The herald., 1913-03-27
CHARTER
OF THE LOUIS GOBDSTElN x SONS
co"

tllAKlEK
OF THE LOUIS GobDSrElN SONS
CO.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA, PARISH OF ORLEANS
CITY OF NEW ORLEANS.
Re II known, that on this 18th day OF
the month of March, in the year Oh our
lord one thousand nine hundred ana IhlI
teen, and Of the independence OF the Iulteu
states Of America the one hundred and
70 thirty seventh, before me- Edgar mayer
Calm, a notary public, duly c0mmlssioneu
and qualified, in and for the CITY OF NV
Orleans. state Of Louisiana, therein resld-
ing and in the presence OF the witnesses
hereinafter named and undersigned person
alIy came and appeared the parties whose
names are hereunto subscribed, VINO ue
ciarcd that ayailing themselves OF the pro-
visions of the laws OF this state relative 10
corporations, they have covenahteu anu
agreed and do, by these presents covenant
and agree, and bind themselves, as wen as
such other persons as may hereafter become
associated with them, TO form and consti-
tute corporation, and body p0litlc III law,
for the purposes and objects, and under the
stIpulations and articles and conditions, FOL
lowing, to-wit:
ARTICLE |.
This corporation shall be known as the
Louis GOldstein X Sons Co. and It's dolhl-
ellie shall be In the city or New orleans,
state of louisiana The president Oh ,ne
board OF directors thereof, or in his absence
the ylce-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, Tor the
full term of ninetynine years from ana
after the date hereof, and shall nave power
and authority to contract, sue ana DE sueu
i'm its corporate name, TO make and use a
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
,loffn fnF 10
agement and regulation of the affairs OIL
said corporation as may be necessary and
proper and the same to change, alter and
amend at pleasure to borrow money , IndSs
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 IL.
The objects and purposes OF this corpor
alton are 10 conduct and transact the Dusl
ness of wholesale dealers In dry goods no
lions, furnishing goods and other articles
TO take over, acquire, succeed to ana con
duct the business and assets and GOOD VII
of the firm OF Louis Goldstein 4 Sons, o.
New Orleans La, and generally TO acquire
and transact any other business incidental
to or connected with the general objects
Of this corporation as herein set forth.
ARTICLE Ill.
The capital stock OF this corporation
hereby fixed at the sum OF two hundred
thousand dollars tS2OO,OOO.OOl, to be repre-
sented by one thousand (1,OOO) shares o
preferred stock OF the par value of one lsin
dred dollars (S100.OOD EACH and one thou
sand 1,O00) shares OF common stock OF tn
par value OF one hundred dollars tSloo.oo
each. This corporation shall be goln;
concern as soon as sixty thousand dollar
1850. O0OOO) of its capital stock shall hav'
been subscribed for The board of Director
shall have the right TO issue common stoci
for cash, or for services rendered, merchan
disc. property or other valuable considera
lions, enurng 10 the corporation as the!
may see fit but preferred stock shall onl!
issue for cash payable at such times as TIT
board OF directors may call for same.
ARTICLE ".
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
ca 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 wit
cumulative dividends thereon at seven q
per cent per annum from date d'viden
should have been paid and arrears oC intei
est on such dividends as hereinafter fxet
shall be paid In full out OF the assets of III
company In preference to any OF the con
mon stock, in the event OF the liquidation
this corporation from any cause. and befol
any distribution can be made Of the capit
among the holders OF the common stoc
The dividends upon the preferred stock
TO be cumulative. and bear 6 per cent inte
- est from their maturity date, as herein Or
yided, compounded annually. so that II Z
any period or periods the said dlviden
are not paid, the right thereto shall cum
late against the common stock and all 9
rears of such dividends so cumulated a.
interest thereon as herein provided. must
paid before dividends can be paid ON I
common stock. The preferred stock sh
not be entitled however to participate
any other additional earnings, dividends
profits. The right of the holder of p
ferred stock TO be credited with diyideT
shall commence from the date OF actual ID
ment OF such stock.
The board OF directors shall have
right and option OF retiring the prefer
stock In whole or In part at any time, a
from time to time-after one year fr
the date OF the charter-at the price OF {
hundred and fifteen dollars (S115.O0)
share In addition to the cumulated di
dends and interest thereon. as hereinabC
provided Cor. Such retirement shall be
the option of the board of directors a
shall be effected by payment out Of
surplus funds; and In no case shall 81
preferred stock be retired under circu
stances as would produce an impairmC
outstanding common stock TO be then VOL
no less than par. Such retirement or
demption Of preferred stock can only
effected on thirty days previous notice
writing TO the holders OF preferred stock
record, after drawing by lot. In the Or
ence Of the board Of directors Upon su
notice, all dividends, interest and arres
shall cease with respect TO such retir
stock.