The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-08
CHARTER.

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president, or in case of the absence of
both of these officers, upon the secretary
thereof.
ARTICLE III.-The objects and pur
poses for which this corporation is estab-
liShed, and the nature of the business 70
be- carried on by il are to buy and sell
at wholesale and retail. trucks, automo-
bileS. tractors, automobile tires, automo-
bile accessories, parts of automobiles, au-
tOmOtiVe supplies of whatsoever kind: to
furnish tire and battery service: to conduct
Il garage; to sell oils and other things
connected with the use or operation of au-
tomObileS; to repair and equip autOmO-
biTrS: to store cars for hire: TO buy and
sell real estate for the purposes of the
business and generally to do any and all
things and acts essential to or usually
done in connection with the purposes for
which this corporation is formed.
ARTICLE IV.-The capital stock of this
corporation shall bc Forty thousand $40
100000 dollars. divided into four hundred
400 shares of the par value of one hun
dred tSlOO.uOD dollars each. and may he
increased To the sum of TWO hundred and
fifty thousand (S2J0OuOOW dollars. di-
vided into twenty-five hundred t2.Inub
shares of the par value Of one hundred
(S1OOOO) dollars each. and this corpora
ton l. 70 lie going concern when one
half of the capital stock has been Sub~crih-
ed for and Onc-half thereof paid for. Each
share of the stock shall he entitled To one
vote. either in person or by proxy. ut all
general elections or meetings of stock
holders.
should the capital stock of this corpora
ton ever be increased over the sum of
forty thousand (SiO.OOO.OOl dollars, then
such additional shares of stock that may
be- issued shall first be offered to TIA"
holders of stock mt the time of i>Suanr"
M the book value Of said new stock in
The proportion in which the said stock
holders shall ut the tim" of ISSUANCE" hold
stock in this corporation, and should any
stockholdrr not purchase his proporuonate
a IL. -It.f1l l.a ,ttfs rod In
The other stockholders in proportion I"
the number of shares held by them at the
time of the issuance of the new stock
ARTICLE V-No stakeholder shall ever
be held liable or responsible Tor the N
drbtedncSS. faults or defaults of TINS cor
poration. nor shall any mere informaltN
i'm the organization of the corporation nave
the effect of rendering the charter nun or
of exposing the stockholders TO any Ia
hility beyond the unpaid balance. if any.
on his stock subscription. Should any
stakeholder desire to sell his stock. u"
shall first offer the same to the stock
holders of the company at its book value
through its Secretary, and the StOckhold-
erS who desire to purchase shall have the
right to purchase the same IN the proper
tion to their respective holdings OF stock
i'm the company. Should any stOckh older
not wish to purchase his prOpOrtionate
share then his share shall he Offered 10
the other stockholders prop0rtionatE 10
the number of shares owned 10y them.
Should said stockholders in fifteen days
after notice having been given, in writ
ing. fail or refuse TO purchase the stock
offered for sale such stock may he sold
TO any one. No transfer of stock shall be
made or held TO be valid and binding un-
less made in pursuance of the provisions
of this charter.
ARTICLE VI.-This corporation shall
have all powers granted to such corpora
lions by law and shall have the power
to contract, sue and be sued in its cor
pOrate name, and to own, hold, receive.
=. Ill ..Vnl Al
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. as may be neces-
Sary to carry out the objects and purposes
of said business as its interests and con
veniences may require.
ARTICLE VII-The business of this
corporation shall be directed by and vested
in Board of Directors consisting of three
members. two of whom shall constitute
quorum. for the transaction of business,
aud the said Directors as first constituted
shall be Noah Weaker, julius Forsyth
and Il. f. Zerlin. and they shall hold
office until the first Monday in February,
1921. and on that day and on the same
day thereafter elections shall be held an
nually for Directors at the principal office
Of the corporation. Failure TO hold an
election on the day specified shall not
dissolve the corporation. but the Directors
in office 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 Mon
day of February. 1921, and thereafter on
the first Monday of February of each sue
ceeding year, and the election shall be
held between the hours of ten and twelve
a. m. All vacancies on the Board of hi
rectOrs, for whatever cause shall he filled
by the remaining Directors. Noak Weak
er shall be the first President. Julius
Forsyth shall be the first Vice President.
and X. f. Zerlin shall be the first Sec
office until the first Monday in February.
1921, or until their successors are elected.
and each succeeding Board of Directors
shall elect its principal officers for the
term of their election and only stOckhOld-
ers shall be eligible for election as a
member of the Board of Directors hi
rectors may act either in person or by
proxy.
ARTICLE VIII-Whenever this corpor-
alton is dissolved. either by limitation or
for any other cause. its affairs shall he
liquidated by the Board of Directors who
are hereby vested with full power to sell
any or all assets of the corporation. either
separately or in a mass and to convey
full and complete title thereto. and shall
have full power to do and perform all acts
necessary and proper to fully and com
pletely Hquidate the affairs and distribute
the proceeds, IL any. among the stOckhold-
ers or this corporation to the amount of
stock held by each.
ARTICLE IN-This act of incorporation
may he amended. altered and modified or
this corporation dissolved in the manner
provided by law.
Thus done and passed, in my nOtarial
office. in the City of New Orleans State
OF Louisiana. on the day. month and year
first hereinabOve written. in the presence
OF Ruth VI. Seller and Gustave Lemle com
potent witnesses. who have hereunto
signed these presents. together with the
parties hereto and me. Notary after
reading of the whole.
witnesses: Gustave Lemle, Ruth "
Seller.
Julius Forsyth. 1852 Brainard ST.. New
Orleans, La. 40 shares; Noah Weaker
2oi1 Clio St. New Orleans. La. $50 shares
X. +. Ierlin. 1879 CarOndelet ST. New
Orleans. La, $50 shares.
4. a. MORENO. Not Pub.
L, the undersigned Recorder of Mort
cages. in and for the Parish of Orleans
state of Louisiana. do hereby certify that
the above and foregoing Act of IncorpOra-
ton of the New Orleans Auto Supply
company. Inc, was this day duly record
ed in my office in Book 1898 Folio 600
New Orleans. March 18th. 1920.
tSignedl EMILE J. LEONARD, by. r.
Apr. SHAY IL.
CHARTER AE THE yIDHIN rDEur AVN