The herald., 1920-02-05
CHARTER.

air, gasoline and any other thing useful
for or used as motive power for vehicles;
to buy, sell and deal in all kinds of com
mercial papers, mortgages, notes, stocks
and bonds, and to mortgage and hypo-
thecate automobiles, trucks and tractors OF
every descriptions, with full power to Dor
row or lend money secured by mortgage
or otherwise. To do all and every thing
necessary, convenient or proper for the
! accomplishment of the purposes herein
stated, whether within or without the
| State of Louisiana.
| ARTICLE Iy.-The authorized capital
| stock of this corporation is hereby fixed
| at the sum of Twenty Thousand Dollars
/ $50 OOOOO), divided into and represented
/ by Two Hundred shares of stock of the
par value of One Hundred Dollars (SlOO.OO)
/ each. The capital stock shall be repre-
! scented by certificates, shall be fully paid
/ and non assessable when issued, shall be
/ issued only for labor done or for property
actually received, or for cash to be paid
at such times and in such amounts and
| after such notice as may be determined
/ by the Board of Directors and snail be
/ personal property. No transfer of said
/ stock shall be binding upon this corpora
/ ton unless made in accordance with its
| charter and bylaws and recorded on the
books thereof. The subscriptions to this
charter. however, shall be paid for in
! cash.
ARTICLE V.-All the corporate powers
/ of this corporation shall be vested in and
exercised by II Board of Directors to be
/ composed of three stockholders. The
| first Board of Directors shall be composed
Of; Frank :: Enstein, as T;oo PRESIDENT resident,
and Victor Adams, as Secretary Treas
urer: annually mt the domicile of the
! corporation on the second Tuesday of
/ January of each year, the stockholders
! shall elect from among their number three
! Directors who shall elect from among
| themselves President Vice-President
and Secretary Treasurer provided that the
Z n. nod
shall hold their office until the second
/ Tuesday of January, 1921, and until
/ their successors have been elected and
! shall have qualified Two Directors shall
constitute quorum and may transact
the business of this corporation. All such
/ elections shall be held by ballot and con-
Quoted ut the office of the corporation
under the regulations as may be estab-
lishpd by the Directors. Notice of such
election shall be given by the Secretary
/ Treasurer by written notice delivered per-
Sonally to the stockholders or by deposit
! ing the same in the Post Office, address,
ed to each stakeholder at least ten days
before such election. Stockholders shall
have the right of cumulative voting. Any
vacancy occurring among the Directors. by
death, resignation or otherwise shall be
filled by the remaining Directors. The
4 Board of Directors may make and estab-
liSh, as well as alter and amend, any and
all bylaws, rules and regulations neces-
sary and proper in its judgment for the
business and affairs of said corporation.
The Board of Directors shall have power
and authority to borrow money and to
give security therefor and generally to do
all things necessary and convenient for
the proper carrying on Of the business
of the corporation. Ii may authorize
the issuance of stock for cash actually re-
ceiyed by the corporation.
ARTICLE vI.-Regardless of who may
then be the stockholders Of this corpora
ton, the subscribers to this charter, or
such number thereof, as may wish to
avail themselves of the provisions of this
Article, are. in consideration of their sub
| scriptions to this charter hereby granted
the irrev0cable right and option to sub
| scribe at par and accrued dividends, if
any, to any unsubscribed stock and to
| any increased stock which may subsequent
| be authorized, in the proportion to which
! the subscription of each of the subscrib-
ers to this charter presently bears to the
other two. This irrevocable right and
option is hereby granted up to and includ-
/ ing December 31st, 1921.
ARTICLE VII.-This charter may be
amended and the capital stock of this
corporation may be increased or decreased.
or this corporation may be dissolved and
its affairs hquidated in the method and
manner provided by law, as now, or
may hereafter be, in force.
ARTICLE VIII.-No stakeholder of this
corporation shall ever be held liable or
responsible for the contracts or faults of
the unpaid balance on the stock for which
he has subscribed nor shall any mere
informality in organization nave the eff
feet of rendering this charter null or of
exposing a stakeholder to any liability
other than as above provided.
ARTICLE IX.-The subscribers hereto
have respectively written opposite their
names their post office addresses and the
amount of the capital stock in this cor
poration subscribed for by each of them,
so that this act of incorporation may also
serve as the original subscription list of
this corporation.
Thus done and passed, in my office, at
the City of New Orleans, on the day and
date first above written, in the presence
of J. Arthur Charbonnet and Leo ].
Vivien. competent witnesses, who sign
with the said appearers and me, notary,
after due reading of the whole.
Witnesses j. Arthur Charbonnet. Leo
J. Vivien.
Original Signed) Frank s. Einstein.
POI s. Gayoso. New Orleans. La, .
shares: William J. McLaney. 2513 Banks,
Adams, 230 s. Dupre ST., New Orleans,
+. d. CHARBoNNET.
| Notary Public.
| 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 "Nola Motor Company, Inc. !"
was this day duly recorded in my office
i'm book 1898. at folio.
New Orleans, January 9th, 1920.
| (Signed) EMILE J. LEONARD.
i Deputy Recorder of Mortgages.
#. d. CHARBoNNET,
Notary Public.
Ian 22-Feb &C.