The herald., 1922-11-16

certify the the above and foreeoiny
ACT or Incorporation of The 7 Tire
TO- Inc. was this day duly recorded
new orleans, Aug. 2sth. 1922
ROBT. SCOTT,
oor,,,,o, by. Rec.
.,o NAT. w. BOND.
ooli'-hoNES Notary Public.
CHARTER PAYNE BROS. q aRuLor.
INC.
state of Louisiana. Parish of Orleans.
City or New Orleans. Be IL known That
on this sixteenth day of October. in the
year one thousand nine hundred and
SVwenty-two. before me. William Waller
1oung' notary public. in and for the
PARISH OF Orleans, State of Louisiana
uuIy commissioned and qualified. and in
tne presence of the witnesses hereinafter
named and undersigned personally came
anu appeared the persons whose names
are hereunto subscribed, all above the
1uil age or majority. who seyerally de-
cared that, availing themselves of the
laws OF the State of Louisiana, and es-
peeiaIy the laws relative to the organi-
eaton or corporations, they have COW
enanted and agreed to bind. form and
constitute themselves as well as all such
otner persons as may hereafter Join or
become associated with them, into a
corporation and body polite in law for
the objects and purposes and under The
srucies, agreements and stipulations
following, to-wit:
ARTICLE 1.-The name, STYLE and
ute of this corporation shall be PAYNE,
EROS: q GRILLOT, INC. and under
that name 1t shall have and eniov Ali
the rights, advantages and privileges
granted by law to corporations. and shall
exist for the full term and period of
nlnety-nine years from this day. 1t
snail nave power to sue and be sued; to
a 70
same to alter or break at pleasure. TO
nold, receive. lease, purchase. sell and
convey, as well as mortgage, hypothe-
cate ana pledge property, real. personal
name and appoint such managers. direc-
tors. officers agents and other en-
ployees as its interest may require and
70 make and establish as we'll as alter
I anu a%eha, from time to time. such by
avs. rules and regulations as may be
necessary and expedient for the proper
management and government of the
affairs of said corporation.
ARTICLE 1.-THE domicile of this
corporation is hereby fixed in the City
all citation or other legal process shall
be served upon the President or Vice
President Of said corporation, or in their
absence. upon the Secretary-Treasurer.
ARTICLE III.-The objects and pur-
poses for which this corporation is or
to be carried on by 1t are hereby declared
to be: To engage in the manufacture,
repair, purchase and sale Of machinery
Of all kinds; to buy and sell goods on
consignment or commission; to act as
manufacturers agents, to sell at whole
sale or retail, or both; to manufacture,
repair. buy and sell tools, parts, access
series and appliances for automobiles.
other equipment: to acquire. by pur-
chase or otherwise, machinery or parts
of machinery Of every kind and nature.
the same to sell. either In the form and
been altered or added to; and generally
to do and transact all business properly
connected with, incidental or convenient
to any of, the said objects and purposes.
ARTICLE Iv.-The capital stock of
this corporation is hereby fixed at the
sum of thirty thousand dollars $780,
Q00.00) dollars, to be divided into and
represented by six hundred (600) shares,
in the sum of fifty ($50.00) dollars each.
Said stock shall be paid for in cash or
poration may be increased to the sum
Of one hundred thousand ($100. 000.00)
dollars. This corporation shall COM
mence doing business and be going
concern at once.
ARTICLE v.-All the corporate pow
ers of this corporation shall be exer-
cised by a Board of Directors. consist
ing of not less than three and not more
than seven stockholders, a majority of
whom shall constitute quorum for the
Directors shall elect annually from their
number a President, and may elect one
or more Vice-Presidents; they shall also
elect a Secretary and a Treasurer. which
person. and which person or persons
need not be a stakeholder OF this cor
poration. The first Board of Directors
shall consist of five stockholders: and
shall be composed OF Frank Tisfale
shur Payne. Lester c. Gerard and A. HI.
Payne, with Frank Tistale Payne as
President, Sidney Louis Grillot as Vice
President, and Henry Upshur Payne as
Secretary
tors are as follows: Frank Tistale
Payne. $50 Julia street. New Orleans,
La; Sidney Louis Grillot. G. st. Johns
Court New Orleans, La: Henry Upshur
Payne, sss Julia street; New Orleans cans.
isiana: A. Fl. Payne. $40 Perdido street,
New Orleans. La.
These directors and officers shall
serve until the second Monday In No
vember, 1923. or until their successors
have been duly elected and qualified.
The annual meeting of stockholders
for the election of directors shall be
held on the second Monday in Novem-
Der of each year. unless said day be
legal holiday. and then on the next bank
day thereafter. Each subscriber hereto
sets after his name his postofftce ad-
dress and statement of the number OF
shares of stock which he agrees to take
n the corporation At all elections every
stakeholder shall be entitled to one vote
for each share Of stock standing In his
name on the books OF the corporation.
to be cast in person or by his written
proxy. A majority of the votes cast
shall elect.
ARTICLE Win the event Of the
liquidation or dissolution OF this cor
poration. the stockholders shall elect
two liquidators from among their
number at a meeting convened for
that purpose after ten days, writ
ten notice sent to each stakeholder
by mail to his last known address; said
liquidation shall have the authority to
wind up the business and affairs OF this
corporation. In case Of death OF either
of said liQuidators. the survivor snail
appoint q stakeholder as successor to
him.
ARTICLE Vino stakeholder in this
corporation can ever sell stock owned