The herald. [volume] (New Orleans, La.) 1905-1953, 1922-12-07
CHARTER OF METROPOLITAN CON-
STRUCTION COMPANY. INC.

isiana, Parish of Orleans. City OF New
Orleans. BE it 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 one
hundred and forty seventh, before me,
William j. Guste, notary public, duly
commissioned and qualified, in and for
the Parish Of Orleans, State Of Louisiana.
therein residing, and in the presence Of
the witnesses whose names are hereunto
subscribed personally came and appeared
the several persons whose names are
hereunto subscribed, all Of full age, who
severally declared to me, notary, that,
availing themselves Of the laws OF this
State relative to the organization of cor
porations, they have covenanted and
agreed. by these presents do covenant
and agree and bind themselves, as well
as all such other persons as may here
after become associated with them, to
form a corporation for the objects and
purposes and under the articles and stip-
ulations following. which they hereby
adopt as their charter. to-wit:
ARTICLE 1.-The name Of this corpor-
alton shall be Metropolitan Construction
Company. Inc, and under its corporate
name il shall have power and authority
to have and enjoy corporate existence for
period of nine-nine years from date
hereof, unless sooner dissolved by liQui-
dation or otherwise. 1t shall have power
to contract. to sue and be sued, to make
and use a corporate seal and to alter and
break the same at pleasure; to purchse.
receive, lease, hold, or otherwise acquire
and convey, as well as mortgage and
hypothecate under its corporate name.
property, real, personal and mixed, cor
poreal and incorporeal; to borrow money
and make and issue bonds and other evil
dences OF Indebtedness, and, IL desired,
to secure the same by mortgage and
otherwise; to buy and hold stock in
other companies incident to the objects
and purposes or the expansion OF the
business interest OF the corporation; to
name, elect and appoint such managers,
agents. directors and officers as the in
terest and convenience of said corpora
ton may require. and to make and estab-
lsh as well as alter and amend at pleas
ure such bylaws, rules and regulations
for it's proper government, as may be
deemed necessary and proper. and gener-
ally to do any and all things incident to
or necessary and proper for the interest
of the business of the corporation.
ARTICLE 1.-THE domicile Of this
corporation shall be in the city Of New
Orleans, in the State of Louisiana, and
all citation and other legal process shall
be served upon the President Of the cor
poration, and, in the event of his abb
sence. upon the Secretary Treasurer.
ARTICLE III.-The objects and pur-
poses for which this corporation Is es-
tablished and the nature of the business
to be carried on by it are declared to
be as follows:
To acquire by purchase or otherwise.
to build, erect. establish. or construct
upon; to cultivate and develop. to lease.
rent. mortgage. pledge. sell and ALLEVIATE,
to utilize, enjoy and improve. and gen
orally to deal in real estate and lands OF
every character and description, to-
gether with all rights, ways, privileges.
and improvements thereon, situated or
thereunto appertaining.
To conduct and carry on such other
business as may be found necessary or
convenient for properly calculating the
aforesaid privilege or enhancing the value
of the properties. rights and privileges Of
said corporation.
ARTICLE Iv.-The capital stock of
this corporation is hereby fixed at the
sum of five thousand dollars, t$5000.00).
and shall be divided into and represented
by fifty shares of $4,000 each.
The said stock shall be paid for in
cash or its equivalent, as provided by
law, and in such manner and at such
times and in such installments as may be
prescribed by the Board of Directors.
This corporation shall become a going
concern and shall be authorized to COM
mence business when twenty-five hundred
dollars ($25O0.0O) has in fact been sub
scribed and paid for in cash or its
equivalent, as provided by law.
ARTICLE V.-The capital stock of this
corporation may be increased to the
sum of ten thousand dollars ($10,OO000)
by a two-third vote Of all the stockhold-
ers at a special meeting called for that
of the corporation.
ARTICLE VI.-AIl certificates Of stock
| issued by the Company shall be signed
by the President and countersigned by
the Vice President Oh IL authorized by
| resolution of the Board of Directors,
| shall be signed by the President and
countersigned by the Secretary Urea surer
The stock Of this corporation can be
transferred only on the books of the cor
poration and subject to such regulations
| and formalities as may be by the Board
| OF Directors from time to time prescribed.
No stakeholder shall be permitted to
| sell or otherwise dispose of his stock
without first offering, the same in writ
ing to the other stockholders through
| the Board OF Directors, at a price not
exceeding the book value thereof, and the
stockholders shall have an option and
frst right to purchase all the shares OF
stock to be thus disposed of by sale or
by the death, resignation or otherwise of
any OF the stockholders Of the corpora
ton. and shall have a period Of ten days
In which to accept or decline such offer
or stock. Should the Board Of Directors
or the stockholders decline to purchase
the said stock. then the stakeholder or
stockholders who made the offer to sell
or otherwise dispose Of his stock, may
sell or otherwise dispose of 1t in any
manner and at any price that he or they
may see mt. But each share OF stock is
issued under the condition and under
standing that no stakeholder shall make
| sale or transfer Of his stock in viola
, ton Of this provision, and such sales or
| transfer. IL made. shall be void. and this
company shall be under no obligation to
list said stock on Its books or to regard
the holder of the certificate thereof.
ARTICLE VII.-The corporate powers
| OF this corporation shall be vested IN
and exercised by a Board of Directors
composed of no less than three and no
more than five stockholders, in the option
OF the Board Of Directors. Two directors
TO cnstitute quorum in the case of
three constituting a full board, and three
directors to constitute a quorum in the
case OF more than three constituting a
full board.
The directors Of this corporation NAV
vote in person or by written prov ~
any Of the meetings of the Foard nj
directors; and the Board Of Directors
may delegate any Of its powers to any
omcer or officers or any other represen.
tative OF the Company BY appropriats
resolution to that effect
The first Board Of Directors Of this
corporation shall he composed OF ths
following: Mrs. f. J. CAST, Alvin u
Johnson. Edward Alba. with oficers a,
follows: Mrs. e, J. Cast President, Al.
vim +. johnson Vice President, EDWARD
Alba Secretary Treasurer. and they shall
serve until the second Monday in Jan.
uary. 1924. or until their successors art
elected and qualified.
Il The directors shall be elected annually
| on the second Monday In January.
Notice Of such meeting SHAH be given
ten days prior to the date Of the meet
| ing In wriffnO and uaut - ..oh .x~.r