The herald. [volume] (New Orleans, La.) 1905-1953, 1913-04-10
CHARTER

VI Inn LOCAS pCt<DoiHA-' ~ $3.50
UNITED STATES OF AMERICA, STATE
| OF LOUISIANA, PARISH OF ORLEANS,
CITY OF NEW ORLEANS.
Be it known, that on this 18th day of
| the month of March, in the year OF our
| Lord one thousand nine hundred and thlr-
| teen, and of the independence Of the United
States of America, the one hundred and
| thirty-seventh, before me. Edgar Mayer
Calm, a notary public, duly commissioned
| and qualified, in and for the City of New
Orleans, State of Louisiana, therein resid-
ing and in the presence of the witnesses
hereinafter named and undersigned person
ally came and appeared the parties whose
names are hereunto subscribed, who de-
clared, that availing themselves of the pro-
visions of the laws of this state relative TO
corporations, they have covenanted and
agreed, and do, by these presents covenant
and agree, and bind themselves, as well as
such other persons as may hereafter become
associated with them, to form and consti-
tute corporation, and body polite in law
for the purposes and objects, and under the
stipulations and articles and conditions, fol-
lowing, to-wit:
ARTICLE l.
This corporation shall be known as the
Louis GOldstein & Sons Co." and its domi-
cile shall be in the city of New Orleans
state of Louisiana. The president OF the
board Of directors thereof, or in his absence.
the vjce-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 ana use
corporate seal with such device, as may
hereafter be determined upon the same to
break, alter or amend 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 and
proper, and the same TO change, alter and
| 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 III.
The objects and purposes OF this corpor-
| alton are to conduct and transact the busi-
ness of wholesale dealers in dry goods no.
| lions, furnishing goods and other articles
to take over, acquire, succeed to and con.
duct the business and assets and good will
Of the firm Of Louis Goldstein & Sons, of
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 III.
The capital stock Of this corporation Is
hereby fixed at the sum Of two hundred
thousand dollars $500, 0000O), to be repre-
sented by one thousand q ,OOO) shares Of
| preferred stock of the par value of one hun
| dred dollars (S10O.OO) each, and one thou
sand Q,OOO) shares Of common stock of the
par value Of one hundred dollars ($10000)
each. This corporation shall be a going
| concern as soon as sixty thousand dollars
| S6O,OO0.OO) of Its capital stock shall have
been subscribed for The board of directors
| shall have the right to issue common stock
| for cash, or for services rendered, merchan-
disc. property or other valuable considera-
1 Inn 10 hn
| may see fit: but preferred stock shall only
issue for cash payable at such times as the
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 profits
OF the corporation a fixed dividend Of seven
10 per cent, per annum payable quarterly,
Der before any dividend can be paid or set
aside ON or for the common stock FOR the
period heretofore elapsed. The principal
or par value of said preferred stock with
per cent per annum from date dividend
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 the
company In preference to any of the COM
mon stock, In the event of the liquidation of
| this corporation from any cause, and before
any distribution can be made of the capital
among the holders Of the common stock
The dividends upon the preferred stock are
TO be cumulative, and bear 9 per cent inter-
est from their maturity date, as herein pro-
vided, compounded annually, so that IL for
any period or periods the said dividends
are not paid, the right thereto shall cumu-
late against the common stock and all ar
rears or such dividends so cumulated and
interest thereon as herein provided, must he
paid before dividends can be paid on the
common stock The preferred stock shall
not be entitled however to participate in
any other additional earnings, dividends or
profits. The right OF the holder of pre-
ferred stock to be credited with dividends
shall commence from the date of actual paw
ment OF such stock
The board of directors shall have the
right and option of retiring the preferred
STOCK IN whole or In part at any time and
from time 10 time-after one year from
the date OF the charter-at the price of one
hundred and fifteen dollars Csi150O1 ner
snare In addition to the cumulated diyi-
dends and interest thereon, as hereinaboye
provided for. Such retirement shall be at
the option Of the board of directors and
shall be effected by payment out OF the
surplus funds; and in no case shall such
preferred stock be retired under circum-
stances as would produce an impairment
OF the capital stock Of this corporation. the
Outstanding common stock TO be then worth
no less than par. Such retirement or re-
demption Of preferred stock can only be
effected on thirty days previous notice In
writing to the holders of preferred stock of
record, after drawing by lot, in the pres