The herald., 1922-08-10
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, anu
| all citations and other legal process shall
| be served upon the president and in his
absence on the secretary of this corpora
| ton.
ARTICLE III-The objects and pur-
| noses for which this corporation is organ
| lied and the nature of the business TO be
Icarried on by it are hereby declared TO
! be- to own, acquire, buy, sell, exchange
! lease, donate, mortgage hypOthecate, I'M
prove and reclaim and to contract, to buy,
| TO sell, exchange, lease all kinds of real
estate and of the buildings and other I'M
| prOyementS 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. thercfrOm 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 10
secure the payment thereof by mortgages
upon the real estate of this corporation,
| or otherwise and to buy, sell and deal in
| for its own account or for account OF any
| 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-
quire 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 fixed at fifty thOus-
and dollars (S5O0OO0O) divided into hive
hundred 5000 shares OF one hundred dol
lars ($1O0.OO) each, payable in cash, or its
equivalent. as may be determined by the
board of directors.
The corporation is to be a going con
Germ as soon as twenty-five thousand dol
lars (s25 600 OO) 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 (Sl0O,oO0.OO)
All transfers of stock OF this corpora
ton shall be entered on the stock book
! of the company and no transfer shall be
in any manner binding on the corpora
tiOn until so recorded in the stock book.
| No stakeholder shall have the right to
sell his stock on the market. without hav-
| ing offered IL in writing at its book value
to the directors of this corporation,
thirty days previous to the contemplated
sale of the said stock, and IL the direc-
tors of this corporation, when said stock
Is 0Nercu TO them at ltS DOOk value, ut-
sire to buy it 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
Il ry stock to be disposed of as the board
of directors shall determine. A notice of
| the obligation so TO offer the stock TO
the corporation shall be printed acrss the
face of each certificate Of stock.
| ARTICLE VAN the corporate powers
of this corporation shall be vested in and
| cod hU hn nf dirantnrS
posed of four stockholders, three of whom
shall constitute a quorum for the trans
| action of business, which said directors
shall be elected at a general meeting of
the stockholders of this corporation to be
held on the second Monday of January of
ea6 Il year. and notice of said election shall
be given by letter to be written ten
days previous to said election, and sent
to the last known address Of each OF the
stockholders as shown by the books OF
4 the company. The first meeting of the
stockholders under this charter, for the
purpose of electing a board of directors
shall occur on the second Monday of jan
uay, 1924.
The board Of directors, at its first meet
ing after each annual election, shall elect
from its number a president. vice-presi-
dent treasurer and a secretary.
The following stockholders shall consti-
tute the first board Of directors OF this
company, to-wit: James +. Turnbull
2i3O Nashville Ave, New Orleans. La:
Mrs. James +. Turnbull 2iSO Nashvill,
| Ave. New Orleans, La: Miss Beulah NJ
Isom. sos Henry Clay Ave, New Orleans
La; Joseph c. Nelly, 101S Leontine street
; New Orleans, La, who shall hold thei
office until the second Monday OF Jan
uary, 1924. and until their successors shall
J have been elected and qualified. OF these
I the said James +. Turnbull shall be presl
r dent, the said Mrs. James +. Turnbull
ice-president; the said Miss Beulah
, Isom, secretary and the said Joseph
r Nicely, treasurer.
A failure from any cause to elect direc
$ tors on the day stipulated shall not dis
5 solve this corporation, but the officer
and directors then in office shall hold owe
duly elected and qualified. and in tn
event of any failure to hold an election OF
, the day stipulated, the president shal
call a meeting on ten days notice there
! after, or as soon thereafter as praeticaDie
All vacancies in the board of director
t shall be filled by the remaining director
for the unexpired term.
, At all elections at meetings Of tn
stockholders, each stakeholder shall b.
entitled to one vote for each snare o
stock registered in his name and may yot'
in person or by proxy. All elections shai
be by ballot.
ARTICLE vI-The board Of director
shall have full control of the property
., this company, and shall conduct ana man
age and use the same as in its discretion
:. il may deem fit and consistent with Tn
= objects of this corporation and 1t
4; welfare. 1t may make and establish, a
!: well as alter and amend, any and all by
] laws, rules and regulations necessary an,
proper in its judgment, for the CONQUER
support and management OF the pushes
and affairs Of the corporation, ana shai
appoint such officers, agents, employees
servants and persons as may be necessar.
, for the conducting of the business OF IN
[ corpOratiOn; they shall fix their compen
sation and they shall have the right I
v dismiss them at their pleasure.
v A director of this corporation shall hay
the right to vote by general proxy on al
questions of administration, such as IN
manner of conducting the business or IN
d corporation, but in case the corporatio
4 desires to exercise its corporate power
through its board of directors, by seiiin
or mortgaging any of It's properly, IN
J directors can only vote by proxy wher
I the proxy specifically details the ob1et
to be voted upon.
ARTOICLE VII-This act OF incorpora
ton may be changed, modified or amend
ed. fundamentally or incidentally, an
this corporation may be dissolved IN az
y cordance with the provisions OF ACT y
of 1914, of the Legislature or LOUISIANA
y or any amendments thereof, with the cpi
= sent of the stockholders represented az
# general meeting of the stockholders cane
= for that purpose, after ten days hotlce
# writing, addressed to the last known nc
# dress of each of the said stockholders;
!. ANY changes proposed or made VIII
y reference to the increase or reduction
j. the capital stock shall be made in accort
d ance with the laws of the State OF Loul'