The herald. [volume] (New Orleans, La.) 1905-1953, 1919-11-13
CHARTER.

president of said corporation, or in case OF
his absence, upon the vice-presldent, or, IN
case of absence of both of these officers,
upon the treasurer hereof.
| ARTICLE III.-The objects and purposes
which this corporation is established, and
| the nature of the business to be carried On
| by it. are declared to be to carry on d
| general automobile business to buy and sell
automobiles, tires, parts and accessories and
generally to do all and everything in CON
nection with the operation OF an automobile
| business, to operate a garage. or garages.
| for the storing OF automobiles, 10 repair
automobiles and generally to d. all and
every act necessary and usually done in The
operation of a bonded warehouse fer Ike
storage of automobiles ana automobile parts
ARTICLE IV-The capital stock of his
corporation shall be Fifty thousand $50,
OO dollars, divided into five hundred
shares $500 of the par valuc Of Ono hun
dred $4,000 dollars each, and may be IN
creased to the sum OF One hundred thousand
(SICU,OD.0O) dollars, divided in!o one thousand
| q 1000 shares of the par value Of One Hun
dIe1 $4,000 dollars each, and this corpora.
tioI Is = be going concern when Os't- II
of the capital stock has ben subscribed for,
Each sharet of SAID stock shall be entitled to
one % vote, either in person or by proxy.
at all geneval elections or meetings OF the
stockholders
Should the capital stock of this corporation
ever be increased the sum OF Fifty
Thousand (S5O0OOOO) dollars, then such addi-
tional shares of stock that may be issued
shall first be offered to the holders of stock
at the time of issuance at the book value
of said new stock in the proportion in which
the said stockholders shall at the time OF
issuance hold stock in this corporation.
ARTICLE V.-No stockhoder shall ever
be held liable or responsible tor the IN
debtedness, faults or defaults of this cor
poration, nor shall any mere informality in
the organization of the corporation have the
effect of rendering the charter null or OF
exposing the stockholders to any liability
beyond the unpaid balance, if any, on his
stock subscription. Should any stakeholder
desire to sell his stock, he shall first offer
the same to the stockholders of the company
at its book value through its board OF dlrec
tors and the stockholders who desire to pur'
chase shall have the right to purchase the
same in the proportion to their holdings OF
stock in the company. Should said stock
holders in fifteen days after the notice hav'
ing been given, in writing, fail or refuse L
purchase the stock offered for sale, such
of stock shall be made or held to be valid
and binding unless made in pursuance OF the
provisions of this charter.
ARTICLE VI-This corporation shall have
all powers granted to such corporations by
law and shall have the power to contract
sue and be sued in its corporate name anc
to own, hold, receive, loan, lease, purchase
7
: its effects, or to hypothecate its property
ind to do any and all acts and things o.
any other kind nature or description, as may
be necessary to carry out the objects anc
purposes of said business its interests anC
convenienCes may require.
ARTICLE VII-The business of this cor
poration shall be directed by and vested
in a board of directors of four members, three
of whom shall constitute a quorum for the
transaction of business, and the said direS
! tors as first constituted shall be Edward
Jumonville, Henry ]. Jumonville, John L
Dasselliss and George A Dasselliss, anC
they shall hold office until the first Tues
day in September 1920, and on that day
and on the same day thereafter, elections
shall be held annually for directors at tn,
principal office of the corporation. Failure
to hold an election the day specified shall
! not dissolve the corporation, but the di
rectors shall hold their respective Offices
; until an election shall be held after thirt,
| days notice of the time and place thereo
given to each stakeholder. The annua
election shall be held on the first Tues
day in September, 1920, and thereafter OF
the first Tuesday of September of each sue
) ceeding year, and the election shall be hell