The herald. [volume] (New Orleans, La.) 1905-1953, 1917-03-22
CHAR


L VT MOlOK SELL HI lies ~, IN.
TINTED States OF America, State Of Louisi-
! ana. Parish Of Orleans, City Of New Or
| leans.
Be it known. tina, on this oh day of the
month of February, A. d. l9I7, before me,
| Edward b. Ellis, notary public, duly com
| mlSsl0ned land qualified in and for the
| above named parish and state, personally
| came and appeared the several persons
! whose names hereuuto subscribed, who
| IN the presence OF the witnesses hereinafter
| named and unders igned, each and all de-
| cidred: that, awaiting themselves 4 the
| laws OF the state OF Louisiana, on the sub
| JeCt OF the Incorporation Of corporations,
and especially Of Act 257 OF 1914, they have.
ard do by these presents organize and con-
Stltute themselves, as well all other per
sons who may hereafter become associated
with them, into a corporation and body
polite IN law, TO enjoy corporate existence
after this date, unless sooner dissolved and
under the following stipulatiOns which they
hereby adopt their articles of incorpora-
ton or charter, tO-wit:
Article 1.-The name OF this corporation
shall be Motor Securities Co., Inc, and its
domIcile is hereby declared to be the city
OF New orleans. State OF Louisiana, and all
citation or other legal process shall be
served the president, and, in his absence,
on the secretary.
Article 1.-THE objects and purposes Of
this corporation, and the nature Of the bust
clared to be follows:
To buy, sell and deal in and to act as
brokers for the purchase and sale of all
kinds OF commercial paper, mortgages, notes,
stocks and bonds; TO rent, deal in, purchase
acquire, hold own, sell or otherwise dispose
Of, mortgage and hypothecate automobiles
OF every description with full power TO bor-
row or loan money secured by mortgage or
otherwise.
To enter into all contracts, agreements or
engagements or incur any obligations CON
nected with or .appertaining TO any of said
IN a11 -,
cieS at any place, or places, that the board
Of directors may deem advisable and to carry
on any part of its business and exercise
any part OF ITS powers outside the state of
louisiana, or in foreign countries
And in general to do anything necessary
incidental to and connected with said objects
and purposes as well as to exercise all
fights and 3dz P2 pc s6 conferred on corporations
Article IIL.-The capital stock of this cor.
poratlon IS hereby fixed at the sum of ten
thousand dollars ElO,OcOOO), divided hint.
one hundred 600 shares of common stock
each. N'''>
The capital stock of this corporation may
be INCREASED to one hundred thousand dol
lars (SlpO,OOOO) TO be divided into common
and preferred with such powers or restric-
tons as the stockholders may decide in
| accordance with law
The preferred stock shall be entitled only
to annual dividends at the rate of SC6 paw
able semi annually on the LIST Of January
and July in each year, which shall be Gu.
mulative.
In case of the dissolution OF this corpora-
ton, the preferred stock shall be liuuidated
| at par before the common stock, but shall
| have no further interest in the assets or
| the profits of the company.
The preferred stock or any part thereof nav
| be retired by the board Of directors at the
end OF any semi annual period, upon the pay
| ment to the holder the par value only and
| al! payments due to the date of payment
! No StOckholder of this corporation shall
| sell, or offer to sell, any stock of this cor
Poration owned by him until he shall have
hrSt offered the same TO each of the other
stockholders thereof, for a period of thirty
| 800 days at the book value of said stock.
| lhis offer shall be made in writing to the
board OF directors Of this corporation, who
shall, for the purpose be considered the
agent for the remaining stockholders who
| snail have the right TO purchase same at
SAID book value, in proportion to the stock
Article Iv.-All of the corporate powers
| OF this corporation shall be vested in and
I exercised by board of directors composed
| OF not less than three 81 nor more than
nine ~ directors, to be elected at a meet
ing OF the stockholders held for that pur-
pose, at the domicile of the company. on the
| second Wednesday in January, 1918 and
annually thereafter; notice of which meeting
| shall be given to each stakeholder at least
hfteen QS) days prior to each meeting,
either personally, or by depositing same in