The herald., 1911-11-09
AMENDMENT TO
CHARTER
"JAHNCKE REALTY COMPANY"
OF LOUISIANA, CITY OF NEW
ORLEANS.

BE 1t known, that on this eighteenth day
OF the month OF August, in the year one
thousand nine hundred and eleven, before
me, Felix ]. Dreyfous, a notary public, dniy
commissioned and sworn in for the parish
or Orleans and city Of New Orleans, therein
residing, personally appeared, MessrS. Ernest
Lee Jahncke and Paul +. Jahncke both OF
TINS city, special committee appointed for
the purposes hereof.
Who declared that at a meeting OF the
stockholders of the "JAHNCKE REALTY
IoMPAN1, corporation organized under
the laws OF this state, by an act passed in
this ONCE on August %, 1908. recorded in
the mortgage office, book 9l2, folio 37O-on
July %, 1911, pursuant to notices sent TO
eaGh stockholder at his last known postofice
address,, Article ~ Of said charter was
amended so as TO read hereafter as follows !:
ARTICLE ".
The capital stock OF this corporation I,
liked at the sum OF fifty thousand dollars,
divided Into five hundred (5OO) shares of
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 worcestershire
No transfer of stock shall be binding upon
the corporation unless made upon its books
and all certificates Of stock shall be signed
by such oticers as may be designate ted by the
board OF directors.
All stock in this corporation shall be held
upon condition precedent and under CON
tract and agreement in the nature Of vested
rights that all such stock Is so held and
possessed subject TO the rules and provisions
Tor 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
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
linz In thn
scrfbed. The right to acquire said stock
hereby first vested in the other stakeholder,
Of record shall follow the stock into any
hands to which 1t 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
the books or 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 or 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
stockholders 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-
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 the receipt OF the first mentioned
notice. the board OF directors shall advise
the person owning said stock, his agent or
to join with said board In
fixing the value OF said stock, which value
shall be established on the basis of the last |
annual or semi-annual statement or report |
Of the corporation and the last monthly trial |
balance preceding the date Of such notice. |
and to the value thus found and established |
there shall he added twenty-five per cent, |
and the sum thus found and established shall |
the value and price Of said stock. |
If within twenty-four hours after such |
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 |
TX the said value, using the report and trial
writings Are declared to be conclusive EVIL
ience for and against all parties in interest /
n the premises, whether the value Is estab
ished 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 persons
Upon receipt Of the offer or acceptance OF
my shareholder to purchase said stock and
Ipon obtaining guarantee satisfactory to
aid board for the price thereof, the board
II directors shall thereupon give notice
hereof to the owner Of the stock, his agent
IT representative, and before the expiration
II tue perlOu OF elgnty Gays d1OreSdl0 snail
all in the certificate or certificates repre-
enting such stock and pay the price or
Talue thereof and cause the same to be
on the books to the purchaser.
4 purchase heretofore vested by paragraph
first in the other shareholders shall exist
n full force and effect In their favor to ac-
uire the shares Of stock Of deceased stock.
older, and the formalities and course of
Procedure, the terms, conditions, stipula
ions and delays hereinabove established In
aid paragraph shall apply in all respects
o the procedure to be followed In case Of
cath. Immediately upon receipt Of infor-
nation Of the death of any shareholder, 1t
hall be the duty Of the board of directors
o cause the necessary steps to be taken to
AIRY out and enforce these provisions.
Third. The preference, option and right
Z purchase hereinaboye established shall
I'm In favor of each shareholder of record
or his virile share in proportion to his ex-
sting holdings in the stock, but should any
hareholder fail to exercise his right in this
egard his rights shall pass to and be alb
Drbed by the other shareholders, provided
hat the owner, his widow, heirs or legal
as the case may be, shall
he offers to purchase the same shall include
nd cover the entirety Of the offerings I'M
er paragraph First or all of the holdings
nder paragraph Second.
Fourth. All certificates Of stock shall
ear upon their face brief reference to the
As the whole more fully appears by the
ertfied copy of the minutes of said meet
lg, made a part hereof.
Thus done and passed In my office. on the
ay, month and year first above written, In
ne presence Of Frank B. Twoney and Frank
Basile. competent witnesses, who have
gned with the appears and me, the notary,
fter reading the whole.
Original signed) Ernest Lee Jahncke,
aul F. Jahncke.
F. B. Twomey, F. J. Basile.
FELIX j. DREYFoUs, Not. Pub.
I, the undersigned, recorder Of mortgages.
and for the parish Of Orleans and state ,
Louisiana, do hereby certify that the
Dove and foregoing amendment to the act
Incorporation OF the "Jahncke Realty
ompany" was this day duly recorded In my
nee, In book -, folio -.
New Orleans, August 10. 1911.
(SignedD
EMILE LEONARD, ID. r.
A true copy from the original act:
FELIX ]. DREYFoUs, Not Pub.
Seall 204 L. & l.. & G.. Building
t IL 10 90 nov 2 8 10 1911