The herald., 1922-03-30
CHARTER.

laws, they have organized and do by thest
presents organize and constitute them
selves, as well as all other persons who
may be hereafter associated with them
INTO a corporation and body polite il
law. TO enjoy corporate existence during
period of ninety-nine (99D years after
TINS date, unless sooner dissolved, and
under the following stipulatiOns which
they adopt as their articles of incorpora-
ton, or charter, to-wit:
ARTICLE THE name and title of this
corporation shall be the New Orleans
Realty Investment Co, Inc, and its
G dom is hereby declared to be in the
tlty OF New Orleans, State of Louisiana,
ana all citation or other legal process
shali he served on the president. and in
his absence on the secretary.
ARTICLE 1.-THE objects and purposes
OF this corporation. and the nature Of the
business to be carried on by IL. are here
by declared to be as follows: To rent.
dtai IN, purchase, acquire. hold own.
sell or otherwise dispose of. mortgage and
hypOthecate lands and real property OF
every kind and class in the United States.
10 Sub-divide. develop. manage and i'm
prove the same; TO construct, alter and re-
PAIR houses and buildings. and to buy
and sell all kinds of material used by
builders; and generally to do general
real estate business in all its details for
itself or as agent for others; with full
power TO borrow or loan and invest
money secured and unsecured. and in
general to do anything necessary. incl
dental TO and connected with the said
objects and purposes, as well as TO exer-
else all rights and powers conferred on
corporations by Act 261 of 1914.
ARTICLE III-The capital stock Of this
corporation is fixed at ten thousand dol
lars (SlO,OOO.OO) divided into twenty five
CD shares of common stock and seventy
five (15) shares Of preferred stock (pre-
ferred stock TO be non-voting) of a par
value of one hundred dollars (S1O0.OOl
each to he paid for in cash at such time
as the board of directors NAV determine
dered or for property or rights received
by or assigned to the corporation.
The preferred stock shall be entitled
only TO dividends at the rate of not less
than eight per cent $50, as may be de-
cided by a full board. payable as the
board Of directors may determine, which
shall be cumulative.
In case of the dissolution of this cor
pOratiOn. the preferred stock shall be
liquidated at par, before the common
stock, but shall have no further interest
in the assets or profits of the company.
The preferred stock or any part thereof
may be retired by the board of directors.
out of any undivided profits or surplus.
six months from the date of its issuance
or at the end of any succeeding month,
upon the payment to the holder the par
value only and all dividends due to the
date of payment
The capital stock, of this corporation
may be increased to fifty thousand dol
lars (SJ0O0.OOD
No stockholders Of this corporation
shall sell. or offer 10 sell. any common
stock of this corporatin owned by him
until he shall have first offered the same To
each of the other common stockholders
thereof, for period of fifteen Q5l days,
at the book value of said stock. This of
fer shall be made in writing TO the board
of directors of this corporation, through
the secretary, who shall. Tor the purpose,
be considered the agent for the remaining
common stockholders. who shall have the
right to purchase same at said book value
in proportion to the stock owned by them.
ARTICLE IV-All of the corporate
powers of this corporation shall be vested
in and exercised by board a directors
of not less than three nor more
than five las may be fixed by a full board)
stockholders of this corporation, to be
elected at a meeting of the stockholders
held for that purpose, at the domicile OF
the company. on the second Wednesday
in March, of 1923, and annually thereafter.
notice of which meeting shall be given 10
each stakeholder at least fifteen I'D days
prior TO each meeting, either personally,
or by depositing same in the post office
properly addressed. to the last known ad-
dress of each stakeholder. as shown by the
books of the corporation, and who shall
serve until their successors are elected and
qualified. without any informally result
ton
The board of directors Of this corpora
ton shall, Immediately after their cleo
ton and qualification for Office. select
from among their number q president a
secretary treasurer and might select
The first board of direc-
tors of this corporation is declared to be
Of Francis j. Keller, 1910
avenue. New Orleans, La;
Edward y. Ellis. 1923 st. Charles avenue.
New Orleans, La, and Emile A. Leonval.
1891 South Dupre Street, New Orleans. La.
with Edward Il. Ellis as president. Emile
A. Leonval as vice president and Francis
]. Keller as ecretary-treasurer.
The said board of directors shall have
the power to appoint agents and EN-
ployees for this corporation. or to remove
the same at pleasure, TO give and desig
nate any authority to its officers. and
any vacancies in their number, and shall
pake such bylaws from time TO time,
and amend the same as they may deem
sxpedient.
ARTICLE V-Said appearers declare
hat they subscribe respectively, TO the fol-
lowing number and kind Of shares of the
capital stock set opposite their respec-
i've signatures. and this corporation may
begin business at once, the necessary
amount of stock being subscribed and
ARTICLE yI-This charter may be
the capital stock thereof in
creased or decreased, or this corporation
dissolved. in accordance with the Irovi-
sions of Act 267. or subsequent laws, of
he Legislature of the State of Louisiana
for the year 1914.
Thus done and passed in my office Mt
New Orleans, Louisiana, in the presence
Of Juliette Pailhes and Mabel Bell. COM
petent witnesses, on the 22nd day of
February, 1922, after due reading of the
whole
witnesses: Juliette Pailhes, Mabel
Bell.
(SeaD: MEYER S. DREIFUS,
Notary Public
l. the undersigned, Recorder of Mort
cages in and for the Parish of Orleans,
State of Louisiana. do hereby certify that
he above and foregoing Act of Incorpora-
ton of the New Orleans Realty Invest
nent Co., Inc. was this day duly recorded
N my office in Book 126S. folio -.
New Orleans March Odd. 1922.
(Signed): ROBT. SCOTT,
Deputy Recorder.
4 true copy:
(SeaD: MEYER s. DREIFUS,
Notary Public.
Mar. 30-May 4