The herald., 1922-03-23
CHARTER.
CHARTER OF BIRD REBUILDING
COMPANY

! United States of America. State of Louis
+ lana, Parish Of Orleans, City of New Or
| leans, Be il known, that on this the 10Th
day Of February, in the year of our Lord
one thousand. nine hundred and twenty
/ two. and of the Independence OF the
United States of America the one hundred
and forty six, Before me, Warren V. Mil
| Ter. notary public. in and for the Parish
| of Orleans, State of Louisiana. duly CON-
mssioned and qualified and in the pres
ence of the witnesses hereinafter named
and undersigned. personally came and APP
peared the several persons whose names
are hereunto subscribed. all above the full
age of majority, and citizens OF the Inted
States of America, who severally declared
that, ayailing themselves of the Dement'S
and provisions of the Constitution of the
State of Louisiana. and of the laws of said
State relative to the organization OF cor
poration, particularly Act 26I of 1914 OF
the General Assembly, of the State OF
Louisiana and all amendments thereunto,
they have covenanted and agreed, and do
by these presents, covenant and agree
and bind themselves as well as such per
sons as may hereafter join or become as
sociated with them and their successors,
to form themselves into and Ordain and
establish n corporation and body polite
in law for the objects and purposes and
under the stipulatiOns following, to-wit:
ARTICLE i.
The name and title of this corporation
is and shall be the BIRD REBUILDING
COMPANY, and under said corporate
name it shall have and enjoy succession
for the period of ninety nine (99) years
from the date thereof under its corporate
name commencing with the date of this
act, unless sooner dissolved by the ac
ton of its stockholders or in the manner
provided by law; under its corporate
name it shall have and enjoy and eXer-
else all the rights and powers and privi-
legeS hereinafter set forth, as well as those
now granted or that may hereafter be
granted by law to corporations of this
character. with full authority to contract.
sue and be sued, plead and be implicated.
appear. answer and prosecute. in any and
all courts of justice. and elsewhere; to
make and use a corporate seal, which is
hereby described as follows:
Two concentric circles having
within the words BIRD RE
BUILDING COMPANY" NEW
ORLEANS, in the margin, and an
EAGLE design in the center"
To name and appoint such directors,
officers, managers, clerks, attorneys,
agents and other employees, to admin
lister its affairs as may be deemed neces-
sary and proper; to make and Ordain such
bylaws, rules and regulations for the
proper management of its affairs as may
be deemed necessary and proper and same
to repeal, amend and alter at pleasure.
ARTICLE III.
The domicile of this corporation shall
be in the City of New Orleans. All eta
tons or other legal process shall be served
upon the president of said corporation.
or in the event of his absence upon the
vice-president, who is acting president,
or in the absence of both as the law di-
reefs.
ARTICLE III.
The capital stock of this corporation
Is hereby fixed at the sum of Sixty
Thousand Dollars (S60,0OO.OO), whereof
Forty Thousand (S40,000.00) shall be COM
mon stock and Twenty Thousand $50
0O0.O0) shall be preferred stock, divided
! into six hundred shares. having a par
value of One Hundred Dollars (s1OO.00)
each, to be paid for by the subscribers in
money, property or labor done at the
time of subscription or in property reg
ularly transferred to the corporation as
shall be determined by the Board of Di-
/ rectors. The preferred stock of this cor
poration Is never to exceed fifty per cent
| (50T) of its total capital stock. The
control and management of this corpora
/ ton, including the voting power and all
other corporal powers, usually exercised
| by it, to be vested in the common stock
to the exclusion of the preferred stock
herein created.
Said stock shall be represented by GER
| tificates of stock signed by the President
/ and Treasurer, and in the presence of
| the President, by the Vice-President and
/ shall be transferred on the books of the
/ company only upon surrender or proof of
/ loss or destruction of the outstanding
| certificates; no stakeholder shall be en-
| titled to vote on any shares transferred
/
the day upon which he attempts to vote
/ same.
The capital stock shall be fully paid
and nom assessable; when issued Il shall
be represented by certificate and shall
| be personal property.
The holders of said preferred stock
! shall be entitled to receive during each
| fiscal year out of the net earnings of the
| company's preferential cumulative divi-
| dends. at the rate of eight (S9e) per cent
4 nxvnf.H al, h.
| day of May. After the payment of the
said preferential cumulative dividend of
| eight per cent (S%) for any fiscal year
to the holders Of the preferred stock. any
| further amount declared in dividends for
said year shall be paid to the holders of
the common stock to the extent of eight
| per cent $50 per annum and should
| there be any further amount declared in
dividends, after reserving such sums of
money will be necessary for making
| needed repairs and extensions to the COM
| panies plants and necessary extensions
to its business the said further amount
shall be divided pro rata among the hold
ers of the preferred and common stock
in accordance with their holdings; pro-
vided, however that the Board of Direc-
| tors of the company may in their dis
erection declare dividends in any fiscal
year on the common stock, but no such
dividends shall be declared on the COM
mon stock, unless all cumulative dividends
for previous years and all accrued INSTALL
preferred stock shall have been set apart
OF paid.
The holders of the preferred stock shall.
in case of liquidation or dissolution of
the company, be entitled to be paid in full
the par value of this preferred shares and
the dividends accumulated and unpaid
thereon, before any amount shall be paid
to the holders of the common stock. Said
preferred stock shall be subject to re-
demption at One Hundred and Ten Dol
lars (S11O0O per share and accumulated
dividends thereon at any time after one
year from the issue thereof at such time
or times and in such manner as the
Board of Directors shall determine.
ARTICLE IV.-The objects and pur-
poses for which this corporation is or
ganized and the nature of the business
to be carried on by 1t is hereby declared
to be: To carry on at Loyola University
in the City of New Orleans, Parish of
Orleans. State of Louisiana, or elsewhere,
an Auto Mechanic School or schools,
terms, a sound and practical general and
technical auto mechanic training of the
highest order, to provide for the jnstruc-
ton of students, shop practice. classes,
individual instruction, exhibitions and
conferences, calculated directly or indi-
rectly, to advance the practical knowledge
and general professional and technical
education of the student.
To manufacture, construct. and deal in
automobiles, motor trucks. vehicles, auto
and truck parts, machinery, appliances
and accessories and auto machine plants
of every kind, nature and description
whatsoever to acquire by purchase lease
or otherwise and to manufacture con-