The herald. [volume] (New Orleans, La.) 1905-1953, 1921-09-29
CHARTER.

sent director according to the written in.
| structions, 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 TINS
corporation and not inconsistent with this
charter; 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
of 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: j. W. Billingsley, L. o. Address
Interstate Bank Bldg, New Orleans, La.
~ j. Nelson, L. o. Address 403 Whitney
Bldg, New Orleans, La; j. y. Badger, L.
o. Address, Howard Ave, and Constance
SITS, New Orleans, La; Sidney W. SOuers,
Il. .. Address, 500 Interstate Bank Bldg,
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 ad-
ditiOnal 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
y.
W. sheldon, vice-president and Sidney W.
SOuerS, secretary treasurer.
ARTICLE NI-ThiS act or Incorporation
may be changed, modified or amended, or
the corporation dissolved, by a 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 Nlll-lf this corporation shall
be dissolved, either by limitation or from
any other cause, its affairs shall be liqui-
dated by three commissioners TO be APP
pointed at the meeting of the stockholders
convened for the purpose of liquidation.
One of said liquidatOrs shall be elected by
the vote of preferred stockholders, one by
vote of the common stockholders and one
by 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
1u!l power and authority to transfer and
stock. The balance of the earnings, if
any, shall be distributed annually 30 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 iquidator, the vacancy
shall be filled by meeting of the stock
holders in the manner above provided.
ARTICLE NlII-NO stakeholder shall
ever be held liable or responsible for the
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 organiZa-
ton have the effect of rendering this char
tire null of or exposing any stakeholder
to any liability beyond the unpaid balance
due on 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
IN the payment of certain subscriptions for
249 shares of its common stock, showing
the amount, location, extent, character
and state of improvement thereof, together
with the statement of the value of the pro-
perty 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 at my nOtarial
office in the City Of New Orleans, State of
Louisiana, on the day, month and year
first hereinabove written, in the presence
If George HUFF and Robert G. Polack, COM |
Detent witnesses, who have hereunto sub |
'cribed their names together with me, no |
airy; and the said appearers, after due
reading of the whole.
Witnesses: George Huff, Robert G. Po-
ack.
WATTS K. LEvERICH,
Notary Public.
i, the undersigned Recorder of Mort /
yages, in and for the Parish of Orleans, |
state of Louisiana, do hereby certify that |
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 1858, folio -.
ROBT. SCOTT,
Deputy Recorder.
true Copy:
WATTS X. LEVERICH,
Notary Public.