The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-24
CHARTER

/
| to cultivate and develop, to lease. rent,
| mortgage. pledge, sell and ALLEVIATE. 10
utilize, enjoy and improve, and generally
| to deal in real estate and lands of every
| character and description together with
all rights ways, privileges and improve
mentS thereon, situated or thereuntO ap-
pertaining.
/ To conduct and carry on such other
business as may he found necessary or
| convenient for properly calculating the
aforesaid privileges or enhancing the value
Of the properties, rights and privileges of
/ said corporation.
! ARTICLE IV-The capital stock of this
| corporation is hereby fixed at the sum of
! six thousand (s6,OOO.OOD dollars. and shall
/ he divided into and represented by sixty
] (6Ol shares of the par value of 10000
| each.
i The said stock shall be paid for in cash
| or its equivalent, as provided by law and
in such manner and at such times and in
/ such inStallments rs may be prescribed by
! the board of directors.
This corporation shall become goinn=
concern and shall be authorized to com
| mence business when three thousand dol
/ lars ($3 600 OO) has in fact been subscribed
and paid for in cash or its equivalent as
/ provided by law.
| ARTICLE V-The capital stock of this
CORPORATION may be increased to the sum
of fifty thousand dollars tSJOOOOOO) dol
lars by a twO-third vote of all the stock
| at a special meeting called for that pur-
pose or at a regular annual meeting OF
the corporation.
ARTICLE VI-All certificates of stock
issued by the company shall be signed by
the president and cOuntersigned by the
vice president, or If authorized by resOlu-
ton of the board of directors, shall be
signed by the president and countersigned
by the secretary treasurer.
The stock of this corporation can he
Transferred only on the books of the cor
puratiOn and subject to such regulations
and fOrmalities as may be by the board OF
directors from time TO time prescribed.
| No stakeholder shall be permitted to sell
or otherwise dispose of his stock without
first offering the same in writing To the
other stockholders through the board OF
directors at price not exceeding the book
value thereof. and the stockholders shall
have an option and first right to purchase
all the shares of stock to he thus disposed
of by sale or by the death, resignation OF
| otherwise of any of the stockholders "i
the corporation, and shall have a period
of ten days in which to accept or decline
! such offer of stock. Should the board OF
directors or the stockholders decline 70
purchase the said stock, then the stock
holder or stockholders who made the Offer
to sell or otherwise dispose of his stock
may sell or otherwise dispose of II in any
manner and at any price that he or theE
may see fit But each share of stock is
issued under the condition and under
standing that no stakeholder shall make
a sale or transfer of his stock in viola
ton of this provision. and such sale OF
transfer if made, shall be void, and tins
company shall be under no obligation "a
list said stock on it's books or to regard
the holder of the certificate thereof.
ARTICLE VII-The corporate powers
OF this corporation shall be vested in and
exercised by a board of directors com
posed of no less than three and no NOR,
than seven stockholders, in the option OF
the board of directors: two to constitute
a quorum in the case of three; four, in the
case of more than three.
The directors Of this corporation may
vote in person or by written proxy at any
| of the meetings of the board of directors
and the board of directors may delegate
any of its powers to any officer or Offlcer'
or any other representative or the com
pany by appropriate resolution 10 that FL
feet.
The first board of directors Of this cor
poration shall be composed of the follow
ing: Alvin f. johnson. Joseph Le'
Rhodes; John W. Hymel Harry u
Johnson and Edwin L. Oliveria, with Off
GERS as follows: Alvin L. johnson, presl
: dent: Joseph Lee Rhodes, vice-preSident
John W. Hymel secretary-treasurer, an'
they shall serve until the second Wednes
, day in January, 1923, or until their sue
, cessors are elected and qualified.
The directors shall be elected annual!
| the second Wednesday of January in eacl
, year.
, Notice of such meeting shall be give
ing in writing and sent to each STOCK
+. holder at his last known address.
Each stakeholder shall, at such annua
= meeting or other meetings, general
special, be entitled in person or by proN
to one vote for each share OF STOCK oWne
by him.
' Elections shall be held under such rule
D and regulations as may from time TO .nn.
= be determined by the board OF directors
. The directors when elected shall hOl
4 office for one year or until their success
sors shall have been elected and quallfle
and failure to hold the annual meeting 9
stockholders or to elect annually the di
rectors shall not operate the forfeiture o
this charter or any rights hereunder.
i ARTICLE VIII-This charter or act o
, incorporation may be changed. modlflec
altered or amended ana win the cohsen
= of two-thirds OF all the stock present a
any meeting, general or special, held 10
y that purpose; and such amendments ma
r he material or immaterial subject onl
q to limitations as may be oy law pro, o','a
f and this corporation shall have the powe
TO increase or decrease its capital stoc
n as hereinbefOre set out. ana any III
/. crease in capital stock in excess OF tn
h amount named herein as the amount !
= which it may be increased, may be mao
: by a three-fourths vote of all outstandlh
: stock.
l. ARTICLE IX-Notice of any and a
meetings referred to in this charter or re
0uired by law, shall be given in the man
: ner provided for giving notices In cas-
e of elections. unless the same shall nav
!. been waived
4 ARTICLE KIN case Of dissolution
N liquidation or termination Of this chaI
: ter, by Limitation or otherwise. the affair
;. | of the corporation shall be liquidated d
A one or more liquidators elected by IN
! stockholders, who may provide the mum
p Der of said liquidatOrs, and vest thel
with such power and authority as may
law be permitted: fix the terms and col
, ditions upon which they shall serve, an
q their compensation. and provide that !
e case of death or disability of any one
) | said Hquidators, the remaining lquidator
: NAV fiji the vacancy or continue to az
u | on behalf Of the corporation.
u ARTICLE XI-No stakeholder shall
u liable or responsible for any costs. cor
II tracts, debts or faults of the corporation
y ! or of any of it's officers, nor shall an
y mere informality in organization have IN
. effect of rendering this charter nun an
= void. or of exposing any stockholders
q any liability beyond the unpaid balanC
], due on the stock held by him.
~ ARTICLE XII-The subscribers heret
u have written opposite their names III
y number of shares subscribed by each
- them, and their post office addresses,
that this charter may serve as the SUI
: scription list of the corporation; all {
= which subscriptions are payable IN III
= manner and form set out herein.
~ Thus done and passed at my Office,
r. the CITY of New Orleans, on the day an
- in the month and year herein first aboN
:, written and in the presence of ii. l.. BAL
- nett and Paul +. Chasez, competent WI
= nesses, who have hereunto signed the
a names with the said appearers and m