The herald. [volume] (New Orleans, La.) 1905-1953, 1920-05-06
CHARTER.

| upon the preSiueht OF this corporation, OIL
IN case or his absence upon the vice
president, or in case of the absence OF
| both of these officers, upon the secretary
! thereof.
| ARTICLE III.-The objects and mr.
poses for which this corporation is estab.
| nShed, ana the nature of the usineSs tC
| be carried on by ii 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; tC
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-
bileS; to store ears 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 $40
OO0OO) dollars, divided into four hundred
400 shares of the par value of one hun
increased TO the sum of two hundred and
| fifty thousand (S2j0OOO.0OD dollars, di-
| vided into twenty-five hundred (2.50Ol
| shares of the par value of one hundred
| ($l0O.OOD dollars each, and this corpora
| ton Is 70 he going concern when one
| half of the capital stock has been SubScrib-
| ed for and One-half thereof paid for. Each
share of the stock shall be entitled to one
vote. either i'll person or by proxy, at 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 $40. OOO.O0) dollars. then
such additional shares of stock that may
| be issued shall first he 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 stock
holders shall ut the time of issuance hold
stock in this corporation. and should an!
StOckholdpr not purchase his prOporlOnate
share then said share shall be offered 10
the other stockholders in proportion 10
the number of shares held by them at the
| time of the issuance of the new stock
ARTICLE y-No stakeholder shall ever
be held liable or responsible for the IN
debtpdnesS, faults or defaults OF TINS cor
pOration. nor shall any mere lnfOrmallty
in the organization of the corporation nave
the effect of rendering the charter nun or
of exposing the StoCkh FOLDERS to any Ia-
bilitv beyond the unpaid balance, if any,
on his stock subscription. should any
stakeholder desire 10 sell his STOCK. ne
shall first offer the same to the stock
holders of the company mt 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
ton to their respective holdings of stock
in the company. Should any stakeholder
not wish to purchase his prOportionate
share then his share shall be Offered to
the other stockholders prorortionate to
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 be 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
tons by law and shall have the power
to contract. sue and he sued in its cor
pOrate name. and to own, hold. receive.
loan, lease, purchase; sell and 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. 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 n
quorum, for the transaction of business.
and the said Directors as first constituted
shall be Noah Weaker, Julius Forsyth
and X. T.. 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 snail he neld 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 Di-
rectOrs for whatever cause, shall be filled
by the remaining Directors Noak Weak
or shall be the first President. Julius
Forsyth shall be the first Vice President
and II. f. Zerlin shall be the first Sec
rotary Treasurer. and they shall hold
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 he eligible for election as
member of the Board Of Directors. hi
rectorS may act either in person or by
proxy.
ARTICLE VIU.-Whpnpver this corpor-
alton is dissolved, either by limitation or
for any other cause its affairs shall be
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 mass, and to convey
full and complete title thereto and shall
have full power to do and perform all acts
pletely liquidate the affairs and distribute
the proceeds, il any. among the stockhOld-
erS of this corporation to the amount of
stock held by each.
ARTICLE IA.-ThlS act of incorporation
may be 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 NJ. Seller and Gustave Lemle. com
petent witnesses. who have hereunto
signed these presents. together with the
parties hereto and me, Notary, after a
reading of the whole
Witnesses: Gustave Lemle, Ruth VI.
Seller.
Julius Forsyth, 1852 Brainard St. New
Orleans, La, 40 shares; Noah Weaker.
2O35 Clio ST.. New Orleans La. $50 shares:
X. +. 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 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 800.
New Orleans. March 18th. 1920.
(Signed.l EMILE J. LEONARD, by. r.
Apr. S-May ID.