The herald., 1920-04-22
CHARTER.


upon the president of this corporation, or
in case of 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 pur-
poses for which this corporation is estab-
lished. and the nature of the business TO
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
a garage; to sell oils and other things
connected with the use or operation of au-
tOmObiles: TO repair and equip automO-
bilcs; 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 aud acts essential to or usually
done in connection with the purposes for
which this corporation is formed.
ARTICLE IN.-The capital stock of this
corporation shall he Forty thousand $40
OOoOO) dollars, divided into four hundred
(4OO) shares Of the par value of one hun
dred (SlO0.OOD dollars each. and may be
increased to the sum of two hundred aud
fifty thousand $3.50 100000 dollars. di-
vided into twenty five hundred (2,50Ol
shares of the par value Of one hundred
(SlOO.OO) dollars each, and this corpora
ton l. 70 he n going concern when one
half of the capital stock has been Subscrih-
ed for and One-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 be increased over the sum of
forty thousand (S40.OOOOOD 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
at the book value of said new stock III
the proportion in which the said stock
holders shall at the time of issuance hold
.l... ion NJ =
ockhoIder not purchase his proportionate
share then said share shall be offered TO
the other stockholders in proportion 10
the number Of shares held by them ~ the
time of the issuance of the new STOCK.
ARTICLE V.-NO stakeholder shall ever
ne held liable or responsible for the IN
dcbtednrss. faults or defaults OF TINS cor
poratiOn nor shall any mere lhtormal'H
In the organization of the corporation nave
the effect of rendering the charter nun or
of exposing the stockholders 10 any ha-
bility beyond the unpaid balance. IL any
on his stock subscription. should any
stakeholder desire to sell his stock. ne
shall first offer the same to the STOCK
holders of the company at its book Nalnt.
through its Secretary. and the Stockhoiu-
prS who desire to purchase shah nave thc
right 10 purchase the same in the proper
ton to their respective holdings OF STOCK
in the company. Should any stockhoider
not wish to purchase his propsosrtlonate
share then his share shall be Offered TO
the other stockholders proportlonate 10
the number of shares owned by them.
should said stockholders i'll 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 hpld-tO he valid aud binding I'M
less made in pursuance oil the PROVISIONS
of this charter.
ARTICLE VI.-ThiS corporation shall
have all powers granted TO such corpora
tions by law and shall have the power
I l.. V,.I In or
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 ana 10 do any
and all acts and things of any other kind.
nature or description, rs may he nec"S-
Sary to carry out the objects and purposes
of said business rs its interests and con
veniencrs may require.
| ARTICLE VU-The business of this
corporation shall be directed by and vested
| in Board of Directors. consisting OF three
members. two of whom shall constitute a
quorum, for the transaction Of business;
and the said Directors as first constituted
| shall be Noah Weaker. Julius Forsyth
| and Il. T.. Ierlin. 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 offlce
| 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 he 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 he
| held between the hours of ten and twelve
n. IN. All vacancies on the Board of III
| rectors. for whatever cause. shall he filled
by the re~nainng Directors. NOak Weak
or shall be the first President: Julius
| no no President
and X. +. Zerlin shall he 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 a
member of the Board of Directors. hi
rectors may act either in person or by
proxy.
ARTICLE VIII.-zWhenever 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 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 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 IX.-This 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,
| 2035 Clio ST.. New Orleans La. $50 shares
Il. r. Zerlin. 1879 Carondelet ST., New
| Orleans La, $50 shares.
A. A. MORENO, Not. Pub.
/. 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 1ncorpOra-
! 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.
(Signed.l EMILE J. LEONARD, by. r.
Apr. SHAY IL.
CHARTER OF THE vIRGIN-vREELAND