The herald., 1922-11-16
CHARTER OF NEW ORLEANS INDUS
TRIAL CANAL LAND AND HAIR
ROR DEVELOPMENT CO., INC.

"
isiana. Parish of Orleans, City Of New
Orleans Be IL known, that on this 18th
day of the month of October, in the year
| of our Lord one thousand nine hundred
and twenty two, and of the Independence
! of the United States of America the on"
| hundred and forty seventh, before me-
| William J. Guste, notary pubic, duly
/. commissioned and qualified, In and 1or
! the Parish of Orleans, state or Loulsiaha,
therein residing, and in the presence or
| the witnesses whose names are hereunto
| subscribed. personally came ana appeared
| the several persons whose names are mere
| unto subscribed, all of full age, who
severally declared to me- notary. t this
| availing themselves of the laws or TINS
state relative to the organization or corpo
/ rations, they have coyenanted ana agree9
and by these presents do covenant anu
agree and bind themselves as wen as All
sncb other persons who may hereafter be-
come associated with them to form cor
poration for the objects and purposes ana
under the articles and st1pulatlohs ioi
lowing. which they hereby adopt as their
charter, to-wit:
ARTICLE THE name of this corpo-
ration shall be New Orleans Industrial
Canal and HarbOr Development Co. INT,
and under it's corporate name II shaii
have power and authority TO nave ana
enjoy corporate existence for period OF
ninety nine years from date hereof, uh
less sooner dissolved by liquidation OF
otherwise. 1t shall have power to con,
|
use corporate seal and TO alter ana
break the same at pleasure; to purchase
receive, lease, hold or otherwise acquire
and convey as well as mortgage ana ny
pothecate under its corporate NAME prop,
erty, real, personal and mixed, corporeal
and incorporeal; to borrow money anu 10
make and issue bonds and other evidence
of Indebtedness, and il desired, TO secure
the same by mortgage and otherwise; 10
buy and hold stock in other companies
incident to the objects and purposes OF
the expansion of the business interest Oh
the corporation; to name, elect anu ap
point such managers agents. directors
and officers as the interest and conveh-
fence of said corporation may require,
and to make and establish as Wen as aiier
and amend at plesure such py laws, luz
as may be deemed necessary ana proper,
and generally to do any and all things
incident to or necessary and proper TOT
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, ana sh
citations and other legal process shall De ,
lion. and in the event of his absence upon 5
the 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 IL are hereby declared
% be to buy, sell and otherwise acquire,
cucumber, lease and ALLEVIATE :
property of all kinds, real. personal ana !
mixed, either as owner, trustee principai, =
lgent or broker, reclaim, develop. exploit,
ADVERTISE. drain. irrigate and otherwise =
handle, use or develop real estate and IN
erests of all kinds therein; to construct;
Utilize. own and operate drainage ana
navigation canals, channels, or similar
Constructions. and in connection therewlth \
o own, operate and maintain pumps =
Iredging machinery. boats, barges and
inds; to lay out, develop and handle viii
age sites, town sites and manufacturing
ties and to a general contracting bust +
ess: to buy, sell or otherwise acquire or q
,onds rights. certificates, obligations. y y
hoses in action. and securities OF all X
inds, corporate or otherwise, to exchange a
is entire capital stock or any part there q
4 for property which 1t is authorized to p
cquire to exchange its entire assets and :,
usiness or any part thereof for property, =
tocks or other obligations Of other com s
'anies, firms or individuals; to carry on i,
ental to or convenient for the accom- a.
'lishment of any of the foregoing pur- "
oses. ri
ARTICLE Iv-The capital stock Of this d
is hereby fixed at the sum OF c,
ne hundred thousand ($1000O0) dollars. l.
nd shall be divided into and represented r,
" one thousand shares of the par value ii
4 one hundred s1000O) dollars each. Al
The said stock shall be paid for in labor OF
one or money or property actually re- 81
eived as provided by law, and in such tu
Is amer and at such times and in such p,
1stallments as may be prescribed by the Il
GARD of directors.
This corporation shall become a going p,
oncern and shall be authorized to com q,
renee business when fifty thousand ESQ., Al
)O) dollars stock has been subscribed for | no
ropriate action of its stockholders issue I'm
referred or other classes of stock to be ~
isposed of and redeemed upon such con- %
ltions, and having such rights and privi- ms
ges as may be determined by the stock hr
olders when authorizing such issue. ce
ARTICLE v-The capital stock of this We
'rporation may be increased up to the pr
I'm of five million (s5000, 100000 dollars pc
a two-third vote Of all the stock at Pc
'ecial meeting called for that purpose az
at regular annual meeting of the ter
operation. and any such increase may to
made In whole or part in one or more an
asses Of stock. la,
ARTICLE vILThe stock OF this cor Me-
ration can be transferred only on the ma "a
oks Of the corporation and subject to OF
en- regulations and formalities as mayI
by the board of directors from time po
time prescribed. Ne
rporation shall be vested in a board ser
imposed OF not less than nor more POI
an directors each Of whom shall own ret
least one share Of the common stock. A
y Pi.ioc huuiper OF directors within no,
limits above stated shall be fixed at eer
annual meeting Of the stockholders be
at special meeting called for that To
rpose; provided that in the interval de-.
tween stockholders meetings the board cor
eli may elect additional directors with mi,
-tne maximum number above provided oh
the stockholders shall not have elected ma
same The majority Of the board shall nac
nsutute quorum. The said board or oyt
rectors shall be elected annually st A mi,
'eIing OF the stockholders to be held an \
ally on the third Wednesday OF Jan owi
~ OF each year. beginning with the In
AZ 1873, Tor the next legal day II that Ian
y De a holiday after notice given tol =
N stockholder by mail at least fifteen 4
vs. peiore the date Of the meeting. adj 'rac
SEQ 70 the last designated address OF o.. 4
stocknoider, or II he or she has desig- v wu.
cry. New Orleans. Special meetings of pro
stockholders may be called bv the the
lrd at any time and notice thereof shall A
given In the manner provided for an corr
II meetings; provided that In ali cases one
notices may be waived by unanimous divi
sent Each holder Of common stock Of
III De entitled to one vote for each t$1C
re OF common stock standing I'm his nor
ne on the books Of the Corporation. cap
vote to be cast In person or nv fxe
Ky and majority Of the votes cast thol
II elect Failure to elect directors on stoc
DAY above specified shall not dissolve pay
corporation. but the directors then in rece
e shall remain In Office until their sue ton
ors are elected. The board of direc- the
snail have power to fill all vacancies non
en- may occur or in any manner NAV r,
or De created on the board, even doll