The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-26
CHARTER.

in property, as the Beard OF Djrac,.-
shall see tit and proper. an shares sSr,
be- full-paid and rrr.I -r,.gble '1SA
stakeholder shall have On. right 70 No
or otherwise dispose of .l- stock in ~
corporation wiihou, first Offering ss-'
TO this corporation aua Co fa. individr;
members of this corporation. IL Tho tl1
value thereof and thi, .urporation
authorized to purrba~. said stock NJ -
book value for the huHert Of tho o,eN
stockholders of the corporations Sbo-,,
the corporation decline 10 purchase saig
stock the shareholder shall have ~
right Of option to offer ~aid stock s
sale To- any other person OF persons. s,m
or corporation.
ARTICLE V. All the elrpprate pows..
of this corporation shall. bee vested ~
and TO the management and control =.
it's business and affairs conducted nv
Board of Directors. COMPOSED Of NOT i0
than three stockholders said Directo,'
shall be elected by ballot at a gepe,.l
meeting of the stockholders 10 be hss
on the 9th day of January. 1922 and an
nuaIlv thereafter on the first Tuesday "a
January, provided sam" D. not a Ieg,i
holiday. in which event ON the next baBE
ing day thereafter. Every Stockholds,
shall be entitled in PERSON or by proyr
to one vote for every share II stool
owned by him. AL elections shall n.
held under such rules and regulation.
as may be determined boy said Board n
Directors. Ten day written notics
detected to the last known address .;
| every stakeholder shall be given Of an
elections. The directors thus elected
shall continue in office until the 9th
day of January. 1929 or until their Suc.
cessors shall have been elected and
qualified any failur" 70 elect officers a,
directors shall not be considered as
forfeiture of this charter Any vacapey
occurring in the Board OF Directors shall
be filled by the remaining directors ia,
the uneXpired term. \ majority Of the
stockholders ut a meeting shall COnstituts
quorum for the transaction Of business
Said Board of Directors shall az II,
first meeting after its election. elect on,
of the members "a President, Vice.
President. and Secretary Treasurer Said
Board shall have the power To appoint
and dismiss such officers, agents clerks
and employees as they may deem ad
visabIe, and TO fix their compensation
Said Board of Directors is vested win
| the power and authority to mortgage O,
pledge the property, real, personal and
mixed, of the corporation. as they NAV
deem tit and proper: To- purchase hold
own, mortgage, pledge, lease and dispose
of real estate; to execute mortgages
| issue notes, bonds aud other evidences
of debt; to borrow and lend money on
same to and from individuals, firms and
corporations for such terms and on such
! conditions as they may deem advisable
ARTICLE VI. No stakeholder SHAH
ever be held liable or responsible "a,
| the contracts or faults of said corpOr
aticn in any further sum than the nm.
| paid balance due on the shares of stock
owned by him, nor shall any mere infor.
mality in organization have the effect OF
rendering this charter null, or exposing
| a stakeholder to any liability beyond the
amount of his unpaid stock, nor shall
any infOrmality or irregularity in Organi
| cation have the effect of rendering any
stakeholder liable as n partner.
ARTICLE VII. AZ The expiration Of
| this Charter or the earlier dissolution
of this corporation for any cause its
affairs shall be Iiquidated by one or more
| liquidators. to be elected by the stock
holders, all of whom shall hold stock in
said company, and the said commission
| ers are hereby vested with full power
| and authority to liquidate the affairs Of
| said company in accordance with terms
of Section go. of Act 267 of 1914.
ARTICLE VIII. The appearers here.
| by declare that they have subscribed
| to the number of shares of capital stock
set opposite their names. and the sig.
| nature thereto shall constitute their
original subscription to the capital stock
of said corporation.
Thus done and passed in my notarial
office in the City of New Orleans, the
day. month and year first above written.
| in the presence of Gladys Jene and Fred
A. Wulff, Jr., competent witnesses, who
have hereuntO signed these presents with
said appearers and me, Notary, after due
reading Of the whole.
Signers:
Witnesses:
FRED A. wULFF, JR.
GLADYS JENE.
II. W. KAISER,
Notary Public.
/ hereby certify that the Articles Of
Incorporation of Economic Realty Co,
| Inc, have been recorded in Book 126S
| folio -.
ROBERT SCOTT,
Deputy Recorder.
Jan. 12-Feb. 10