The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-29
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, i'll 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
ganZed and the nature of the business 10
be carried on by it are declared to be 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, TO 40
everything necessarily done IN the invest
ment business.
ARTICLE III-The capital stock of the
corporation shall be the sum of nlVe thous,
and dollars (SJOOO.OOJ, dollars, DIVIDED
into fifty shares of the par value OF one
hundred dollars each. Stock subscribed
for shall be paid i'll cash at time oil 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
same be given to the company ana otheE
Interested stockholders, and the sara cor
poratiOn or other stockholders shall nave
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 III the city
of New Orleans and upon surrender OF
the certificate therefor.
Nf..V.
right to increase its capital stock to one
Million Dollars.
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 or
said directors shall constitute quorum
for the transaction of business, ana thelr
decision shall be DlndlnS ana Nallu CUT
The present incorpOrators shall CON
Stitute a Board of Directors as provided
in the charter, and shall choose officers
from among their own number. The fol-
lowing named incOrpOratOrS shall con
stitute the officers of the corporation
until their successors are named anu
elected tO-wit: +. j. WaguesPack, Pres
ident; y. j. Clesi. Secretary Treasurer,
and A. Z. Commagere, Nice-PreSid INT.
Said Board of Directors and said Ofhcers
shall continue in office until the second
Tuesday in January, 1923, on which date
and annually thereafter Board of Direc-
tors shall lie elected should the day of
election fall on 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 tne
must be mailed at least fifteen days be-
fore the day on which said meeting Is to
be held.
to elect directors, the day named for that
purpose shall not dissolve the corpora
ton. but the directors then in ONCE, 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
The election of directors shall be by
ballot, and the majority in amount or
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.
ARTICLE V. The Board of Directors
shall have full power to fill vacancies in
their number caused by death, resigna-
ton or otherwise, from among the stock,
Board shall have full control of the prop
erty of this company, and shall so con-
duct, manage and use the same as in
their discretion they deem mt 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 Dy-
laws. rules and regulations as the AFFAIRS
quire, and as it may deem necessary for
the management and conduct thereof ;
provided the same be not in conflict with
the laws of Louisiana or or the United
States.
The said Board shall elect or appoint
such other officers. agents or employees
as it 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 ofhcer OF
the Board of Directors, or employee or
the company, and the one to whom TINS
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 nix
and determine the salaries of its own
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,
by limitation or otherwise, the hquida-
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 shan
remain in office until the affairs have
been fully liquidated.
In case of death of one or more of 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 pal
ance due the company on the shares or
stock subscribed for or owned by him
or her, nor shall any informality In
organization have the effect of rendering
this charter null. or of exposing n stock
holder to any liability beyond the I'M
paid balance. if any, of his stock.
The present incOrporatOrs. in subscrib-
ing for the respective number or 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 first 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: y. ]. Clesi, 1 share; A. +.
Commagere. l share.
Witnesses: