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

character and value of their services. 1t
may make and establish bylaws. rules
and regulations not inconsistent with this
charter or any existing laws, fixing and
altering the management of its property
the regulation and government or It's
affairs, and the manner OF certlflcatlOn
and registration of its stock. 1t may
wind up and dissolve itself, or be wound
up and dissolved in the manner pre-
sCribed by law. 1t may conduct bust
ness in this State, or other states, the
Federal Districts. and Territories and
Possessions of the United States, and In
any foreign country. 1t shall have power
to invest its Board of Directors with all
its corporate powers, subject to such re
strictiOnS may be named in this char
ter. And it generally shall possess all
the powers, rights, privileges ana I'M
munities which corporations are ana ma!
hereafter be authorized to possess under
the Constitution and laws of this State,
and particularly under Act Number 26i
of the General Assembly of 1911 and all
laws amendatory thereof.
ARTICLE 1.-THE domicile of this cor
pOration shall be in the City of New Or
leans, Parish of Orleans. State of L0ulsl-
ana; and all citations and other legal pro
cess shall be served upon the president
and in case of his absence, upon the vice
president, or in the absence of both OF
these Officers. upon the secretary Of this
corporation.
~
for which this corporation is formed ana
the nature of the business to be carried
on by it are hereby declared to be:
To buy, sell, deal in. lease, hold or I'M
prove real estate, and the fixtures ana
personal property incidental thereto, or
connected Herewith, and, with that END
in view, to acquire by purchase, lease
hire or otherwise. lands, tenementS. herl-
ditaments, or any interest therein. and
Ia improve the same, and generally To
hold, manage. deal in and improve the
property of the company, and TO sell.
lease. mortgage. pledge or otherwise dls-
pose of the lands, tenementS, heredlta-
mentS, or other property of the company +,
TO construct, erect, equip. repair and i'm
prove houses, buildings, public or private
roads. alleys, tramwayS. railroads, reSer-
vOirS. irrigation and drainage bitches.
wharvcs. sewers. tunnels, COnduitS; to
make enter into. perform and carry out
contracts for the construction, altering.
decorating, maintaining. furnishing ana
fitting up and improving buildings OF
every sort and kind; to advance money to
and enter into contracts and arrange
ments of all kinds with builders, prop
erty owners, and others, to carry on in all
their respective the business of builders.
contractors. decorators dealers in stone.
brick and timber. lumber, hardware and
other building material or requisites.
ARTICLE IV-The authorized capital
stock of this corporation is hereby de
clared to be the sum of Ten Thousand
Dollars, (Sl0.OOOOOD, which capital stock
NAV be increased in the manner provided
by law to the sum of one hundred thous-
and dollars. (SlOO.OOOOO). The presently
authorized capital stock of this corpora
ton shall be represented by one hundred
shares of the par value of one hundred
dollars, tSl0O.OO), each. The said capital
stock shall be represented by certificates
and shall be personal property. No trans
fer of said capital stock shall he binding
upon this corporation unless made in ac-
xt-tt oh ~ nd hx--l
recorded on the books thereof.
ARTICLE V-The capital stock Of this
corporation shall be fully paid and non
aSsesSable when issued. and shall BE- is
sued only for labor done or services rem
dered or for property actually received
or for cash to be paid in at such times and
in such amounts and after such notices
as may be determined by the Board of
Directors.
ARTICLE yI-The powers of this cor
pOratiOn shall be vested in and exercised
by Board of Directors of not more than
seven. and not less than three directors.
each of whom shall hold in his own name
ut least one share of stock. said Board
of Directors shall be elected annually on
the first of July of each year; the first
election TO be held in 1923 All such cleo
tiOns shall be by ballot at the office of the
corporation. under the supervision of two
commissioners to be appointed by the
Board of Directors. and in the absence of
have the power to fill the place by APP
pointment. and all such elections, as well
as all of the meetings of stockholders
except for the purpose of liquidation or
dissolution. or otherwise required by
law, ten days notice shall be given by
mailing to each stakeholder who appears
as such on the books of the corporation,
ut his last designated address or at the
general delivery of New Orleans. If he
has not designated an address, an an
nouncement stating the time and place
of the meeting. Each shareholder shall
be entitled to one vote for each share of
stock standing in his name on the books
of the corporation, to be cast in person
or by proxy, and majority of the votes
cast shall elect. The Board of Directors
shall have power to fill all vacancies that
may occur in the Board. Failure TO elect
directors on the day above specified shall
not dissolve the corporation, but the di-
rectOrs then in office shall remain in
office until their successors are elected
and qualified. Due notice of another cleo
ton shall forthwith be given, as above
provided Such notice of election shall be
continued to be given until an election Is
held. The Board of Directors at their
first meeting shall elect from their num-
Der a president, a yice-president. sec
rotary and treasurer. and such other
officers as the Board of Directors shall
deem necessary. The Board of Directors
shall have power, in its discretion. 10
unite two or more offices, and the same
power to fix the salaries of all officers.
and all such other officers and employees
as they deem necessary. The Board OF
Directors shall have power to make and
establish. as well as alter and amend,
all bylaws. rules and regulations neces-
sary and proper for the support ana man
agement of the business and affairs OF the
corporation not inconsistent with ITS
charter. Said Board shall also nave run
power and authority to borrow money,
and through the president or some duly
authorized agent or agents, to execute
mortgages, issue notes, bonds. or such
other obligations, in such amounts and
on such terms as in their judgment may
he advantageous; and, generally to do all
things reasonably necessary for the prop
er carrying on of the business or TINS
corporation, and also to issue and denver
full paid shares of stock and bonds or
obligations of this corporation, in pay
ment of money borrowed or money. labor
and services, and property or rights ac-
tually received, by this corporation. as
heretofore set 10th; and shall have power
TO do and perform all such acts and
things that may be necessary to carry