The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-01
CHARTER.

of One Hundred Dollars (SlO0.00) each
said stock shall only be issued for caSl
or in payment Of property actually re
ceived or purchased by said corporation
The capital stock of this corporation ma!
be increased to the sum OF Fifty Thou
sand Dollars tS5O,OUOOl.
ARTICLE V. All the corporate power
of this corporation shall be exercised b!
a Board Of Directors consisting OF fou
a. stockholders, majority OF whOr
shall constitute quorum for the trans
action of business. The directors maj
vote in person or by written proxy II
favor of another director. The BOarC
| OF Directors shall elect annually iron
among their number a President. Vice
President. Secretary. and n Treasurer
The first Board of Directors shall con
SiSt of four stockholders, and shall b'
composed of Frederick W. Scharfenstein
Leslie l.. ScharfenStein. Lewis Il. Scharf
| en- stein and Jacob ID. Scharfenstein, witt
| Frederick W. Scharfehstein as President
| Leslie l.. ScharfenStein as Nice-PreSident
Lewis Il. Scharfenstein as Secretary. and
| Jacob ID. ScharfenStein as Treasurer.
| The post office addresses of said direc-
tors are as follows: Frederick w Scndrf-
/ orleans. La; Leslie l.. Scharfenstein
| 1919 Fern street. New Orleans. La
| Lewis Il. Scharfenstein, SI22 y. Claiborne
| avenue. New Orleans, La; Jacob ID.
| Scharftnstein. 1870 Baudin street New
These directors shall serve until the
second Wednesday in May. 1925, or until
their successors have been duly elected
and qualified. The annual meeting Of
stockholders for the election of directors
shall be Z I'D on the second Wednes-
day in May of each year. unless said
day be a legal holiday. and then on the
next bank day thereafter. Any vacancy
occurring among the directors by death.
resignation or otherwise shall be filled
by election for the unexpired term by
the remaining directors. Each subscriber
h..ra fs,r "A. .nlsN ffga
address and a statement of the number
of shares of stock which he agrees to
take in the corporation. At all cleo
tiOnS 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 east in person or
by his written proxy. A majority of
the votes east shall elect.
ARTICLE VI. In the event OF the
liquidation or dissolution of this cor
poration. the stockholders shall elect
three liquidatOrs from among their
number at meeting convened for that
notice sent to each stakeholder by mail
TO his last known address; said liqui-
datOrs shall have the authority to wind
up the business and affairs of this cor
liquidator. the survivor shall appoint a
stakeholder as successor to him.
ARTICLE VII This charter may be
modified. changed or altered or said
corporation may be dissolved with the
assent OF stockholders owning twO-thirds
of the entire capital stock at a general
meeting of the stockholders convened for
that purpose. after fifteen G5) days
written notice shall have been given to
each stakeholder. mailed to him at his
last known address.
td AkTi IGa VII No S,s sn bs1 for
faults or debts Of said cor
pOratiOn in any further sum than the !
unpaid balance. II any, due the corpor
alton on the stock for which he has sub |
scribed; nor shall any stakeholder ever |
be held liable for such contracts. faults |
or debts in any further sum than the |
unpaid balance, II any. on the stock /
owned by him; nor shall any mere in
in organization have the effect |
of rendering this charter null, or render
ing any subscriber or stakeholder liable
beyond the unpaid amount, if any, re-
due on his stock.
No stakeholder in this corporation
can ever sell the stock owned by him
in this corporation, or any part thereof.
without first offering the same in writ
the Board of Directors. at its then book
'alue, who Will have the first option TO
purchase the same, and in the event Of
he death OF a stakeholder the right is
holders to purchase said stock at its
hen book value.
ARTICLE IX.-This corporation is or
,anized under the laws of the State Of
1OulSldn3, ana especially ACT No. Oh
9l4. and the subscribers hereto for
themselves and said corporation, and
or its officers. directors and stOckhold-
RS. hereby accept, as part Of this charter
III the rights, powers, privileges and
granted to corporations and
'ranted 10 and conferred upon officers,
directors and stockholders of corpora
ions by said laws and said act; such
cceptance being as full, complete and
inding as if said rights. powers, priv
eges and immunities We're set forth at ,
ength in this instrument.
Thus done and passed in my notarial
fhce. in the City Of New Orleans afOre- !
aid, in the presence of Andrew X. Mar !
nez and HOlger q. Kohnke, competent !
illnesses of lawful age and residing in ;
his city, who hereunto subscribe their !
ameS. together with said parties and
he, Notary, on the day and date set
'rth in the caption hereof.
mitted.) I
Witnesses:
ANDREW r. MARTINEZ, c
HOLGER G. KOHNKE.
W. w. YOUNG.
I, the undersigned Recorder Of Mort
ages in and for the Parish of Orleans
tate of Louisiana, do hereby certify
operation Of SCHARFENSTEIN MO-
ORS CO, INC, was this day duly
corded in my office in book 1868, folio
New Orleans, May s. 1922
ROBT. SCOTT, Deputy 0
hereby certify the above and fore n
Ding to be true and correct copy OF
le original act of incorporation of
MOTORS CO. INC,
gether with the certificate of the Re
rider Of Mortgages on file and Of record :
my office. q
In faith whereof I hereunto set my G.
ID o
w. w. YOUNG,
Notary Public. \,
CHARTER