The herald. [volume] (New Orleans, La.) 1905-1953, 1922-11-30
CHARTER OF NEW ORLEANS INDUS
TRIAL CANAL LAND AND HAIR
RnR nEVEInPMENT CO INC

United States Of America, State OF Lou
isiana, Parish Of Orleans, City Of New
Orleans. Be ii known, that on this 19tl
day of the month Of October. in the yea
OF our Lord one thousand nine hundre'
and twenty-five, and Of the independence
Of the United States of America, the on
hundred and forty seventh, before me
William ]. Guste, notary public, dul,
commissioned and qualified, In and fo
the Parish of Orleans, State of Louisiana
therein residing, and in the presence Of
| the witnesses whose names are hereuntt
subscribed. personally came and appeared
the several persons whose names are here
unto subscribed, all OF full age, who
| severally declared to me, notary, tha
| availing themselves Of the laws OF thi'
! state relative to the organization Of corpo,
! rations they have cOvenanted and agreed
and by these presents do covenant and
agree and bind themselves as well as al
such other persons who may hereafter be
come associated with them to form cor
under the articles and stipulations fol
lowing, which they hereby adopt as their
charter. to-wit:
ARTICLE 1.-The name Of this corpo-
ration shall be New Orleans Industrial
Canal and Harbor Development Co, Inc.
and under its corporate name 1t shall
have power and authority to have and
enjoy corporate existence for a period OF
ninety nine years from date hereof. I'M
less sooner dissolved by liquidation or
otherwise. IL snail nave power 10 Soh-
tract, to sue and be sued; to make and
use a corporate seal and to alter and
break the same at pleasure; to purchase.
receive, lease, hold or otherwise acquire
and convey as we'll As mortgage and ny
pothecate under its corporate name, prop.
erty, real, personal and mixed, corporeal
and incorporeal; to borrow money and to
make and issue bonds and other evidence
Of Indebtedness, and IL desired, TO secure
the same by mortgage and otherwise; to
l. III ztrl
incident to the objects and purposes or
the expansion Of the business interest OF
the corporation; TO name, elect and ap-
point such managers agents. directors
and officers, as the interest and conven.
fence Of said corporation may require,
and to make and establish as well as alter
and amend at plesure such bylaws, rules
and regulations for its proper government
as may be deemed necessary and proper,
and generally to do any and all things
incident to or necessary and proper for
the interest Of the business Of the cor
poration.
ARTICLE 1.-THE domicile Of this cor |
poration shall be in the City Of New Or.
leans in the State Of Louisiana, and all
citations and other legal process shall be
ion, and in the event Of his absence upon
he secretary.
ARTICLE III-The OBJECTS and pur-
poses for which this corporation is es-
ablished and the nature Of the business
o be carried on by 1t are hereby declared
% be to buy, sell and otherwise acquire,
lypothecate, cucumber, lease and ALLEVIATE
property of all kinds. real, personal and
mixed, either as owner, trustee, principal,
gent or broker, reclaim, develop. exploit,
idvertise, drain, irrigate and otherwise
landle, use or develop real estate and IN
erests Of all kinds therein; to construct,
Utilize. own and operate drainage and
navigation canals, channels, or similar
m of In fhQrQwifhl
o own. operate and maintain pumps:
redging machinery, boats, barges and
essels and floating equipment Of all
inds; to lay out, develop and handle vii
age sites, town sites and manufacturing
ties and to q general contracting busi-
ess: to buy, sell or otherwise acquire or
lienate, cucumber or hypothecate stocks,
onds rights, certificates. obligations;
inds corporate or otherwise, to exchange
Is entire capital stock or any part there
{ for property which 1t is authorized to
cquire; to exchange its entire assets and
tocks or other obligations of other COM
anies, firms or individuals: to carry on
II operations and to do all things Incl
entail to or convenient for the accom-
lishment Of any Of the foregoing pur-
oses.
ARTICLE Iv-The capital stock Of this 8
orporation is hereby fixed at the sum Of {
ne hundred thousand ($100,000) dollars, I
nd shall be divided into and represented
y one thousand shares Of the par value ]
The said stock shall be paid for in labor q
one or money or property actually re- o
eived as provided by law. and in such s
,anner and at such times and in such t
GARD Of directors. I
This corporation shall become a going
Dncern and shall be authorised to COM q
ence business when fifty thousand ESQ., {
w dollars stock has been subscribed for. q
Tho corporation may hereafter by aP- v
or other classes of stock to be Z,
sposed Of and redeemed upon such con- +,
tfons, and having such rights and privi- G.
ges as may be determined by the stock n
olders when authorizing such issue. b
ARTICLE v-The capital stock of this G.
'rporation may be increased up to the W
I'm Of five million (S5.O00, OOO,oO) dollars p
: two-third vote Of all the stock at a p
'ecial meeting called for that purpose p'
at regular annual meeting Of the al
rporation, and any such increase may te
made In whole or part In one or more to
,sses Of stock. al
ARTICLE vI-The stock of this cor la
ration can be transferred only on the n
oks Of the corporation and subject to m y,
Oh regulations and formalities as may OIL
by the board Of directors from time
time prescribed. d,
ARTICLE vII-An the powers Of this N
rporation shall be vested in a board ci
imposed OF not less than nor more sc
an directors, each of whom shall own pc
least one share of the common stock. re
lie precise number of directors within
limits above stated shall be fixed at DC
annual meeting Of the stockholders o.
at special meeting called for that he
rpose; provided that in the interval r,
tween stockholders meetings the board do
eif may elect additional directors with co
the maximum number above provided m,
the stockholders shall not have elected Oh
same. The majority Of the board shall m,
nstltute quorum. The said board of No
rectors shall be elected annually at, a on
citing OF the stockholders to be held an mi
any on the third Wednesday Of Jan
ar 1923, Tor the next legal day IL tnat In
y De a holiday after notice given to Ia,
n stockholder by mail at least fifteen
VS. before the date Of the meeting. adj
,ssed to the last designated address of trs
stockholder, or II he or she has desie.
e no address. then to the General De- c Ta
Try. New Orleans. Special meetings Of wa
stockholders may be called by the pr
I'D at any time and notice thereof shall I'M
given in the manner provided for an
u meetings; provided that in ali cases col
notices may be waived by unanimous on'
sent Each holder Of common stock div
II be entitled to one vote for each Of
re OF common stock standing In his ~
ne on the books Of the corporation. mo
vote. to be cast IN person or by car
~ and q majority Of the votes cast fix
u elect. Failure to elect directors on the
day above specified shall not dissolve sto
corporation. but the directors then in PAL
e shall remain In Office until their sue rec
ors are elected. The board Of direc- aoI
snail have power to flll all vacancies the
3 or he creafa6 IN tha hc..S ~