The herald. [volume] (New Orleans, La.) 1905-1953, 1915-07-22
June Is, 1915.
AMENDMENT TO CHARTER

United States of America, State of Louisiana,
Parish OF Orleans, City OF New Orleans.
BE II known, that this eighteenth day
OF the month of june, in the year OF our Lord
one thousand nine hundred and fifteen, and
OF the independence of the United States of
America the one hundred and thirty ninth,
before me, Rolla A. Tichenor, a notary pub
lie, duly commits and qualified, in and
for the city of New Orleans, state of Louisi-
ana, and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared, Clarence o. Wilcox,
OF the city OF New Orleans, and OF full age
of majority, who declared: That acting in
his capacity as president of the Wilcox Mer-
camille Agency, a corporation dOmIcied in the
city OF New Orleans, state of Louisiana, and
created under the laws OF the state of Louis-
ana, by act OF Incorporation passed before
Frank Edward RainOld, late 4 notary public
of this city, under date of Nav y, 1914 reg
istered NJ. .. Is. ll27, folio AZ, and recorded
with the secretary of state, in book, Record
of Charters No. 81, folio -, the 18th day
of June, 1914, he does by these presents set
forth, place of record enact and declare: That
at a special meeting OF the stockholders of
said Wilcox Mercantile Agency, held at its
office in this city, resolutions were unanl-
mously adopted, amending Article " Of the
act of incorporation Of said company, to read
as follows:
Article IV-"The capital stock of this cor.
poration is hereby fixed at the sum of twenty
tve thousand dollars, CS25,0OO0O), divided into
and represented by two hundred and fifty
(25O shares of the par value of one hundred
dollars $4,000 each. This company shall
have the right 70 commence business and be
a going concern when fifteen thousand dollars
(Sl5,0Ou00) shall have been subscribed for.
All stock subscribed for shall be paid for in
cash or property received upon such terms and
conditions the board of directors shall pre-
scribe"
The capital stock shall be divided into pre-
| ferred 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 (220) 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
profits of the corporation, yearly, cash divi-
| dends at the rate of eight per cent $50 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-
| ferred 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 divl-
| dends thereon for the then current year shall
have been declared, and the company shall
| have paid all such dividends for previous
| years and Tor the then current year, OF SNAIL
| have set aside from its surplus or net prohts
sum sufficient for the payment thereof, the
| board of directors may declare dividends on
the common stock payable thereafter out o.
| the remaining net profits. Under proper
circumstances stock dividends may be de.
clared but only to and for the beneht 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 specified are not
paid for a period of three years, the owner or
| owners of said stock shall be entitled to fore
close said lien and dissolve the said corpora
ton and upon such dissolution recover the
par value of such stock and cumulative divi'
dends.
The amount of preferred stock shall never
be increased except by the unanimous consent
of all of the holders and owners OF SAID pre-
ferred stock.
In the event of the liquidation or dissoiu
ton or winding up whether voluntary OF IN
voluntary of the corporation the preferred
stock shall be entitled to be paid in full, ootn
the par value of their shares and unpaid
i dividends accrued thereon before any amoun'
shall be paid to the holders OF common stocs
and after payment to the holders OF the pre-
ferred stock of its par value and the unpaie
accrued dividends thereon, the remaining az
sets shall be divided and paid to the holders
of common stock pro rata according TO thei'
respective shares.
Each and every certificate OF preferred stoct
N shall be subject to redemption and may a
the option of the directors on any annua
dividend date after the year 1916 be callet
and retired at the price OF one hundred ane
two dollars (S102O0) for each share and .h'
amount of dividends accrued and unpaid
the date of redemption.
"Notice of intention to call and retire an,
| certificate shall be given to the holders there
of ten days before the annual dividend du.
! date at which the same Is 10 be retired. Suei