The herald., 1918-08-29
CHARTER
AMENDMENT TO THE CHARTER OF
THE PAN-AMERICAN FURNITURE
FACTORY INC

| United States Of America, State OF Louis
lana. Parish OF Orleans, City OF New
Orleans:
Be it known that on this ,wenty-sixth day
Of the month Of July, in the year OF our
| Lord, One Thousand Nine Hundred and
Eighteen. and of the Independence Of the
| United States OF America, the one hundred
and forty-thIrd:
Before me. Theodore A. Schuber, a Notary
! IuDuc. in and for the Parish Of Orleans,
! State of Louisiana. duly commits ioned, sworn
and qualified, and therein residing, and IN
] the presence OF the witnesses hereinafter
named and undersigned; personally came and
| appeared: Mr. Albert {. Jacobs, and Charles
! T. Levy. both Of lawful age and residents
| u This City and State, and herein appearing
! IN their respective capacities OF Presidenl
| and Secretary Of The Pau-Amercan Furul-
| tu-e Factory, Inc, corporation organized
by act before the undersigned Notary Pub
| lie. on February 5th, Die and recorded IN
NJ. o. y. lly5 folio IA.
Which SAID appearers declared that pur-
| suaut 10 resolution adopted by the stock
holders OF said c7-por4t'on' passed at a
! stockholders meeting held on the 10Th day
u July 1918 q certified copy Of the minutes
! OF which meeting Is hereto annexed and made
| a part hereof said meeting having been
! convened for The purpose recitei IN said
| resolution. and IN accordance with the char
-r, and the provisions OF the law. the fol
! lowing changes and amendments were
made in the original charter executed before
I y
day Of February, 1910.
ATTIC lie IlI-Ihe capital stock # this
corporation Is hereby fixed al the sum OF
Seventy Thousand Dollars lT1UIOOl, Thirty
Five Thousand Dollars CSS5GOOD, 10 be
represented 10y three hundred and fifty
shares OF preferred stock, OF the par value
Of One Hundred dollars (SIOOOO each. and
;hirty-five thousand dollars (S35.00OrD, -
De represented by three hundred and fifty
shares Of common stock 81 the par value Of
l. Hs.4
- be payable az such times, and in such in
StallmcntS, and under such conditions the
Board Of Directors may determine. Said
stock shall be paid for in cash, or in prop
sr;y actually received by the corporation.
The capital stock Of this corporation may be
increased 10 the SuT OF One Hundred Thou
sand dollars (SlO0GOOO. This corporation
shall be going concern as soon as the sum
Of Ihirty-fiye thousand dollars C55,ooOOU
has been subscribed for and paid in.
The other conditions, limitations and pro
Visions under which the preferred stock
shall be issued, are hereafter enumerated:
The holders Of preferred stock shall be
entitled TO receive out OF the net profits OF
The corporation, fixed dividend OF seven
Nto) per cent. per annum. payable semi
annually, tOwlt: on the first day of Janu-
airy and July. of each year, before any divi-
dend can be paid or set aside on or for the
common stock for the period Heretofore
elapsed The principal or par value OF said
preferred stock, with cumulative dividends
thereon at seven per cent per annum from
the date dividend should have been paid
shall be paid in full out of the assets OF the
company. in preference TO any Of the common
stock. in the event of liquidation of this
corporation from any cause, and before any
d Stri button can be made of the caDital
among the holders OF the common stock
The dividends upon the preferred stock are
TO be cumulative, and bear per cent inter
est from their maturity date as herein pro-
vided compounded annually, so that if for
DeTInN nPr1OdS hR al dTt-fla r,1z
not paid the right thereto shall cumulate
against the common stock: and all arrears
OF such dividends so accumulated and interest
thereon as herein provided must be paid
before dividends be paid on the common
stock. The preferred stock shall not be
entitled, however, TO participate in any other
earnings, dividends or profits. The right
of the holders of preferred stock 70 be cred.
tied with dividends shall commence from
the data of actual payment of such stock.
The Board of Directors shall have the right
and option Of retiring the preferred stock
IN whole or in part. at any time, and from
time to time, after five years from the date
OF this charter, at a price of One Hundred
and Ten Dollars (Sll0OO per share. in addi-
tion to the cumulated dividends and interest
thereon, if any, as hereinabove provided for
Such retirement shall be at the option OF
the Board Of Directors. and shall be effected
by payment out of the surplus funds; and
in no cause shall such preferred stock be
retired under circumstances would produce
corporation, the outstanding common stock
to be then worth no less than par Such
retirement or redemption of preferred stock
can only be effected on thirty days previous
notice in writing TO the holders of preferred
stock Of record. after drawing by lot in the
presence OF the Board of Directors Upon
such notice, all dividends, interests and ar.
rears shall cease with respect TO ssch re-
tired stock.
Preferred stock shall enjoy no voting DOW.
er; and no holders owners of preferred
stock shall be entitled to any vote with
respect to such preferred stock, or in any
OF the affairs Of this coropration, or meet.
ings OF the stockholders or directors thereof
or otherwise.
The whole Of the above will more fully an
pear by the annexed certified copy OF the
minutes Of said stockholders meeting
The said appearers having requested ne
Notary, to put said amendments in au,hen
tic form. do. by these presents receive said
amendments IN the form of this public act
TO the end that the said amendments NAV
DE promulgated and recorded. and thus read
IN the original charter passed before me
5th, 1916
Thus done and passed in my office, in the
City OF New Orleans, La, on the date herein
above first written. in the presence of Mes
srs. Edgar NJ. Calm. and Irwin Thomas
competent witnesses. who hereunto sign their
names, together with the said appearers and
me; Notary. after due reading Of the whole
Witnesses: Edgar NJ. Calm, Irwin Thomas
Original signed)
A. {. Jacobs. Pres. Chas r. Lew. Sectv
THEODORE A. SCHUBER,
Notary Public
|. the undersigned. Recorder of Mortgages
IN and for the Parish of Orleans. State Of
louisiana, do hereby certify that the above
and foregoing Amendment to the charter Of
The Pan American Furniture Factory. Inc
was tins day recorded in my office, in Book
New Orleans, July -. 1913
tSigne0 EMILE J. LEONARD, D. R.
A true copy OF the original
(SeaD
THEODORE A. SCHUBER.
Notary Public