The herald. [volume] (New Orleans, La.) 1905-1953, 1911-11-16
AMENDMENT TO
CHARTER
"JAHNCKE REALTY COMPANY"
OF LOUISIANA. CITY OF NEW
ORLEANS.

| BE 1t known, that on this eighteenth da,
or the month of August, In the year on
thousand nine hundred and eleven. befor
me, Fellx j. DreyfouS, a notary public dull,
commissioned and sworn In for the parIsi
OF Orleans and city Of New Orleans. therein
| residing, personally appeared, Messrs Erpes
Lee Jahncke and Paul F. Jahncke, both o
| this city, a special committee appointed 70
the purposes hereof.
Who declared that at a meeting OF IN,
stockholders OF the "JAHNCKE REALTY
tOMPANl, a corporation orga nized undel
me laws OF this state, by an act passed il
the mortgage office. book 912. folio 37O-or
July %, 1911, pursuant to notice. sent K
each stakeholder at his last known postoff1c,
address. Article " of said charter wa.
amended SO as TO read hereafter as follows
ARTICLE ".
The capital stock OF this corporation 1.
fxed at the sum Of fifty thousand dollars
divided into five hundred C5OO) shares oI
the par value of one hundred dollars each
which shares shall be paid for in cash. or IN
the purchase Of property. All shares OF
stock shall be full paid and non-assessable
No transfer Of stock shall be binding upou
the corporation unless made upon its books
and all certificates of stock shall be signed
Dy such officers as may be designated by the
board Of directors.
All stock In this corporation shall be held
tract and agreement In the nature of vested
rights that all such stock Is so held and
possessed subject to the rules and provisions
for the transfer Of same hereinafter set out,
to-wit:
First. No sale or other transfer of shares
or stock In this corporation shall be valid
until and unless the opportunity has beer
first afforded the shareholders OF 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 ascertained In the manner herein pre-
scribed The right to acquire said stock
hereby first vested in the other stockholders
OF record shall follow the stock into any
hands to which IL may pass and may be eI-
ercised against the holders thereof within
ninety days from the time any sale or trans
fer thereof has been offered to be entered on
he books Of the corporation.
1t shall be the duty of any holder OF
stock In this corporation who intends or
desires to sell, transfer, ALLEVIATE or otherwise
dispose OF the same to give ten days writ
ten notice OF such intention or desire to the
board OF directors Of the corporation, who
are hereby constituted agents of the other
for the purpose Of such notice
and said board Of directors shall give I'm
mediate Information thereof, in writing, to
all the other stockholders OF record Before
the expiration Of the ten days from the re-
ceipt OF said notice by the board OF directors
any shareholder OF record may offer to pur-
chase, and may acquire the right to pur-
chase, said stock by notifying the board Of
directors in writing and thereafter shall de-
posit the price Of said stock In cash with the
corporation on or before the expiration of
eighty days from the last mentioned date.
Upon the receipt Of the first mentioned
notice, the board of directors shall advise
the person owning said stock, his agent or
king the value Of said stock, which value
shall be established on the basis Of the last |
annual or semi-annual statement or report |
" the corporation and the last monthly trial |
"a In ran linz NhA Hat
Ind to the value thus found and established |
here shall be added twenty-five per cent |
md the sum thus found and established shall |
the value and price of said stock |
III within twenty-fOur hours after such /
lotlce, the owner, his agent or representa-
i've. does not join with the board In estab-
ishing the price or value of the stock, the
'oard may proceed without further delay to
* the said value, using the report and trial
alance aforesaid for that purpose, which
writings are declared TO be conclusive evil
ence for and against all parties In interest
the premises; whether the value is estas-
ished by the joint act of the owner, his
gent. widow, heir or representatives or by
he board of directors acting In default of
he cooperation of said person or persons.
Upon receipt Of the offer or acceptance OF
ny shareholder to purchase said stock and
pom obtaining guarantee satisfactory to
aid board for the price thereof, the board
I directors shall thereupon give notice
hereof to the owner Of the stock, his agent
I
( the period Of eighty days aforesaid shall
all in the certificate or certificates repre-
enting such stock and pay the price or
alue thereof and cause the same to be
transferred on the books to the purchaser.
Second. The preference, option and right
purchase heretofore vested by paragraph
lrst In the other shareholders shall exist
! full force and effect In their favor to ac-
uire the shares Of stock Of a deceased stock
older, and the formalities and course Of
rocedure, the terms, conditions. stipula- |
ons and delays hereinabove established in
lid paragraph shall apply In all respects
} the procedure to be followed In case Of
sath. Immediately upon receipt Of infor-
alton Of the death OF any shareholder, II
lall be the duty Of the board OF directors
cause the necessary steps to be taken to
try out and enforce these provisions.
Third The preference, option and right
purchase hereinabove established SHALL
IN In favor of each shareholder of record
r his virile share In proportion to HIS ex-
ting holdings In the stock. but should any {
areholder fail to exercise his right IN this I
gard his rights shall pass to and be abb l
rbed by the other shareholders, provided
at the owner, his widow, heirs or legal {
personalities, as the case may be, shall !
t be obliged to deliver said stock unless !
e offers to purchase the same shall include t
d cover the entirety Of the offerings IN a
r paragraph First or all Of the holdings !
der paragraph Second. I
Fourth. All certificates Of stock shall !
ar upon their race Drle1 reference TO the =
hits herein established in favor of the (
,ckholders." !
As the whole more fully appears by the n
titled copy Of the minutes OF said meet a
:, made a part hereof. a
Thus done and passed In my Office. on the I
Y, month and year first above written, In 4
; presence Of Frank B. Twoney and Frank
Basile. competent witnesses, who have
ned with the appears and me, the notary,
er reading the whole.
Original slgned) Ernest Lee Jahncke, b
III r. Jahncke. s.
F. B. Twomey, f. j. Basile. r.
FELIX ]. DREYFoUs, Not. Pub. o
I, the undersigned. recorder Of mortgages, 8
and for the parish of Orleans and state o
louisiana, do hereby certify that the II
i've and foregoing amendment to the act r
Incorporation Of the "Jahncke Realty o
mpany" was this day duly recorded In my t
&C. in book -, folio -
New Orleans, August 10, 1917 n
(Signed) s.
EMILE LEONARD, ID. r. ID
4 true copy from the original act:
FELIX J. DREYFoUs, Not. Pub. c.
saD 204 L. & L. & @. Building ID
IL 10 20 nov 2 9 16 1911 81