The herald., 1921-10-13
CHARTER.

sent director according to the written IN
structions, either general or special OF
said absent director. The board OF w
rectOrs shall have authority TO make anu
establish. as well as alter and amend an
bylaws rules and regulations necessary
and proper for the support ana haHASc
ment of the business and analrs OF lhiA
CORPORATION and not inconsistent with inns
charter: and they shall have the power
to authorize the borrowing OF money anu
the issuance of notes and the eNc'uiLU y,
of pledges and mortgages, and EehcI3lll
to do all things necessary or convenient
for the proper carrying on OF the BUSINESS
of the corporation.
Until a general meeting OF the sio'h
holders for election Of directors TO Dc Atlu
| i'm 1922 or until their duly qualheu SUE
FcrSSOrs are elected and installed, the bOaru
| of directors shall be composed OF the lpl-
/ lowing: j. w. BillingSlcy, 7. Q. Address
Interstate Bank Bldg. New orleans, Ia, ,
\. J. Nelson. =. o. Address 4O5 hlthGE
| Bldg New Orleans, La; j. y badger l.
| -. Address Howard Ave and Constance
SITS New Orleans. La; Sidney W. S0uerS,
| +. q. Address, 800 Interstate BahH 6.u
| New Orleans, La; Jos. W. sheldon, L. -
| Address $50 Gravier St. New Orleans, La.
| Provided that the BOARD above named
and any succeeding board may choose al
! ditional directors within the total nu-
mcrcial limit of the board whenever such
, total limit shall not have been tilled by the
! stockholders. OF the foregoing directors
J. W Rillingsley shall be president Jos.
] u.
SpucrS, secretary
ARTICLE VI-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
stockholders convened for such purpose,
after previous notice shall have been given
in the manner above required TO be given
of the annual meeting of the corporation.
ARTICLE NIIl-If this corporation shall
/ he dissolved. either by limitation or from
any other cause, its AFFAIRS shall be liqui-
dated by three commissioners to be ap-
pointed ut the meeting Of the stockholders
/ convened for the purpose of liquidation.
] One Of said liquidittOrS shall he elected by
1 the vote of preferred stockholders, one by
/ vote of the common stockholders ana one
| by vote Of all the stockholders, common
/ ana 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
| full power and authority TO transfer and
/ stock. The balance of the earnings, II
| any. shall be distributed annually 90 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 meeting of the stock
| holders in the manner SbOvc provided.
( ARTICLE NIII-No stakeholder shall
/ ever be held liable or responsible for tn,
! contracts 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 infOrmality in orEanlZa
ton hav" the effect of rendering this Char
ire null of or exposing any stOckhOldel
To any liability beyond the unpaid balance
due on his stock
In order that this charter may serve a:
the original subscription list. the sub
Scribers hereto have indicated opposite
their respective signatures the number 81
shares of stock subscribed for by each o
them.
There is annexed hereto an accurate, de
t7itil and itemized description of tn
property to be conveyed to the corporation
in the payment of certain subscriptions To-
20 shares Of its common stock, SHOWN!
thr amount. location, extent, characte
and state Of improvement thereof. tOgethe
with the statement of the value of the pro
pcrty as appraised by the directors of tn
corporation, the same consisting OF certain
properties heretofore owned or controlled
by the Industrial Housing Syndicate
Thus done and passed at my notarla
office in the City of New Orleans, state o
Louisiana, on the day, month and yea
nrSt h"reinabOve written, in the preSenc
Of George HUFF and Robert G.. Polack, com
petent witnesses, who have hereunto sub
scribcd their names together with me, no
tary. and the said appearers, after du
reading Of the whole.
| Witnesses: George HUFF, Robert G. 70
lack. ...-
Notary Public.
l. the undersigned Recorder of Mort
cages in and for the Parish of Orleans
State of Louisiana. do hereby certify tina
the above and foregoing Act of InCOrpOra
tion of the New Orleans Housing Corpora
ton, Inc, was this day duly recorded IL
my office. in Book 1858, folio -.
ROBT. SCOTT,
Deputy Recorder
\ true Copy:
WATTS X. LEVERICH,
Notary Public
Z ont OCT