The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-17

United States Of America, state of Louis
lana, City OF New Orleans. Be it known,
that on this twentieth GOTH day OF the
month OF March, in the year of our Lord, one
thousand nine hundred and nineteen Q9l9),
before me, Charles ]. Rivet, a Notary Public
duly commissioned and qualified in and
for the Parish of Orleans. State of Louis
lana, and in. the presence of the witnesses
hereinafter named and undersigned person
ally came and appeared the several persons
whose names hereunto subscribed who
declared, that availing themselves OF the
provisions of the laws of the State of Louis
lana relative TO the formation of corpora
tons and particularly of Act 267 of
the General Assembly of the State of Louis
lana in the year 1914, they have covenanted
and agreed, and do by these presents cove
nant. agree and bind themselves, as well
as such other persons as may hereafter be
come associated with them, to constitute and
form corporation and body polite in law.
tor the objects and purposes and under the
terms, articles and stipulations following, to-
wit:
ARTICLE 1.-The name and title of this
corporation shall be Farm and Industrial
implement Co., Inc, ana ny That corporate
name IL shall have and enjoy succession for
a period OF ninety nine (99) years, and shall
have all the authorities generally vested in
corporations under the law, and, more par
ticularly ii shall be authorized to contract
sue and be sued; to make and use a cor
porate seal; to make and issue bonds and
notes. to borrow and lend money; to &C
quire property by grant, gift, purchase, devise
or bequest; to sell, mortgage, pledge, lease
and transfer property in any of its forms;
to employ agents, clerks, superintendentS
and other employees as the interest of the
company may require; to make bylaws.
rules and regulations for the management of
its affairs; and to possess all the powers
granted and intended to be granted to cor
porations in general, and in order to carry
lnt,t he nd of mi
cation.
ARTICLE 1.-THE domicile of this cor.
poraton shall be in the City of New Or
| leans, Parish of Orleans, State of Louisiana
| and all citations other legal process shall
| be served upon its President. in his abb
sence upon its Vice President.
ARTICLE III-The objects and purposes
for which this corporation is formed and the
nature of the business to be carried on by
it hereby declared to be: To buy, sell
| lease, mortgage, store, repair manufacture
and otherwise deal in tractors, trucks, motor
vehicles. farm implements of all descriptions
and their parts, equipments, accessories anc
| appurtenances; TO operate garages; to buy
and sell gasoline, kerosene, and all kind
| of oils greases and the like. To engage II
any business capable Of being conveniently
carried in connection with the foregoing
or calculated, directly or indirectly, to en-
nance the value render more profitable
any of the property or rights and interest:
any and all things appertaining to, growins
out of, or in any way related to the natur,
of the aforesaid objects and purposes.
| ARTICLE IV.-The capital stock of thl:
corporation is hereby fixed at the sum o.
Fifty thousand Dollars (s500O0O), divided
into and represented by five thousand 5000
shares of the par value of ten dollars $1,000
each OF said five thousand shares, twenty
five hundred shares amounting to twenty
| five thousand dollars (S25,00m shall bt
| IL.
hundred shares amounting to twenty-five
thousand dollars (S25,OOO0O) shall be com
mon stock The holders of the preferred
stock shall be entitled to receive, when anC
as declared, from the surplus or net pro
| fits Of the corporation, yearly dividends a
| the rate of twelve per centum per annun
payable monthly. or quarterly, or yearly a.
! the Board of Directors may decide. Tn,
dividends on the peferred stock shall b,
I cumulative, and shall be payable before
any dividend on the common stock shall BE-
paid or set apart; so that, if in any yea
dividends amounting to twelve per centun
shall not have been paid said preferred
stock. the deficiency shall be payable before
any dividends shall be paid on or set apar
| for the common stock. Whenever all cumula
tive dividends on the preferred stock 70
all previous years shall have been declared
and shall have become payable, and the &C
crued dividends for the current year shall
have been declared and the company shall
have paid such cumulative dividends 70
previous years, and such accrued dividends
or shall have set aside from its surplus o
net profits sum sufficient for the paymen
thereof, the Board OF Directors may declar
dividends on the common stock, payable the
or thereafter, out of any remaining surplu
or net profits. In the event Of any liqui
dation or dissolution or winding up (whethe
voluntary or involuntary of the corporation
the holders of the preferred stock shall b
entitled to be paid and receive. in fu
both the par amount OF their shares and tn
unpaid dividends accrued thereon. the re
naming assets and funds shall be divide
and paid 10 the holders of the common stoc
proportionately. according to their respet
tive shares. The capital stock of this Co
poration may be increased to One Hundre
Thousand Dollars (slO,0O0O. No transf'
of the stock Of this corporation shall be a,
: mitted or held valid or binding, so far
the corporation is concerned. unless mao
upon its books. This corporation ma
and it hereby reserves the right. to purchas
redeem. retire and cancel any and all or. a
OF the then outstanding preferred stock
A. aT& Ia