The herald., 1917-06-28
ACT OF AMENDMENT


CHARTER OF p II. GARCIA, INC.
United States Of America. State OF Louisi.
ana, Parish Of Orleans, City OF New
Orleans.
BE it known, that on this 9th day OF the
mo1th Of June, in the year 1917. before me,
Scott E. Beer. Notary Public in and for the
Parish of Orleans, State of Louisiana, there
in residing, duly. sworn, commissioned and
qualified and in the presence OF the wit
aesseS hereinafter named and unders gned:
Personally came and appeared: P. IL:
Garcia, president of p H. Garcia, Inc and
Camille Livaudais, secretary and treasurer
pf p. II. Garcia, Inc, who declared that
acting by virtue OF and pursuant 10 a Teso-
luton Of the stockholders of the p. H.
Garcia, Inc, adopted on this 9th day Of
holders Of the said p. II. Garcia, Inc, called
for the purpose of proposing amendment
10 the charter OF the said corporation, all of
the stockholders OF the said corporation
being present and all notices OF every kind
being waived, they do by these presents, in
order to carry into effect the said resolution,
a certified copy of when is hereunto an
neNed for reference. declare that the Article
" of the charter OF the p. II. Garcia, Inc,
shall be amended TO read as follows:
Article IV.-The amount of the capital
stock Of this corporation is hereby fxeG at
the sum Oi thirty-hve thousand dollars
ls35.00OD, which shall be divided into three
hundred and fifty shares $3.50 of the par
which two hundred shares (1Oo) amounting
to the sum Of twenty thousand dollars
tS20.GO shall be common stock issued on
the terms and conditions hereinafter set out,
and one hundred and fifty, $50 shares
amounting 10 the sum OF fifteen thousand
dollars (Sl5,O00) shall be preferred stock,
issued on the terms and conditions herein
after set ont.
corporation shall be subscribed for before
the filing Of these articles OF Incorporation
and Fifty per cent OF the said subscription
twenty-five per cent OF the total capita!l
shall be paid for before this corporation shall
engage in business. All OF the stock CUB
scribed shall be paid for either in money
or property received or Tabor done for the
said corporation, al such time; the board
Of directors may determine.
The amount to which the capital stock Of
this corporation may be increased shall be
fifty thousand (s5ONN dollars common and
nifty thousand dollars $4,000 preferred.
No transfer OF stock shall be binding on
Ibis company unless made upon the books of
the company. and no sale other disposal
Of the stock shall be valid unless first offered
to the remaining stockholders Of this com
pany for ten days at price not to exceed
the book value thereof al the date of the
said offer. After this offer and the lapse
Of ten days. If the offer is not accepted, the
stock may I've sold by the owner thereof al
will. All stock acquired in this corpora
ton shall be subject TO the provisions OF
The holders OF the preferred stock shall
be entitled TO receive in respect 10 such
preferred stock. as and when declared by the
board Of directors from the net earnings and
profits of this corporation, semi annual div
idends at the rate Of four per cent $50
which dividends shall be cumulative.
At no time shall any dividends be de-
clared, set apart or paid upon the common
stock unless at such time all cumulative
dividends on the preferred stock due and
,,Dnaid shall have been maid or prOyiied for
After ;here has been declared, set part and
paid upon the preferred stock. the semi an
nual dividend OF four per cent (4Fo) cumu-
lative above provided for, there shall he
declared in respect 10 the common stock.
by the directors from the net earnings and
profits Of the corporation, semi annual div
dendS # the rate Of four per cent C4oC), or
so much as possible up 20 four per cent
llCc); and If after the payment OF the semi
annual four per cent cumulative dividends on
the preferred stock and the payment OF the
semi annual four per cent go on the COM
mon stock there Is sufficient net prohts and
earnings 20 declare any further dividend, a
dividend shall he declared equally on the
preferred and the common stock
The preferred stock shall he entitled 70 no
preference over the common stock IN the
event - liquidation Of this company except
as rrga-ds such cumulative dividends as
nav hc due and unpaid on saIi preferred
.f..L no % 'r~ F1'r - sai dissolution.
TIE preferred ari common stock shall have
.r. voting prs~-s a. an Corporate meetings
Us f-r "a pas,,l o. nv o@e, on hi,
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