The herald. [volume] (New Orleans, La.) 1905-1953, 1919-04-24

United States of America, State of Louis.
lana, City Of New Orleans. Be il known,
that on this twentieth GOTH day OF the
month OF March. in the year of our Lord. one
thousand nine hundred and nineteen 1870.
before me, Charles J. Rvet, a Notary Public
duly comm SsiOned and qualified in and
for the Parish OF Orleans, State of Louis
Iana, and IN the presence, of the witnesses
hereinafter named and undersigned, person
ally came and appeared the several persons
whose names are 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 more 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 a corporation and body polite in law
for the objects and purposes and under the
terms, articles and stipulatons following, to-
wit:
ARTICLE 1.-The name and title of this
corporation shall be Farm and Industrial
Implement Co, Inc, ano ny That corporate
name II 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 10 shall be authorized to contract
sue and be sued; to make and use cor
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, superintendent
and other employees 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
nut fha oh al x
cation.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans, Parish of Orleans, State of Louisiana,
and all citations or other legal process shall
be served upon its President, or in his alb
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 are 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 and
appurtenances; to operate garages; to buy
and sell gasoline, kerosene, ande all kinds
of oils, greases and the like. To engage in
any business capable of being conveniently
carried in connection with the foregoing
or calculated. directly or indirectly, TO en-
nance the value or render more profitable
any OF the property or rights and interests
fthis corporation. And generally, to do
any and all things appertaining TO, growing
out of, or in any way related to the nature
of the aforesaid objects and purposes.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the of
Fifty Thousand Dollars (S500O000), 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,OcO0O) shall be
preferred stock; and the other twenty-five
hundred shares amounting to twenty-five
mon stock. The holders of the preferred
stock shall be entitled to receive, when and
as declared, from the surplus or net pro
fits of the corporation, yearly dividends at
the rate of twelve per centum per annum
payable monthly, or quarterly, yearly as
the Board of Directors may decide. The
dividends on the peferred stock shall be
cumulative, and shall be payable before
any dividend on the common stock shall be
paid or set apart; so THAI. If in any year
shall not have been paid said preferred
stock, the deficiency shall be payable before
any dividends shall be paid on or set apart
for the common stock. Whenever all cumula-
tive dividends the preferred stock for
all previous years shall have been declared,
and shall have become payable, and the ac-
crued dividends for the current year shall
have been declared and the company shall
have paid such cumulative dividends for
previous years, and such accrued dividends,
or shall have set aside from its surplus or
net profits a sum sufficient for the payment
thereof the Board of Directors may declare
on the common stock, payable then
or thereafter, out of any remaining surplus
or net profits. In the event of any ldui
dation or dissolution or winding up (whether
or involuntary of the corporation,
the holders of the preferred stock siAll be
entitled to be paid and receive. in full.
both the par amount Of their shares and the
unpaid dividends accrued thereon, the re-
manning assets and funds shall be divided
and paid to the holders of the common stock
proportionately, according to their respec-
tive shares. The capital stock of this cor
poration may be increased to One Hundred
Thousand Dollars (Sl00OO.0O). No transfer
of the stock of this corporation shall be ad-
mitted held valid or binding, so far as
the corporation is concerned. unless made
upon its books. This corporation may,
and it hereby reserves the right. to purchase,
redeem, retire and cancel any and all or all
OF the then outstanding preferred stock of
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