The herald., 1921-01-06
CHARTER OF MODEL MACHINE
WORKS, INC.

;siana Parish of Orleans, City of New Or
leans. Be it known that on this loth gay
of the month of November. in the year OF
our Lord one thousand nine hundred anu
twenty, and of the Independence OF the
United States Of America the one hundred
and forty fifth, before me. Gabriel FER
nandez, Jr., a notary public, duly COM
missioned and qualified, in and for this
city, parish and State. therein residing,
and In the presence of the witnesses mere
matter named and undersigned, personally
came and appeared the following named
persons whose names are hereunto SUB
scribed together with the amounts OF their
respective subscriptions to the capital
stock of the corporation to be formed, VINO
severally declare, that, awaiting themselves
of the provisions of the general laws OF the
State of Louisiana relative to the organiza-
ton of corporations, they have covenanted
and agreed, and by these presents cove
nant and agree and bind and oongate
themselves, as well as such other persons
as may hereafter become associated with
them or their successors, to form and con.
stitute themselves into "a corporation and
body polite in law, and for the objects
and purposes, and under the agreements
and stipulations following, to-wit:
ARTICLE 1.-The name and title of this
CORPORATION shall be Model Machine Works,
Incorporated, and by that name this cor
poration shall have power and authority
ninety-nin years from the date hereof;
to contract, sue and be sued; to borrow
money, to make and issue its negotiable
debts, to make and use a corporate seal,
to purchase and receive, lease, hold, sell
and convey, as well as mortgage and
hypothecate, property, real. personal and
mixed; to build on and improve any prop
erty or real estate; to name and appoint
such officers and agents as the interests of
said corporation may require; to make and
establish such bylaws and regulations for
the proper management and regulation OF
its affairs as may be deemed necessary,
and the same to alter, change and amend
at pleasure.
ARTICLE 1.-THE donicile of this cor
poration shall be the City or New Or
leans, State of Louisiana, and all citation
and other legal process shall be served up
on the President of this corporation, or,
in his absence, upon the Vice President,
or, in the case Of the absence of both of
these officers, upon the Secretary Treas
urer 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 1t. are hereby declared to
be to do a general machine repair shop
business, to manufacture machines or ma
chinery, whether working on contract or
on toll to purchase second hand machines,
tools and equipment, repair and dispose
of same; to contract for the general repair
of machinery, or for the furnishing of ma
chinery or machine shop equipment; to
furnish labor for the repair of machines,
and generally to do each and every act
and thing done in connection with the OPP
Grafton of general machine shop bust
ness, whether done on the premises Of the
company or elsewhere under contract.
ARTICLE Iv.-The capital stock Of this
corporation shall be five thousand dollars
(S5,000), divided into fifty 500 shares of
the par value Of one hundred dollars
sum Of fifty thousand dollars (s5O.OOO). di-
vided into five hundred shares of one hun
dred ($1OO) dollars each. and this corpor-
alton is to be a going concern when one
half Of the capital stock has been sub
scribed for and one-half thereof paid for.
Each share Of the stock shall be entitled
to one vote, either in person or by proxy.
at all general elections or meetings of
stockholders. Should the capital stock of
the sum of five thousand ($5,000) 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 In the
proportion in which the stockholders shall
at the time of issuance hold stock in this
corporation, and should any stakeholder
not purchase his proportionate share, then
holders in proportion to the number of
shares held by them at the time of the is
suance of the new stock. Part Of the stock
has been paid for in property, as per an
nexed inventory.
ARTICLE v.-The capital stock Of this
corporation may be paid for either In
money, property or labor done, and in con-
sideration Of the transfer by Seabron o.
Brock, Of the property described in the in
ventory attached hereto, the corporation
has given and transferred to the said Sea-
bron o. Brock forty-four shares of the
capital stock Of this corporation in pay
ment Of the property described in said in
yentory and has granted full discharge
and acquittance to him for forty-four
shares Of the capital stock of this corpora
ton.
ARTICLE VINO stakeholder shall ever
be held liable or responsible for the in
debtedness, faults or defaults Of this cor
poration, nor shall any mere informality
in the organization of the corporation have
the effect Of rendering the charter null,
or of exposing the stockholders to any
liability beyond the unpaid balance, IL
any, on his stock subscription. Should
any stakeholder desire to sell his stock,
he shall first offer the same to this cor
poration itself, through its Secretary
Treasurer, which shall have first prefer
ence thereon, and then to the stockholders
Of the company. at its book value, and the
stockholders who desire to purchase shall
have the right to purchase the same in
| the proportion to their respective holdings
Of stock in the company. Should any
stakeholder not wish to purchase his pro-
offered to the other stockholders proper
tionate to the number of shares owned by
them. Should this corporation. or said
stockholders, in fifteen days after notice
having been given in writing fail or re-
| fuse to purchase the stock offered for sale,
| such stock may be sold to anyone. No
l transfer of stock shall he made or hold