The herald., 1922-12-14
CHARTER OF
JACOB l.. WE'LL REALTY AND
-

Be IL known tnut on TINS 9tn uay oi
december, nineteen hundred anu ,"en.y :,
two (ly22), before me, Emanuel Leopoiu
we'll notary public, uuly commls
stoned and qualified, In ana Ior this
parish ami state, ana In the presehCe
a., undersigned competent witnesses, per.
sonnIIy appeared Jacob l.. We'll, samuel
A.. N ell, emanuel l.. We'll. solomon IL.
| N ell AMI Isaac Il. We'll, all Oh run age
anu residents of this parish anu state,
nno declared that, awaiting themselves
of the laws OF InIs state relative TO the
organization of corporations, they nave
formed and organized ana 40 heIeoy
form themselves as well as such other
persons who may hereafter JOIN WIN
mem. or their successors, into and con.
stItuIe Il corporation TOR the OBJECTS ana
purposes ana under the stlpulatiOns anu
agrt ements as follows: -,
ARTICLE 4. Inc name and title OF
this corporation snail be jacob l.. We'll
Realty and Investment Company, lncor-
porated; its dOmicile shall be III the city
of New Orleans, La, ana IL snail ENJOY
ITS corporate name an existence for q
period OF ninety nine years from and
after the date OF tins act. Ii may have,
nolu, purchase, sell, convey, lease, rent,
pledge or mortgage property, personal,
movable and hnniOyaDle; sue ana De
sued and may have a corporate seal.
ARTICLE H. Service OF citation and
all Otner legal process shall be made
ON the corporation through its president,
or, in his absence, through the vice.
ats secretary.
ARTICLE III. The objects and pur-
poses for which this corporation Is
organized and the nature Of the business
to be carried on by it are declared to
ne: To purchase, own, improve and sell
real estate; TO build, erect, sell or lease
houses Tor dwellings, or other purposes;
TO purchase or sell any class of nego-
table paper, and generally TO engage in
such business incidental to the purposes
herein declared, including the power TO
borrow money ana secure the same by
mortgage or pleuge on any OF the prop
erty hereunder acquired, and to issue
bonds or notes therefor.
ARTICLE ~. Inc capital stock OF
this corporation Is hereby declared to
De the sum of Eighty-tve Thousand Dol
lars ($SJ,UOOUO), divided into eight hun.
dred ana nifty shares of One Hundred
Dollars ($lOOOO) each. which shall be
fully paid tor when subscribed IN casn,
property or services rendered, or for the
purchase OF property, as the Board OF
DirecIUrs may direct. All shares of stock
shall be full paid aud non assessable.
ana no transfer of stock shall be binding
on the corporation unless recorded on
their books.
This corporation shall have the right
to organize and commence business when
Forty -IOur Thousand Dollars (S44, 0O0.OO)
of the capital stock has been subscribed,
and the remainder of the capital stock
snail thereafter be issued at such times
ana paid tor in such manner as the
poard of Directors prescribe, provided
that no stock snail be issued until the
same Is fully and legally paid for in
money, property or services.
When any shareholder desires to sell
his stock IN this corporation, the other
shareholders shall have the privilege of
purchasing same in proportion to the
shares owned by them at the price Of
tered in good faith in writing by an
outsider and submitted to the Board of
directors; and II no price is offered by
an outsider, then the remaining share
holders have the privilege of purchasing
same ut the book value thereon, together
with any accrued dividend. This priv
:lege to purchase to shareholders is good
only within ten (l0) days after nOtih-
cation thereof by the secretary in writ
ing. and IL they do not take advantage
OF the offer to sell, any outsider may
ARTICLE V. All the powers of this
corporation shall be vested in and exer-
cised by board OF five (5) directors of
whom three (S) shall constitute a quorum,
all OF whom must be stockholders.
The present ibcorporators shall con-
stitute the first Board of Directors and
mold office until the first Thursday in
January, 1924. or until their successors
have been elected and qualified
The officers Of this corporation and
their addresses and the number of shares
of stock they hold are as follows:
Jacob l.. We'll. President, 2lS7 st
shares; Samuel l.. We'll, President,
2137 st. Charles avenue, New Orleans.
La, l share; Emanuel l.. Well Secretary
Treasurer; Bienyille Apartments, New
General Manager 1916 Robert street,
New Orleans, La, 1 share; Isaac L. Well
40 Peters avenue, New Orleans. La, /
Voting for directors shall be by ballot
and each stakeholder is entitled to cast
enc ID vote for each share owned by
MN which has oeen in his name at least
Ten DAYS prior to the day of election.
In event any director shall die or re-
sign before the end of the term Of his
oInce, the vacancy may be filled by the
remaining director by the election of a
q qsaI1 stockhoider in his place. who
elected at the next annual meeting.
FAILURE to hold the election on the
speclned day shall not dissolve the cor
P Poid put the directors in office shall
aoId over until any future election. The
a aii shall elect from their number
All their officers. and shall appoint ami
snd tS.v all their agents and employees,
Of ,h baey may De retained at the pleasure
~. lhe board. They shall enact all by-
law, hws rules and regulations, and have
the power to acquire, sell or mortoaoe
s snsh PROPERTY, real, personal or mixed, on
sn may deem advisable, and to nav
Tor same in cash or i'm fnll na,d pay
OF this corporation. p"'u s'och
ANY two officers of this oornorst,on
General IaVSn as and the duty Of the
, manage an property and to sell sams
uhaer conditions imposed by tho hoa.S
Any OF the directors may delegate -
ahvther director In writing any ~ M
s srsh's a, and powers enjoyed by him as
AhTICLE VI This act of incorno-..
az o,oh ,h may be changed, modified or altered
a. ,inseung OF the Stockholders therscs
aIl.V especially for that purnosa o.
Ewing ten (l0) days notice in wr,,,On VI
nj ur ~ advertisements in any daily nanas
xPTneC1, IN tins city.
this charter or its dissolution OF
thsr for, the business and asy.isa IN
the vUrporatoin shall be liquidated ma.
or s,uPervislon Of three (3) commissior
~ eiecsed from smong the stocthoSdonn-
nosa general meeting called for that u,
or advart sr Ten tiO) days written natica
event OF death Of any comm,sps aips. IN
snnnag commissioners shall a.. tne
ARTIr, from the stockholders. =
, "A VIII. No action q, 49,.
hindsns at any meeting shall he x.i, tock-
is "r rans unless the majority of the 10, OF
by nro1T and present In person -.
present Or ana tnIee -fourths Of the stoct
diss,.,,or amend this charter nr alre:-
ARTgcss same, or to do any Other oot 10
Hail. ICLE TX. No stockho,Jer - ac,.
the or, OF IN any manner resnons;hinh DC
tion baxaaets or faults of the corn Tor
owned nv Nm, any unpaid balance on s stnct
Iormaiity in this act bsra any mere in
snW ae stng this charter void or e enect OF
ths ocknoider TO any liabiJjtr posing
Th amount Of their stock beyond
the citv 20 ana passed in INV ose,. :.