The herald., 1921-09-22
CHARTER.

, ARTICLE The name and title of thii
corporation shall be New Orleans Housnl
Corporation, Inc, and under its corporal,
Name Ii shall ENJOY succession for the ful
term anu period OF ninety nine years from
ANA AFTER the date nereOI, ana shall hav,
power and authority To contract, sue anC
Led; to accept and receive mortgages
pledges or Uturr ny pOtncCdLIOnS 10 max,
ana use corporate seal and the same e
break anu alter at pleasure; TO purchase
receive lease, hold or otherwise acQuir,
pothecate under its corporate name, pro.
perry both real, personal and mixed; Il
| borrow money and make and issue bonds
ana other evidences of debt and to secure
the same by mortgage and otherwise; tC
| subscribe TO and hold stock in other cor
| porauons; to acquire, hold and reissue
shares Oh ITS capital stock; TO carry out all
OF the objects and purposes hereinafter
| set out; TO name and appoint such man
| ayers and directors, officers and agents
| as the interest and cOnveniences of said
| corporation may require; and to make and
establish, as well as alter and amend at
! pleasure such bylaws, rules and regula-
| tons tor the management and regulation
OF the affairs of the corporation may be
necessary, proper or convenient; and
generally to do all such acts and things
| as trading corporations are authorized TO
40 under the laws of the State of Louis
| lana.
ARTICLE 1.-THE domicile of this cor.
| poration shall be in the Parish of Orleans
State of Louisiana, and all citations or
other legal process shall be served upon
the president of the company, or, in his alb
sence, upon the vice president
ARTICLE III-The objects and purposes
Tor which this corporation is organized
and the nature of the business to be car
ried on by it, are hereby declared to be
to buy, sell, lease, exchange, hold and dis
pose or real estate; TO erect, construct,
repair, equip and improve houses fac
tories warehouses and other buildings; to
manage lands and buildings; to develop
m Nvhi ah
the company is interested In any manner
ana In particular by laying out and pre-
pairing the same for building purposes,
constructing, altering, decorating, main
tanning, furnishing, fitting up and improv-
ing buildings, and by paving and drain
ing the companys properties. and by ad-
vancing money TO and entering into con.
proper in its judgment for the conduct,
support and management of the business
and affairs of said corporation.
The board shall have full power and au-
thorlty to borrow money, to execute mort
cages and to create liens; to issue bonds.
tracts and arrangements with builders,
tenants and others: to construct maintain
develop and operate hotels, restaurants,
amusement places, parks, stores, shops,
dairies and any other works or conyen-
fences which the company may consider
directly or indirectly conducive to its
housing projects and real estate develop
ment; TO acquire and hold stocks, bonds,
obligations and securities of other cor
poratlons: to exchange its entire capital
stock, or any part thereof, for property
which ii is authorized to acquire; to ex-
change Its entire assets and business, or
any part thereof, for property, stocks,
bonds or other obligations of other com
panies, firms or individuals; to buy, sell
and deal in personal property of all sorts:
10 construct, acquire and operate trans
portation facilities for the service of its
housing and building enterprises, and
generally to do all such acts and things
as a general trading corporation under the
raj 0f niSla 10
lied to do.
ARTICLE 1V-SectiOn l. The capital
stock of this corporation is hereby fixed
at the sum of one hundred thousand $780, |
oVOV0) dollars, divided into one thousand
llOoO) shares of the par value of one hun |
dred (SlOOO) dollars per share. Of which |
five hundred (50Ol shares shall be pre-
ferred stock and five hundred 5000 shares |
snaI De common stock. This capital stock |
may be increased to five hundred thousand |
tSoOOOOOOO) dollars, to be divided between
the preferred stock and common stock as |
may be determined by vote of the stock
holders at the time of such increase
Section The holders of the preferred
stock shall be entitled to receive, when
and as declared, from the net profits of the
corporation, by preference and priority
over the common stock, dividends at the
rate of eight per centum (SoZD per an
mum, payable annually, on the list day OF
January OF each year. Dividends on said
preferred stock shall be cumulative from
any dividend be declared, set apart for
Or paid on the common stock unless at
such time all dividends on the common
STOCK at the rate of eight per centum (sq6D
Der annum which shall have matured shall
have been declared and paid in full and
provision made for the proportionate part
Of said dividend for the pending year
section .. After payment of the cumu-
ative dividends above provided for upon
he preferred stock, the common stock shall /
De entitled to receive dividends at the rate
pr elght per centum (So6) per annum,
After the payment in any
year or a dividend of eight per centum
DS%l to the common stock, the preferred
STOCK and the common stock shall share
equally In dividends from any further
earnings II each share of preferred and
'ach share of common stock to the entitled
% the same amount of dividends from
such further earnings.
. Section 4. In the event of any Iiouida-
,oInr t dissolution or winding up, whether
.ion, the holders of the preferred stock
man be paid in full by preference over
ne common stockholders the par value of
, ne,a snares, together with all accrued and
unpaid dividends at the rate Of eight perl
ehtum toIo) per annum. After such pay | ,
nent the common stockholders shall be
ntltled TO receive the par value of their j
mares; and any surplus then remaining | ,
hall be divided equally between the pre- :
erred stock and the common stock, each !
mare OF preferred and Ior common stock :
eceiFihs the same amount from such !
urplus.
Section 5. The capital stock, both pre- a
erred and common, shall be represented | {
y certlhcates, shall be full paid and nom
sSessaole when issued, and shall be issued C
my Tor property actually received. to be {
aid at such times and in such amounts and n
Iter such notice as may be determined by g
ne board Of directors. The whole of the pre- a
Erred and common stock of this CORPORA a
on or any part thereof, may be issued | p
no delivered to any person, firm or cor b
oraton Tor the acquisition Of rights. a
rNileges, property, business or good will | u
r any part thereof owned or Controlled G.
such person, firm or corporation The G
oard hereinafter created Is specially au- c.
lorlZed 10 issue and dispose of stock for | a
ny ana all OF the purposes above stated a
IN It's judgment may seem fair and C,
roper, and is particularly authorized to e.
sue ana dispose Of such stock in ex- Il
iange Tor property heretofore owned or r,
'ntrolied by the Industrial Housing Syn Il
cate. of New Orleans M
ARTICLE YAH Of the powers of this
'rporatfon shall be vested In a board com. D.
'sed of not less than nor more than d. lie
ctors. The precise number of directors "a
ithln said limits shall be fixed from time II
une oy vote of the stockholders at the CT
inuai meetings, or at a special meeting ID
lied for that purpose; provided, that in OF
e interval between stockholders meet al
gs the board itself may elect additional OF
rectors within the maximum limit above nj
divided If the stockholders shall not have
ected the same. majority of the board fo
ian constitute quorum. Said board al
directors shall be elected annually "A A | ri
ockholders meeting to be held ANNUALLY ca
!, the onlee of the corporation on the d.
nrd Tuesday in January of each wear | n,
!. |. the next legal day If that be holiday al