The herald., 1916-03-02
AMENDMENT TO CHARTER
OF IVORY GARTER COMPANY


AMENDMENT TO CHARTER
OF IVORY GARTER COMPANY.
State of Louisiana. Parish of Orleans
he 1t known, that on this 18th day Of Feb.
ruary, IN the year OF our Lord one thousand
nine hundred sixteen. and Of the independ.
ence OF the United States Of America the
one hundred and fortieth before me- Cuth.
bert =. baldwin, notary public, duly COM
mlSSioned and qualified, in and for this par.
iSh and state, therein residing. and in the
presence Of the witnesses hereinafter named
and undersigned:
Personally came and appeared Nugent b.
Warm, of the full age Of majority and res
ident Of this city. and president of the Ivory
Garter Co, and Gustave y Baldwin also
OF the full age and a resident of this CITY
and sccretary-treasurer of said Ivory Garter
TO-. which said parties appear herein under
and by virtue of the authority in them vested
by resolution adopted by the Stockholders
OF the said Ivory Garter Company held at
the office of the said company in the city of
ylo, at / O'Clock p m, which resolutions
adopted and provided for the amendment
OF the charter of the said company bv pro.
yiding Tor the creating of n reserve fund
the paying OF dividends upon the common
stock, and the retiring of the preferred stock,
and authorized and instructed the said pres
ldent and secretary-treasurer TO appear be.
tore notary public 10 put said changes and
amendments of record in authentic form, and
copy OF the minutes of said meeting and
copy of the said resolutions dulv certified
by the secretary-treasurer is hereto annexed
and made part hereof. And the said ap-
bearers in their respective capacities declare
that in conformity with the said resolutions
and in the furtherance of their instructions.
Article ~ of the charter Of the Ivory Gar.
ter Company. executed before NJ. {. Soniat,
1913, and duly recorded in the mortgage of.
nee of the parish of Orleans in book ITO
folio I. and with the Secretary Of State on
October o. 1913 II, Record of Charters" No
Il
Of the Ivory Garter Company executed before
uthbert y. BALDWIN, notary public, on the
End day of February, 1916. and on the 7th
day OF February, 1910, respectively. and both
huly recorded IN the mortgage office of the
parish Of Orleans in book llo5, folios lao and
az. respectively, he nd the same are hereby
altered and amended % read as follows. to.
Article IV.-The capital stock Of this cor.
poration Is hereby fixed at one hundred
hfty thousand dollars CSlSOnO), OF which one
hundred thousand dollars (SlOOOOO) shall he
common stock, and fifty thousand dollars
'SSVoDl snail he seven per cent preferred
stock. which said one hundred thousand dol.
lars tSlnOOO) of common stock shall be paid
Tor as follows, to-wit: by the surrender of
me present capital stock of twenty thousand
dollars CSN.00), and by eighty thousand dol.
lars tSS,pOD now on deposit with the com.
nany and which said seven per cent nre.
terred stoc shall be paid for at once; and
winch capital stock shall consist Of 1000
ferred stock P'N
This corporation shall be going concern
and may continue operations and business
when and as soon as one hundred thousand
dollars Sl00,0OO) of the common stock shall
have been paid for and issued. as above set
The seven per cent preferred stock shall be
ehttied 10 receive quarterly dividead of
lne and u 0li) per cent. PAYABLE orr Of
the net profits Of the company upon the FIRST
legal day in April. july. October and Janu
lry OF each year prior to the holders Of the
heir common stock holdings. This seven
per cent % dividend. payable quarterly. ON
ne seven per cent preferred stock shall be
Dividends for 1916 upon the seven nor con,
preferred stock shall accrue from the date
aid stock is issued by the company
Nhen the net protts in any one wear end |
ng Slst OF December. derived from the man
,l ana sale OF the products of the COM
,any IN that year, computed after the de- |
iucuon from the earnings of the seven per
ent dividend the cumulative preferred
took, and all other charges whatsoever, in |
.uu,ns advertising, but not including divi. |
lends on common stock, shall amount 10 the |
umS below set forth. the seven per cent pre-. |
lends, follows:
When the net profits. shall aggregate twenty |
thousand $4,000 dollars to forty thousand |
SNpnl dollars the extra dividend shall be |
ne W. per cent; when the net profits shall |
ggregate forty thousand $4,000 dollars 10 /
iNty thousand $4,000 dollars the extra div.
1end Shall be two (2oS) per cent: when the |
ct prohts shall aggregate sixty thousand $50
Nd dollars 10 eighty thousand $50 gpO) dol.
'rs the extra dividend shall be three CSct)
er cent; when the net profits shall aggregate
ighty thousand (SsO.0OOl dollars TO one hun
red thousand (slOOoOO dollars the extra
ividend shall be four C4cc) per cent; when
le net prohts shall aggregate one hundred
louSand (SlW,Hol dollars, or more the extra
iridend shall he FIVE (50-) per cent.
beginning January ], 1919, the company
SreeS 70 set aside for special reserve fund
Of less than 5000 per annur. until .be
mount shall equal So. 900. for the redenn,;oT
the preferred stock at SIPS per share, which
nd reserve fund shall be invested in hiSh
'ade hrst mortgage bonds. The company
serves the right to retire all but no part
, the outstanding preferred stock on anv
ne after January |, 1919 at SIPS per share
ne common stock shall be entitled 70 ard
all receive, a dividend or dividends AZ
tal rate per cent equal to the total rate
r cent declared upon the preferred stock
Tor to the setting aside of any sum in said
serve fund.
Extra dividends upon the seven per cen.
eierred stock shall be payable upon the first
[ll day OF January Of the following wear |
thus done and passed. at nv Office in the ;
Y OF New Orleans, the day, month and
ar first above written. in the presence Of
ward Haspel and Greve St. lanes, connie. | {
It witnesses residing in this city, who
We hereunto signed their names with ap- q
lrers and me, notary, after due reading
the whole. Z