The herald. [volume] (New Orleans, La.) 1905-1953, 1918-10-24
CHARTERS.

the amendment of this charter, in which
cases, the Preferred stock shall have a like
voting power as the common stock, that IT,,
one vote for each share of stock Q. The
! Board of Directors may at any ;iuc. ont Of
| the profits or earned surplus Of said bust
ness. retire all or any portion Of Class a
OF the preferred stock, selected and desig
mated by the Board OF Directors upon giving
10 the registered holder or holders thereof
| thirty 500 days written notice delivered On
| person or mailed to their address last given
/ 20 the corporation. which notice and delay
may be waived by any such st1ckholder
! and paying 10 the holders Of such stock So
| called in the par value thereof with all ac-
! cumulltcd dividends and the agreed diyi-
| deudS provided in this charter mp 10 the date
! OF the redemption OF said stock, after which
| the dividends said stock shall cease; p-1-
vided that if less than the whole OF said
| Class a Preferred stock Is retired each
pro rata thereof retired. To- All or any
portion Of the preferred stock redeemed may
| be re-iSsued by the Board Of Directors %
| such person or persons as said Board OF d.
! and SAID stock when 50 rc-lSSued shall have
| all the rights and privileges and shall be
| subject TO all the terms and conditions as
| the original stock; provided that none Of
| the preferred stock Of Class a" after be
| mig retired, may be re-1ssued except as
! Glass "B" preferred. whereupon it shall have
| all the rights and privileges, and be sub
| JeCt 20 all the terms and conditions Of Class
II preferred. j. J. he Board 81 Directors
may. after all Of the stock Of Class a. pre-
ferred has been retired. retire ont Of the
profits or earned surplus Of said business all
or any portion Of Class "B' OF the preferred
stock, pro rata according 10 the total amount
outstanding. whether original Reissue.
upon giving to the registered holder or hold
ers thereof thirty (5O} days written notice
delivered in person or mailed 10 their ad-
dress last given TO the corporation, which
notice and delay may be waived by any
"a ne
Of said stock called in the par value there
Of with all accumulated dividends and the
agreed dividends provided in this charter mp
to the date Of the redemption Of said stock.
after which the dividends on said stock shall
cease. r. No shares Of Class "B" Of pre-
ierred stock may be sold, assigned. or dis
posed Of by any holder thereof. without first
offering it in writing for thirty 800 DAYS 70
the corporation. at price not to exceed its
par value with all accumulated dividends and
the dividends herein provided up to the date
Of purchase; and any sale or other DISPOSE
tIOn. pledge or other encumbrauce of said
stock shall be made subject 10 this provision
Of the charter. Said corporation is hereby
authorized TO purchase the same out Of the
profits or earned surplus, and 20 reissue the
same for not less than par, and said stock
50 re-issued shall have all the rights and
privileges and be subject to all the terms
and conditions Of said class. If said cor
pOraton fails 10 exercise its rights 10 buy
in said stock within said period. the holder
thereof may make such other disposition OF
the stock as he desires. -. No share Of
Class b Of the common stock may be sold.
assigned or disposed of by any holder there
Of. without first offering il in writing for
thirty $50 days TO the corporation at a
price not to exceed the book value of said
stock at the date Of the last inventory, de
Quoting dividends included therein which
have already been paid. and adding interest
on said value at Six (6 per cent? per cent
per annum from said date up TO the date Of
purchase. Any sale or other disposition,
pledge or encumbrance of said stock shall be
made subject to this provision of the charter
said corporation is hereby authorized to pur-
chase said stock out Of the profits or earned
surplus, and to REISSUE same at not less
than the price for which purchased, and when
issued said stock shall have all the rights |
and privileges and be subject TO all the
terms and conditions of the stock of said
class. II said corporation fails to exercise |
its right TO buy in said stock within said |
period, the holder thereof may make such |
other disposition OF the stock he desires. |
Il. Should the holder of any of Glass "B" |
Of the common stock die. or should such hold |
er who Is at the time of the issue TO him of |
any such stock be at such time connected |
with the corporation as employee and such |
connection for any reason terminate or be |
terminated. the holders of said stock shall |
be required to sell his said common stock |
to the corporation at price not to exceed |
the book value OF said stock at the date of |
the last inventory, deducting dividends in |
Guided therein which have already been paid |
and adding interest said value at six /
70 per cent? per cent per annum from said |
date TO the date OF purchase; provided said |
corporation shall accept and pay for the said |
stock within thirty 800 days from the tender
thereof to the corporation by the estate of |
such deceased stakeholder or by the stock
holder whose connection with the corporation
has terminated after which said estate and |
said stakeholder shall be free to make such
other disposition OF the stock as the legal
representatives of such estate or as said |
fnrL hol Har hos
poration has terminated may desire IS
This corporation shall have the right to de.
crease its capital stock in the manner au-
thorized by law, and in such event to pay
OFT the retired stock from the capital and
surplus of the corporation in accordance with
law and subject to the provisions of this
charter. 10. Fifty per cent go per cent?
OF the total (Which need not, however. be of |
each classl OF the capital stock shall be sub
scribed before the filing of these articles of
Incorporation, and Fifty per cent go Der cent?
OF all stock subscribed for must be paid for
before the corporation engages in business,
and the remainder within Twelve Q2) months
hereafter; but all stock subscribed for NAV
be paid either in cash property actually
received by or labor done for the corpora.
ton IN accordance with law. In payment of
al! or any portion OF said stock. this corpo-
ration IS authorized to acquire and take over
any existing business, and this corporation
shall hereafter have the right to acquire any
existing business or property. and to issue
- SUN VI any portion thereof for the value
thereof in accordance with law II. The
capital stock of the corporation NAV be in
creased to Two Million Five Hundred Thou
sand (S2,SoO.OO00O Dollars, that is the pre-
ierred stock may be increased to Seven Hun
bred Fifty Thousand (S5O,OO0OO) Dollars, all
ot such increase in the preferred to be
LASS B. and the common stock TO One
Million Seven Hundred Fifty Thousand Dol.
lars (Sl,75OOC0OO), all of such increase in
The common to be Class "B" 49, Sepa-
rate stock books shall be kept for each of
said Classes of stock, and no transfer OF
stock shall be binding on this corporation.
Except when made upon its books by the
surrender of the outstanding certificate, and
is proper endorsement by the owner or his
constituted agent or legal representative.
AKlICLE VI All the powers of this ,
corporation shall be vested in and exercised
by a Board Of three directors. elected bv .
ne stockholders who are entitled 20 the
ioting power at the annual meeting which
hall be held the first Monday of DC =
ODER OF each year, with the right of such +
'tockholders to increase the number 70 not :
more than seven directors Each of the di
ectorS shall own at least one share of Com. | r
non stock in his own name The first an. {
lual meeting shall he held on the first Mon | ,
lay OF October 1919. until which time the 5
ificers and directors named in this charter t
halI continue 10 act, and until their sue o
essors are elected and qualified. At each /
nnual meeting of said stockholders. the said
tockholders shall elect as many of said di- I
ectors as they shall desire and should they o
leet less than seven, the directors shall