The herald., 1922-06-15
CHARTER.

of One Hundred Dollars tSlOO.OO) each ;
said stock shall only be issued for cash
or in payment of property actually re
ceivcd or purchased by said corporation
The capital stock of this corporation may
be increased to the sum OF Fifty IhOu-
sand Dollars tSJO,OOOOO).
ARTICLE V All the corporate powers
of this corporation shall be exercised by
"A Board of Directors consisting OF -FOUR
"a stockholders, majority Of whom
shall constitute quorum Tor the trans
action of business. The directors may
vote in person or by written proxy IN
favor of another director. The Board
Of Directors shall elect annually from
among their number President. a Vice
President, a Secretary, and Il treasurer
The first Board of Directors shall con
SSt of four stockholders, and shall be
composed of Frederick W. SchartenSteln,
Leslie l.. Scharfcn>tein. Lewis Il. Scharl
eustrin and Jacob -. Srharfrn>tcln, Win
Frederick w ScharfcnStcin as President,
Leslie l.. ScharfcnStein as Nice-Presid"nt,
Lewis l.. Scharf,nStcin as Secretary, and
Jacob D. ScharfcnStein aS Treasurer.
The post office addresses Of said dlrec-
tors are as follows: Frederick W. Scndri +
enstriu. spa ). Claiborne avenue. New
Orleans. La: Leslie l.. Scharfenstein,
1919 Fern street. New Orleans. La. :
Lewis l.. ScharfenStcin. Si22 :. Claiborne
avenue. New Orleans, La; Jacob ID.
Schartt nstcin, 1870 Baudin street, New
Orleans, La.
These directors shall serve until the
second Wednesday in May, 1928. or until
their SUCCESSORS have been duly elected
and qualified The annual meeting OF
stockholders for the election of directors
shall be- = Id on the second WedncS-
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 nlled
by election for the uneNpircd term by
the remaining directors. Each subscriber
bsr Sgts qff
address and Il statement of the number
Of shares Of stock which he agrees TO
take in the corporation. At all cleo
lions every stakeholder shall be entitled
standing i'm 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 VI In the event Of tho
liquidation or dissolution of this cor
POratiOn. the stockholders shall elect
three lquidatOrS from among their
number nj meeting convened for that
notice sent 10 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
stakeholder IS successor to him.
ARTICLE VII This charter may be
modified. changed or altered. or said
assent of stockholders owning twO-thirdS
of the entire capital stock at a general
meeting Of the stockholders convened for
that purpose. after fifteen 90 days
each stakeholder. mailed to him at his
last known address.
ARTICLE VIII. No subscriber for
stock shall ever be held liable for the
pOratiOn in any further sum than the
unpaid balance, If any, due the corpOr-
alton on the stock for which he has sub
Scribed; nor shall any stakeholder ever
he held liable for such contracts faults
or debts in any further sum than the
unpaid balance, if any. on the stock
owned by him; nor shall any mere in
fOrmality 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
ing To the other stockholders. through
the Board Of Directors, at its then book
value, who will have the first option 10
purchase the same. and in the event Of
the death of a stakeholder the right is
hereby reserved to the remaining stock
holders to purchase said stock at its
ARTICLE IX.-ThiS corporation is or
gained under the laws of the State of
Louisiana, and especially Act No. 267 of
1914 and the subscribers hereto for
themselves and said corporation, and
for its officers, directors and stOckhold- |
FRS, hereby accept, as part of this charter
and as conditions of this corporation, |
all the rights, powers, privileges and |
mmunitieS granted TO corporations and !
granted to and conferred upon officers. |
directors and stockholders of corpora |
tons by said laws and said act; such |
acceptance being full, complete and !
legeS and immunitieS were set forth at |
length in this instrument
Thus done and passed in my nOtarial |
office. in the City Of New Orleans afOre- |
said, in the presence of Andrew r. Mar. |
inez and Holgcr q. KOhnke, competent |
witnesses of lawful age and residing in |
his city, who hereuntO subscribe their |
names. together with said parties and |
'Orth in the caption hereof
original signed: Names of subscribers |
Witnesses.
ANDREW r. MARTINEZ.
W. w. YOUNG.
Notary Public.
/, the undersigned Recorder of Mort |
cages in and for the Parish Of Orleans, |
state of Louisiana, do hereby certify |
hat the above and foregoing act of in |
corporation of SCHARFENSTEIN MO |
TORS CO, INC. was this day duly |
300.
New Orleans. May 5. 1922
ROBT. SCOTT, Deputy.
l hereby certify the above and fore |
going to be true and correct copy OF |
he original act of incorporation of |
MOTORS CO. INC. |
ogether with the certificate of the Re
order of Mortgages on file and of record |
n my office.
In faith whereof I hereunto set nv
land and seal this 9th day of May, A. ID |
922
W. W. YOUNG,
Notary Public.
CHARTER OF