The herald., 1922-07-27
THE HERALD, ALGIERs, LOUISIANA
CHARTER

and powers permitted by law to corpora
tons
ARTICLE 1.-THE domicile of this cor
poration shall be at New Orleans, in the
Parish of Orleans, State of Louisiana, and
all citations and other legal process snail
be served upon the president and IN MS
absence on the secretary of this corpora
ton.
ARTICLE II-The objects and pur-
poses for which this corporation Is organ
lied and the nature of the business 10 be
carried on by il are hereby declared 10
be: to own, acquire, buy, sell, eNchahSe'
lease. donate. mortgage hypOthecate, I'M
prov" and reclaim and to contract, 10 DuS,
to sill exchange, lease all kinds of real
estate and of the buildings and other nm
prOvcmcntS thereon and the products OF
such real estate in the State OF Louisiana
or in any other state of the United states;
To lend and advance money for the i'm
provements, cultivation and development
to any of the property of this corporation,
or of any property which may have been
purchased or leased or contracted TO be
purchased or leased, therefrOm or for any
other legitimate purpose, and TO make
| such loans, advances upon real estate, or
mortgage or other sufficient security; TO
| borrow and raise money for the objects
and purposes of this cOrpOatiOn, and TO
secure the payment thereof by mortgages
upon the real estate of this corporation,
/ or otherwise and to buy, sell and deal IN
/ individual, firm or corporation, real es-
state mineral, timber and agricultural
lands. to act as broker, agent or trustee
| for Individual firm or corporation, to ac-
duire real estate holdings, assets and the
realty brokerage and development bust
ness Of James +. Turnbull; and generally
to do or perform all such acts. matters
J and things as may be necessary to ac-
! compish the objects and purposes herein
above set forth.
ARTICLE IV-The capital stock of this
corporation is hereby tXed at fifty thous-
aud dollars (Sj0OO0OO) divided into five
hundred $500 shares of one hundred dol
lars 100000 each, payable in cash, or its
equivalent. as may be determined by the
board of directors
The corporation is TO be n going con
Germ as soon as twenty-five thousand doi,
lars ISIS 0O000D of its capital stock shall
have been subscribed for.
The amount to which the capital stock
Of this corporation may be increased Is
hereby fixed at one hundred thousand
dollars (SlO0,COOOO)
| All transfers of stock Of this corpora
ton shall be entered on the stock book
of the company and no transfer shall bt
in any manner binding on the corpora
ton until so recorded in the stock book
No stakeholder shall have the right &c
sell his stock on the market, without nav
ing offered ii in writing at its book value
to the directors of this corporation
thirty days previous to the contemplated
sale of the said stock. and If the direc-
tors of this corporation, when said STOCK
is offered to them at it's book value, de-
sire to buy IL the corporation shall have
the right to do so. the purchase shall be
made on behalf of the corporation, and Its
stock shall then and there become treas
ury stock to be disposed of as the board
of directors shall determine. a notice OF
the obligation so to offer the stock tC
the corporation shall be printed acrss the
face of each certificate of stock.
of this corporation shall be vested in and
exercised by the board of directors com
posed Of four stockholders, three of whom
shall constitute a quorum for the trans
action of business, which said directors
shall be elected at n general meeting o.
r the stockholders of this corporation to b'
( held on the second Monday of January o
r eaC Il year. and notice of said election shaI
be given by letter TO be written tel
days previous to said election, and sen
, TO the last known address of each of IN
stockholders as shown by the books o
: the company. The first meeting of III
stockholders under this charter, for tn
purpose Of electing u board of director
= shall occur on the second Monday Of Jan
uay, 1924.
e The board of directors, at its first meet
g ing after each annual election, shall cleo
r from its number a president, a vice presi
" dent, a treasurer and a secretary.
q The following stockholders shall consti
= tute the first board of directors of thi
: company, tOwit: James +. Turn6ul
e 243O Nashville Ave. New Orleans. La
n Mrs James +. Turnbull, 2430 Nashvil
h Ave, New Orleans, La; Miss Beulah
y Isom. 903 Henry Clay Ave, New Orlean
II La; Joseph C. Nicely. 1O1s Leontine stree
le New Orleans, La, who shall hold the
uary, 1924 and until their successors sha
IS have been elected and qualified. OF thes
At the said James F. Turnbull shall be pres
Or dent. the said Mrs. James T. Turnbu
MfCa
10 Isom. secretary and the said Joseph
ir Nicely, treasurer.
" A failure from any cause to elect dire
is tors on the day stipulated shall not oil
as solve this corporation, but the Office
r and directors then in office SHAH hold ov'
81 until their SUCCESSORS shall have bee
CT duly elected and qualified. and in Il
event of any failure to hold an election 9
in the day stipulated, the president shs
l. call a meeting on ten days notice ther
in after or as soon thereafter as practicabi
b All vacancies in the board of directo
Mt shall be filled by the remaining dtrecto
Id for the uneXpired term.
to At all elections at meetings OF q
RS stockholders, each stakeholder shall
he entitled to one vote for each share
stock registered in his name and may vo
in person or by proxy. All elections shs
e; be by ballot.
l ARTICLE vI-The board Of directo
i shall have full control of the property
l., this company, and shall conduct and ma
ct age and use the same as in its discretlt
X, il may deem fit and consistent with q
r. objects of this corporation and
e; welfare 1t may make and establish,
-e well as alter and amend, any and all b
FL laws. rules and regulations necessary I'll
proper in its Judgment, for the condu'
support and management of the busine
and affairs Of the corporation, and 81;
appoint such officers, agents, employees
tt servants and persons as may be necessa
ms for the conducting Of the business OF I
at corporation; they shall fix their compe
a sation and they shall have the right
ny dismiss them at their pleasure.
ew director of this corporation shall ha
the right to vote by general proxy on
questions of administration, such as I
.. manner of conducting the business or I
nd CORPORATION, but in case the corporate
of desires to exercise it's corporate pOw'
I'd through it's board of directors, by SELL
or mortgaging any OF its property,
eal directors can only vote by proxy wh'
OF the proxy specifically details the obj
to be voted upon.
ARTOICLE VII-This act Of incorpol
ton may be changed. modified or amen
ed. fundamentally or incidentally, a
this corporation may be dissolved IN
cordance with the provisions OF ACT
of 1914 of the Legislature OF Loulsla
is or any amendments thereof, with the {.
Dr. sent of the stockholders represented az
Of general meeting of the stockholders cal
US for that purpose, after ten days notlce
of writing addressed to the last known
of dress of each of the said stockholders
I'D VI