The Caucasian. (Shreveport, La.) 1900-192?, 1911-07-09
AMENDMENTS
To Charter of the Shreveport Mutu-
al Building Association

Pusurant to notice, dated May IS,
1911. a copy of which is hereto an
nexed, and which has been publish
ed in the Shreveport Times for ten
days, a meeting of the stockholders
of the Shreveport Mutual Building
Association was held this day at its
office, No. 222 Milan street, Shreve-
port, Louisiana, at o'clock, p. m,
at which meeting sixty stockholders
were present, in person or represen-
ted by proxy, said stockholders
owning and holding eight hundred
six shares of the stock of said As
sociation, of the par value of one
hundred sixty-one thousand two
hundred dollars (st61, 100000.
The meeting was organized by the
election of VIM. J. Bayersdorffer
SIS chairman and N. Z. Flowers as
secretary.
The chairman stated that the
meeting was called to amend the
Charter Of the Association.
On motion, duly seconded. it was
resolved that Article ~ be amended
so as to read as follows:
The Capital Stock Of this Asso-
citation shall be Five Million Dol
lars (s5,0OO,0OOOO), divided into
Twenty-Five Thousand Five Hun
dred (22,500) shares, which may be
issued as full shares of Two Hun
dred (S20000) dollars each, or as
half shares of One Hundred (St00)
dollars each; and Ten Thousand
100000 shares of Fifty $3.50 dollars
each.
The Board of Directors shall have
the power to close each Series be-
fore opening following one when
ever shares representing any Series
shall, by reason Of the payment of
installments and accumulatlons, be
worth the par value of Two Hun
dred 100000 dollars each; said
stock shall be payable in Install
ments of twenty-five cents per
week, and no member shall own
more than twenty (20) shares in any
one Series of the Two Hundred dol
lars share stock, and designated
alphabetically, A to Y, and numerl-
cally thereafter, beginning with the
number 26. Each share of the Ser
ial stock shall be entitled to one
vote, provided no one stakeholder
shall be entitled to vote more than
twenty shares. The Fifty Dollars
{S50O0) q share stock shall consti-
tute a class to be known as Juven-
lie Stock, the dues on which shall
be payable in installments of ten
cents per week, and shall be issued
to and in the name of any minor not
over eighteen years of age, and no
member shall own more than TWEEN
ty shares. The accumulated savings
and dividends credited thereon may
be withdrawn in whole or in part
by such minor only, and his or her
receipt will be sufficient; and the
owner of such shares shall not be
entitled to vote at any meeting OF
the Stockholders, nor shall the stock
be transferable.
Whenever the Serial Stock, by
reason Of payments of installments
and aceumulations, shall be worth
the par value Of Two Hundred
i$20000) dollars per share, and the
Juvenile Stock, by reason of pay
ments of installments and accumu-
cations, shall be worth the par value
of Fifty $4,000 dollars per share,
the same shall be liquidated as
speedily as is consistent with the in
terest of the subscribers. and, when
ever the shares representing the
last remaining Series shall be worth
par, the Association shall be liqui-
dated by three commissioners Sc
lected by the Board of Directors
from among the stockholders.
That paragraph of Article IVA
be amended SO as to read as fol-
lows:
All of the stock of the book val
ne of $4,000 or more per share
of the Serial stock, or $500
or more per share of the Ju-
venile stock, held by the stock
holders and unpledged to theI
Association. shall !. be redeemable
by said Association at the pleasure
of the Board of Directors, after CIV
ing to said stockholders thirty days
notice, on the following terms and
conditions: The said stockholders
to have the right of choice of the
two plans. to-wit::
That the following be added to
paragraph one of Article ~ A, as
section lib, following section T.
BY said Association issuing to
said stockholders Certificates OF In
debtedness of the denomination of
not less than One Hundred $4,000 |
dollars each, or any multiple there
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