The herald., 1922-11-23
CHARTER.

ton, or In case or MS absence upon tht
vice-president or in the absence Of both Of
these officers upon the secretary of tn,
corporation.
ARTICLE III-The objects and pur
poses for which this corporation are or
ganiZed and the nature Of the business
to be carried on by it are hereby declared
to be to buy, sell otherwise acquire
and ALLEVIATE. real estate and lands in the
State of Louisiana. or elsewhere, to lease
and release said real estate and lands, To
mortgage and hypOthecate the same, to
sub div ide same into building lots and "a
build upon and otherwise improve same
and to do general real estate and land
business, to exchange its entire capital
stock, or any part thereof for property
which Ii is authorized to acquire, or 10
or in part for money or stocks or bonds,
or obligations of other companies, and to
do any and all such acts and things as
may or shall be necessary and proper 10
carry out said objects and purposes.
ARTICLE Iv-The capital stock of said
corporation is hereby fixed at thirty
thousand dollars, divided into or repre-
scented by 800 shares of the par value of
$4,000 each. The whole of said stock,
or any part thereof, may be issued or
delivered to any person. firm or corpora
ton for the requirement of the rights,
privileges, franchises, property, servf-
tudes. or any part thereof owned and
controlled by such person or corporation,
also in payment, settlement and adjust
ment of the costs, fees, charges, expenses
and commissions incurred for services
rendered in the formation and organiza-
ton OF this corporation, and in the 3c-
quiring and bringing about the purchase
of the property, rights and franchises
aforesaid. also for cash or in installments
of such amounts rs the board of direc-
tors may determine also for merchandise
1Cteived or for services actually rendered
I" this company. The board of directors
hnFainnftar pEnnninllU
lied to dispose of the stock or any part
thereof for any and all of the purposes
above stated, as in its judgment mag seem
fair and proper. Before any sto:kholGer
can sell the whole or any part of his
stock same must be offered for ten days
to the other stockholders at its book
7alue as shown by the books Of the com
pany. In case soiAe of the shareholders
are unwilling to purchase at this Vri.e
Il" remaining stockhold"- or holders
sha lave the right to purchase their pro-
poItiCD.
ARTICLE V-All powers of this cor
poration shall be vested in and exercised
by board of not more than five and not
less than three directors. each of whom
shall hold in his own name on the books
of the company at least one unpledged
share of stock. The board shall elect from
their number president, a vice presi-
dent, secretary and treasurer, and
such other officers as they NAV think
proper or convenient for the carrying on
Of the cOmpany's business. and shall have
power to unite two or more offices, and
the same to confer upon one person, or
to dispense with any office in its discre-
ton. and to fix the salaries of all officers,
agents and employees. The board of d.
rectors shall be elected annually on the
second Monday of October of each year.
the first election to be held In the year
1922. All such elections shall be by bal
lot at the office of the corporation. No
tice OF annual meetings, as well special
of stockholders, shall be given
by written notice mailed fifteen days in
each stakeholder appearing as such on
the books of the company at his last
designated address, or at the General
Delivery, New Orleans, Louisiana, if he
shall be entitled to one vote
for each share of stock standing in his
name on the books of the company. said
vote to be cast in person or by proxy, and
The board of directors shall have power
10 fill all vacancies which may occur, or
in any manner arise or be created. by the
board Of directors. even though no quorum
remain at the time such vacancy or va
,ancies are to be filled. Failure to elect
directors on the day above specified shall
not dissolve the corporation, but the di-
rectOrs then in office shall remain in Of
ice until their successors are elected The
board of directors shall have power to
make and establish, as well as alter and
amend all bylaws, rules and regulations
necessary and proper for the support and
management of the affairs and business of
he corporation and not inconsistent with
is charter. The board shall have power,
without referring to the stockholders to
borrow money, execute mortgages, issue
notes, pledges, bonds or other Obliga
ions, in such amounts and on such terms
Is In their judgment may be advantageous,
md generally to do all things reason
IDLY necessary for the proper carrying
IN Of the business Of the corporation, and
hey are specially authorized to deliver
'ull paid shares Of stock and bonds. or
,ther obligations. to the company in pay
nent of property acquired by SAID cor
Doration at such fair valuation as in their
Judgment may be proper. A majority of
or the transaction of business. The board
IF directors shall have the power by a
vote Of not less than two-thirds of all
directors to sell all or any part of the
property movable and immovable be-
onging to the corporation. or to receive
n exchange therefor money or stocks or
bonds or other obligations of another in
1ivfdual firm or corporation, or any
without referring to the share
holders for power to do so. At any meet
ng Of the board of directors, any director
absent from the meeting may be repre-
'ented by any other director who may
,ast the vote Of said absent director. ac-
,ording to general or special written in
Until the annual meeting Of 1923 the
board of directors shall consist of John
v. Philips, post Office address, 272l St.
Charles Ave-, New Orleans. La; Alice ID.
Lyons. post office address. 1904 st.
charles Ave-. New Orleans. La; Theodore
4. Lyons. post Office address, 1911 Louis
ana Ave-, New Orleans, La; and I. l..
lyons, Jr.. post Office address, 1882 First
st.. New Orleans. La. OF the foregoing,
Tohn w. Phillips shall be president,
H. Lyons. vice-president. and
: l.. Lyons, Jr, secretary treasurer.
ARTICLE vI-Tkis act of Incorporation
nay be changed, modified or amended, or
his corporation may be dissolved in the
manner provided by law, by a vote Of two
birds cf the entire outstanding capital
'tock present or represented at a gen.
raj meeting Of the stockholders con |
'ened for snch purpose, after previous no
ice hes been given In the manner above
provided to be given Of the annual meet
ng CO the corporation. The capital stock
Il the corporation may be increased or
With the laws Of the State Of Louisiana.
ARTICLE Wilt this corporation shall |
,e dissolved either by limitation, or for
ny other cause, its affairs shall be liqui- |
lated by three commissioners, to be ap- |
ened for the purpose Of liquidation. and |
o be elected by a vote of two-thirds OF
he stockholders. Said liquidators shall |
emain in office until the affairs Of said |
corporation shall have been fully settled |
nd liquidated, and they shall have full
.ower and authority to transfer and give |
tile to an the property and assets Of the
eeds. In case Of death, disability. or
Of one or more liuufdatOrs. |