The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-08
CHARTER.

pledge property, both real ana personal
10 issue bonds, notes and other obliga-
tions or negotiable Instruments |
to have and employ such managers al
rectors. officers, agents and other EN-
ployes as the interest and conVenleh nee
of said corporation may require or de-
mand; to make and establish such by
laws. rules and regulations for the cor
porate management and control OF the
affairs of the corporation as may De
deemed necessary and expedient.
ARTICLE 1.-THE domicile of said
| corporation shall be established in the
/ City of New Orleans, State OF Louis
| lana, and all citations and other legal
| process shall be served on the presl-
| dent: in his absence, on the Vlce-preSl-
dent: and in the absence of BOTH on
/ the secretary -treasurer.
/ ARTICLE III-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 hereby de-
/ clared to be: to buy, sell and dea! IN,
for its own account, and for the &C
I count of any individual firm or cor
| poratiOn. real estate, tenementS, mort
cages. mortgage notes, bonds. shares
| of stock and other securities; 10 lehu
money on property, real, personal or
! mixed, to make leases as lessor or les
see. to act as broker. agent or trustee
for individuals. firms or corporations,
To construct and erect, or to contract
for the construction and erection OF
buildings, and generally TO do ana en-
gage in any other business. undertaking
. | or enterprise connected with, growing
out of, gcrmane or incidental 10 any OF
, | the objects and purposes hereinaboNe
. set forth or contemplated by this char-
/ ter.
ARTICLE IV-The capital stock OF
| this corporation is fixed at the sum of
! sixty thousand C$6O. coo. UO) dollars, di-
, yided into six hundred shares of the
par value of one hundred dollars each
All shares of stock shall be full-paid
and worcestershire. No transfer of
stock shall be binding upon the cOrpo-
: ration unless made upon its books, and
! all certificates of stock shall be signed
= by such. officers "a may be designated
: by the board of directors.
This corporation shall have the right tc
= increase its capital stock to the further
e sum of two hundred and nifty Thousand
= ($250.OOO.OO) dollars, TO be divided into
4 shares of one hundred dollars each
A provided said increase in the capita
= stock shall have been authorized by the
= stockholders at meeting 10 DE hei'
j pursuant 10 the provisions OF Article
Il VIII. of this charter.
e ARTICLE V-Al the corporate
I powers of the company shall lie vested
5 in. and the management and control oj
= its affairs shall he exercised by boar'
: Of directors composed of three stock
= holders, the membership of which ma!
e Ice increased to n number not eNceedlnt
Il six by the board of directors at an!
II of its regular meetings. y majority o
- the directors shall constitute a quorum
4, for the transaction of all business. tn,
u directors shall he elected annually b!
o ballot on the second Monday in May II
i each wear Each stakeholder shall b.
l. entitled. in person or 10y proxy, TO
n vote for every share owned by him am
e. all elections shall he held under sue
/ rules ana regulations as may be de
7. termined by the Board of Directors
Il after fifteen days notice by mail o
~ such election shall have been sent I
u each stakeholder at his last known ad
pe dress. The directors thus elected sha
I loo, inn in, f.ff flee OR
re- til their successors shall have been dul
&c elected and qualified. No failure I
r elect shall be regarded as a forfeitur
-d of this charter: Any vacancy occur
&c ring on said board shall be filled b
/ the remaining directors for the une'
~ pired term: the said board SNAIL llk'
u wise elect the additional members
u case they should determine To lncreas
IN the number of said board. Said boar
nc shall have the right to appoint an
az dismiss such clerks managers al
u other employees of the corporation
IL conditions may justify or the bus
" ness of the corporation may requir
u The tenure of office of all the employ,
'TIII of the corporation shall be during Il
an pleasure of the Board of Director
eS Any of the directors or officers sha
NJ have the right to appoint. by writt
y, instrument. another director or StOc
no holder to act as his proxy and in h
stead at any and all meetings of Z
IA Board of Directors. Said board shi
al also have the right to segregate l
is office of Secretary-Treasurer, and mi
ms elect "A secretary who need not be
ed director or stakeholder.
TX, ARTICLE VINO sale or other tran
ieu fer of shares of stock in this corpor
lCe ton shall be valid until and unless
SET opportunity has been first afforded I
All shareholders of record at the date
LOT such transfer. sale or other alienatiC
ny to purchase such stock at true val
Tn plus ten per cent, the value to be asc'
OF tanned in the manner herein prescribe
the The right to acquire said stock here
first vested in the other stockholdt
all of record shall follow the stock II
Its any hands to which II may pass a
um may he exercised against the hold'
m thereof within fifteen days from
ub- time any sale or transfer has been
in fered To be entered on the books OF
the association.
ull 1t shall be the duty of any holder
my stock in this corporation who inter
or desires to sell. transfer, ALLEVIATE
po- otherwise dispose of the same, to q
ion fifteen days notice of such intent
hrs or desire to the board of directors
lin the corporation, who are hereby c.
be stituted agents of the other stockho
Zee ers for the purpose OF such notice, 2
ers said board of directors shall give
eral mediate information thereof. in WI
the ing, to all the other stockholders
lers record. Before the expiration OF
airs fifteen days from the receipt OF
cen notice by the board OF directors,
ath shareholder of record may offer TO p
Isal chase, and may acquire the right
ON purchase said stock by notifying
and board of directors in writing and the
the after shall deposit the price OF $
,ner stock in cash with the corporation
or before fifteen days from the
the last mentioned.
sub Upon the receipt of the first m
site toned notice, the board OF direcl
of shall advise the person owning
AVE stock, his agent or representative,
Join said board in fixing the value
flee said stock which value shall be est
day, lished on the basis of the market V;
|, in of the assets of the company, tai
$. also into account the last annual
sid semi-annual statement or report OF
sign corporation and the last monthly
rers balance preceding the Date OF sucn
!, of tice. and to the value thus found
established there shall be added
per cent. and the sum thus found
w. established shall constitute the
100 and price of said stock.
yilla II within twenty-four hours
such notice, the owner, his agen,
ic representative. does not join with
fort board in establishing the price or
Or of the stock, the board may pro
reby without further delay to fix the
,oing value using the report and trial
d J. ance aforesaid for that purpose. W
day. writings are declared to be conclu
Book evidence for and against all partie
interest in the premises, whether
value is established by the joint ac
the owner, his agent widow, heir
er, representatives or by the board OF
G. in rectors acting in default of the
Par operation of said person or person