The herald., 1922-12-07
CHARTER OF NEW ORLEANS INDUS
TRIAL CANAL LAND AND HAIR
ROR DEyEIOPMENT CO., INC.

7 nf
and twenty-five, and of the Independence
| of the United States Of America, the one
hundred and forty seventh, be1ore mt
! William J. Guste, notary pupIc' Jul!
commissioned and qualified, IN ana Ioi
| the Parish Of Orleans, state or Loulslaha,
| therein residing and in the presence OF
the witnesses whose names are hereuhl4
| subscribed. personally came ana aPpealeu
| the several persons whose names are mere
| nnto subscribed. all Of full age, VINO
| SayoraIIy declared to me, notary, that
| ayailing themselves OF the laws vi .ni'
| state relative to the organization Oh coIPo,
! rations, they have covenanted ana asre 'sd
and nv these presents do covenant anu
| agree and hind themselves as wei as al
snch other persons who may hereafter De
| come associated with them TO form III ,,
poration for the objects and purposes s Sn1
under the articles and stipulatiohs io
| lowing, which they hereby adopt as ther
charter to-wit:
ARTICLE THE name Of this corpo,,
| ration shall be New Orleans lndustrlai
Canal and Harbor Development 70 III
and under its corporate name shal,
have power and authority to nave anu
enjoy corporate existence for a perlod oi
| ninety nine years from date hereof un.
less sooner dissolved by hquluatlon
| otherwise 1t shall have power 10 con
| tract TO sue and be sued; to MAKE anu
use a corporate seal and TO after anu
break the same at pleasure; TO purchase,
! receive, lease, hold or otherwise ACQUIRE
and convey as well as mortgage and ny
| pothecate under its corporate name, prop,
erty. real. personal and mixed corpo,ea,
| and incorporeal; to borrow money ana 10
make and issue bonds and other e'luence
~ Indebtedness, and IL desired, to secure
| the same by mortgage and otherwise, "
buy and hold stock in otner coihPahie
incident to the objects ana purposes VI
| the expansion of the business ihterest VI
the CORPORATION: to name, elect ana ap
noint such managers agents. directors
and officers, as the interest and conven
fence Of said corporation may requ.S,
and TO make and establish as Wen as aIeL
and amend at plesure such by-laws' ruies
and regulations for its proper goVerhhen'
as may be deemed necessary ana proper,
and generally to do any ana al .niS 1sr
incident to or necessary and proper Tor
the interest of the business OF the cor
poration.
ARTICLE 1.-THE domicile Of this cor
poration shall be in the City OF New Ut
leans in the State of Louisiana anu ann he
served upon the president of the corpora
ton. and in the event Of his absence upon
the secretary.
ARTICLE III-The objects and pur-
poses for which this corporation rs
tablished and the nature OF the business
to be carried on by it are hereby declared
to be to buy, sell and otherwise acquire,
hypothecate cucumber, lease and anenate
property of all kinds, real. personal anu
mixed, either as owner. trustee, principal
agent or broker, reclaim. develop, explolt,
advertise drain. irrigate and otheI"ise
handle, use or develop real estate ana IN
terests of all kinds therein; to construct
utilize own and operate drainage anu
navigation canals, channels, or simliar
constructions and in connection thereMnh
to own, operate and MAINTAIN PuPS
dredging machinery, boats. barges ana
vessels and floating equipment OF an
kinds; to lay out, develop and handle VII
lage sites, town sites and mahuIactuIlns
sites and to a general CONTRACTING r, pus or
ALLEVIATE, cucumber or hypothecate STOCKS
bonds. rights. certificates. obhgations;
chooses in action, and securities OF al
kinds, corporate or otherwise, to excnange
IT'S entire capital stock or any part there
OF for property which II is authorized 10
acquire; to exchange its entire assets anu
business or any part thereof for properly
stocks or other obligations OF otner coin
panies. firms or individuals: to carry on
| all operations and to do all things Incl
| dental to or convenient for the accom-
| plishment Of any OF the foregoing puf
poses.
/ ARTICLE Iv-The capital stock Of this
corporation is hereby fixed at the sum or
one hundred thousand ($100O0O) dollars,
and shall be divided into and represented
by one thousand shares es, OF the par Zach aiue
The said stock shall be paid for In labor
done or money or property actually re-
| ceived as provided by law, and In sucn
| manner and at such times and In such
L
board Of directors.
This corporation shall become a going
concern and shall be authorized to com
mence business when fifty thousand t$JO,-
OOO) dollars stock has been subscribed for
| Tho corporation may hereafter by ap-
| propriate action Of its stockholders issue
preferred or other classes Of stock to De
| disposed Of and redeemed upon such con-
ditions, and having such rights and privi-
| leges as may be determined by the stock
holders when authorizing such issue.
ARTICLE v-The capital stock of this
corporation may be increased mp to the
| by a two-third vote of all the stock at
special meeting called for that purpose
or at a regular annual meeting of the
corporation, and any such increase may
| classes of stock.
ARTICLE vI-The stock of this cor
poration can be transferred only on the
books Of the corporation and subject to
| such regulations and formalities as may
be by the board of directors from time
| to time prescribed.
ARTICLE vII-All the powers Of this
corporation shall be vested in board
than 9 directors, each of whom shall own
at least one share Of the common stock.
The precise number Of directors within
the limits above stated shall be fixed at
or at a special meeting called for that
purpose; provided that IT. the interval
between stockholders meetings the board
itself may elect additional directors with
In the maximum number above provided
IL the stockholders shall not have elected
the same. The majority OF the board shall
| constitute quorum. The said board Of
directors shall be elected annually at a
meeting OF the stockholders to be held an
! nually on the third Wednesday Of jan
| uary OF each year, beginning with the
year 1923, Tor the next legal day II that
day be holiday after notice given to
each stockholder nv mail AZ Hast 6Ftaan
/ days before the date Of the meeting ad-
dressed to the last designated address of
the stockholder. or II he or she has desig-
| nate no address, then to the General De-
livery. New Orleans. Special meetings of
| the stockholders may be called by the
board at any time and notice thereof shall
4 be given in the manner provided for an
nual meetings; provided that in all cases
all notices may be waived by unanimous
| consent. Each holder Of common stock
shall be entitled to one vote for each
share Of common stock standing in his
name on the books Of the corporation,
said vote to be cast in person or by
proxy and q majority of the votes cast
shall elect. Failure to elect directors on
the day above specified shall not dissolve
the corporation. but the directors then in
Office shall remain in Office until their sue |
cessors are elected. The board Of direc- |
tors shall have power to all all vacancies |
which may occur or in any manner may |
arise or be created on the board, even |
though no quorum remain at the time |
such vacancies are to be filed. The board |
shall elect from their number a president. |
vice president and q secretary-treasurer;