The herald. [volume] (New Orleans, La.) 1905-1953, 1916-06-22

1 preferred
| II Iess ih,r ali = the n-efe-red class "R"
| stock then outstanding IS to be redeemed.
he hoard Of directors Shall determine by lot,
leeg-rd \ lis. Shall be prepared Of the
/ holders pt the class p preferred stock,
/ and consecutive, numbers shall be noted op-
/ rr,,.r each u-Me Oh such list. according
/ ~..-lr. ls-- ra.h ,.arkl1,irr receiving one
! -g-.g,- .,~ each share standing ~ la, name.
| s., tHA: Che aggregate u@m'cr Of such con
| ,~-a..yr numbers will equal the number Of
| share, # 81 3 -.a., "B" preferred stock then
| 5u.-ta-i.u. From such consecutive mum
/ beg, there shall Dee drawn by 1t a. many
I'D ~. -rIrea.cd. and ,hr shares Shall be
| .a.,oi ig redemption from the ,''-khu.de',
| o. ni.w 'l, numbers drawn ~ lot were
| assigned % -ara l-t. Notice oI such -edrwT-
holder II class "R preferred stock from
] " haH any sHIrr or shares may sc thus
l called tn- redemption - least thirty day,
| r-lar g the redemption date.
| needed f1- su.t redemption being set aside.
| al Nights u the preferred CLOS, II shares
| 50 called Tor redemption 70 dividends OF -
| "a share in tine net profits shall cease after
! The preferred clrS, "B' shares 50 called
! and redeemed ar redeemed pursuant 70 the
| provisions . Section 81 this article, shall.
! Re- cancelled and not again he issued
! 'Nts't'.| ~ " 4's..N E|lii'N lth~ tlttT E.lt
| end 90; each fiscal year. ant! all ;ac class
| "H" preferred stock shall have been retired.
| the board Of directors shall set aside in a
| exemption fund sum equivalent I, twenty.
avr ier cr"'u" &c, ni :hc net profits Of
such year. ate providing Tor the full dlvI-
bends on both cla>sc, Of preferred stock
whether declared 1~ not: provided, however,
'ha' II such twenty-five per crn'um esq
trci tlty dollars iS'S+ruW, the board Of
directors shall SET aside in such fund only
the sum u ;h..;y-three thousand four hun
i-ri ti.v dollar, ,Sf,f5G0W.
Such redemption fund shall he used ~ re
deem class r preferred stock in the man
ncr provided in the preceding Section Of th!S
Article.
Section : In the event OF any liquidation
NJ dissolution or Winding 10, whether vol
uu'ary or involuntary, Of this corporation
The holders II the class a. preferred stock
-hall he paid in full by preference over the
class b preferred Stockholders and common
stockholders the par value Of their shares
together with dividends n the rate Of seven
per ceutum Erl) per annum - date OF pay
~rut or appropriation for pavment un-
der said liquidation, 4 dissolution or wind
iuE up; and after such payment in full
# the class a preferred stockholders. the
holders Of the class ~ pref. red stock
common Stockholders the par value Of their
shares. together with dividends az the rate
II seven per ccn,um GCD per annum q
date OF payuen, ,r app-sprittIou for pay.
men, under sad Huuldt,lon, dissolution or
winding up. Alter such payment in full 10
the holders Of the class A. and class RI"
preferred stocks, the holders Of the common
stock shall be entitled 10 receive the rr-
naming assets and funds in proportion 10
the shares held ~ them Respectively
Section g. All payments Of dividends upon
sand preferred elias, "A" and class II" stock
shall be without deduction Tor any tax OF
take, which BY any present or future laws
Of the United States, or of the State Of
Louiolana OF any parish or municipality
said dividend for national, state, municipal !
or other purposes: said corporation hereby |
agreeing to pay sch tax or taxes which /: |
may now or hereafter be required by any
such law TO pay or 10 retain thereform
Section .. HE whole of the preferred and
common stock OF this corporation, or any
part thereof. may be ,,>ucd and delivered to !
any person, firm or corporation for the aCqUi- |
business or goodwill, or any part thereof. |
twucd and controlled bv such person nrm
ur cooperation, also IN payment, settlement |
and adjustment OF the costs. fees. charges, |
expenses and commissions incurred for ser |
vice, rendered III the formation and organ |
flt'lpn OF thu, corporation and IN acquiring |
and bring about the purchase Of the property |
and rights Aforesaid: also Tor cash In |
single payment or in instruments Of such |
amounts a. the board OF directors may de- |
tcru.uc. also Tor merchandise received Or for |
service, actually rendered TO this corpora |
ton
The board Of directors hereinafter created /
Is specially authorized to issue and dispose |
ii the stock for any and all purposes above |
stated As IN is Judgment may seem lair and !
proper.
Article k.-Sectiyu l. All the powers OF I
tins corporation shall be vested III and cNcr-
clscl by d board Of directors OF not more
Khan uycnty-cIght t2Sl and not less than |
seven a. directors. each 81 whom shall own
m h, own right al least one full paid and !
uuplrdgcd share OF the capital stock In
intervals between meetings OF the board Of
directors, all the powers Of this corporation
shall be vested IN and exercised by an exec.
utlve committee of not less than five direc- |
tor, to be appointed by the board OF direc-
tors The number OF directors within said
limits and the number required t. constitute
a quorum OF the board shall he fixed from
lime 70 time BY the bylaws. Said board Of
directors shall be elected annually bv ballot
Al a Stockholders, meeting called Tor that
purpose at the office Of the corporation on |
the first legal day Of May OF each year,
after due notice given to the stockholders A
Jy mail az least nftcen DAYS before the date
II SAID meeting. Except as hereinafter pro. /
gdcd. the SAID director, shall sc divided |
INTO two classes: the FIRST class shall consist
# a majority Of the number of the board |
Il directors a. fixed by the bylaws and
shall be elected annually hv a majority vgte
II the holders of class "A" and class "B" |
preferred stock present or represented AT the
meeting: second Class shall rnrsisT Of tbs
balance of the number of directors as fixed !
- the bylaws. and shall be elected by a
majority vote # the holders Of the common
stock present or represented at the meeting. |
but all OF the said directors. as so elected |
shall have equal and coordinate rights and
bowers As directors Of the corporation. not
y outstanding the manner and form OF their