The herald. [volume] (New Orleans, La.) 1905-1953, 1914-03-05
CHARTER OF


United States OF America, State OF Louisiana,
Parish OF Orleans, City OF New Orleans.
BE 1t known, That on this second day OF
the month OF February in the year one thou
sand nire hundred and fourteen Q9l4), be
fore me, Bernard Titche, a notary public
duly commissioned and qualified IN and for
this city and the Parish Of Orleans, and in
the presence OF the witnesses hereinafter
named. and undersigned, personally came and
appeared, the parties whose names are here
unto subscribed, all OF full age, who de-
clated that, awaiting themselves OF tne pro-
visions of the laws OF this State IN such cases
made and provided they have Covenanted and
agreed, and by these presents covenant and
agree, and bind themselves, as well as such
other persons may hereafter become assO-
ciated with them TO form and constitute a
corporation and body polite in law, for the
purposes and objects and under the stlpula-
tions, articles and conditions following, to-
wit:
Article !. The name and title Of said cor
poration shall be the huto-Cycle Company.
Its domicile shall be in the City OF New Or
leans State of Louisiana, I. ). A, and under
its said corporate name, said corporation shall
have power and authority to contract, sue
and be sued; to make and use corporate
seal, and the same to break and alter at
pleasure; to hold, receive, have, purchase, i'm
prove, ALLEVIATE, convey, sell, borrow, pledge,
mortgage and hypothccate, under its SAID cor
porate name, property, real, personal and
mixed; 10 name and appoint such officers, d.
reCtOTS, agents and managers or employees
as the interest or convenience of said
pOration may require; TO make and establish
bylaws, rules and regulations for the proper
management and regulation of its affairs as
may be deemed necessary and proper, and
the same TO change and alter at pleasure
and to do all other acts and things permitted
by law, or as shall be necessary and proper
to carry out the objects and purposes OF said
corporation.
Said corporation, unless sooner d. SOLVED in
accordance with its charter, shall exist and
continue for the period of ninety years
from and after the date hereof.
The president, in his absence, the vice
president, shall be the proper person upon
whom citation or other legal process shall be
served.
Article II. The objects and purposes for
which this corporation is organized, and the
nature of the business to be carried on By
it, are declared to be the following, to-wit:
To design, manufacture, assemble, erect or
construct all kinds of gasoline or electric
pleasure or light delivery cars upon such
plans and specifications as may seem advan-
tageous.
70 own and operate machine shops or erect
ing plants; to do all kinds of brass or sheet
metal work. to manufacture gas engines,
wire wheels, axels or power plants, and all
kinds OF components for such cars; to manu-
facture and sell all articles and things which,
in the opinion OF the management OF said
corporation may be advantageous or prohta-
BILE; and generally to buy and sell articles
of trade and commerce, and to do all things
incident, proper or necessary in connection
Herewith and useful in carrying on its bust
ness.
Article III. The capital stock of the cor
poration shall be one hundred thousand $780,.
O0OOO) dollars, of which seventy-hve thousand
(S75, 10000 dollars, represented by seven hun
bred and fifty $50 shares of the par value
of one hundred $4,000 dollars per share
shall be preferred stock, and twenty five thou
sand (S25,00O0O dollars, represented by two
hundred and fifty ESQ shares of the par
value of one hundred $1,000 dollars per
share shall be common stock.
The preferred stock shall be entitled to d.
vidends of eight per cent $50 per annum in
each and every year, payable out of the net
profits of the Company by priority over the
payment of any dividends on the common
should the net profits in any year be INSULT
cient to pay said preferred dividends either
in whole or in part, any unpaid portion there
Of shall become a charge against the net