The herald. [volume] (New Orleans, La.) 1905-1953, 1914-06-25

4
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Ieeula,iitons log the proper manasementt OF
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O.. -..h authorized capital stock. Two hun.
died and uf.y ~r.r.- i,r,-.--..-., o., ,.,..--,,..
.v, ,,.r..-f f.Ir.r, .Sr-u.d. .T.rr I 49,,
-r,r,G stock and seven r.r-,f-rf arI 49,,
shares. amounting u, sc,,rrv.rvc tr 'u.a,.4
dollars ,s-5.sw. Shall be common stock.
M, laLGr-, Of rhr rrrrcrr,f stock sail he
,r.rf.,l q. receive yyl,,, and rs l..,aref IN,
tie. -..-r'g, r- ,-,r rr.r.. 81 ,n. ...-r.4--,,,r.
v-..rr. Div .drrt, ~ HI. rgr, If cen ,r ,r-
r,.- ,rrr~, II her rrr.r r.v,Ir. nv, -. =, H..
determined hy The board Of i,-,c,a-s Tie
dividend, ON The preferred stock. T., The cx.
ten. of sever, rrr cent rcr arr.,r y rc- COM,
AMI ID, r..-I shall I. ,,rr,,,l ~. g-t an ~
Ia,.rrr Icta-e a~v dividend on he cIrr,,,,--
,rurL Snail be maid or ser AMI So lb,, =, ;r
any wear dividends amounting 10 : me- rr-,f
SHAH not have been paid on SAID rrcfeTrcd
stock. the drtcicucv Shall be uavabie bef..~r
ary dividends shall be raid or SET ar,rt f,-
The ,,-nnnn s-o,k 1f''' ~
Whenever all cumulative dividend. on tho
preferred stock for ali prevrors yea-s sr.l
have become paysbIc. and the rauyparv sbgii
have paI3 such cumulative dividcrAs H. ne.
vilr,s ye3-.. or SHALL have Set gsIFa fr|-, ne
srf~r,Irs o- rrt r-|fts So, s,,aS~;.,.
the PAYMENT thereof the board of d,rfc.ars
NAV then declare dividends on the com.
mon stock, PAYABLE then or thereafter. out
Of the remaining ,vrpIus or net nrorts
Each share Of common, stock ShslI e,,itl.
the owner thereof. either i'm rcrson ar Inv
proxy 10 cast one vote At ali meetings ~
stockholders. bur the rrrre-rrd s,.rL Shall
In the event OF any liquidation or disso-
luton or winding up lwhcthcr voluntary or
involuntary OF the company. the holders Of
the preferred stock shall be entitled ia he
paid in ful both the mar amount Of tLe,-
shares and the unnaii dividends so,r,,ad
thereon before any amount shall he naid -
the holders Of the common stock. buf afrc-
PAYMENT to the holders Of the preferred stool
IF lis par value and the unpaid accrued divi
bends thereon. the remaining assets and
funds shall be divided and paid to the hold.
ers of the common stock according 10 their
respective shares
Certificates of stock shall he signed nv the
president and secretary-treasureT. and This
corporation shall become a going concern
when three thousand dollars 5S3GO of ;ts
rapItal stock has been suLsc-ihrd for
10 transfer Of STOCK shall he biriigs, ,,nor
the corporation. unless said transfer has hen
made upon the books Of the corporation: nor
shall any stakeholder pIedge or bvnotbccate
his stock without first attaining The ner,,is
sion Of the board Of directors. nor shall INV
stakeholder be permitted TO sell his stock
without first offering same tn the co-no-atio,,
for sale at its book value. said offer to be in