The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-19


State of Louisiana, Parish of Orleans,
City of New Orleans. Be il known and
remembered that on this 9th day of the
month of January, in the year 1872, be-
fore ME, Herbert W. Kaiser, Notary
Public, duly sworn, commissioned and
qualified, in and for the Parish and State
aforesaid and in the presence of the wit
nesses hereinafter named and under
signed, personally came and appeared the
persons whose names are hereunto sub
scribed, who declared that, availing
themselves of the provisions of the laws
OF this State relative to the organization
of corporations, and more particularly
to Act 267 of the General Assembly of
the State Of Louisiana, for the year 1914.
they have covenanted and agreed, and
do by these presents covenant and agree
to bind, form and constitute themselves,
as well as such other persons as may
hereafter join or become associated with
them, into an association and body pol
itic in law, for the objects and purposes
and under the agreements and stipula-
tions hereinafter set forth, to-wit:
ARTICLE l. The name and title Of
this corporation shall be ECONOMIC
REALTY CO., INC, and under that name
it shall have and enjoy all the rights
privileges and advantages conferred by
the State of Louisiana on corporations
in general, and shall exist for period
of ninety-nine years, unless otherwise
uiSsOlNeu, organizing lrOm udte OF THIS
act of incorporation. 1t shall have power
and authority to sue and be sued, to
buy and sell, hold, own, lease, mortgage
and hypOthecate and pledge property
real, personal and mixed; to name, elect
and appoint managers, directors ana
clerks and other employees to properly
conduct its corporate business, and TO
make bylaws. rules and regulations as
may be found necessary or desirable for
the management of the corporation, and
snail do everything to correctly carry
out its objects and purposes.
ARTICLE III. The domicile of this
corporation is hereby declared to be the
City Of New Orleans. State of Louisiana.
All citations and other legal process shall
De served upon the President, and in the
absence of the Vice-President, and in the
absence Of both OF them, upon the
SecreIary- Treasurer of the corporation.
ARTICLE III. The objects and pur-
ized and the business to be Conducted
Dy IL are declared to be to buy, sell or
otherwlse acquire and ALLEVIATE real estate
ana lands; to lease, release real estate
ana lands, to mortgage and hypotbecate
the same, and to do general real estate
anu Iahd business, and to do any and
al SUCH acts and things as NAV or shall
DE necessary and proper to carry ont
Saiu 0Dgects and purposes.
ARTICLE ~. The capital stock ~
shis corporation is hereby fixed ut
Seventy-nve Hundred Dollars (S75OO OM
uNided into and represented by X
shares at the par value of $4,000 per
snare' with the privilege Of increasing
same 10 SlO,OO0OO. And this Corporation
shaii De going concern when & on M
OF the capital stock shall have been snh
scriDed and paid for. Said stock shall
oe represented by certificates of STOCK
10 De paid for in cash, or its eouiyaIeni
IN property, as the Board of Directors
snail see fit and proper. All shares sbaII
De full-paid and non-assessable NJ
stockhoider shall have the right TO sell
VI otnerwise dispose of his stock in this
corporation without first Offering same
70 THIS corporation and to the Individual
members OF this corporation, at the book
Vaiue thereof, and this corporation is
aulnorized to purchase said stock at said
uook value for the benefit of the otbar
- Of the corporation. SbonId
.ne corporation decline to purchase SAID
s,ock' the shareholder shall have tba
rIght OF option to offer said stock fo,
SAFE TO any other person or persons Arm
or corporation. "s' nrin
ARTICLE V. All the corporate nowe-s
u tnis corporation shall be vested an
ana TO the management and control ~
De BUSINESS and affairs conducted bv a
Doard or Directors, composed of NOT iess
tnan three stockholders. Said Directors
snail De elected by ballot at a oena,aI
meeting OF the stockholders to be held
on the 9th day Of January, 1922. ana an
nuaiiy thereafter on the frst Tuesday IN