The herald. [volume] (New Orleans, La.) 1905-1953, 1916-10-12

below the City of New Orleans, consisting OF
nine 90 plantations, with lands IN the rear,
! adjacent thereto, comprising III all upwards
Of twenty thousand ,2D,OUl acres; 10 acquire.
lease and oHn property, both real and per
| SOuJl, and 10 sell, mortgage or pledge the
same; 10 engage IN the cultivation OF orange,
| grape fruit, corn, vegetables, TCc, sugar
cane and other fruits and agricultural pro-
ducts; % establish own and operate one or
more central sugar factories and renncr'eS;
rice mills, ice, canning or other factories and
20 buy and sell the raw and finished pro-
ducts thereof; TO raise live stock; 90 carry
ON general stores IN connection with lis bust
ness; to construct, operate. purchase or lease
railroads Tor the Transportation OF the Pro
ducts Of It's lands. and nt products generally
9" and from is factory or factories, ar for
other purposes. 90 build canals Tor trduSppr-
, tatlpu or drainage, and, where used for trans
portajIou, to charge tolls on same, q build
| wharvCS, docks, ways, vessels, machine shops,
, and 90 build and operate dredEcS, whether
tor eNcdyaung canals or sand oE smells LOT
ballast for roads railroads; 20 construct
, ! and operate drainage plants; 10 acquire and
hold stock, and bonds M other corporations;
to cplonIze. develop and improve its lands and
properties. 10 exchange as entire capital
stock, or any part thereof, t1T property
; which It i authorized To acquire, or to eN-
! change It's entire business and properties, OF
any part thereof. for money, property, stocks,
bonds, or other obligations If other Cpmpd-
MES; ard generally To- make all contracts
with OF incidental 10 any Of the business
mentioned herein; and 10 do any and all
such acts and things may shall be
T. necessary. cUuvcnlcu; or proper 20 carry out
% said object, and purposes.
! Article IN.-Scction !. The capital stock
OF tins corporation - hereby liked at SIX
e hundred and ten thousand C>hluUOw} dol.
, lars divided into SIX thousand one hundred
n to,luD.- shares OF the par value Of one hun-
; dred dollars $4,000 dollars each, OF which
. two thousand t5UpO shares shall he first pre-
Tered stock. one hundred QOO shares shall
he second preferred stock, and four thousand
| t40Ol shares shall be common stock. Inc
! capital stock may be increased To the sum oi
; two million tS2,p",WOrD dollars, and such
/ | increase may be dppurtIOUed among the DIT,
Y ferent classes Of stock as the directors and
: stockholders may determine.
r Section 1.-The holders Of the first pre-
J. ferred stock shall he entitled to receive
!, when and As declared, from the surplus OF
: ,et prohts Of the expiration, dividends al
& the rate Of seven GC,) per cent per anuum
5 and no more. The dividends on said first
y preferrcd stock shall be cumulative and
> shall have preference and priority over The
n second preferred stock and the common
n stock. 50 that, at time, shall any dividend
e be declared, set apart for, or paid on thi
Il second preferred stock or on the common
5 stock, unless. at such time, all dividends OF
x the first preferred stock, the rate OF sever
y matured, shall have been declared and pai,
l. IN full. Should any iustaiimcnt Of dividend
&c on the said first preferred stock not h
Dr paid in whole or in part, the deficiency shall
II be paid before any dividend shall be de
Is clared upon the second preferred stock o
| upon the common STOCK.
&c Section 3.-The first preferred stock shal
N be subject to redemption, in whole or II
p part, at the end OF any corporate year, a
= par. and all accumulated dividends, wheihe
H. declared or not, unpaid thereon, at the cal
OF the board OF directors. Should less tha
ne the entire amount Of such hrst preterre
of stock be called for redemption. the funds
n be applied by the directors TO redemption
y, shall be applied to the outstanding frs
lg preferred stock pro rata, each first preferre
stockholder to have the same proportion q
Id fcrred stakeholder. Notice OF the redemI
es ton OF all any part OF the first preterre
~ stock shall be given by publication Tor te
days prior to the date at which redempto
is TO become effective, in a daily newspapt
IS, published in the city OF New Orleans, an
of likewise by notice mailed to each registere
We holder Of first preferred stock, at his la
he known post office address. Upon call I,
lis redemption being made, and the mony nee,
IS, ed for redemption being set aside, all rlgh
OF the first preferred stock 50 called for r
dcmption 10 dividends, to share in 4
net profits, shall cease after the redemptiC
ew date
Section 4-The holders Of the second pr
ferred stock shall he entitled to preferen,
ne | and priority over the common stock of u
liy | corporation, and shall be entitled to reCeiv
id | when and as declared, dividends III each al
w. every year, at the rate of seven 1fol p
cd cent per annum, and no more. Dividends
nv the said second preferred stock shall be c
- mulative, that. at time shall any div
dend be declared, set apart for, or paid
dividends on the first and second pr
NJ. ferred stock, at the rate of seven Gf
per cent per annum, which shall have m
si tured, shall have been declared and paid
full. Should any installment of dividends
Law the said second preferred stock not be pa
Of in whole or in part, the deficiency shall
md paid before any dividend shall be declar
the upon the common stock.
red Section s.-Whenever all OF the first pi
yer, ferred stock shall have been redeemed
Or. above provided in Section 3, then, the 81
ned ond preferred stock shall be subject to
the demption, in whole or in part, at the end
Ter any corporate year, at par, and all accuT
the lated dividends, whether declared or n
nto unpaid thereon, at the call of the board
ate amount of such second preferred stock
ms, called for redemption the funds to appli
by by the directors to redemption, shall
yes, applied TO the outstanding second PREFER
IRE. stock. pro.rata, each second preferred stoe
1rm holder TO have the same proportion of
cor holdings retired as each other second p
'ses ferred stockholder. Notice of the redemptl
ons of all any part of the second PREFER
stock shall be given by publication for |
ON. days prior to the date at which redempti
ON is to become effective, in a daily ,newspal
,ity published in the city of New Orleans, a
of likewise by notice mailed 10 each register
the holder of second preferred stock, at his i
au- known post office address. Upon call for
the demption being made, and the money need
the for redemption being set aside, all rgl
led of the second preferred stock so called
and redemption to dividends, or to a share IN
ilch net prohts, ShaIl cease AFTER the reueHlptl
the date.
old, Section ON the event of any liquidat
1ge, or dissolution winding up, whether volt
real tary or involuntary, of this corporation,
and holders of the first preferred stock shall
any paid in full, by preference over the seco
ces, preferred stockholders and common sto
ecu holders, the par value Of their shares, tOget
and with all accumulated unpaid dividends,
Their the rate of seven GGo) per cent per amt
rec TO date Of payment, appropriation for p
and ment under said liquidation, dissolution
ire; winding up; and after such payment in {
ues to the first preferred stockholders, the no
lent ers of the second preferred stock shall
be paid in full, by preference over the comm
nge stockholders, the par value of their shar
and together with all unpaid accrued dividends,
nee the rate Of seven Gqo) per cent per amt
pur- | to date of payment, or appropriation Tor p
ment under said liquidation, dissolution
pro- winding up After such payment in full
of the holders of the first and second prefer
nee, stock, the holders of the common stock sf
the be entitled TO receive the remaining ass
-eof Of the corporation, in proportion to the sha
of held by them respectively.
usi. Section NO dividends shall be decla
to or paid on the common stock until at lie
tiles seventy (70To) of the first preferred ST
rove shall have been redeemed and retired.
cling Section 8.-The whole or any part of
stock Of this corporation may be issued
II delivered TO any person, firm or corporate
4 for the acquisition of the rights, privileI
III property, business or good will, any
thereof, owned and controlled by such
son, firm or corporation, or for merchant
corporation. The board Of directors herr
after created is specially authorized TO IS
and dispose of the stock, for any and
purposes above stated ~ in its judgn