The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-27
CHARTER.

ARTICLE 1.-THE objects and purposes
for which this corporation is organized
and the nature of the business TO be car
ried on by il are declared to be to own
and operate the business of wholesale and
retail distribution of petroleum ana IT'S
products. such as gasoline, kerosene
EreaScs and oils of every description 10
enter into and execute contracts OF every
Kind pertaining to said business; to buy
sell. lease, mortgage, pledge, hypothccae
or assign. or improve real. personal or
mixed property corporal or lncOrp0real
in connection with said business and gen
orally to do all things that may De hec'S-
Sary or incidental TO the objects and pur-
poses above expressed.
ARTICLE III-The capital stock Of this
corporation shall be Ten Thousand Dol
lars tSlOOO0OOI divided into and repre-
scented 10y Two Hundred t2OO) shares Of
the par value Of Fifty Dollars $4,000
each, payable in cash, property or good
will.
The corporation shall commence doing
business as soon as Five Thousand Dol
lars tSjOUUoul capital stock shall have
been subscribed and fifty per centum OF
said amount shall have been actually PAID
for as aforesaid.
Any stakeholder may sell assign or
transfer his stock in this corporation,
provided thirty DAYS notice Of such in
tention to sell, assign or transfer the
same be given the corporation. and the
other stockholders shall have the first
privilege Of purchasing same az par value,
after which thirty days notice the said
stock may be- sold in open market.
ARTICLE IN-The domicilr Of said cor
poration shall be il the city of New Or
leans, State of Louisiana.
The president or in his absence the
vice president shall be- the proper person
upon whom citation or other legal process
shall be served.
This corporation unless sooner dis
solved shall exist and continue for the
period of ninety nine years from and
after the date hereof.
ARTICLE V-All corporate powers shall
be vested in a Board OF Directors com,
posed of three stockholders. The Board
/ OF Directors may fill vacancies in their
number, however caused, by electing from
among the stockholders.
The first Board of Directors shall CON
! sist of Charles A Emling. L. j. Wagner
aud George /. LanghOff, whose post office
| addresses are 9l2 TchOupitoulas St, New
Orleans, La.
! said board shall continue in office until
the first day of July 1923, on which date,
and thereafter, annually, a Board OF Dl-
rectOrs shall be elected on the first
! Thursday of July of each year, unless the
same shall be legal holiday when the
election shall be held on the next legal
day thereafter.
The said board IS further authorized
to frame and adopt such bylaws, rules
and regulations as the affairs of the cor
poration may require, md as II may
deem necessary LOT tneN conducting anu
management thereof
| ARTICLE VI-This charter may be
amended and the capital stock Of this
corporation may be increased or de-
creased, or the corporation may be dis
solved in the manner and method pro-
yided by law.
ARTICLE Vino stakeholder shall
ever be held liable or responsible for the
contracts or faults of this corporation in
iany further sum than the unpaid balance
on the stock for which he has subscribed
nor shall any mere infOrmality in organ
ization have the effect of rendering this
charter null or exposing stakeholder TO
any liability than above provided.
| ARTICLE NIII-Whenever this corpor-
, alton shall be dissolved, whether by liml-
tation or from any other cause, the af-
, fairs thereof shall be iquidated by three
90 stockholders to be elected and quail
led in the manner provided by law. And
/, they shall continue in office until the ar
! fairs of this corporation shall have been
fully liquidated. In case OF the death oil
one of the liquidatOrs, or his refusal OF
inability to serve, the remaining Hquida-
: tors may themselves proceed with all the
power and authority vested in the full
membership.
The present incorporation in subscrib
!, ing for the respective number of shares
! of the capital stock of this corporation
u as set forth after their names have made
full and complete payment for same IL
: cash. except as follows: Payment To-
S3.O0O00 of the amount subscribed ba
}, been made, and accepted by the presen
. Board of Directors at a full valuation
: made by them, in the property and goo'
j. will an itemiZed statement of it's yalu
!, hereby placed by said directors. as fol
n lows:
n Item l. Fifty-five delivery cans
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