The herald., 1911-11-09

this city, a special committee appointed for
the purposes hereof.
stockholders of the "ST. TAMMANY SHIP
YARD" a corporation organized undsr ,ne
laws OF this state, by an act passed IN thls
office on August %, 1908, recorded In the
mnrtgoge offce. book 9l2, folio 312,-on
July %, 1911, pursuant to notices sent 10
each stockholder at his last known post
amended so as to read hereafter as follows
ARTICLE ".
The capital stock OF this corporation Is
fixed at the sum Of ten thousand (slo,g9oo00,
| dollars divided into one hundred (loOl
shares OF the par value OF one huhdreu
! $1,000 dollars each, which shares shall De
paid for in cash, or In the purShase 3i p Pr,
! perty. All shares OF stock shall be fnll pald
and worcestershire. No transfer or STOCK
shall be binding upon the corporation unless
made upon its books, and all certincates OF
stock shall be signed by such officers as may
| be designated by the board OF directors
All stock in this corporation SHAH be heId
upon a condition precedent and under con,
| tract and agreement in the nature OF vestei
| rights that all such stock Is so held ano
possessed subject to the rules and provisions
for the transfer Of same as hereinafter set
First. No sale or other transfer OF
shares OF stock In this corporation shall De
valid until and unless the opportunity mas
been first afforded the shareholders or record
at the date OF such transfer, sale or other
alienation TO purchase such stock at book
value plus twenty-five per cent, the value
TO be aScertaned in the manner herein pre-
scribed. The right to acquire said stock
hereby first vested In the other stocknolders
OF record shall follow the stock into any
hands to which 1t may pass and may be eI-
prcised against the holders thereof within
ninety days from the time any sale or trans
fer thereof has been offered to be entered on
the books OF the corporation: ,o,,o, =, STOCK
| In this corporation who intends or desires
to sell. transfer, ALLEVIATE or otherwise dis
pose OF the same to give ten days written
, notice OF such intention or desire TO the
: | board OF directors OF the corporation, VINO
, are hereby constituted agents or the other
: stockholders for the purpose OF SUCH notice
and said board OF directors shall give lmme,
date information thereof, In writing, 10 all
the other stockholders OF record. Before
the expiration OF the ten days from the re-
| cent OF said notice by the board OF directors
, any shareholder OF record may ofer 10 pur-
chase, and may acquire the right TO pur.
D chase. said stock by notifying the board or
directors in writing and thereafter shall de-
post the price Of said stock in cash with the
. corporation on or before the expiration OF
: eighty days from the last mentioned date.
Upon receipt of the first mentioned no.
! tice, the board OF directors shall advise the
person owning said stock, his agent or repre-
sentative, to join with said board In ming
the value Of said stock, which value shall
, be established on the basis of the last an.
= nual or semiannual statement or report OF
!, the corporation and the last monthly trial
- and 10 the value thus found and established
: there shall be added twenty-five per cent,
a and the sum thus found and established shall
, | constitute the value and price OF said stock.
}; IL within twenty-four hours after such
= notice. the owner, his agent or representa-
:, tive. does not join with the board in estaS-
the price or ya0e 81 t the tfe
q fix the said value, using the report and
u trial balance aforesaid for that purpose,
!. which writings are declared to be conclusive
| ovid IN nd a infer
!. est In the premises, whether the value Is
Y established by the joint act OF the owner
e by the board OF directors acting in default
;, OF the cooperation Of said person or per
~ sons.
D. any shareholder TO purchase said stock and
upon obtaining guarantee satisfactory Il
: said board for the price thereof. the board
;, OF directors shall thereupon give notice
y thereof TO the owner OF the stock, his agent
L or representative, and before the expiration
- of the period Of eighty days aforesaid shall
~ call in the certificate or certificates repre-
lie value thereof and cause the same to b
transferred on the books TO the purchaser.
Second. The preference, option and RICH
of purchase heretofore vested by para apl
- First in the other shareholders shall exis
III in full force and effect in their favor to &C
ne quire the shares of stock OF deceaset
IN stakeholder, and the formalities and cou.s
&c OF procedure. the terms, conditions. stipula
ed tions and delays hereinabove established II
III said paragraph shall apply In all respects Z
lg the procedure to be followed In case o
k death. Immediately upon receipt OF infor
OF nation OF the death OF any shareholder.
shall be the duty of the board Of directors t
cause the necessary steps to be taken I
carry out and enforce these provisions.
or Third The preference, option and RICH
IS, OF purchase hereinabove established sha
re run in favor OF each shareholder of recor
ay for his virile share in proportion to his e,
RS isting holdings in the stock. but should an
es shareholder fail to exercise his right in thi
yo regard his rights shall pass to and be al
sorbed by the other shareholders. provide
* that the owner, his widow, heirs or legs
in representatives, as the case may be, sha
OF not be obliged to deliver said stock unle:
ks the offers to purchase the same shall includ
Of and cover the entirety OF the offerings undo
Of paragraph First or all of the holdings undo
re- Fourth. All certificates of stock sha
Of bear upon their face brief reference to Il
ny rights herein established In favor of Il
by stockholders"
it AS the whole more fully appears by Il
wn annexed certified copy of the minutes Of sa
her meeting, made a part hereof.
the Thus done and passed in my Office on h
m day, month and year first above written,
the the presence of Franz B. Twomey and Frar
ra- J. Basile, competent witnesses, who ha'
Gle signed with appearers and me, the notar
for after reading the whole.
APP Original signed Ernest Lee Jahnck
uld Paul F. Jahncke
be F. B. Twomey, F. J. Basile.
ore FELIX ]. DREYFoUS. Not. Pub.
my I, the undersigned. recorder Of mortgage
OF in and for the parish of Orleans and sta
Of of Louisiana, do hereby certify that [
'rd- above and foregoing amendment to the a
of Incorporation OF the "St. Tammany Sh
Yard was this day duly recorded In my
flee, In book -, folio =.
New Orleans, August 10, 1911.
nd (Signed)
ion EMILE LEONARD, d. r.
, of A true copy from the original act
ted FELIX J. DREYFoUS, Not. Pub.
lied (Seall 204 l.. & L. & G. Build;l
tice oct II 10 20 nov 9 16 1911
OF