The herald., 1916-03-30
AMENDMENT TO CHARTER

State Of Louisiana, Parish Of Orleans.
| lie IT known, that on this 18th day Of Feb
Tuary' 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
| misSioned and qualified, in and for this par
| lsh and state, therein residing, and in the
presence Of the witnesses hereinafter named
and undersgned
Personally came and appeared Nugent r
Warm, OF the full age Of majority and a res
| ldent 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 SeCretary-treaSurcr OF said Ivory Garter
Co, 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
me othce OF the said company m the city Of
New Orleans on the 18th day Of February
lplo. at o'clock p. m, which resolutions
adopted and provided for the amendment
Of the charter Of the said company by pro-
viding for the creating Of a 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 20 appear be
fore notary public 10 put said changes and
amendments Of record in authentic form, and
a copy Of the minutes Of said meeting and
a copy OF the said resolutions duly 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 c. Soniat.
notary public, the 10Th day Of August
l9l5' and duly recorded in the mortgage Of
rice Of the parish Of Orleans in book lll9,
folio 7, and with the Secretary Of State on
October 6, 1918, in Record Of Charters" No
81 toIi1 =. and Of the amended charters
OF the Ivory Garter Company executed before
Cuthbert :. Baldwin, notary public, the
End day OF February, 1916, and on the 9Th
day Of February, 1916. respectively. and both
duly recorded in the mortgage office Of the
parish Of Orleans in book ll95, folios i4l and
~ respectively, be and the same are hereby
altered and amended 10 read as follows, to-
Article IV.-The capital stock of this cor.
poration is hereby fixed at one hundred
fifty thousand dollars $4,000. Of which one
hundred thousand dollars $4,000 shall be
common common stock. and fifty thousand dollars
stock. which said one hundred thousand dol
lars tSlpWO Of common stock shall be paid
for as follows. to-wit: by the surrender Of
the present capital stock Of twenty thousand
dollars $1,000, and by eighty thousand dol
lars $4,000 now on deposit with the com.
pa1v: and which said seven per cent pre-
ferred stock shall be paid for at once; ard
which capital stock shall consist Of 1000
shares Of 500 each Of common stock, and so
shares Of 500 each Of seven per cen; pre-
ferred stock
This corporation shall be going concern
when and ss soon as one hundred thousand
dollars $4,000 Of the common stock shall ,
have been paid for and issued, as above Sc,
forth.
The seven per cent preferred stock shall BE-
entitled 70 receive 4 quarterly dividead Of
one and 7 40 per cent, payable out Of
the net profits Of the company upon the first
legal day in April, July, October and lsnu.
airy 81 each year, prior to the holders OF the
common stock receiving any dividend upon
their common stock holdings. This seven
per cent "a dividend. payable quarterly, on
the seven per cent preferred stock shall be
cumulative.
Dividends for 1915 upon the seven per cent
preferred stock shall accrue from the date
said stock is issued by the company.
When the net profits in any one year end
ing 7lst OF December, derived from the man
ufacrure and sale Of the products Of the com
oarv in that wear, computed after the De
1ucti5n from the earnings II the seven per
cent dividend on the cumulative preferred
stock. and all other charges whatsoever, in
GLIDING advertising. but not including divi-
bends on common stock, shall amount 70 the
sums below set forth, the seven per cent pre-