The herald. [volume] (New Orleans, La.) 1905-1953, 1921-02-24
CHARTER.

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hereinafter named and undersignaissh esses
SOnally came and appeared the " Per-
whose names are herpuntO Subs,.r;hPSs Isons
Severally declared that availinp thu, Who
of the provisions of the laws Of mis- selves
relative to the organization of ls state
tions and particularly under 40, Voarpora.
1914. of the Legislature of this Sta,coi Of
have formed and organized and tney
these presents form and organic uS BY
selves and those who may Lereaf, .nem-
come associated with them into a cN eI De-
ton for the objects and purposes oUnlIpofa.
der the stipulatiOns hereinafter SCI IN.
viz '' forth
ARTICLE 1.-The name and ti,Io 49,.
corporation shall be New Orleans u ~, this
Company, Inc, and under that nauihg
shall have and enjoy succession for aIe 1t
nine years from the date hereof nnSty'
sooner dissolved. uniess
ARTICLE 1.-THE domicile Of thi.
pOratiOn shall be in the CITY of Va ls cor
leans, La; and all citation or Other vi, VI,
process shall be served on the pras;ssd
or in his absence on the Vice-PrsS;SuNeHnt
ana IN the absence of both, on the SseIH
taTy Treasurer. Secre-
ARTICLE IH.-The objects and
poses of this corporation are hernh p9f-
clared to be, to buy, sell mOrtyaga ue-
change, or otherwise ALLEVIATE or scon 1-
or deal in Real Estate. improved n, fI n
ilHpiONtu III the STATE OF Louisiana
elsewhere. either for itself or for tn VI
count of others, either as DrincinaI at
agent, on commission or otherwise W
also to improve, manage, operate anu
OF otherwise acquire or albndte auy nron
'ftN real or personal; to take sell or mn,
chase mortgages and mortgage nan, pur,
prOmiSSOry notes; to engage i'm tho ,,a aAI
brokerage business and investments 30 std
nature, and to do any and AN at, "n9
.hInES whatsoever necessary or incidentsl
TO. or connected with that line of businasaa'
ana IN fact To engage il any and all Is
innate commercial business witbont WE
restriction whatsoever which a cornoro;i gu!
may do. and generally TO perform an S s,ioH
other acts and things as may be- rpnuiSi,
ana necessary TO carry out its Officers anS
ness. "usi-
ARTICLE Iy-The capital stock of ,A,-
corporation is hereby fixed al tho Snr' ,H ~
hve thousand dollars tS5OOOOO diriae "
into fifty shares of one hundred dniIruu
each which shall be paid for either in nans
OF IN property or its equivalent in sucb In
stallments as the Board of Directors , al-
direct, and this corporation shall han,y
business as soon as twenty five bundsan
dollars is subscribed to its capital stoc,
ARTICLE V.-The affairs of this 90,
p0ratiOn shall be managed by a Hoard :,
directors composed of three stOckboldars
OF whom two shall constitute a 0nornr
nard
OF Directors to be elected Annually on ~
hrst Monday in January, 1922 or as so eoe
thereafter as possible. Each share of
stock shall have one vote in a stockbolS
ers meeting to be cast in person or br
written proxy. As soon as the Road -
Directors are elected they shall immedi.,s
~ select from their number a Presidsnt
Nlce-President, Secretary Treasurer,
and the first Board of Directors shall boii
ONCE until their successors have bean
n +.
directors, by death. absence or inabilitv
10 act from any cause, the same shall he
hlled by the remaining Directors. and the
director to be thus appointed to hold ~.
ton. ''ee-
The first Board of Directors under this
charter shall consist of John W. Cavanab
New Orleans, La; Nelson q. Goreau New,
orleans, La, and Robert l.. McChesnev
NeW orleans, La, with said John W
'aVanah as President; Nelson G.. Gorean
as Vice President. and Robert L. Nc,
whom shall hold their office until the first
Monday In January, 1922. or until their
successors shall have been elected ana
shall have entered into office.
ARTICLE Vino stakeholder shall
ever be held liable for any contracts or
1aults OF this corporation in any further
sum than the unpaid balance due on stock
held by him, if any. ANY stakeholder who
may desire to dispose of his shares ~
stock shall give to the corporation fifteen
days written notice of such intended sale
and shall allow the corporation or any
member thereof the first opportunity Of
purchasing said stock at any bona fde
price offered for the same on the market.
ana no stock transfer or transfer of stock
snail be binding on this corporation nm
less made and entered on the books of the
corporation.
ARTICLE VIII.-This corporation shall
nave the right to declare any subscription
10 stock or shares therein held by a sub
scrlber, forfeited to the corporation I'm
case such stakeholder fails to pay the bal
ance due on said stock for sixty days after
written demand of payment or fails to
pay within said delay, after demand the
instruments due upon said stock: and this
FORFEITURE may be declared by the Board
OF Directors after giving sixty days writ
ten notice to the delinquent stakeholder
by mail at his last known post office ad-
dress.
ARTICLE VIII.-This charter may be
amended or dissolved by a vote of three
Iourths OF the stock represented at gen.
eral meeting held ten days after notice in
writing mailed to each of the stockhold-
ers; and in case of dissolution the Board
or Directors shall acts as liquidators, and
IN case of the death of any of said liqui.
gators the others surviving shall CON-
ARTICLE IX.-The appearers hereto
VINO are the undersigned subscribers de-
clare that they have subscribed to the
Following numbers of shares of the capital
STOCK OF this corporation to-wit:
John W. Cavanah, New Orleans, La, 3
shares; Nelson @. GOreau. New Orleans
La, L share; Robert l.. McChesney. New
orleans, La, ] shares; making total Of
twenty-five (25) shares.
A.. IL.
teen shares out of the twenty three shares
subscribed by the said John W. Cavanah,
as nereinbef0re mentioned. the said Cava-
nan has agreed to and does hereby trans
ier ana convey or cause to be conveyed
by james Il. Vergnes, recorded owner TO
this corporation with full warranty Of
ute, the following described property, TO-
wit:
Ten lots of ground, in the Third Dis
trlct or New Orleans, in Square No. 131,
bounded by Desire, Derbigny, Claiborne
ana Piety Streets, designated as lots Nos:
ID: 10, ~, 20, 81, %, %, "a, q and Is OF
said Square No. 731, measuring as follows:
LOIS Nos. IL, Is, 10 and 20 adjoining each
other, have each 80 feet front on Derbigny
st, by ITO feet in depth, between parallel
lines: Lots Nos; p. %, % and "a adjoin-
ing each other, have each 80 feet front on
Desire Street by 40 feet in depth. between
parallel lines, and Lots Nos. q and y
adJoln each other, and measure each 80
feet front on Claiborne Street, by Ill feet
IN depth, between parallel lines. Lot No.
~ forms the Corner of Derbigny and De-
sire Streets: the whole according to a
sketch or blue print annexed to an act
passed before Robert Legier, notary, dated
November 4th, 1915.
This property is accepted and is to be
accepted by this corporation at the price
and sum of thirteen hundred dollars In
fuli payment by them of thirteen shares
OF the capital stock of this corporation out
OF the twenty-three shares subscribed BY