Of the State Of Louisiana in such
cases made and provided, and more par
ticularly Of Act No. 261 of the General
Assembly of Louisiana of 1914. as amend
ed relating to the creation, organization
and formation Of corporations, they have
covenanted and agreed, and by these
presents do covenant and agree and BIND
themselves as well ~ all such Other per
sons as may hereafter become associated
with them, TO form corporation TOT the
objects and purposes, and under the ar
ticles and stipulations following, to-wt :
ARTICLE 1.-The name and style Of
this corporation shall be Canal invest
mcnt Company, Inc. and under its cor
pOrate name II shall have power ape au 70
thOritv to have aud 10 enjoy corporate
existence for Il period Of ninety nine years
from this date nuleSS sooner dissolved ny
liduidatiOn or otherwise: " SHAH nave
power to contract, 10 81" hHd 10 DE sued
TO make and use n corporate seal ana 10
alter aud break sam" NJ pleasure; TO hold
release, receive, purchase, transfer, as
sign, convey. mortgage, hypothecate
pledge or otherwise receive or dispose OF.
property real, personal and mixed, cor
poreaI 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,
ms it's 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 10 90
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 II.-This corporation shall
he 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 Iu.-The objects aad 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 10 he 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 rs may be found neces-
Sary or convenient TO enectuate 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 (sl00,O00.OO dol
lars, divided into and represented by
fhOusnu1 shares
(SlOO.O0l dollars each. Said stock shall
be paid for in cash or its equivalent rs
provided by law, and In such manner and
at such time and in such installmentS ms
may be prescribed by the Board of hi
rectors. The capital stock may be In.
creased to two hundred fifty thousand
$3.50, OO0.0O) dollars. to be represented by
two thousand five hundred shares, at one
hundred (S100O0) dollars each. All stock
of this corporation shall be full paid and
non 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 ia
such regulations and fOrmalities as may
he 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 10 purchase for cash all the
shares of stock TO be thus disposed of
and shall have n 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
thus granted to them, the stakeholder
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 Mt such
price as he or they may see mt. But tn,
stock Of this corporation shall be non
negotiable and nOu-transferable. eXcep
under the conditions and stipulation'
hereinabove set forth, and no transfer
OF stock whatsoever shall be binding up
on this corporation until and unless mad,
upon its books.
ARTICLE VI.-The corporate power
of this corporation shall be vested in, ant
exercised by. a Board Of Directors, com
posed of not less than four nor NOR
than six stockholders. three Of whom
shall nj all times constitute a quorum 70
the transaction OF business. The Direc
tors of this corporation may vote In per
son or by written proxy at any Of tn
meetings OF the Board Of Directors. Tn
first Board OF Directors of this compan!
shall be composed OF the following: Pete
Jung, Sr.. 1862 Gravier street. New Or
leans, la: Alexander Krauss, sol Maisol
Blanche Bldg, New Orleans, La: Meye
Eiseman, To Common street, New Orleans
70 La; Eldon s. Lazarus. 902 Maison Blanch
Bldg. New Orleans, La. These Director
shall serve until the second Monday Il
March, 1921. or until their successors shall
have been elected and qualified. The hi
rectors shall be elected annually by tn
stockholders at meeting of stakeholder
TO be held on the second Monday Il
March each year. Notice OF such meet
ings shall be given fifteen days prior +
the date thereof In writing and shall b
sent to each stockhcider at his last know
address. Each stakeholder shall at sucl
annual meeting or other meeting genera
or special, be entitled In person or b.
proxy to one vote for each share of stOcl
owned by him. Elections shall be he'll
under such rules and regulations as may
from time to time, be prescribed by IN
Board OF Directors. The Directors, whel
elected, shall hold Office for one year o
until their successors shall have bee
elected and qualified, and failure TO hol
the annual meeting Of stockholders or Z
elect annually the Directors shall not on
crate the forfeiture of this charter or
any rights hereunder. ANY vacancy oc
curing in the Board of Directors ma
be filed by the remaining Directors 70
the unexpired term. Immediately afte
their election each year, the Director
shah meet and select from their numbe
President, Vice President. a Secretar
and Treasurer. The first officers q
this corporation, who shall hold oHic
until the second Monday in March, 1872
or until their successors shall have bee
elected and qualified, shall be: Pete
Jung, ST., President; Eldon s. Lazarus
Vice President; Meyer Eiseman. Secretary
Alexander krauss, Treasurer.
ARTICLE VII-This Charter or Act q