The herald. [volume] (New Orleans, La.) 1905-1953, 1913-04-17
CHARTER

OF THE "LOUlS GOi1DoAElN SUNS
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 OF our
Lord one thousand nine hundred ana thlr,
teen, and of the independence or the united
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 resld-
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 covenahted 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 a 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 4 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 vlce-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 a
corporate seal with such device, as may
hereafter be determined upon the same TO
break, alter or amend as might be deemed
proper to make and establish such bylaws,
lrnla n
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
| 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 theTbusi-
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 K Sons, of
New Orleans, La, and generally to acquire
| and transact any other business incid ,ntal
/ to or connected with the general tiects
of this corporation as herein set forth.
i ARTICLE Ill.
l The capital stock Of this corporation Is
| hereby fixed at the sum Of two hundred
| thousand dollars 1920, 000.00l, to be repre-
sented by one thousand 10000 shares OF
dred dollars (s100.O0l each, and one thou
| sand (1,O00) shares Of common stock Of the
/ par value of one hundred dollars ($100.00)
/ each. This corporation shall be a going
| concern as soon as sixty thousand dollars
1850, 0OO.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-
| lions, enuring to the corporation as they
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 Nv.
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 fixed dividend Of seven
| 90 per cent, per annum payable quarterly,
/ viz: LIST OF January, April, July and Octo.
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
, cumulative dividends thereon at seven On
per cent per annum from date dividend
should have been paid and arrears of inter
i 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 per cent inter.
est from their maturity date, as herein pro
vided, compounded annually, so that IL fot
any period or periods the said dividends
are not paid, the right thereto shall cumu
late against the common stock; and all mr.
rears OF such dividends 20 cumulated and
interest thereon as herein provided, must h
common stock. The preferred stock shall
not be entitled however to participate II
any other additional earnings, dividends OF
profits. The right of the holder of pre-
ferred stock to be credited with dividend.
shall commence from the date of actual nav
ment of such stock.
The board Of directors shall have tn,
right and option OF retiring the preferred
stock In whole or IN part at any time, an(
from time to time-after one year from
the date Of the charter-at the price of on,
hundred and fifteen dollars (S115.OO) pc
share In addition to the cumulated divi
dends and interest thereon, as hereinaboy,
provided for. Such retirement shall be a.
the option Of the board Of directors ant
shall be. effected by payment out of tn,
| 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, tn,
no less than par. Such retirement or re
demption Of preferred stock can only b.
effected on thirty days previous notice IN
writing to the holders Of preferred stock OF
record, after drawing by lot, In the pres