The herald. [volume] (New Orleans, La.) 1905-1953, 1913-04-03
February 20, 1918.
AMENnEn CHARTER

UNITED STATES OF AMERICA, STATE
OF LOUISIANA, CITY OF NEW OR
LEANS, PARISH OF ORLEANS.
Be 1t known, that on this twentieth day
OF the month of February in the year OF
our Lord one thousand nine hundred and
thirteen and of the independence OF the
United States of America the one hundred
and thirty-seventh, before me. Arthur A.
Moreno, a notary public, duly commissioned
and qualified, in and for this city and the
parish Of Orleans, therein residing, and in
the presence Of the witnesses hereinafter
named and undersigned, personally came
and appeared: Percival Stern and Samuel
Hellman, who declared that at a general
meeting OF the stockholders Of the Inter
alton organized by an act passed before
Joseph Lautenschlaeger, notary public, on
May /, 1904, held at the office Of the said
Interstate Electric Company, Limited, on
the 18th day OF February: 1913, they were
elected respectively president and score
tary OF the said stockholders meeting, as
will appear by a certified copy of the min
utes of the said meeting annexed hereto for
greater reference. And that the said Fer
cival Stern as president and the said Sam
uel Hellman as secretary OF the said stock
holders meeting We're authorized and en-
powered TO appear before me for the pur-
pose of amending the said charter of the
Interstate Electric Company, Limited.
And the said appearers, as president and
as secretary respectively Of the said stock
holders meeting and acting in said capaci-
ties and on behalf of said corporation by
virtue OF the authority conferred upon them
at the general meeting of said stockholders,
declared that the charter Of the said Inter
state Electric Company, Limited. passed be-
fore Joseph Lautenschlager, notary public,
on the first day OF May, 1904, has been
changed, altered and amended TO read In its
ARTICLE I.
The name, style and title OF this cOrpOr-
alton shall be the Interstate Electric Com
pany." and under said corporate name II
shall have authority 10 enjoy succession for
the term OF ninety years from and after
the date hereof: 10 contract, sue and be
sued: to hold, receive, lease, purchase and
convey, as well as mortgage and hypothe-
cate, under its corporate name, all kinds
of property. real, personal or mixed; 10
name and appoint such directors officers,
managers agents and employees as the bus
mess interest and convenience OF said cor
pOratiOn may require, and TO make and
establish, as well as alter and amend, from
time to time, such bylaws, rules and reg
ulatiOns for the proper government OF the
essary and proper: and to have and use a
corporate seal, and the same to break and
alter at pleasure.
ARTICLE II.
The dOmicile Of said corporation shall be
In the city of New Orleans, state OF Douisi-
ana. and all citations or other legal process
shall be served upon the president Of said
corporation or in the event of his absence
event of the absence OF both Of said officers
upon the second yice-president, and in the
event of the absence of the three said OH
GERS, upon the secretary and treasurer Of
said corporation.
ARTICLE III.
The objects and purpose for which this
corporation Is established, and the nature
Of the business to be carried on by 1t are
declared to be the purchase and sale OF
electrical appliances, tools, machines, sun
dries, and objects of whatever nature and
kind whatsoever used where electricity,
steam or other motive power Is employed (;
TO do a general electrical and construction
business. and 10 these ends TO purchase. use,
lease. mortgage, pledge or otherwise acquire
or sell real or personal property; to operate
and construct electrical, steam plants or
other plants, and generally to do all acts
and to enter into all contracts that may be
necessary. convenient or appropriate in the
accomplishment Of the aforesaid purposes
TO represent Others, as agents or otherwise,
in the same or similar lines OF business
TO act as manufacturers agents and TO re-
ceive goods on consignment and dispose OF
same on commission or otherwise.
ARTICLE ".
The capital stock of this corporation is
hereby fixed at three hundred, twenty-five
thousand dollars, divided into thirty-twO
hundred and fifty shares of the par value
Of one hundred dollars each. Said corpora
ton shall become going concern as soon
as one hundred and twenty-five thousand
dollars of its capital stock shall have been
subscribed for.
Each share Of the common and preferred
stock shall be entitled TO one vote in per-
son or by proxy at all meetings OF stock
holders.
OF the shares authorized seven hundred
and fifty shares shall be preferred stock,
all TO be now issued. and not 10 be in
creased as hereinafter provided. and twenty
five hundred shares shall be common stock.
The terms, conditions, limitations and
uh fnak
Is issued are these:
% The holders thereof shall be entitled
to receive out Of the net profits a fixed div
idend at the rate of ten per cent per annum
on the 18th day Of February of each year,
before any dividend can be set apart or
paid on the common stock for the period
Heretofore elapsed, and the principal or par
value of said preferred stock and ten per
cent premium thereon, with cumulated 10
per cent dividends, and six per cent inter-
est on arrears from the time they become
due. shall be paid in full out of the assets
of the company in preference to the COM
mon stock in the event of any liquidation Of
the company, whether through insolvency or
the termination OF its corporate existence
or any other cause before any distribution
of capital shall be made to the holders OF
the common stock. The dividends on the
preferred stock are to be cumulative and
bear six per cent interest on arrears from
the time they become due, as herein pro-
vided so that II for any period or periods
Iut are uOI pau, TlSuI thereto
shall cumulate as against the common stock
and all arrears thereof so cumulated and
interest thereon as herein provided for must
be paid before dividends can be paid on the
common stock. Such preferred stock, how
ever, shall not be entitled to participate in
any other or additional earnings or profit
Until the preferred stock has been retired
the dividends on common stock in one year
shall not exceed twenty thousand dollars,
and no dividend shall be declared on the
common stock the payment OF which will
reduce the surplus below the amount shown
accountant on April /. 1913. Beginning
April /, 1915. there shall be annually re-
tired twenty-five thousand dollars of the
preferred stock at the price fixed in this
charter, or else there shall be added annu-
ally to the surplus as shown by the state
ment of April /. 1913, the sum OF twenty
five thousand dollars until March 81, 1918,
and until such preferred stock to the extent
OF twenty-five thousand dollars has been
retired each year, or the surplus has been
increased each year TO the extent of twenty
five thousand dollars, no dividend shall be
declared on the common stock.
(2) No additional mortgage shall be
placed upon the real estate of the company
in the parish of Orleans, or shall said real
estate be sold unless the consent of seven
eighths Of the preferred stock shall have
been first obtained in writing.
OBJ The salaries Of the officers of the
company shall not be increased unless the
consent of seven-eighths of the preferred
stock shall have been first obtained in writ
ing.
(4) The preferred stock shall not here
after be increased beyond the amount of
seventy-fve thousand dollars.
(5) The company shall have the option
Of retiring preferred stock In whole or in
part at any time and from time to time