The herald., 1911-11-16
AMENDMENT TO
CHARTER
"ST. TAMMANY SHIP YARD"
OF LOUISIANA, CITY OF NEW
ORLEANS.

Be K known, that on this eighteenth day
Of the month OF August, in the year one
thousand nine hundred and eleven, before
me, Felix J. DreyfOus, notary public, guy
Orleans and city OF New Orleans, theren
residing. personally appeared hessrs. Ernest
Lee Jahncke and Paul r. Jahncke, both OF
this city, special committee appointed loT
the purposes hereof.
who declared that at meeting OF the
stockholders OF the ST. TAAMAN1 SHlF
YARD" corporation organized under me
laws OF this state, by an act passed IN this
Office on August -, 1908, recorded IN the
mortgage Office, book 912, folio 312,-on
July IS, 1911, pursuant to notices sent 10
office address. Article " OF said charter was
amended so as to read hereafter as follows
ARTICLE ".
The capital stock OF this corporation lie
fixed at the sum Of ten thousand t$1O,00ol
dollars, divided into one hundred (lOOl
shares OF the par value OF one hundred
$1,000 dollars each, which shares shau De
paid for In cash. or in the purchase OF pro
perty. All shares OF stock shall be full paid
and non assessable. No transfer OF stock
shall be binding upon the corporation unless
made upon its books, and all certificates or
stock shall be signed by such omcers as may
be designated by the board Of directors.
All stock in this corporation shall be held
upon a condition precedent and under con-
tract and agreement in the nature OF vested
| rights that all such stock Is so held ana
possessed subject 10 the rules and provisions
| for the transfer OF same as hereinafter set
/ out tO-wit
shares OF stock in this corporation shall he
valid until and unless the opportunity has
| been 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 he ascertained in the manner herein pre-
! scribed. The right TO acquire said stock
hereby first vested In the other stockholders
/ Of 10
| hands TO which 1t may pass and may be ex-
ercised 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.
II shall be the duty OF any holder OF stock
/ in this corporation who intends or desires
10 sell. transfer. ALLEVIATE or otherwise DIS
| pose OF the same 10 give ten days written
notice OF such intention or desire 10 the
/ board OF directors OF the corporation, who
are hereby constituted agents OF the other
stockholders for the purpose OF such notice,
and said board OF directors shall give imme-
| date information thereof, In writing, 10 all
the other stockholders OF record. Before
/ the expiration OF the ten days from the re
ceipt OF said MOTTO. by the board OF directors
any shareholder OF record may ofer 10 pur-
| chase, and may acquire the right 10 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.
I pom receipt OF the HEsI mentioned uO-
tice, the board OF directors shall advise the
person owning said stock, his agent or repre-
| sentative. to join with said board in fixing
! the value OF said stock, which value shall
| be established on the basis OF the last an
! nual or semi-annual statement or report OF
| the corporation and the last monthly trial
| balance preceding the date OF such notice.
| and 10 the value thus found and established
| there shall be added twenty-five per cent.
| and the sum thus found and established shall
constitute the value and price OF said stock.
II within twenty four hours after such
notice. the owner, his agent or representa-
| tive, does not join with the board in estab-
| fishing the price or value OF the stock. the
| board may proceed without further delay TO
trial balance aforesaid for that purpose
| which writings are declared to be conclusive
! evidence for and against all parties In inter
est In the premises, whether the value is
J established by the joint act OF the owner,
his agent, widow, heir or representatives or
| by the board Of directors acting in default
OF the cooperation OF said person or per.
| sons.
i Upon receipt Of the offer or acceptance OF
any shareholder TO purchase said stock and
| upon obta ming guarantee satisfactory 70
said board for the price thereof. the board
OF directors shall thereupon give notice
| thereof TO the owner OF the stock, his agent
or representative, and before the expirati
Of the period OF eighty days aforesaid shall
senting such stock and pay the price or
value thereof and cause the same to be
transferred on the books TO the purchaser.
Second. The preference. option and right
of purchase heretofore vested by paragraph
\ First in the other shareholders shall exist
| in full force and effect in their favor to &C.
quire the shares OF stock of q deceased
stakeholder, and the formalities and course
OF procedure, the terms, conditions stipula.
tions and delays hereinabove established In
said paragraph shall apply in all respects to
death Immediately upon receipt of infor
nation OF the death OF any shareholder, II
shall be the duty of the board OF directors tc
cause the necessary steps TO be taken &c
carry out and enforce these provisions
Third. The preference, option and right
OF purchase hereinabove established shall
run in favor Of each shareholder Of record
for his virile share In proportion to his ex
listing holdings in the stock. but should any
shareholder fail TO exercise his right In thi,
regard his rights shall pass TO and be alb
sorbed by the other shareholders. provided
that the owner, his widow, heirs or legs
representatives, as the case may be- shall
not be obliged to deliver said stock unles.
the offers TO purchase the same shall includ,
paragraph First or all Of the holdings undel
paragraph Second.
Fourth. All certificates Of stock shall
bear upon their face brief reference to tn,
stockholders"
As the whole more fully appears by tn,
annexed certified copy OF the minutes Of saiC
meeting, made a part hereof
Thus done and passed In nv ONCE, on tn,
day, month and year first above written. II
the presence OF Frank B. Twomey and Franz
j. Bssile, competent witnesses, who hav
signed with appearers and me, the notary
after reading the whole
Original signed): Ernest Lee Jahncke
| Paul Y. Jahncke.
II F. B. Twomey, F. ]. Basile.
FELIX ]. DREypoUs. Not Pub
/, the Undersigned, recorder OF mortgages
IN and for the parish OF Orleans and stat
OF louisiana, do hereby certify that tn,
above and foregoing amendment TO the ac
OF Incorporation of the "St. Tammany Shi-
Yard was this day duly recorded In nv Of
nee, In book -, folio -
i New Orleans August 10, 1911
(SlgnedD
EMILE LEONARD, .. r.
true copy from the original act:
FELII ]. DREYFoUs, Not Pub
(seall 204 l.. & L. & G. Building
, oct Il 10 &c nov 8 16 1911