The herald., 1922-08-03
CHARTER.

ARTICLE 1.-THE objects and purposes
for which this corporation is organized
and the nature OF the business to be car
red on by il are declared to be to own
and operate the business of wholesale and
retail distribution of petroleum and its
products, such as gasoline, Kerosene,
greases and oils of every description; to
enter into and execute contracts of every
kind pertaining to said business; to buy,
sell, lease, mortgage, pledge, hypOthecate
or assign, or improve real, personal or
mixed property corporal or incorporeal
in connection with said business and gen
orally to do all things that may be neces-
sary or incidental TO the objects and pur-
poses above expressed.
ARTICLE IlI-The capital stock Of this
corporation shall be Ten Thousand Dol
lars tSlO.OuOOOl, divided into and repre-
scented 10y Two Hundred t2OOJ 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 (S5.OOOOOJ 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
Il
after which thirty days notice the said
/ stock may be sold in open market.
| ARTICLE IV-The dOmicile of said cor
poratiOn shall be in 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.
be vested in Board of Directors com
posed of. three stockholders. The Board
of pirec prs may fill vacancies in their
among tie stockholders.
The first Board of Directors shall con
siSt of Charles A. Emling, l.. J. Wagner
and George l. 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 Di-
rectOrs shall be elected on the first
Thursday Of July of each year, unless the
same shall be a 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 by laws, rules
and regulations as the affairs of the cor
|
deem necessary for the conducting and
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-
vided by law.
| ARTICLE Vino stakeholder shall
ever be held liable or responsible for the
contracts or faults Of this corporation IN
any 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 vIII-whenever this corpor-
alton shall be dissolved, whether by limi-
tation or from any other cause, the af-
fairs thereof shall be liquidated by three
(3) stockholders to be elected and quail
led in the manner provided by law. And
they shall continue in office until the af-
fairs of this corporation shall have been
fully liquidated. In case Of the death of
one of the liquidators. or his refusal or
inability to serve, the remaining liGuida-
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
as set forth after their names have made
full and complete payment for same in
cash, except as follows: Payment for
S3,00000 of the amount subscribed has
been made, and accepted by the present
Board of Directors at a full valuation
made by them, in the property and good
will an itemized statement of its value
hereby placed by said directors. as fol
lows:
Item 1. Fifty-five delivery cans.