The herald., 1921-06-23
CHARTER.


Officers. all elections of director shall
be by ballot, and each stockhcld"r .h,N
he entitled TO one vote for each share Of
stock standing in his name Ou the books
Of the corporation, this vote to bee cast
in person or by written proxy. and u
shall require majority or the stock pres
rut or represented TO elect The directors
shah have the right to increase thttE num-
b"r to five, IN which case three shall con-
>titUte quorum.
Failure 10 hold an election Tor directors
on the first Monday Of May, l"22. or an
nUaly thereafter, shall not WORK for
fcIturc OF this charter, hut the old Board
OF Directors shall remain in Off" uLll
their Successors are duly elected aud uudl-
flied.
ARTICLE VI The Board OF pI-r,t,r-
shall hold regular meetings so such ,I""s
as shall bee fixed in the bylaws Of t'is
corporation. but the president w"v ,tl
special meetings OF IN" Board %. lUr.-y-
tors at such times ~ he MAY a. I'd
N-ahlr. and he shall be- required .. Ia
such special meetings al tha r.u".-. ~.
"a member of the Board of Director. urec
days written motto" OF such Sp,,. al mrrt-
ing shall h" given TO the directors. unless
waiver Of such notice is signed ~ tbe
Directors. ANY vacancy occurring an the
Board of Directors either from death. re-
>lgEatiou or inability to serve, shall be- flied
10y the remaining directors at its next rogu-
lar meeting after such vacancy shall have
occurred. The first Board Of Directors OF
this corporation shan be required TO draft
Ia" corporation, which may be altered,
amended, changed or modified az the cN-
igcn,lrS of The case may require.
ARTICLE NII.-The stock of this cor
poration may b" transferred, provided,
such transfers shall be recorded on the
Books of the corporation before II shall
be required TO recognize the transfer, or
the new holder Of the stock.
ARTICLE NIII-The appearcrs hereby
declare that they have subscribed TO the
following number OF shares Of the capital
stock Of this corporation, tO-wif. Richard
\. Barnes No l5J ". St. Patrick ST,
Shares. Richard T. Mcbride, No. 4720
Damned st, New Orleans. La, One %
share, and Jones r. ProwrH, No. 1910
81. Andrew St New Orleans la One
ard \. E1rnrs which totals Jhe sum of
Forty Thousand $4,000 OO) Dollars, or
four hundred (iOol shares shall De- full
paid for and settled hy him by the trans
and good VIII now owned and belonging
to the Seven Eleven Auto Company, Inc,
Of which the said Richard \. Barnes 81
the sole owner, an accurate, detailed and
lt"mlz"d statement of description of said
property being hereto auU"Ncd to he read
in connection herewith, and the said prop
crty and goodwill was duly appraised
by the Board Of Directors of this cOrpor-
alton at the sum of Forty Thousand
tS41 oOOOnb Dollars. The remainder of
said subscriptions shall be paid for in
cash
In the event that any srockhuldrr de-
Sircs TO sell his stock or any part or pOr-
tion thereof he shall first offer same to
the remaining stockholders IN proportion
TO their respective holdings at its book
value. This offer is TO be made to gSp-
pear by letter addressed to each stock
holder at his last known address, giving
thirty days option. At the expiration
of which time, the stakeholder desiring
! to sell or dispose of his stock, shall be
AZ liberty to do so at whatever price and
to whom he may please
ARTICLE IX.-This charter may be
modified or altered, the capital stock
| thereof increased or decreased, or the cor
| poratiOn may be dissolved with the as
| sent of twO-thirds Of the capital stock
present or represented at any special meet
| ing of the stockholders called for that
purpose, after prior notice In writing TO
| each stockhOlder, mailed to him at his
/ last known pOst-Office address, all in ac-
/ cordance with the terms of Act 267 of 1914.
! ARTICLE N.-At the expiration of this
/ charter, or the earlier dissolution of this
! corporation for any cause its affairs
I shall be iquidated by one or more Nqui-
dators to be elected by the stockholders
all of whom shall hold stock in this cor
! pOratiOn, and said hquidatOrs are hereby
vested with full power and authority TO
| liquidate the affairs of said corporation,
with full power to act under the terms Of
| Section 30 of Act 267 OF 1914.
! Thus done and Passed, at my Office
, in the City of New Orleans, Louisiana, On
] the day, month and year herpinabOy
first written, in the presence of Nirma
! Keenan, and Edmee Fortier, competent
witnesses. who hereuntO sign their
names, together with the said appearers
and me, Notary, and the said appearers
have also set opposite their names the
number of shares subscribed by them,
all after due reading of the whole.
| (ORIGINAL SIGNED:
Richard A Barnes, 400 shares, Pichard
T. Mcbride, l share, Jones It. Prowell,
share, John II. Upton, Not. Pub.
Witnesses: Nirma Keenan,, Edmee For
tier.
A true copy.
JOHN r. UPTON.
/ Notary Public.
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 Incorpor-
alton, of the Seven Eleven Auto Company,
Inc, was this day duly recorded in my
office, in Book 1858, Folio 1887, New Or
(SIGNED) RoBT SCOTT.
Detailed Descriptive and Estimative List
Of Property belonging to Richard
A. Barnes, exchanged for
Stock in the
Seven Eleven Auto Company, Ina
Eleven Automobiles, vaiued at $28 900 90
as follows: Studebaker Seven Passenger
Touring Cars, Model 1920. Motor Nos. 10,
6O6. 1885. 1883, 22262 and 1905; / Cad
lilac Seven Passenger Touring Car, Type
%. Model 1918, Motor No. E 913; l Cad
lilac Seven Passenger Touring Car, Type
81, Model 1919, Motor No. Y 543; Cadillac
Seven Passenger Touring Car, Type b7
Motor No. w 3O1, Model 1919 Cadillac
Limousine, Type 50, Motor No. o 436. Mod
el 1917; l Cadillac Seven Passenger Tour
ing Car, Type 50, Motor No X sG2, Model
K 1920; Seven Passenger Cadillac Tour
ing Car, Type 90 Motor No 81 Model
S 1929; Cash in Bank. $611.5S; Accounts
payable. 100000; Tools, etc, $1,000 90
Furniture, $4,000: Lap Robes, $4,000
Seat Covers, $4,000; Total $32, ,7ll.5S;
| Good will and trademark Seven Eleven
Auto Company, Inc, registered in the u.
$. Patent Office under the No. 140,602
$7.2SS.42; Grand Total, $400O000.
We, the undersigned Board OF Directors
of the Seven Eleven Auto Company, Inc,
| appraise the above and foregoing prop
erty of Richard A. Barnes, doing business
under the name of Seven Eleven Auto
Company, Inc. at the sum Of Forty Thous-
and ($40, 900 OO) Dollars.
RICHARD =. BARNES
RICHARD T. MCBRIDE
J. II. PROWELL
May 26-June 80