The herald., 1913-04-24
ARTICLE /.

This corporation shall be known as the
Louis Goldstein & Sons Co." and its domi-
Gle shall be In the city of New Orleans,
state Of Louisiana. The president or the
board Of directors thereof, or in his absence.
the vice-president, shall be the proper per-
son on whom citation or other legal pro
cess shall be served, and said corporation
shall exist, and have and enjoy succession
under its aforesaid corporate name, for the
full term of ninety nine years from and
after the date hereof, and shall have power
and authority to contract, sue and be sued
In its corporate name, to make and use q
corporate seal with such device, as may
hereafter be determined upon; the same 10
break, alter or amend as might be deemed
proper; to make and establish such bylaws
rules and regulations for the proper man
agement and regulation of the affairs OF
said corporation as may be necessary anC
proper, and the same to change, alter anc
amend at pleasure; to borrow money, MAKE
notes, bonds or obligations and to pledge
its capital stock; to hold lease, receive
purchase and convey as well as to mortgage
and hypothecate, under its corporate name
property both real and personal.
ARTICLE II.
The objects and purposes Of this corpor
alton are to conduct and transact the Dusl
ness Of wholesale dealers in dry goods no
tions furnishing goods and other articles
| to take over, acquire, succeed 10 ana con
duct the business and assets and good viii
of the firm OF Louis Goldstein Sons, o.
New Orleans, La, and generally to acquire
and transact any other business incidenta
to or connected with the general object
Of this corporation as herein set forth.
ARTICLE III.
The capital stock of this corporation 4
hereby fixed at the sum Of two hundred
thousand dollars (S200,000.00l, to be repre-
sented by one thousand Q,OO0) shares o.
preferred stock of the par value of one hun
dred dollars (S100.00D each, and one thou
sand 1,000) shares of common stock OF TIT
par value of one hundred dollars 100000
each. This corporation shall be goini
concern as soon as sixty thousand dollar!
| $3.50, 0O0.O0) of its capital stock shall hav'
been subscribed for. The board Of director!
shall have the. right to issue common stool
| for cash, or for services rendered, merchan
disc, property or other valuable considera
| lions, enuring to the corporation as thel
| may see fit; but preferred stock shall only
| issue for cash payable at such times as tn,
board Of directors may call for same.
ARTICLE w.
The other conditions, limitations and pro
visions under which preferred stock shall
| be issued are hereafter enumerated:
The holders of the preferred stock shall
| be entitled to receive out of the net profit
Of the corporation a fixed dividend Of sever
| 90 per cent. per annum payable quarterly
| viz: list OF January, April, July and Octo
| Der before any dividend can be paid or Sc
aside on or for the common stock for tn
| period heretofore elapsed. The princiPa
or par value OF said preferred stock witt
F, cumulative dividends thereon at seven q
per cent per annum from date dividen
should have been paid and arrears Of inter
est on such dividends as hereinafter fixed
shall be paid in full out Of the assets of tn
/ company In preference to any of the com
mon stock, in the event Of the liquidation o
this corporation from any cause, and befor
any distribution can be made OF the capita
among the holders Of the common stoci
The dividends upon the preferred stock ar
to be cumulative. and bear per cent inter
est from their maturity date, as herein pre-
vided, compounded annually, so that IL 70
any period or periods the said dividend
are not paid, the right thereto shall cunt
late against the common stock; and all al
rears Of such dividends so cumulated an
interest thereon as herein provided. must
paid before dividends can be paid on tn
common stock. The preferred stock sha
not be entitled however to participate
any other additional earnings, dividends q
profits. The right OF the holder of pr,
ferred stock to be credited with dividend
shall commence from the date of actual pa,
ment OF such stock.
right and option Of retiring the preferre
stock In whole or In part at any time, an
from time to time-after one year frol
the date Of the charter-at the price of or
hundred and fifteen dollars (s115.00) pr
share In addition to the cumulated div
dends and interest thereon, as hereinaboy
provided for. Such retirement shall be q
the option of the board Of directors an
shall be effected BY payment out of ii
surplus funds: and in no case shall sue
preferred stock be retired under circun
stances as would produce an impairmer
Of the capital stock Of this corporation. tn
outstanding common STOCK to be then wort
no less than par. Such retirement or r,
demption Of preferred stock can only B
effected on thirty days previous notice 1
writing TO the holders Of preferred stock q
record. after drawing BY lot, In the pre-