The herald. [volume] (New Orleans, La.) 1905-1953, 1913-02-27
February 20. 1913.
AMENDED CHARTER

BE II known. that on this twentieth Oh!
of the month OF February In the year OF
orr Lord one thousand nine hundred and
thirteen and of the independence OF 'he
United States of America the one nuhureu
and thirty-seventh. before me. Arthur a:
Moreno a notary public, duly commissioner
and qualified in and for this city and the
parish Of Orleans, therein residing, ana III
The presence Of the witnesses hereinafter
named and undersigned, personally came
and appeared: PcrCival Stern ana Samuei
Upllman who declared that az a general
meeting of the stockholders OF the inter
state Electric Company, Limited. corpor-
alton organized by an act passed before
Joseph InutenschacGer. notary public on
NAV l. 1904 held at the Office OF the Sald
Interstate Electric Company Limited on
the 18th day OF February, 1913, they were
elected respectively president ana SecrN-
tary of the said stockholders meeting. as
will appear by a certified copy OF the MN
utes of the said meeting annexed hereto ior
greater reference. And That the sara Ter
cIyal Stern as president and the said sam
mel UpIman as secretary of the said stock
holders meeting were authorized ana en-
powered 10 appear before me for the pur-
pose Of amending the said charter OF the
Interstate Electric Company. Limited.
And the said appearers, as president ana
as secretary respectively or the said stock-
holders meeting and acting in SAID capacl-
ties and on behalf Of said corporation Dy
virtue of the authority conferred upon them
al the general meeting of said stockholders.
declared that the charter of the said inter
state Electric Company, Limited passed De
fore Joseph Iautenschlager, notary public,
on the first day of May, 1904 has been
changed. altered and amended TO read In It's
entirety as follows:
The name. style and title Of this corpor-
alton shall he the Interstate Electric com
pany," and under said corporate name II
shall have authority 10 enjoy succession TOT
the term Of ninety years from and atter
the date hereof; to contract, sue and be
sued: to hold. receive, lease, purchase ana
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 or said cor,
poratiOn may require. and to make ana
establish as well alter and amend from
time TO time such bylaws, rules and reg
ulations for the proper government or the
affairs of said corporation as may be nee
essary and proper and to have and use a
corporate SEAL and the same to break ana
alter at pleasure.
The dOmclle of said corporation shall be
in the city OF New Orleans, state OF Louisi'
ana and all citations other legal process
shall he served upon the president OF said
corporation or In the event or his absence
upon the vlce-president thereof, and In the
event of the absence OF both OF said ofncers
upon the second vice-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 II 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 to these ends to purchase use,
v.lnl A.. NhnR urt5a irl
or sell real or personal property; to operate
and construct electrical, steam plants or
other plants. and generally 10 do all acts
and TO enter into all contracts that may be
necessary, convenient or appropriate In the
accomplishment of the Aforesaid purposes
20 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 Il
hereby fixed at three hundred, twenty-five
thousand dollars, divided into thirty
hundred and fifty shares Of the par value
Of one hundred dollars each. Said corpora
tion shall become going concern as SCOT
one hundred and twenty-five thousand
dollars OF its capital stock shall have beer
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
or the shares authorized seven hundred
and fifty shares shall be preferred stock
all TO be now issued, and not TO be in
creased as hereinafter provided, and twenty
five hundred shares shall be common stock
The terms, conditions, limitations anC
provisions upon which said preferred stOcl
Is issued are these: o..
% The holders thereof shall be entitled
to receive out of the net profits a fixed div
ldend 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 OF
paid on the common stock for the period
Heretofore elapsed, and the principal or pal
value of said preferred stock and ten pei
cent premium thereon, with cumulated II
per cent dividends and six per cent inter
est on arrears from the time they becom,
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 o
the company, whether through insolvency o.
the termination of Its corporate existenc,
or any other cause before any distribution
OF capital shall be made TO the holders o
the common stock. The dividends on tn
preferred stock are to be cumulative an,
bear six per cent interest on arrears iron
the time they become due, as herein pro
vided, so that " for any period or period
the same are not paid the right theret
shall cumulate as against the common stocl
and all arrears thereof 50 cumulated an
interest thereon as herein provided for mus
be paid before dividends can be paid on tn
common stock. Such preferred stock how
ever, shall not be entitled to participate Il
any other or additional earnings or profit
Until the preferred stock has been retire
the dividends on common stock I'm one yea
shall not exceed twenty thousand dollars
and no dividend shall be declared on III
common stock the payment OF which wi
reduce the surplus below the amount show
by the statement 10 be prepared by publ
accountant on April l. 1913 Bevinnin
April i, 1915, there shall be annually r,
tired twenty-five thousand dollars of IN
preferred stock at the price fixed in hi
| charter, or else there shall be added ann,
any TO the surplus as shown by the stat,
meat or April l, 1913, the sum OF twent,
nve thousand dollars until March 81. lgIi
aud until such preferred stock to the exter
or twenty-five thousand dollars has bee
retired each year, or the surplus has bee
increased each year TO the extent of twent'
I'VE thousand dollars, no dividend shall /
declared on the common stock
t2l No additional mortgage shall
placed upon the real estate of the compar
In the parish Of Orleans or shall said re,
estate be sold unless the consent of seyel
eighths of the preferred stock shall ha,
been first obtained in writing
(3l The salaries Of the officers of Il
company shall not he increased ur,ess n
consent OF seven-eighths of the PREFER,
ing.
(4) The preferred stock shall not her
after be increased beyond the amount ,
seventy-hve thousand dollars.
(5) The company shall have the OPTIC
Of retiring preferred stock in whole or
part at any time and from time to tin
and II shall be obligatory on it TO retiI
the same not later than February IS, 1911!
at premium OF 10 per cent, or at the priC
OF $1,000 per share cash, In addition
the cumulated dividends and interest Their
on as herein provided for Such retiremer