The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-06
CHARTER.

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.
| vice president shall be the proper person
upon whom citation or other legal pro-
| cess shall be served, and. III 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
ganized and the nature Of the business TO
| be carried on by il are declared to be the
| following, to-wit: To own, buy, improve
deal in and sell real estate in every pranch
and TO dc all such things as may De IN
| cident thereto; and also to deal ana traGe
| in bonds stocks etc, in general, TO DO
everything necessarily done in the invest
ment business. a..
| ARTICLE III-The capital stock OF the
| CORPORATION shall be the sum OF hive thous,
! and dollars C$5OO0OO), dollars, dlNlueu
| into fifty shares of the par value OF one
| hundred dollars each. Stock suOscrlusu
for shall be paid in cash at time OF SUI
| scTiptiOn. , Or
Any stockholder may sell, assign 90, or
| transfer his stock i'll this corporation,
| provided thirty days prior NOTICE oI
! such intention to sell, assign or transfer
same be given to the company and other
| interested stockholders, and the Sald cor
poration or other stockholders shan nave
the first privilege of purchasing SAME aif
| 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 Oh tne
! of New Orleans and upon surrender Oh
the certificate therefor. III, a..
| This corporation reserves TO ltseh the
right to increase its capital stock to one
|
ARTICLE ". The corporate powers
| of this company shall be vested in ana
exercised by board OF three alre LOT.
| consisting of the President, Vice Presl.
| dent and Secretary Treasurer. Two OF
said directors shall constitute quorum
| for the transaction of business, ana their
decision shall be DlnulnB anu Nahu S'i
The present incorporators shall con-
| stitute a Board of Directors as provided
in the charter, and shall choose otnceTs
from among their own number. The fol
| lowing named incOrporators snail con-
stitute the officers of the corporation
until their successors are named anu
elected tO-wit: F. J. WaguesPack, Pres
ident; N ]. Clesi, retary-Treasurer
and A. 2. Commagere, ice-President
Said Board Of Directors and said officers
shall continue in office until the second
| Tuesday in January, 1923, on which date
and annually thereafter Board Of Direc.
| tors shall he elected. Should the day OF
| election fall on a holiday, then the cleo
ton shall be held on the next legal day
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 the
respective stockholders, which said notice
must be mailed at least fifteen days be-
fore the day on which said meeting Is 10
| be held.
| TO elect directors. the day named for that
purpose shall not dissolve the corpora
| ton, but the directors then in office. 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 sueh
notice as herein provided.
At every election and meeting each
! stakeholder shall be entitled TO one wore
for each share Of stock registered In MS
| or her name. and may vote by proxy.
| The election of directors shall be by
ballot, and the majority in amount OF
votes cast shall elect the person or per
sons for whom they have east. 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
/ holders of the corporation. Inc sald
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 hit and proper.
and as is consistent with the objects or
this company and the welfare OF same.
The said Board of Directors is further
authorized to frame and adopt such by
laws. rules and regulations as the analrs
and business of the corporation may re-
quire and as ii may deem necessary Tor
the management and conduct Thereon
provided the same be not In conflict with
the laws Of Louisiana or OF the Unlted
States.
The said Board shall elect or appoint
such other officers, agents or employees
as il may deem necessary for the proper
conduct of its business; nix 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 ofncer OF
the Board of Directors, or employee OF
the company, and the one to whom this
authority is delegated may act for the
Board in the employment OF such agents
and employees, and fix their compensa-
The Board shall have the right to nix
and determine the salaries of its own
officers.
changed modified or amended, and the
capital stock increased or decreased. or
this corporation dissolved at general
meeting of the stockholders called Tor
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 tne CndIleI'
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 TOT
that purpose. Said commissioners shall
remain in office until the affairs have
been fully liquidated
In case of death of one or more or 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 thereon
in any further sum than the unpaid bal
ance due the company on the shares OF
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 stock
, holder to any liability beyond the I'M
paid balance, IL any, of his stock.
| The present incOrporators. in subscriD-
. ing for the respective number OF 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; N. J. Clesi, l share; A. +
COmmagere, / share.
W. W. WRIGHT,
NJ /. RICE.