The herald. [volume] (New Orleans, La.) 1905-1953, 1911-10-12

u
office address, Article " Of said charter
was amended 50 as TO read hereafter as
follows:
ARTICLE ".
The capital stock of this corporation :
hereby liked at the sum Of thirty thousand
dollars, divided into three hundred 300
shares of the par value of one hundred
,SlooI dollars each, which shares shall De
paid for in cash or in the purchase Of pro
prrty. All shares of stock shall be full paid
and worcestershire. No transfer of stock
shall De- binding upon the corporation unless
made upon its books, and ali certificates of
stock shall Dee signed 10y such officers aS
may De designated by the board Of directors.
All stock in this corporation shall b"
held upon condition precedent and under
contract and agreement in the nature of
vested rights that all such stock is so held
and possessed subject 10 the rule and pruvi-
'ionS for the transfer of same hereinafter
set out, tO-wit:
First No sale or other transfer of shares
# stock in this corporation shall De valid
until and unless the opportunity has been
first afforded the shareholders of record al
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 aSc"rtained in the manner herein pre-
Scrihed. The right to acquire said stock
hereby first vested in the other stockholders
Of record shall follow the stock into any
hands TO which ii may pass and may be
exercised 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.
1t shall De the duty Of any holder of
stock in this corporation who intends or de
SireS to sell. transfer, ALLEVIATE or other
wise dispose of the same to give ten days
written 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
immediate information thereof. in writing.
To all the other stockholders of record Be
fore the expiration of the ten days from the
receipt of said notice by the board of direc-
tors any shareholder of record may offer to
purchase. and may acquire the right to pur-
chase. said stock by notifying the board of
directors in writing and thereafter shall
deposit 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
representative, TO join with said board in
fixing the alue 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 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
fix the said value, using the report and trial
balance aforesaid for that purpose. which
writings are declared to be conclusive evil
dence for and against all parties in interest
in the premises. whether the value Is estab-
liShed 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
any shareholder TO purchase said stock and
upon obtaining guarantee satisfactory to
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 expiration
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 paragrap h
First in the other shareholders shall exist
In full force and effect in their favor to ac
quire the shares of stock Of a deceased stock
holder. 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 the procedure to be followed in case Of
death. Immediately upon receipt of ipfor-
nation OF the death Of any shareholder. IT
shall he the duty of the board Of directors
TO cause the necessary steps to he taken to
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
isting holdings in the stock, but should any
shareholder fail to exercise his right in this
sorbed by the other shareholders. provided
that the owner. his widow. heirs or legal
representatives, as the case may he, shall
not No obliged TO deliver said stock unless
the offers to purchase the same shall include
and cover the entirety of the offerings under
paragraph First or all of the holdings under
paragraph Second.
Fourth. All certificates of stock shall
bear upon their face brief reference to the
rights herein established in favor of the
stockholders"
As the whole more fully appears by the
annexed certified copy of the minutes of
said meeting. made part hereof.
Thus done and passed in my Office. on the
day. month and year first above written. in
the presence of Frank h. TwOmey and Frank
J. Basile. competent witnesses, who have
signed with the appearers and me, the no
tary. after reading the whole.
(Original signedl Eernest Lee Jahncke
Paul +. Jahncke.
f. Il. TwOmey, F. ]. Basle
FELIX ]. DREYFOUs. Not. Pub
!, the undersigned. recorder of mortgages
In and for the parish of Orleans and state Of
Louisiana do hereby certify that the above
and foregoing amendment 10 the act Of in
corporation Of the Fritz Jahncke lInc.l"
was this day duly recorded in my Office. in
book , folio =.
New Orleans, August 10, 1911.
(SignedD
EMILE LEONARD. ID. r.
A . ivip a,f.
FELIX J. DREYFoUs, Not. Pub.
(Seal 204 l.. & l.. < G. Building.
oct II 10 % nov . 16 1911