The herald., 1922-06-15
CHARTER.


corporation.
Said corporation, unless sooner dis
solved in accordance with its charter
shall exist and continue for the period %
ninety nine years from and after the dat
hereof.
The president, or in his absence, th'
yice-president shall be the proper person
upon whom citation or other legal pro
cess shall be served, and, in the event OF
the absence of both of said officers, theI
service shall be made in such manner a'
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 Il
he carried on by il are declared TO De lh'
following, tO-wit: To own, buy, improve
deal in and sell real estate in every Drancn
aud to do all such things rs may be IN
cident thereto; and also to deal and trade
i'm bonds stocks, etc, i'll general, 10 DC
everything necessarily done in the invest
mcnt business.
ARTICLE UI-The capital stock of the
CORPORATION shall be the sum of five thous,
and dollars $4,000 OO), dollars, divided
into fifty shares of the par value Oh ohe
hundred dollars each. Stock suDsCrIpeu
for shall be paid in cash at time Oh sun
scriptiOn. -
transfer his stock in this corporation,
provided thirty days prior notice oI
such intention to sell. assign or transfer
same be given to the company ana Other
Interested StOcknOlueTS, anu inc sou =,
poration OF other stockholders shall nave
the first privilege of purchasing same,
after which thirty days notice the sald
stock may be sold in open market
The stock may be transferred unuer
the above conditions, provided such
transfer be made on the books Oh tne
at its local office i'll the city
of New Orleans and upon surrender Oh
the certificate therefor. IL
This corporation reserves to ltseh the
ri,,ht IN iurrease IFS capital stock to one
Million Dollars.
ARTICLE ". The corporate powers
of this company shall be vested in ana
exercised by a board of three directors,
consisting of the President, Nice-P resi.
dent. and Secretary Treasurer. Two or
said directors shall constitute quorum
for the transaction of business, ana thelr
decision shall be binding and valid cor
pOrate acts.
The present incOrpOrators shall con-
stitute "A Board of Directors as provided
in the charter, and shall choose ofhcers
from among their own number Inc lol-
lowing named incOrpOrators shall con
stitute the officers of the corporation
until their successors are named ana
elected, tO-wit: +. J. Waguespack, Pres
ident; n. j. Clesi, Secretary treasurer
and \. +. Commagere, Vice President.
Said Board of Directors and said officers
shall continue in office until the second
Tuesday in January, 1873, on which date
and annually thereafter Board OF Dlrec-
TORS Sn1ll ne tIttlcu iht A"s ~
election fall on a holiday, then the cleo
ton shall be held on the next legal day
thereafter.
Notice of such election must be per-
SOnaI 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 to
be held.
Any failure from any cause whatsoever
10 elect directors, the day named for that
purpose shall not dissolve the corpora
lion, but the directors then in office, as
we'll as the officers of said corporation,
shall hold over until their successors are
.hosen. In such event, the President
shall cause another election to be held
within thirty days, and shall give such
notice as herein provided.
At every election and meeting each
,tOckholder shall be entitled to one vote
or each share of stock registered in his
,r her name, and may vote by proxy.
The election of directors shall be by
ballot, and the majority in amount of
'otes cast shall elect the person or per-
ions for whom they have cast. After
'ach election the Board of Directors shall
hOose from among their own number the
'fficers of the company.
ARTICLE V. The Board of Directors
hall have full power to fill vacancies in
heir number caused by death, resigna-
ion or otherwise, from among the stock
iOard shall have full control of the prop |
rty of this company, and shall so con- |
uct, manage and use the same as in /
heir discretion they deem mt and proper, |
nd as is consistent with the objects OF
his company and the welfare of same |
The said Board of Directors is further |
authorized to frame and adopt such by
avs. rules and regulations as the affairs /
nd business of the corporation may re-
uire, and as it may deem necessary for
he management and conduct thereof;
royided the same be not in conflict with
he laws of Louisiana or of the United
tates.
The said Board shall elect or appoint
uch other officers, agents or employees
5 il may deem necessary for the proper
onduct of it's business; fix the salaries
r compensation and term of office, with
ne right to dismiss them at the pleasure
{ the Board; or the Board may delegate
MS ministerial duty to any officer OF
he Board of Directors, or employee of
ne company, and the one to whom this
uthority is delegated may act for the
oard in the employment of such agents
nd employees, and fix their cOmpensa-
on and term of office.
The Board shall have the right to fix
nd determine the salaries of its own
Ulcers.
ARTICLE vi. This charter may be
hanged, modified or amended, and the
ipital stock increased or decreased, or
lis corporation dissolved at general
eeting of the stockholders called for
lat purpose, acting and voting in ac-
)rdance with and pursuant to the pro-
siOns of Act 267 of 1914, herein referred
In case of dissolution of the charter,
Y Limitation or otherwise. the liquida-
on of the affairs of this corporation
hall be conducted by three commission
IS selected from among the stockholders,
it'll like assent at a meeting called for
lat purpose. Said commissioners shall
,main in office until the affairs have
cen fully liquidated.
In case of death of one or more of said
the survivor or survivors
lall act.
ARTICLE VII. No stakeholder of this
,rporation shall ever be held liable or
,sponsible for the debts of the corpOr-
ion, or the faults or contracts thereof.
any further sum than the unpaid bal
nee due the company on the shares of
Ock subscribed for or owned by him
her. nor shall any informality in
-ganizatiOn have the effect of rendering
lis charter null. or of exposing a stock
older to any liability beyond the I'M
aid balance, if any, of his stock.
The present incorpOrators. in subscrib-
x for the respective number of shares
the capital stock of this corporation
set forth after their names have made
Ill and complete payment in cash.
Thus done and passed before me, No
ry, on the day and date first above
Id NJ. /. Rice, competent witnesses, after
lie reading of the whole.
Original signed: F. J. waguespack.
y shares; n. J. Clesi, 1 share; A. f.
Dmmagere, / share.
Witnesses: