The herald., 1920-08-26
CHARTER.
or PROGRESSIVE REAL Es-
mLBfst gDCTION EXCHANGE, INC.

ssiE AUCTION hN'A' ~
.,os OF America, State of Lou
uplted s.h Of Orleans, City OF New Or
1 800 he il known, thar on inns Ms tS gay gay
he mont. ensaud nine hundred and
I'D one ~ the independence Of the
,snty, ena the one hundred and forty
ssitsd suus me Rudolph ]. Weinmann, a
~, belotsHc duly commissioned, sworn
ystsfy PILL nd IN and for the Parish of
sd QuaiS,ste OF Louisiana. and In the
akanh ~ the witnesses hereinafter
fsss11. and undersigned, pers1nnaiiy ZANE
"a sppes'e subscribed, all of full age,
se befeonJ that, ayailing themselves of
no dec,I.ut,on and laws OF this state
A Constr .orporations, they have coyen-
rhtirs 70 sSreed. and do by these pres
.ptsd sps snt and agree, and do bind
~ ces cove AZ well as such other persons
hsnF Hereafter become associated Win
y nay form and constitute CORPORATION
tbsp, 70 noIitic in law, for the purposes
"a beoy and under the stipulations and
.ud eplee hsreinafter set forth and eX-
ppciuons hich they hereby adopt as their
ksrter. ~ rG~The name and title OF this
ARII.I,an shall be Progressive Real Es-
sfpoftact, Exchange, Inc. under
II shall ENJOY sueC 'nns Ior
fpeess,,od Of ninety nine !''' years
rcn us hereby established IN the City
tnien n,,esns. La; under its corporate
4 New sair corporation shall have
rre VA authority to contract, sue and
ssxd - ,he prosecution OF Its business
u neI defined; to adopt a corpor-
Ell. 10 hold, receive, purchase i'm,
fs .,ienate, convey, mortgage and
~. property, real personal and mixed
plNge Pr or elect such directors, agents
% tppsiovees as its interests may re-
ID eIp Establish such rules, regulations
suls, i.ws for the proper management
| VI pyaistjons of its affairs as IL may
| I'D rsaSient: and to do all other things
cen ~ hv law as shall be proper and
Fs.,x 10 carry out the objects OF the
"a corporation. - .,. -,
M President, or IN MS absence, inc
~. President, shall De the proper person
~, whom citation anu otneE esdl PRIV
W. ,h,Il be served.
enspTIcIE 1.-THE objects and purposes
Ans,cb this corporation Is organized,
W - nature of the business to be car
10 u nv n. are hereby declared to be
n.sduct operate and control, for profit,
nhnsiness Of an auction exchange, OF
s.hlisbment centrally located in the city
sys~ Orleans wherein auction blocks
nd
s,'.ls firms or corporations, whether
ns.sso,ders In this corporation or not, so
i've the said individuals, firms or
ee.so,stions the privileges OF the said auc-
ma,chanpe and the use of the facilities
sa..sn when auctioning off property,
.ss,sss real, personal or mixed for sale or
Ss,xise under such rules and regula-
ans as may by this corporation be
s...,.5. 10 buy and sell real estate,
~ as principal or agent; to lease, rent,
eIssse mortgage, pledge, convey, assign,
| .,.tsr set over and deliver, sustain, OBJ
- antions on real estate, either as prin-
- Ar agent; and generally to do and
x.s,tsrm ali such business as may be neces-
~ for or Incidental to the objects and
mrposes herein mentioned as fully as is
4 forth herein.
.,eorstiop is hereby fixed at five thou
"a 5000 dollars, divided into one hun
- iIOOl shares Of fifty (SJ000) dollars
.lue each, payable in cash at such times
\ nav be determined by the Board of
m aid capital stock may be increased
n ffty thousand $50, 100000 dollars.
10 transfer Of stock shall be recognized
mas entered in the stock book. No
sockholder shall have the right to sell hi.
Ssck On the market without having offered
4 n writing, at its book value to the
Mari Of Directors of this corporation,
r,uy COZ days prior to the contemplated
uk az the stock, and IL the said Board
tsdres to buy 1t, purchase shall be made
d behah Of the corporation, and the stock
All then and there become treasury
fxi. notice Of the obligation to SO
ssR the stock shall be printed across tn,
hs Of each certificate Of stock.
ARTICLE Iv.-The corporate powers o.
as corporation shall be vested in and o.
gcsed By q Board Of Directors composed
4 ten stockholders, Of which 4auorum
hsll consist Of five Directors, Tor the
tsnnction Of business, and their decisions
| Aall be valid, corporate acts.
ne nid Board of Directors shall have
be power to fill all vacancies on said
heard arising from any cause whatsoever.
he first election of directors under this
dartR shall take place on the second
tuesday In January of each year, begin
Eiae In 1921, until which time, or until
her mccessors shall have been elected
nd qualified, the following stockholders
hall constitute the first Board of Di-
ncsn:
jana y. Turnbull, $40 Baronne Street.
kw Orleans La; Alvin L. johnson, 316
dfendelet Street, New Orleans La. |; Ed
un Murphy. $40 Baronne Street, New Or
nns Ia; Ben B. Mathews, 800 Baronne
srSt New Orleans, La; X. l.. Viguerie,
= Blronne Street, New Orleans, La. !;
nyU nseman, 732 Common Street, New
Gian1 La; Ashton Blum, 613 CONNER
q Place, New Orleans, La; Carroll Il.
sihsley, us Common Street, New Or
ma Ia; Arthur z. Mayer, 500 Perdido
mt New Orleans, La; NJ. z. Arnoult,
u % Baronne St., New Orleans, La.
ne Board Of Directors at its first meet
= MAJ each annual election shall elect
- 10 members a President, a Vice-P Pres
~ Secretary, and a Treasurer; the
Mpxmg officers shall serve until the
~ Tuesday In January, 1921, or until
- me as their successors shall have
"a duly elected and qualified, to-wit:
!eno y. Turnbull. ..... President
Ann =. Johnson. &. .Viee-President
safd Murphy. Secretary
- %. matheWS.. Treasurer