The herald. [volume] (New Orleans, La.) 1905-1953, 1917-08-02
CHARTER
OF THE THlBAI-r MOTOR COMPAN'
INC

IN
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.NH'.c / ne name ana i''.e 81 '"i' cor
| .'.'-'I 'liH 1e Inc lh!'aA' M'''i 'o"'-
P"hy' Inc. ana by max corporate name \
I Nl4'i nave ana enjoy Succession !p' period
oi mntty'nine years.
ArucIe 1.-The d'miclc OF this corporation
I shall be IN the tlty Ui New Orleans, PARISH
/ oi Orleans, State Of Louisiana.
/ A-t'y'c lII.-Thc objects aud purposes for
I which TINS corporation Is formed, and the
nature %; the business To be carried on by
] l,, are hereby declared 10 be: 10 buy, sell!
/ lease, -tp-c. repair and otherwise deal N
I automobiles, motor trucks, tractors. and motor
/ vehicle, pi all kinds and description, and
( 'Avlr p4rls aud accessories and appur,cu-
/ Au,r~; t. huy and sell gasoline and all kinds
/ ii oil. grease and the like aud go engage in
/ such o'aCT business or businesses as may be
| necessary OF incident thereto, as from time
]
/ dent and generally t. DO any and all thing,
/ Ippcrt4lulrg 20, grow .ug uu; Of and relating
/ % The nature VI the aforesaid objects and
/ purposes.
/ Article lN.-Ihc total authorized capital
I stock Of thI, corporation is ten thousand dol
/ .ars divided into one thousand shares II the
! par value Ut ten dollars each. Df such total
( authorized capital stock four hundred shares
amounting 10 i,ur thousand dollars shall be
! preferred stock, and SIX hundred shares,
! amounting 10 SIX thousand dollars, shall be
/ common stock. The holders Of the pre-
/ icTrri stock shall be entitled - receive,
/ when and a. declared, from the surplus or
/ the net profit, Of the corporation. yearly
/ dividends at the rate Of SIX per cent per
I auuum. PAYABLE annually. The dividends on
| the preferred stock Shall be cumulative and
/ shall be payable before any dividend on the
/ common stock shall be PAID or set apart So
/ Thar II in any year dividends amounting TO
! ~ per cent shall not have been paid there
! IN, the deficiency shall be payable before
any dividends shall be paid upon or set
apart for the cumulative Stock. The board
| Of directors IS hereby authorized. whenever
! they shall see TIT, 70 declare extra dividends
payable 10 the holders Of the preferred stock.
Whenever all cumulative dividends ON the
! preferred stock for all previous wears shall
have been declared, and shall have become
payable, and the accrued dividends for the
current year shall have been declared and
the company shall have paid such cumula.
tive dividends for the previous wears. and
such accrued dividends. or shall have set
Q 10 F-.r
sufficient for the payment thereof; the board
# directors nav declare dividends ON the
common stock, payable then or thereafter,
In the event of any liquidation or dissolu,
| ton or winding up twhe;her voluntary or in
voluntary OF the corporation, the holders Of
the preferred stock shall be entitled 70 be
paid in iull both the par amour; of their
shares. and the unpaid dividends accrued
thereon. before any amount Shall be paid to
the holders Of common stock; and after the
payment 70 the holder OF the preferred stock
Of It's par value, and the unpaid accrued div.
idends thereon, the remaining assets and
funds shall be divided and paid 10 the hold
rrs Of the common stock according to their
respective shares.
Said corporation may and it hereby re-
serves the right to purchase. redeem. retire
and cancel any and all or all OF the then
outstanding preferred stock OF the corpora
ton At any time. in such amounts from tine
- time and in such manner as the board Of
directors may determine. by paying TO the
respective holders Of the stock so retired. or
by depositing to their order at the office Of
the company, sum or sums equal to the
par value OF the preferred stock so retired
and cancelled, together with all accumulated
and unpaid dividends thereon, if any, In
case OF such deposit, written notice thereof
shall forthwith be given to the respective
holders Of the stock retired and cancelled
by mailing such notice to such holders al
their last known place Of business, if Shown
by II corporate record
Article N.-The capital stock of this cor
poratlou may be increased 10 fifty thousand
dollars (SSO,OOOO.
Article Nl-The board of directors shall
be composed OF not less than three nor more
than five stockholders, holding common
stock The majority of those elected shall
constitute a quorum to transact business
The preferred stock shall have no voting
power
The directors at their first meeting and at
each annual meeting shall elect from their
number a president, a vice-preSident and a
secretary and treasurer, which last two
named offices, however, may be combined at
the pleasure OF the board. The annual meet
ing for the election Of di-erto-s sLair 80
place on the third Tuesday of May OF each
year and until the meeting TO be held in
1922; the following shall serve as directors
Orleans, La; James Thibaut New Orleans
La; j. c. Menefee, New Orleans, La.
Article vII.-The subscribers hereto have