The herald., 1922-11-02
CHARTER PAYNE BROS. 81 GR1n1or'
INC,

INC.
State of Louisiana, Parish of Orleans
CltE or New Orleans. Be il known Thai
on this sixteenth day of Octohar 10 ~
year one thousand nine hundred and
| twenty-five. before me, William Waller
1oung' a notary public, in and for the
5dIIsh OF orleans. State of Louisiana.
iuIN commissioned and qualified and in
the presence of the witnesses hareina IT,
named ana undersigned, personally came
ana appeared the persons whose names
9 9 hereuhto subscribed, all above the
luiI age or majority, who seyeralIy do
cldred that availing themselves Of the
laws or the State of Louisiana and es-
peclaIly the laws relative to the orrani-
zdtlon or corporations. they have Gov
enanted and agreed to bind form and
constitute themselves. as we'll as All sunb
other persons as may hereafter ioin or
become associated with them. into a
corporation and body polite in law for
me OBJECTS and purposes and under the
articles, agreements and stipulations
following, to-wit:
ARTICLE 1.-The name. stvle and
ute of this corporation shall be PAYNE,
BROS. * GRILLOT. INC, and under
that name it shall have and enjoy ali
the rights, advantages and priviIepaS
granted by law to corporations. and shall
exist Tor the full term and period of
hlhety-nlne years from this day. 1t
snail nave power to sue and be sued: TO
nLdke ana use corporate seal, and the
mold receive, lease, purchase, sell and
convey, as well as mortgage hypothe-
cate and pledge property, real. personal
anu mixed, corporal and incorporeaI: to
name and appoint such managers direc-
tors, Officers, agents and other em
pioyeeS as its interest may require and
10 make and establish as well as alter
ana amend. from time to time, such by-
laws, rules and regulations as NAV 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
OF New Orleans. State of Louisiana and
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
ganized, and the nature of the business
to be carried on by it 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.
trucks, tractors, marine engines and
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
shape in which acquired, or after having
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,
100000 dollars, to be divided into and
represented by six hundred 5000 shares,
in the sum of fifty (s50.00l dollars each.
Said stock shall be paid for in cash or
property. The capital stock of this cor
poration may be increased TO the sum
of one hundred thousand (sl0O, 900 .00)
dollars. This corporation shall COM
mence doing business and be a 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, majority of
whom shall constitute a quorum for the
transaction of business. The Board of
Directors shall elect annually from their
number President and may elect one
or more Vice-Presidents: they shall also
elect a Secretary and a Urea surer, which
two latter offices may be filled by one
person, and which person or persons
need not be a stakeholder or this cor
poration. The first Board of Directors
shall consist of five stockholders. and
shall be composed of Frank Tistale
Payne, Sidney Louis Grillot, Henry Up
shur Payne. Lester c. Gerard and A. II.
Payne. with Frank Tistale Payne as
President, Sidney Louis Grillot as Vice
President. and Henry Upshur Payne as
Secretary-Treasurer.
The postoffice addresses of said direc-
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, $50 Julia street. New Orleans,
La; Lester C. Gerard. Matthews, Lou
isiana: A. Fl. Payne. S22 Perdido street,
New Orleans, La.
These directors and officers shall
serve until the second Monday in No
vember. 1928, 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 postoffice ad-
dress and a 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. majority of the votes cast
shall elect.
ARTICLE Win the event of the
liquidation or dissolution of this cor
poratiOn, the stockholders shall elect