The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-14
CHARTER.

ARTICLE III.-The objects and pur-
poses for which this corporation is es-
tablished and the nature of the business
to be carried on by il are declared to
be to engage In the buying and selling of
automobiles, tractors, automobile and trac-
tor parts and accessories and To repre-
sent as agent the manufacturers OF auto
mobiles, tractors, automobile and tractor
parts and accessories, and generally to
do each and every thing in connection with
the business of buying and selling auto
mobiles, tractors. automobile and tractor
parts and accessories.
ARTICLE IV.-The capital stock of this
corporation shall be Ten Thousand ($lO,
0OOO0) dollars, divided into one hundred
l00) shares of the par value of One Hun
drcd (S1OO.O0) dollars each, and may be
increased to the sum of Fifty Thousand
(Sj00O0.OO) dollars. divided into five hun
dred 5000 shares of the par value of one
Hundred (SlOOOO) dollars each, and this
: corporation is to be going concern when
One-haf of the capital stock has been
subscribed and onc-half of which sub
scriptiOn has been paid for.
Each share of said stock shall he en-
| titled to one a vote, either in person or
by proxy, at all general elections or meet
| ings of the stockholders.
| ARTICLE V.-No stakeholder shall ever
| be held liable or responsible for the in
| debtednesS faults or defaults of this cor
| pOratiOn, nor shall any mere intormalliN
|
| have the effect of rendering the charter
null. or of exposing the stockholders u
| any liability beyond the unpaid balance
| if any, on their subscriptions.
ARTICLE VI.-This corporation shal
have all the powers granted to Such cor
pOrations 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 O
mortgage any and all of its effects, o.
| to hypOthccate, its property and TO az
any and all acts and things of any othe
kind. nature or description as may b
necessary to carry out the objects an'
purposes of said business. as its interests
and conveniences may require.
ARTICLE VII.-Th, business of thi
corporation shall be directed by and vest
ed in a board of directors of four a
members. three of whom sail constitute
a quorum for the transaction of business
and the said board of directors as frs
constituted shall be composed of q.
Russ, II. T.. Nathan, G. Owen Vincent an'
Arthur A. Moreno. and they shall hol
office until the first Wednesday in Jun
1928 and on that day and on the SAM
day thereafter each year, elections shal
be held for directors at the principal OF
flee of the corporation and she election
shall be held at the hour of twelve noon
Il G. L. Russ shall be first president
II. r. Nathan shall be first secretary an'
G. Owen Vincent shall be first treasurer
ana they snail nOlu OI1lCe Until lut III D
Wednesday in June, 1923.
Failure to hold an election on the da!
specified shall not dissolve the corpor
alton but the directors shall hold thei
respective offices until an election shal
be held after thirty days notice or tn
time and place thereof given to each stock
holder.
Directors may act either in person o
by proxy.
Il ARTICLE VIII-Whenever this cOrpor
alton is dissolved, either by limitation, o
for any other cause, its affairs shall b
liquidated by the board of directors, VIII
are hereby vested with full power to sci
any or all assets of the corporation, eithe
separately or in mass, and to conve.
full and complete title thereto, and shall
have full power to do and perform a
acts necessary and proper to fully an
, completely liquidate the affairs and dis
tribute the proceeds, if any, among tn
stockholders of this corporation to tn
! amount of stock held by each
Thus done and passed. in my notaria
office. in the City of New Orleans. o
the day, month and year first above writ
o and Gladys f. Rider, competent witnesse
who hereuntO sign their names, togetht
with the parties thereto and me, Notar.
: after a reading Of the whole.
e G. Owen Vincent, 735 Union Street, Ne
t Orleans, La, Twenty shares; Harold
!, Nathan, 1856 Union Street. New Orlean
f La, Twelve shares; Ruth NJ. Seller, Ne
r Orleans, La. Thirteen shares; q. u. Rus
Woodville Miss, Thirty share3
r c. Stechmann, Gladys Il. Rider.
e Recorded in Orleans Parish In M.
= A. A. MORENO,
q Notary Publ
+ A true and correct copy Of the origin
!, now on file and of record in my offic
re- orded liza VI. o. II.
lime 16-July