The herald., 1911-11-02
ARTICLE ".

ARTICLE ".
The capital stock or this corporation I,
fixed at the sum OF fifty thousand dollars
divided into five hundred 5000 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 ot1cers as may be designated by the
board Of directors.
All stock in this corporation shall he 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
to-wit: '
First. No sale or other transfer OF shares
OF stock in this corporation shall be valid
until and unless the opportunity has been
hrst 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 stockholder,
OF record shall follow the stock into any
hands TO which ii may pass and may be eT-
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.
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 DAVIS 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-
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
representative, 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 be added twenty-five per cent. |
and the sum thus found and established shall |
constitute the value and price of said stock. |
IL 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 |
alance aforesaid for that purpose, which
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
- g. 4 1
Of directors shall thereupon give notice
thereof to the owner Of the stock, his agent
DR. representative, and before the expiration
" the period Of eighty days aforesaid shall
'enting 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
First in the other shareholders shall exist
n full force and effect In their favor to ac-
luire the shares Of stock Of deceased stock.
holder. 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
ieath. Immediately upon receipt of infor-
nation Of the death OF any shareholder, II
hall he 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
un In favor of each shareholder of record
or his virile share In proportion to his ex-
sting holdings In the stock. but should any
fall to exercise his right in this
egard his rights shall pass to and be alb
orbed by the other shareholders, provided
hat the owner, his widow. heirs or legal
as the case may be, shall
lot be obliged to deliver said stock unless
he offers to purchase the same shall include
nd cover the entirety OF the offerings IN
Ter paragraph First or all Of the holdings
nder paragraph Second.
Fourth. All certificates of stock shall
ear upon their face brief reference to the
lights herein established In favor Of the
tockholders."
As the whole more fully appears by the
ertifed copy OF the minutes of said meet
az, made part hereof.
Thus done and passed in my Office. on the
ay, month and year first above written, In
he presence of Frank B. Twoney and Frank
Basie. competent witnesses, who have
lgned with the appears and me, the notary,
fter reading the whole.
Original sgned) Ernest Lee Jahncke,
'aul F. Jahncke.
F. B. Twomey. f. ]. Basile.
FELIX ]. DREYFoUs, Not. Pub.
/, the undersigned. recorder of mortgages, |
J and for the parish Of Orleans and state
Louisiana. do hereby certify that the
bove 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.
EMILE LEONARD, d. R.
true copy from the original act:
FHLIx j. DREYFoUs, Not. Pub.
SeaD 204 L. & L. G. Building