The herald., 1921-09-22
CHARTER.

sent director according to the written in
| StructlOns, either general or special, OF
| said absent director. The board OF di-
| rectors shall have authority to make and
| establish, as well as alter and amend, all
| bylaws, rules and regulations necessary
and proper for the support and manage
| ment OF the business and affairs of this
| corporation and not inconsistent with this
| cnarter; and they shall have the power
| to authorize the borrowing of money and
| the issuance OF notes and the execution
OF pledges and mortgages, and generally
TO do all things necessary or convenient
| for the proper carrying on Of the business
or the corporation.
Until a general meeting of the stock
| holders for election of directors to be held
| in 1922 or until their duly qualified sue
ceSSOrs are elected and installed. the bOard
OF directors shall be composed of the fol
lowing: }. W. Billingsley, L. o. Address
~ }. Nelson, L. o. Address 403 Whitney
Bldg, New Orleans. La; J. A. Badger, T..
.. Address, Howard Ave, and Constance
SIS, New Orleans, La; Sidney W. SOuers,
4. %. Address, 800 Interstate Bank Bldg,
New Orleans, La; Jos. W. Sheldon, p. q.
Address, $50 Grayier ST., New Orleans, La.
Provided that the board above named
aud any succeeding board may choose ad-
dltional directors within the total nu-
mercial limit of the board whenever such
total limit shall not have been filled by the
stockholders. OF the foregoing directors
J. ". Billingsley shall be president. JOS.
SouerS. secretary treasurer.
ARTICLE NI-This act or Incorporation
may be changed, modified or amended, or
the corporation dissolved, by vote of two
thirds of the entire capital stock present
or represented at a general meeting of the
slOckh Olders convened for such purpose,
after previous notice shall have been given
III the manner above required to be given
OF the annual meeting of the corporation.
ARTICLE Wilt this corporation shall
be dissolved. either by limitation or from
any other cause, its affairs shall be Hqui-
dated 10y three commissioners to be APP
pointed at the meeting of the stockholders
cuE\ ened for the purpose of liquidation.
one of said HquidatOrs shall be elected by
the vote of preferred stockholders, one by
vote of the common stockholders and one
by Il vote of all the stockholders, common
anu preferred voting jointly. Said liquida-
tors shall remain in office until the affairs
OF the corporation shall have been fully
settled and liquidated, and they shall have
fuH power and authority to transfer and
STOCK. The balance of the earnings ii
any, shall be distributed annually 80 per
cent to the holders of preferred stock and
give title to all the property and assets
of the corporation and to distribute the
proceeds. In case of the death. disability
or resignation of a liquidator, the vacancy
shall be filled by Il meeting of the stock
holders IN the manner above provided
ARTICLE VIII-No stakeholder shall
ever he held liable or responsible for TIN,
or faults of said corporation in
any further sum than the unpaid balance
due on the shares of stock owned by him. |
nor shall any mere informally in organiZa-
ton have the effect of rendering this char
ire null of or exposing any stakeholder !
to any liability beyond the unpaid balance |
due his stock.
In order that this charter may serve as |
the original subscription list. the sub |
scribers hereto have indicated opposite |
their respective signatures the number of |
shares of stock subscribed for by each of
them.
There is annexed hereto an accurate. de-
tailed and itemized description of the
property to be conveyed to the corporation
III the payment of certain subscriptions for |
ei9 shares of its common stock, showing
tSe amount. location, extent, character
and state of improvement thereof. together
Derty as appraised by the directors of the
the same consisting of certain
properties heretofore owned or controlled
by the Industrial Housing Syndicate.
Thus done and passed att my notarial
,ffice in the City of New Orleans, State of
Louisiana, on the day, month and year
irst hereinabove written, in the presence
II George HUFF and Robert G. Polack. COM
cribed their names together with me, no.
airy. and the said appearerS, after due
eading of the whole.
Witnesses; George HUFF. Robert G. Pc
ack.
WATTS X. LEvERICH.
Notary Public. |
l. the undersigned Recorder Of Mort
ages, in and for the Parish of Orleans.
he above and foregoing Act of Incorpora-
ion Of the New Orleans Housing Corpora
ion. Inc. was this day duly recorded in
ny office. in Book 1853 folio =. II
Deputy Recorder. {
A true Copy:
WATTS K. LEvERICH.
Notary Public.