The herald. [volume] (New Orleans, La.) 1905-1953, 1917-03-29
CHAR TER

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CHARTER
OF MOTOR SECURITIES co. INC.
! tinted States ,i America. state Of Iouisi-
! ana, Parish ~ Orleans. City q; New Or
! leans.
Re :; ku.Nn, that ru ,hi, 9th day OF the
! month IF February. A II. 1917, before me,
! Edward Il. Ellis. a notary public, daily com
| above named parish and state, personally
! came and appeared: the several persons
/ whose names a-e hercunt1 subscribed, who
| IN the presence Of the witnesses hereinafter
| named and uder>iguel each and all de-
! eIared: that, awaiting themselves 4 the
! iaw- ot the state Of Louisiana, on the sub
! and especially OF At 2b7 Of 1914. they have,
! and do by these presents organize and con-
| Ntitu;e themselves. as well A. all other per
sons Who may hereafter become associated
p'.itc IN Law. u ENJOY corporate existence
during a period Of ninety-nine lo9D years
after this date, unless sooner dissolved and
pnder the following .s;ipulatons which they
| ZION or charter, to-wit:
| Article 1.-The name Of this corporation
| snail be Motor Securities Co, Inc, and its
ipmIci.e Is hereby declared TO be the CITY
CITATION or other legal process shall be
served on the president. and, in his absence,
secretary
Article 1.-THE objects and purposes of
this corporation, and the nature OF the bust
! ness to be carried on by 1t, are hereby de
clared to be as 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; 10 rent, deal in, purchase,
acquire, hold, own, sell otherwise spose
OF, mortgage and hypothecate automobiles
OF every description with full power to Dor.
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 10 any of said
objects; to establish branch Offices or agen-
cieS at any place; or places, that the board
Of directors may deem advisable and 10 carry
on any part OF its business and exercise
any part of its powers outside the state OF
l.OuIsi ana, or in foreign countries.
And IN general to do anything necessary
incidental 10 and connected with said objects
and purposes, well as to exercise all
rights and powers conferred on corporations
by Act 267 of 1914.
Article III.-The capital stock Of this cor.
p.oration IS hereby fixed at the sum of ten
thousand dollars SlOOOOO, divided nnts
one hundred GOD shares of common stock
Of par value OF one hundred dollars (SlOO)
each
The capital stock Of this corporation may
be increased 10 one hundred thousand dol
lars GlonO0.OO to be divided into common
and preferred with such powers or restric-
accordance with law.
The preferred stock shall be entitled only
TO annual dividends at the rate of go pay
able mi-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 liquidated
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 may
h. 81 4.
end of any semi annual period, upon the pay
ment to the holder the par value only and
all payments due to the date of payment
No stockholder Of this corporation shall
poratIon owned by him until he shall have
first offered the same to each of the other
stockholders thereof, for period of thirty
board of directors of this corporation, who
shall, for the purpose be considered the
agent for the remaining stockholders, who
shall have the right to purchase same at
said book value, in proportion to the stock
owned by them
Article IV.-Al of the corporate powers
Of this corporation shall be vested in and
Of not less than three o. nor more than
nine (9) directors, to be elected at meet
ing of the stockholders held for that pur-
pose, at the domcie 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
fifteen Q5) days prior to each meeting,
the post office properly addressed, TO the
last known address of each stakeholder, as
shown by the books of the corporation.
The board of directors of this corporation
shall Immediately after their election and
qualification for office select from among
their number president. a secretary and
treasurer provided the Offices OF secretary
and treasurer may he combined, and may
or mr. y1rs he hrs
board Of directors OF this corporation is de-
clared to be composed of Benedict NJ. Grune-
valid, Of 202S Napoleon Avenue, New Orleans,
La, Edward r. Greenlaw, Of 2555 Esplanade
avenue, New Orleans; Lewis L. Morgan, OF
Covingtor, La; Francis J. Keller, OF 2Ol5
5. Dupre street, New Orleans: Edward b.
Ellis. 1888 $. Johnson street. New. Orleans;
La. with Edward b. Ellis president and
Benedict NJ. Grunewald vice-president and
Francis J. Keller as secretary treasurer.
The said board Of directors shall have power
poration. or to remove the same at pleasure,
and they shall also have the power TO NIL
any vacancies in their number, and shall
make such bylaws from time to time, and
amend the same, as they may deem expe-
Article V.-Said appearers declare that they
subscribe, respectively, TO the number OF
shares OF the capital stock OF this corpora
ton set opposite their respective names.
Article NI.-Ths charter may be amended,
the capital stock thereof increased or de-
creased, or this corporation dissolved. in
accordance with the provisions of Act 267 OF
the legislature OF the State OF Louisiana for
the year 1914
Thus done and signed in my office at New
Orleans Louisiana, in the presence of Her
bert W. Kaiser and Joseph A Murphy. com
peteut witnesses, on the 9th day of Febru-
airy, 1917, after due reading of the whole.
Names of subscribers omitted
Witnesses: IL ". Kaiser, J. A. Murphy
EDWARD B. ELLIS, Notary Public
l. the undersigned recorder Of .1o--Uaoes
in and for the parish Of Orleans. State al
Louisiana, do hereby certify that the above
and foregoing act of Incorporation of the
Motor Securities Co., Inc, was this day re-
Gorded in my office, in book l2O6, folio l34
New Orleans February 8, 1917
(Signed EMILE J. LEONARD, by. R.
A true copy.
EDWARD B. ELLIS, Notary Public.
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