The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-13
CHARTER.

shall or may be necessary and proper to
carry out the objects and purposes of said
corporation.
Said corporation, unless sooner dis
! solved in accordance with its charter.
shall exist and continue for the period of
ninety nine years from and after the date
hereof.
The president. or In his absence. the
vice president shall be the proper person
upon whom citation or other legal pro
cess shall be served, and. in the event OF
the absence of both of said officers, then
| service shall be made in such manner as
| is pointed out by existing law.
| ARTICLE 1.-THE objects and pur-
poses for which this corporation Is or
! ganized and the nature of the business TO
| be carried on by IL are declared TO De the
following, tO-wit: To own, buy, improve
deal in and sell real estate in every branch
and to do all such things as may be IN
| cident thereto; and also TO deal ana trace
| in bonds, stocks, etc. in general, 10 10
everything necessarily done in the invest
mrnt business.
ARTICLE III-The capital stock of the
| and dollars ($j,0OOOO), dollars, DIVIDED
/ into fifty shares OF the par value OF one
hundred dollars each. Stock subscribed
for shall be paid in cash at time OF SUD
| scription.
Any stakeholder may sell. assign or
! transfer his stock i'll this corporation.
provided thirty days prior notice OF
! such intention to sell, assign or transfer
! interested stockholders, and the SAID cor
| poration or other stockholders shall have
| the first privilege of purchasing same;
after which thirty days notice the salu
stock may be sold in open market.
The stock may be transferred under
the above conditions, provided such
| transfer be made on the books OF the
! corporation at its local office IN the clty
| of New Orleans and upon surrender OF
the certificate therefor
! This corporation reserves to itself the
right to increase its capital stock TO One
ARTICLE ". The corporate powers
! of this company shall be vested In ana
| exercised by a board of three directors
| consisting of the President, Nice-Presi-
dent and Secretary Treasurer. Two OF
| said directors shall constitute quorum
for the transaction of business, and their
decision shall be binding and valid cor
| pOrate acts.
| The present incOrpOratorS shall con
Stitute a Board of Directors as provided
| in the charter, and shall choose OthcerS
| from among their own number. The fol
| lowing named incorpOratOrs shall CON
| stitute the officers of the corporation
! until their successors are named ana
! elected. tO-wit: f. J. WaguesPack Pres
| ident; y. J. Clesi, Secretary treasurer
and A. Z. COmmagere, Vice PreSid mt.
/ Said Board of Directors and said ofhcerS
! shall continue in Ofsce until the second
| Tuesday in January, 1923. on which date
and annually thereafter a Board of Direc-
| tors shall lie elected Should the day or
| election fall on a holiday, then the cleo
| ton shall be held on the next legal day
! thereafter.
Notice of such election must be per
| sOnal to the respective stockholders, or
| by notice through mail addressed to the
/ last known place of residence OF the
! respective stockholders. which said notice
must be mailed at least fifteen days be-
| fore the day on which said meeting Is To
| be held.
Any failure from any cause whatsoever
| to elect directors. the day named for that
! purpose shall not dissolve the corpora
! ton but the directors then in office, as
| well As the officers OF said corporation.
| shall hold over until their successors are
! chosen. In such event, the President
shall cause another election to be held
within thirty days, and shall give such
| notice as herein provided.
| At every election and meeting each
! stakeholder shall be entitled to one vote
| for each share of stock registered in his
! or her name, and may vote by proxy
| ballot, and the majority in amount OF
votes cast shall elect the person or per
sons for whom they have cast. AFTER
each election the Board of Directors Shall
choose from among their own number the
officers of the company.
J ARTICLE V. The Board Of Directors
shall have full power to hil vacancies In
their number caused by death. resigna-
ton or otherwise, from among the stock.
holders of the corporation. The SAID
Board shall have full control OF the prop
"
duct manage and use the same as in
! their discretion they deem tit and proper.
| and as is consistent with the objects OF
this company and the. welfare of same.
The said Board Of Directors Is further
authorized to frame and adopt such by
laws. rules and regulations as the aralrs
and business of the corporation may re-
ouire, and as IL may deem necessary Tor
the management and conduct thereof !;
provided the same be not in conflict with
the laws of Louisiana or OF the Cnlteu
States.
! The said Board shall elect or appoint
such other officers, agents or employees
as il may deem necessary for the proper
conduct of its business; fix the salaries
! or compensation and term OF office, with
the right to dismiss them at the pleasure
of the Board: or the Board may delegate
this ministerial duty to any othcer OF
the Board of Directors, or employee or
the company, and the one to whom this
authority is delegated may act for the
Board in the employment OF such agents
and employees, and fix their compensa-
ton and term of office.
The Board shall have the right to fix
and determine the salaries of its own
I officers
ARTICLE VI. This charter may be
changed. modified or amended, and the
capital stock increased or decreased. or
this corporation dissolved at general
meeting Of the stockholders called for
that purpose, acting and voting in ac-
cordance with and pursuant to the pro-
visions of Act 267 OF 1914. herein referred
to.
| In case Of dissolution of the charter.
| hy limitation or otherwise, the liquida-
ton of the affairs of this corporation
| shall be conducted by three commission
ers selected from among the stockholders,
with like assent at a meeting called for
that purpose. Said commissioners shall
| remain in office until the affairs have
been fully liquidated.
| In case of death of one or more or SAID
commissioners, the survivor or survivors
shall act.
ARTICLE VII. No stakeholder OF this
| CORPORATION shall ever be held liable or
| responsible for the debts Of the cOrpor-
| alton or the faults or contracts thereof.
in any further sum than the unpaid Dai-
ance due the company on the shares or
stock subscribed for or owned by him
or her, nor shall any lnformality IN
organization have the effect Of rendering
this charter null or Of exposing a. stock
holder to any liability beyond the I'M
paid balance, IL any, of his stock.
The present incOrporators, in subscrib-
ing for the respective number of shares
of the capital stock Of this corporation
as set forth after their names have MADE
full and complete payment in cash.
Thus done and passed before me. NO.
tary. on the day and date hrst above
written, in the presence OF W. W. Wright
and NJ. !. Rice. competent witnesses, after
due reading Of the whole.
Original signed: F. J. Waguespack.
49s shares; n. J. Clesi, l share; A. f.
COmmagere. / share.
Witnesses:
w w WRIGHT,