The herald., 1914-07-09
CHARTER OF THE
SOUTHERN MOTOR CAR COMPANY.

United States OF America, State OF Louisiana
Parish of Orleans.
BE it known, That on this 18th day Of June
1914, we, the undersigned several persons of
lawful age. and each residing in the city OF
New Orleans. "a, availing ourselves Of the
general laws Of the State of Louisiana, ana
especially of act No. 78 Of 1904 do hereDy
form ourselves into corporation and body
polite for the objects and under the stipu,a-
Article 1.-The name and title of this cor
poration shall be SOUTHERN MOTOR CAR
COMPANY, with its domicile in the city of
Article 1.-THE purposes and objects of
the said corporation are hereby declared TO
be: To engage in an automobile car agency
and store automobiles and other motor-driven
vehicles, and all accessories thereto; and gen.
orally 10 do all things necessary or conven-
lent 10 properly conduct the business of this
Article III.-This corporation shall exist for
a period OF ninety nine years from and after
the date hereof. unless sooner dissolved in
the manner hereinafter provided.
The corporation shall have and enjoy all
rights, privileges and inmun:tieS granted BY
law to corporations. and under its corporate
contract, sue and be sued; to make and use
a corporate seal and the same to change,
alter or destroy at pleasure, but the failure
to have a seal shall not invalidatr any "
the acts or proceedings OF this corporation,
to hold, receive, purchase, hypotheCatr, con
Ney, sell, lease, or pledge real and personal
property; to issue negotiable bonds and notes
or other evidences OF debt; to have and cni-
ploy such managers, directors, officers and
agents and other employees as its interests
may require, and to make and establish such
bylaws, rules and regulations for the proper
management and control of the affairs OF III.
said corporation as may be necessary and
proper and the same to alter and amend a,
pleasure.
All citation and other process shall ne
served on the president, and in his aO.
sence on the yice-president, and in the
sence Of both on the secretary -treasw--.
Article lV.-The capital stock of this cor
poration is hereby fixed at twenty-five thou
sand dollars CS25,OOO), divided into and repre-
sented by two hundred and fifty (25C) shares
OF the par value OF one hundred dollars .SlOO'
each.
The corporation shall become a going con-
Germ and shall be authorized to commence
business as soon as three thousand dollars
$1,000 of its capital stock shall nave bec>
subscribed for; the remaining shares OF stock
shall be issued by the board of directors
when and as they deem fit and proper.
/ All shares of stock shall be paid for il cash
or its equivalent. and must be fully paid be-
fore the issuance of the certificate tnercof and
shall be worcestershire. Said stock shall be
represented by, stock, certificates, transfer
able only on the books of the company on
the surrender of the outstanding cert 'hCates,
or proof of loss thereof, and under such rules
and regulations as the board OF directors may
provide
The general provision for the transierance
of stock is that II must be first offered in
writing, and at its book value, to the board
of directors of the company, who shall have
the option OF purchasing at the book
value at the time said stock is offered for
SALE and should the directors fail 10 MAKE
the purchase of said stock within thirty dav-
from the time of offer, then the holder and
owner of the stock may dispose of II in the
open market. But the incorporators hereby
specially agree that the stock herein sub
scribed for by them shall not be sold OF
transferred to anyone other than 20 one or
more OF the incorporators without the conSen-
of majority of the incorporators who
still stockholders at the time of the trans
ferance of the stock.
The said capital stock may be increased or
diminished by proceedings taken in accord
ance with the laws of the State of Louisan..
Article V.-All the corporate powers OF this
corporation shall be vested in and exercised
by board of three directors, each Of whom
shall own at least one share of the corpora.
tion. Said directors shall be elected by ballo-
at the annual meeting of the stockholders OF
the company, which annual meeting shall be
held the third Tuesday of January in eacn
year; at which meeting each stockholder shall