The herald. [volume] (New Orleans, La.) 1905-1953, 1920-04-15
CHARTER.


president, or in case of the absence of
both of these officers, upon the secretary
thereof.
ARTICLE III.-The objects and DUR
poses for which this corporation is estab-
lished, and the nature of the business to
be carried on by it are to buy and sell
ut 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
garage; to sell oils and other things
connected with the use or operation of au-
tOmobiles; to repair and equip automo-
biles; 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 be Forty thousand $40
100000 dollars, divided into four hundred
(i00l shares Of the par value of one hun
bred (Sl0O00) dollars each, and may be
increased to the sum of two hundred and
fifty thousand $3.50 100000 dollars. di-
vided into twenty five hundred (25OOl
shares of the par value of one hundred
C$lO0.00) dollars each, and this corpora
ton l. TO be a going concern when one
half of the capital stock has been subscrib-
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. at all
general elections or meetings Of stock
holders.
should the capital stock of this corpora
ton ever he increased over the sum OF
forty thousand (Sf0,0O0O0D dollars, then
suCh additional shares of stock that may
be issued shall first be offered TO the
holders of stock at the time OF issuance
mt the book value of said new stock IN
rho propOrtiOn in which the said stock
holders shall at the time of issuance hold
stock in this corporation. and should any
stockholder not purchase his proportionate
share then said share shall he offered L"
the other stockholders in proportion 10
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 LOT me ~
drbtednrss, faults or defaults OF TINS cor
poration nor shall any mere informalltN
i'm the organization of the corporation have
the effect of rendering the charter nun or
of exposing the stockholders 10 any ma
bility beyond the unpaid balance, II any
ON his stock subscription. should any
stockhOlder desire TO sell his STOCK. u"
shall first offer the same to the stock
holders of the company ut its book value
through its Secretary. and the StOckhold-
rrS who desire to purchase shall have the
ri ght To purchase the same in the proper
ton to their respective holdings OF Sto'h
i'm the company. Should any slOckhoidtr
not wish to purchase his propOruonate
share then his share shall he offered To
the other stockholders proportlonatr Ia
the number of shares owned by them,
after notice having been given, in writ
ing fail or refuse to purchase the stock
offered for sale, such stock may u" Solh
TO any one. No transfer of stock Shall ne
made or held 10 he valid and binding I'M
less made in pursuance Of the provisions
OF this charter.
| ARTICLE VI.-ThiS corporation shall
have all powers granted to >uch CORPORA
| tions by law and shall have the power
| to contract sue and Ice sued in its cor
porate name. and to own, hold, receive
| loan lease. purchase, sell and convey OF
mortgage any and all of its effects, or ia
hypOthecat" its property ana To 40 ah;
| and all acts and things of any other kind
nature or description. as may he necrS'
| Sary to carry out the objects aud purposes
of said business as its interests and con
venienccS may require.
| ARTICLE VII.-The business of thi,
corporation shall be directed by and vested
| in a Board of Directors. consisting of three
members, two of whom shall constitute 9
quorum, for the transaction of business
| and the said Directors as first constituted
| shall he Noah Weaker. Julius Forsyth
and II. f.. Zerln, and they shall hold
| office until the first Monday in February
| 1921. and Oh 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 al
| election on the day specified shall moi
| dissolve the corporation. but the Directors
| in office shall hold their respective office
until an election shall he held after thirty
| days notice of the time and place thereof
| given to each stakeholder. The annua
| election shall he held on the first Mon
day of February. 1921 and thereafter OF
/ the first Monday of February of each sue
| ceeding year, and the election shall b'
held between the hours of ten and twelve
| a. m All vacancies on the Board of hi
| rectors, for whatever cause. shall be filled
! by the remaining Directors. NOak Weak
| er shall be the first President. Julius
| Forsyth shall he the first Vice President
and X. Il. Zerlin shall be the first Sec
| rotary Treasurer. and they shall hold
| office until the first Monday in February
and each succeeding Board of Directors
| shall elect its principal Officers for thu
| term of their election and only stockhold
| ers shall be eligible for election as
member Of the Board of Directors. hi
rectors may act either in person or b,
proxy.
ARTICLE VIII-Whenever this cOrpor
| alton is dissolved. either by limitation Of
for any other cause, its affairs shall b.
| liquidated by the Board of Directors. wh'
are hereby vested with full power to sci
any or all assets of the corporation, eithel
| separately or in mass. and TO conve,
| full and complete title thereto. and shall
| have full power to do and perform all act.
| necessary and proper to fully and com
pletely liquidate the affairs and distribute
the proceeds, if any. among the stockhold
| ers of this corporation to the amount o
| stock held by each.
ARTICLE IX.--This act of incorporation
may be amended, altered and modified o.
this corporation dissolved in the name
provided by law.
Thus done and passed. in my notaria
| office, in the City of New Orleans. Stat
| of Louisiana. on the day, month and yea
first hereinabOve written, in the presence
of Ruth NJ. Seller and Gustave Lemle. com
petent witnesses, who have hereunt'
| signed these presents. together with tn
parties hereto and me, Notary, after
| reading of the whole.
Witnesses: Gustave Lemle, Ruth NJ
Seller.
Julius Forsyth. 2252 Brainard ST.. New
Orleans, La, 40 shares; Noah Weaker
2035 Clio ST.. New Orleans. La. $50 shares
r. +. Zerlin, 1879 Carondelet ST., New
Orleans, La, $50 shares.
A. A. MORENO, Not Pub.
i, the undersigned Recorder of Mort
cages. In and for the Parish of Orleans
State of Louisiana. do hereby certify tina
the above and foregoing Act of Incorpora
ton of the New Orleans Auto Suppl!
Company, Inc, was this day duly record
ed in my office in Book 1888 Folio $50.
New Orleans. March 18th. 1920.
(Signedl EMILE J. LEONARD, by. r
Apr. S-May Is.
iCHaRTER OE THE VIRGIN yREFI AMI