The herald. [volume] (New Orleans, La.) 1905-1953, 1913-05-01
ARTICLE /.

This corporation shall be known as tn
Louis Goldstein & Sons Co." and its domi
cile shall be in the city of New Orleans
state of Louisiana. The president of tn,
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 a
corporate seal with such device, as may
hereafter be determined upon; the same tC
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 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 the bust.
ness Of wholesale dealers in dry goods no.
tions, 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. 900 OO), to be repre-.
sented by one thousand 1,00O) shares of
preferred stock OF the par value Of one hun
dred dollars tS100.OOl each, and one thou
sand Cl,ooOl shares Of common stock Of the
par value OF one hundred dollars (S1OO.OO)
each. This corporation shall be a going
concern as soon as sixty thousand dollars
(S6O,OOO.OOl 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-
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 w.
The other conditions, limitations and pro-
visions under which preferred stock shall
De issued are hereafter enumerated:
The holders or the preferred stock shall
De entitled to receive out of the net profits
OF the corporation fixed dividend Of seven
lDHper 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
cumulative dividends thereon at seven ~
per cent per annum from date dividend
should have been paid and arrears of inter
est on such dividends as hereinafter fxed
snail De 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 olstrioution can be made of the capital
among the holders Of the common stock.
me dividends upon the preferred stock are
70 be cumulative. and bear 6 per cent inter
est from their maturity date, as herein nro
vlded. compounded annually, so that II for
any period or periods the said dividends
are not paid, the right thereto shall cnmn.
late against the common stock: and Ali ar.
rears or such dividends so cumulated ana
interest thereon as herein provided. must he
PAID before dividends can be paid ON the
son stock. The preferred stock shall
not oe entitled however to participate in
any other additional earnings, dividends or
pronts. The right OF the holder OF nre.
lerred stock to be credited with dividends
snail commence from the date OF actual pay
The board of directors shall have the
.ignt and option Of retiring the preferred
'tock 10 whole or In part at any time. and
rom time to time-after one year from
hundred and fifteen dollars 1siiS oop U Oar
mare In addition to the cumulated diyi.
ENDS and interest thereon, as hereipaboye
rovided for. Such retirement shall he at
ne ne n option OF the board of directors and
urplus funds: and In no case shall sncs
referred stock be retired under circnm.
tances as would produce an impairment
the capital stock Of this corporation. the
ltstanding common stock to be then worth ii
less than par. Such retirement or re.
smption Of preferred stock can onIv he
lected on thirty days previous notice in
ritins TO the holders Of preferred stock Of ,
cord. after drawing BY lot, in the pres.