The herald., 1921-12-22
CHARTER.

and exercised by a Board of Directors
composed Of three (3) stockholders, each
Of whom shall own in his own right, our
ing his term of office. at least one %
full paid share Of stock, all of whom
shall constitute quorum for the uahs-
action Of business.
The officers of this corporation shall
consist of a President, Vice-President and
Secretary and Treasurer all OF whom
shall be members of the Board of plrec-
tors. The Offices Of Secretary and Treas
urer may be combined in one and the
same person.
The following named persons shall con-
stitute the first Board Of Directors, to-
wit:
william J. Michon, 30 N Pierce St.
| New Orleans, La.
! Theodore Paul Fossier, 1891 Nelson St,
| New Orleans, La.
Charles \. Laterrere. 900 Camp St,
New Orleans, La.
an residents of the City Of New Orleans
at the addresses above stated, with VIII
| liam J. MichOn as President and General
| Manager; Theodore Paul FOSSier, Vice.
President and Charles A. Laterriere, as
Secretary Treasurer, and these officers
and directors shall hold office until the
first Monday of January, 1872 or until
their successors are duly elected and
qualified.
Thereafter the directors shall be elected
| annually on the first Monday of January
of each year and they shall elect their
own officers; all elections OF directors
shall he by ballot and each stakeholder
shall be entitled TO one vote for each
share of stock standing in his name on
the books of this corporation this vote
to he cast in person or by written proxy,
and it shall require majority OF the
stock present or represented to elect.
: The directors shall have the right to in
crease their number to five (5).
Failure to hold an election for direc-
) tors on the first Monday Of January,
1917 or annually thereafter. shall not
r work n forfeiture Of this charter. but
the old Board of Directors shall remain
in office until their successors are duly
, elected and qualified.
; ARTICLE 6.-The Board Of Directors
shall hold regular meetings at such
: times as shall be fixed in the bylaws
! of this corporation, but the President
may call special meetings of the Board
; of Directors at such times as he may
deem advisable, and he shall he required
to call such special meetings at the re-
e quest of member of the Board of Di-
rectOrs.
Three days written notice Of such
; special meeting shall be given to the
directors, unless waiver of such notice
is signed by the Directors. Any vacancy
occurring in the Board of Directors,
either from death. resignation, or inabl-
n ity to serve, shall be filled by the re-
q naming directors at its next meeting
I The first Board OF Directors Of this cor
o pOratiCn shall be required to draft suit
= able bylaws for the government Of this
4 corporation, which may be altered, amen
ded or changed as the eNigencies OF the
case may require.
ARTICLE VlI.-The stock of this cor
y poration may be transferred, provided
such trainers shall be recorded In the
books OF this corporation before IL shall
be required to recognize the transfer, or
hn nRNU hnl nf ST.
ARTICLE V1II.-The appearers hereby
u declare that they have subscribed to the
! following number of shares Of the capital
=, stock Of this corporation, tO-wit:
William j. MichOn, No. 30 N. Pierce
St, New Orleans, La, Forty nine (4o)
shares.
Theodore Paul Fossier, No 1891 Nelson
ST.. New Orleans, La, One O) share.
Charles A. Laterriere, No. 1920 Camp
ST., New Orleans, La, Fifty 500 shares.
And the said subscriptions OF William
J. Michon and Charles A. Laterriere
which together total the sum Of Nine
Thousand Nine Hundred Dollars ($9,9O0)
or ninety-nine 900 shares, or Five Thou
~ sand Dollars ($5,OOOOO), or Fifty (50)
Nc shares to Charles A. Laterriere, and For
NJ ty-nine Hundred Dollars (S4.9OO.O0l, OF
d forty-nine li9) shares TO William J. MI
~ chon, which shall be fully paid for anS
On settled by them by the transfer Of all tn,
,r' property and effects, including the goo'
a. will, row owned and belonging to tn
nd commercial partnership known a
nv "MiChOn a. Laterriere," composed Of VIII
iiy liam j. Michon and Charles A. Laterriers
~ an accurate detailed and itemized state
"a ment and description of said propert
no. being hereto annexed TO be read in con
IS nection herewith, and the said propert
"s was duly appraised by the Board Of Dire,
w., | tors of this corporation at the sum o
ma Nine Thousand, Nine Hundred Dollar
@ ($9,9OOOO). The remainder of said sui
no scriptions shall be paid for In cash.
n.
for sires to sell his stock or any part or POI
he ton thereof, he shall first offer same
IL the remaining stockholders, in proper
of tion to their respective holdings at II
err book value. This offer is to be made
all appear by letter addressed to each stock
zee holder at his last known address, giyin
ON thirty days option. At the expiration {
ID which time the stakeholder desiring
M dispose OF his stock, shall be at libert
Ise to sell at whatever price and to whoI
nd he may please.
ELL, ARTICLE IX-This charter may b
lge modified or altered, the capital stoc
rs thereof increased or decreased, or IN
ry- corporation may be dissolved with IN
sue assent of twO-thirds OF the capital stoc
TT present or represented at any specii
ler meeting OF the stockholders held for this
ne, purpose, after prior notice In writing
rs, each stakeholder, mailed to him at nj
rly last known pOst0fice address, all In N
Ike cordance with the terms Of Act 267 {
as 1914.
for ARTICLE X.-At the expiration OF tn
af- charter or the earlier dissolution OF tn
her corporation for any cause, its affairs sha
sir be liquidated by one tD OF more LOU
ar datOrs to be elected by the stockholder
the all Of whom shall hold stock In this CO
poration. and said liquidators are hereh
his vested with full power and authority
lew liquidate the affairs OF said corporatio
on. with full power to act under the tern
gal OF Section 80 OF Act 267 Of 1914.
EST Thus done and passed at my office
.es- the City Of New Orleans, Louisiana,
the the day, month and year hereinabo
first written, in the presence OF Richai
- It. Mcbride and Edmee Fortier, comp
n tent witnesses, who hereunto sign the
vi, names. together with the said appeare
a. and me, notary, and the said appeare
u, have also set opposite their names q
WV number Of shares subscribed by the
no all after due reading OF the whole.
IT,, ORIGINALLY SIGNED:
.n, william J. Michon, 40 shares; The
III dore Paul FOssier, share; Chas. A. i
"a terriere, 80 shares.
witnesses: (Signed) Richard IT. N
-, Bride and Edmee FOrtier.
TRUE COPY
mo MICHON & LATERRIERE.
~ Assets and Liabilities.
81 New cars on hand (Schedule AZ. 4145
90 Used cars on hand tSchedule Al. 1000
' Notes receivable (mortgage):
Cant. VI. Il. Kotch. ............... 1926