The herald., 1919-11-06
CHARTER.

| president of said corporation or in case OF
his absence, upon the vice-president. 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 1t, declared 10 be TO carry on a
| 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 o: an automobile
| business, to operate garage. garages.
| for the storing of automobiles, 10 repair
automobiles and generally TO d. all and
every act necessary and usually done in he
operation of a bonded warehouse for .he
storage of automobiles ana aT.omjjle parts.
ARTICLE IV-The capital stock Of his
| corporation shall be Fifty thousand ESQ.,
0O00O dollars, divided into five hundred
shares $500 Of the par value Of One hun
| dred (SlOOOO dollars each, and may be IN
| creased 10 the of One hundred thousand
| Gloc000O dollars, divided ingo one thousand
! Q,OOOJ shares OF the par value Of One Hun
| GEe1 $4,000 dollars each, ani this corpora.
| troI Is = be a going concern when G.ne-i III
! OF the capital stock has ben subscribed for,
| Each sharet OF sad stock shall be entitled to
one % vote, either in person or by proxy.
at all general elections meetings OF the
stockholders.
Should the capital stock of this corporation
| ever be increased the sum OF Fifty
Thousand (S5O,O0OoO) dollars, then such add
tonal 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 stockholder shall ever
| be held liable or responsible for the in
debtedtess, faults or defaults of this cor
poration, nor shall any informally in
| the organization of the corporation have the
effect OF rendering the charter null of
| exposing the stockholders 10 any liability
| beyond the unpaid balance, if any, his
| stock subscription. Should any stoCkholder
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 direc-
| 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 refuse 10
purchase the stock offered for sale, such
stock may be sold to any one. No transfer
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 and
to own, hold, receive, loan, lease, purchase,
sell ana convey or mortgage any and all OF
its effects, or to hypothecate its property
and to do any and all acts and things OF
any other kind, nature or description, may
be necessary to carry out the objects and
purposes OF said business its interests and
conveniences may require.
ARTICLE VII.-The business of this cor
poration shall be directed by and vested
in board of directors of four members, three
of whom shall constitute a quorum for the
transaction of business, and the said direc-
tors first constituted shall be Edward
Jumonville, Henry J. Jumonville, John L.
Diassellss and George A. Diasselliss, and
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 the
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 thirty
days notice of the time and place thereof
given to each stakeholder The annual
election shall be held on the first Tues,
day in September, 1920, and thereafter on
the first Tuesday of September of each sue
ceeding year, and the election shall be held