The herald. [volume] (New Orleans, La.) 1905-1953, 1915-07-29
June IS, 1915.
AMENDMENT TO CHARTER

!
United States Of America, State of louisiana
farish OF Orleans, City OF New Orleans
De IL known, that on this eighteenth DAY
OF the month of June, in the year of our Lore
one thousand nine hundred and fifteen, and
OF the Independence OF the United States OF
America the one hundred and thirty-nintb
before me, Rolla A. TIchenor, a notary pub.
nc, duly commissioned and qualified in and
Tor the city OF New Orleans, state OF Louisi.
ana, ard IN the presence of the witnesses
| hereinafter named and undersigned, person.
any came and appeared, Clarence y. Wilcox
, OF the city OF New Orleans, and OF full age
OF majority, who declared: That acting in
has capacity as president of the Wilcox Mer.
canthe agency, corporation dOmicIled in the
city OF New Orleans, state of Louisiana, and
created under the laws OF the state OF Louisi.
ana, by act OF Incorporation passed before
| Frank Edward RaInold, late a notary public
OF TINS city, under date of May 9, 1914. reg.
lsteTed M. .. b. ll27, folio A., and recorded
with the secretary OF state, in book, Record
| OF charters No. 81, folio -, on the 18th day
! OF June, 1914, he does by these presents set
torth' place OF record, enact and declare: That
| at a special meeting OF the stockholders of
said Wilcox Mercantile Agency, held at its
| othce IN this city, resolutions were unani-
| mously adopted, amending Article ~ of the
act OF incorporation of said company, to read
Article IV.-"The capital stock of this cor.
poratlon is hereby fixed at the sum of twenty
hve thousand dollars, C25,0OOOO), divided into
and represented by two hundred and fifty
q
! dollars $4,000 each. This company shall
have the right to commence business and be
| going concern when fifteen thousand dollars
SlS,OOoOO shall have been subscribed for
All stock subscribed for shall be paid for in
cash or property received upon such terms and
conditions as the board of directors shall pre-
scribe"
The. capital stock shall be divided into pre-
terred stock and common stock. The pre-
ferred stock shall be thirty shares of the par
value OF one hundred dollars $4,000 each
and the common stock shall be two hundred
twenty eco shares of the par value of one
hundred dollars $4,000 each.
The holders OF the preferred stock shall
Subject to the call and retirement thereof
as hereinafter stated be entitled to receive
when and as declared from the surplus or net
prohts OF the corporation, yearly, cash divi-
dends at the rate of eight per cent 500 per
annum, and no more, payable annually on
date to be fixed by the board of directors
The dividends on the preferred stock shall
be cumulative, and shall be payable before
any dividend on common stock shall be paid
or set apart SO that if in any year dividends
as aforesaid shall not have been paid on pre-
feTred stock, the deficiency shall be payable
before any dividend shall be paid or set apart
for the common stock. Whenever all cumu.
lative dividends upon the preferred stock for
all previous years shall have been declared
and shall have become payable, and the divi-
dends thereon for the then current year shall
have been declared, and the company shall
have paid all such dividends for previous
years and for the then current year, or shall
have set aside from its surplus or net profits a
sum sufficient for the payment thereof, the
board of directors may declare dividends on
the common stock payable thereafter out o.
the remaining or net profits. Under proper
circumstances stock dividends may be de-
clared but only to and for the benefit of
common stockholders"
The preferred stock shall be first lien upon
all of the property of the corporation, both
real and personal and if the dividends on the
preferred stock hereinafter sDeci6ed are NOT