The herald. [volume] (New Orleans, La.) 1905-1953, 1921-11-24
CHARTER.

under its said corporate name shall en-
JOY succession for the full term and
period of ninety mine (99) years from and
after the date hereof, and shall have
power and authority to contract, sue and
De sued to accept and receive mort
cages, pledges or other hypothecations;
TO make and use corporate seal and
the same to break and alter at pleasure;
to purchase, receive, lease, hold or other
wise acquire and convey. as well as
mortgage and hypOthecate under its
corporate name, property both real per.
sonal and mixed; to borrow money and
make and issue bonds and other evil
dences of debt, and to secure the same
by mortgage or otherwise; to name and
appoint such managers and directors,
officers and agents the interest and
convenience Of said corporation may re-
quire; and to make and establish. as we'll
as alter and amend at pleasure. such by
laws. rules and regulations for the man
agement and regulation of the affairs of
the corporation as may be necessary,
proper or convenient.
ARTICLE 2.-The domiciie OF this cor
poration shall be in the City of New
Orleans, Louisiana, and all citations or
other legal process shall be served upon
the President of the corporation, or in
his absence, upon the Secretary, or in his
absence. upon the Treasurer.
ARTICLE 3.-The objects and pur-
tablished and the nature of the business
to be carried on by IL are declared and
specified TO be to buy, sell, or otherwise
acquire, ALLEVIATE and handle; to deal in,
operate for hire, or contract for the Oper-
alton of. lease. store and repair machin-
cry of all kinds, automobiles and motors,
or self-propelled vehicles of all descrip-
tions, and their parts and accessories
and supplies therefor, and appurtenances
thereto, including trailers, tractors and
/ cir flnH mt
and as agent for others; to operate auto
| mobiles, carriages, and to manufacture
| and assemble machinery Of all kinds :;
| automobiles, together with parts thereof.
and supplies, accessories and appurten-
| ances therefor: to own. operate. repair.
lease, store and deal in auto trucks, farm
trucks and self-propeled farm implements
| of all character. including road building
machinery; to build. operate and contract
| for roads of all kinds; to do general
engineering and efficiency expert and
| and contracting and construction bust
| ness and to engage I'm all businesses in
| cidental TO the purposes stated.
! ARTICLE ". Section /. The capital
| stock of this corporation Is hereby fixed
| at One Hundred and Ten Thousand Dol
| lars (S110,0O0OO, divided into and repre-
| scented by one thousand u.0O0) shares
| of preferred stock of the par value of
One Hundred Dollars (s100O0) per share,
| and One Thousand (1,000) shares of COM
mon stock of the par value of ten dollars
| $1,000 per share. The common stock of
the corporation may be increased up to
the sum of Twenty Thousand Dollars
($2000O).
Section .. The capital stock. both pre-
| ferred and common, shall be represented
| by certificates. shall be full paid and non
assessable when ISSUED, shall be issued
only for labor done or for property ac-
| tually received. or for cash to be paid
at such times and in such amounts and
| after such notice as may be determined
| by the Board Of Directors, and shall be
personal property. No transfer of said
capital stock shall be binding upon this
| corporation unless made in accordance
with its charter and bylaws and re-
corded in the books thereof.
| Section 3. The holders OF the preferred
| stock shall be entitled to receive an an
nual dividend at the rate of, but never
| exceeding ten G0) per cent per annum
| cumulative from and. after November /
1921, payable out of the net profits OF
the company on the 31st day of August
of each year, before any dividend is paid
upon the common stock. Should the mel
profits for any year be insufficient &c
pay said preferred dividend therefor, OF
any part thereof, any unpaid portion
thereof shall become charge against
the net profits of the company and shall
be paid out of said profits In full before
any dividend is paid upon the common
participate in the profits of the company
beyond its fixed preferential cumulative
annual dividend Of ten (1O) per cent, bu
shall be paid in full up to hts capital OF
par value plus accrued and unpaid divi
dends, IL any, at the rate OF ten (lO) pc
cent per annum before any amount shall
be distributed among the owners of tn,
common stock, in the event of any II
quotation, or. dissolution or distribution
of the assets of the company and shall
No ata fnr ~ nr m 10 or
ton of the assets of the company.
Section 4. The corporation shall hav
the right to call for and redeem the out
standing preferred stock, In whole or II
part. on any dividend date, at one hun
dred and ten (110) per cent of par, plu
all accrued and unpaid dividends. No
tice of redemption shall be given b.
mailing same to all preferred stOckhold
ers of record at their last known pos
office address. or IL none be known. the
to the General Delivery, at New Orleans
Louisiana, at least sixty (60) days prio
to such redemption date. and by publish
ing such notice of redemption, at leas
once week for period of sixty eco
days in a daily newspaper of genera
circulation, published in the English Ian
guage in the City of New Orleans. Lou
isiana. Such call having been made, an
I the money required for such redemption
having been deposited for that purpos
J with the Marine Bank & Trust Compan
Oh new l<Ouisldud, LOT III Una
bank shall not be in existence. with sue
other bank In the City Of New Orleans
, as the directors shall select) all right
Of the stock called for redemption {
! dividends shall cease after said redemr
ton date, and the holders thereof sha
: thereafter have recourse to said deposi
: alone. and in no event to the compan
for the payment Of said redeemed stoc
and the dividends thereon. The share
so called and redeemed shall be cancelle
, and not again be issued.
Section 8. II less than all of the pre-
ferred stock then outstanding Is to b
redeemed, the Board of Directors sha
determine by lot I'm the following mar
ner the shares to be redeemed. A Ii;
: shall be prepared of the holders Of pre-
: ferred stock and consecutive number
shall be noted opposite each name o
: such list, according to the number {
I shares owned by each stakeholder, eac
| stakeholder receiving one number fC
| each share standing in his name, so> ths
! the aggregate number of such consecJ
tive numbers will equal the number
shares Of such preferred stock then ou
| standing. From such consecutive nun
| bers there shall be drawn by lot as man
| numbers as will equal the number {
shares to be redeemed; and the share
shall be drawn for redemption from I'll
! stockholders to whom the numbers draw
| by lot were assigned on said list.
Section 9. Within sixty days after II
end of each fiscal year, until all OF Il
preferred stock shall have been retire
4 the Board of Directors shall set aside
i sinkfnp or redemntion fund Said finn