The herald., 1922-11-23
CHARTER OF NEW ORLEANS INDUS
TRIAL CANAL LAND AND HAIR
ROR DEVELOPMENT CO., INC.


isiana, Parish of Orleans, City OF New
Orleans Be it known, that on this 18th
day of the month of October, In the year
| of our Lord one thousand nine hunureu
and twenty two, and of the independence
of the United States of America. the on"
hundred and forty-seventh, before me,
William J. Guste, notary pubic, unly
commissioned and qualihed, In ana Ioi
the Parish of orleans, State OF Louisiana,
| therein residing, and in the presence or
the witnesses whose names are hereunto
| subscribed. personally came ana appeared
the several persons whose names are mere
| unto subscribed, all of full age, VINO
! seyerally declared to me, notary, tnat
| awaiting themselves of the laws OF this
state relative to the organization OF corpo,
/ rations. they have covenanted ana asreeu
| and by these presents do covenant anu
agree and bind themselves as wen as ar
| such other persons who may hereafter be
come associated with them 10 form Il cor
| poration for the objects and purposes anu
| under the articles and stlpulatlohs io
lowing. which they hereby adopt as their
| charter. to-wit:
| ARTICLE 1.-The name of this corpo-
| ration shall be New Orleans Industrial
Canal and Harbor Development % M;
and under its corporate name II shai,
have power and authority 10 na ar;oa an" Of
enjoy corporate existence for period Oh
! ninety nine years from date hereof, uh
less sooner dissolved by hquidatlon VI
otherwise 1t shall have power 10 con,
| tract. to sue anu DE sucus "
use corporate seal and to alter ano
break the same at pleasure; to purchase,
/ receive, lease, hold or otherwise ACQUIRE
and convey as well as mortgage ana ny
pothecate under its corporate name, prop,
erty. real. personal and mixed corporeai
and incorporeal; to borrow money anu "
make and issue bonds and otner eNiuehce
of Indebtedness, and If desired, to secure
the same by mortgage and otherwise, 10
buy and hold stock in other companies
incident to the objects and purposes VI
the expansion Of the business interest vi
the corporation: to name, eject anu aP
point such managers agents, directors
and officers, as the interest and conveh-
fence of said corporation may REQUIRE,
and to make and establish as Wen as ai,eI
and amend at plesure such Dy-iaWs, TUFTS
and regulations for its proper government
as NAV be deemed necessary and proper
and generally to do any ana all thihss
incident to or necessary and proper Ior
the interest of the business OF the cor
poration.
ARTICLE 1.-THE domicile Of this cor
marathon shall be in the City Of New Or
leans in the State Of Louisiana, ana an
citations and other legal process shaIi pe
served upon the president of the corpora
ton. and in the event of his absence upon
the secretary.
ARTICLE III-The objects and pur-
noses for which this corporation Is es-
tablished and the nature OF the business
to be carried on by it are hereby declared
".
hypothecate, cucumber. lease and ALLEVIATE
property of all kinds, real personal anu
mixed, either as owner, trustee, prlnclpai'
agent or broker, reclaim, develop, eApl1i.
advertise drain. irrigate and otherwise
handle use or develop real estate ana IN
terests of all kinds therein; to construct
utilize. own and operate drainage anu
navigation canals, channels, or slmliar
constructions, and in connection therewith
to own. operate and maintain pumps;
dredging machinery, boats. barges anu
vessels and floating equipment OF an
kinds; to lay out, develop ana handie VII
lage sites town sites and manufacturing
sites and to a general contracting busi-
ness; to buy, sell or otherwise acquire or
ALLEVIATE, cucumber or hypothecate STOCKS
bonds. rights, certfncates, oongationS;
kinds. corporate or otherwise. to exchange
its entire capital stock or any part there
of for property which II Is authorized TO
acquire; to exchange its entire assets ana
business or any part thereof for property,
stocks or other obligations Of other com
panies, firms or individuals; to carry on
all operations and to do all things Incl
dental to or convenient for the accom-
pIishment of any of the foregoing pur-
poses.
ARTICLE Iv-The capital stock Of this
corporation is hereby fixed at the sum OF
one hundred thousand C$100,000) dollars,
and shall be divided into and represented
by one thousand shares Of the par value
Of one hundred (s100.00) dollars EACH
The said stock shall be paid for in labor
done or money or property actually re-
manner and at such times and in such
installments as may be prescribed by the
board of directors.
This cooperation shall become a going
concert and shall be authorized to com
mence business when fifty thousand ESQ.,
OO0) dollars stock has been subscribed for.
Tho corporation may hereafter by. ap-
propriate action Of it's stockholders issue
9TH oil nf cfA IN q
disposed Of and redeemed upon such con-
ditions, and having such rights and privi-
leges as may be determined by the stock
holders when authorizing such issue.
ARTICLE v-The capital stock Of this
corporation may be increased up to the
sam Of FIVE million $4,000, 000,o0) dollars
by a two-third vote Of all the stock at
special meeting called for that purpose
or at a regular annual meeting OF the
corporation, and any such increase may
he made in whole or part in one or more
classes Of stock.
ARTICLE vI-The stock Of this cor
poration can be transferred only on the
books Of the corporation and subject to
such regulations and formalities as may
be by the board Of directors from time
to time prescribed.
ARTICLE vII-All the powers Of this
than directors. each Of whom shall own
Mt least one share Of the common stock.
The precise number Of directors within
the limits above stated shall be fixed at
the annual meeting Of the stockholders
or at special meeting called for that
purpose; provided that in the interval
between stockholders meetings the board
itself may elect additional directors with
In the maximum number above provided |
II the stockholders shall not have elected |
the same. The majority Of the board shall |
constitute quorum. The said board of
directors shall be elected annually at a |
meeting Of the stockholders to be held an |
nuaily on the third Wednesday Of jan
uary OF each year. beginning with the |
year l925, Tor the next legal day II that |
day be holiday after notice given to |
each stockholder by mail at least fifteen |
Gays before the date Of the meeting, ad- |
dressed to the last designated address Of |
the stockholder, or II he or she has desir-
nate no address, then to the General ne.
livery. New Orleans. Special meetings Of |
the stockholders may be called by the
board at any time and notice thereof shall
De given In the manner provided for an
nual meetings.; provided that In ali cases
all notices may be waived by unanimousl
consent. Each holder of common stock
shall be entitled to one vote for each
share Of common stock standing in bisl
name on the books Of the Corporation.
SAID vote to be cast IN person or by
proxy and majority Of the votes cast
snail elect. Failure to elect directors on
the day above specified shall not dissolve
tne corporation, but the directors then in
onice shall remain In Office until their euc L
cessors are elected. The board o. direc.
tors shall have power to All an vacancies
which may occur or In any manned NAV
arise or be created ON the board. even
tnouGn no Quorum remain ~ xhn 49,