The herald. [volume] (New Orleans, La.) 1905-1953, 1918-08-22
AMENDMENT TO CHARTER OF
MENGE MARINE HARDWARE &
SUPPLY CO, INC.

Parish Of O-lean, City Of New Orleans
Be it known. that on this 2+,h day of the
thousand nine hundred and eighteen. and Of
the Independence Of United States of Ameri-
ca, the one hundred and iorty-ihird;
Before ne, Henry p. Dart, IT., Notary
Public, duly commissioned and qualified in
and tor this City and the Parish OF Orleans
/ therein residing, and IN the presence II the
witnesses hereinafter and undersigned,
personally came and appeared, the persons
whose names are hereinafter subscribed who
declared that they are all Of age and resi-
dents Of the City Of New Orleans, and stock.
holders 81 the Menge Marine Hardware &
supply Company. Inc. and such stock.
entire capital stock Of the said corporation
issued and outstanding, viz: Two Hundred
shares OF the par value OF One Hundred Dol
lars (SlOOO each, amounting to A total of
twenty Thousand Dollars (S30UOOOl
That meeting of the stockholders Of the
said corporation was daily held at the office
OF the same in New Orleans, on the Path
day OF July, 1918
Tha, a; The said meeting the said stock.
holders added amendments - the charter
thereof. making certain changes and altera-
tions in the same.
That appearers have come before me. No.
tary Public, - preserve and embody in due
legal shape the said action Of the Stockh6ld.
erS as will appear from a certified copy of
the resolutions adopted at the said meeting
annexed to this act.
under the laws Of the State of Louisiana. BY
act before George Janvier a Notary Public,
duly eommi STONED and qualified in and for
the City Of New Orleans and Parish of
Orleans, on December 10Th, 1914. recorded in
the Mortgage Office Of the Parish Of Orleans
in book ll27. folio 90
And the said appearers accordingly declare
that they have appeared before me Notary
Public, under the authorization Aforesaid for
the purpose Of e,nbOdyiug in proper and au-
thentic shape the action Of the said meeting
OF the stockholders Of the Menge Marine
Hardware & Supply Company, Inc
And the said apoearers say and declare that
at the meeting Of the stockholders aforesaid.
the charter Of the Menge Marine Hardware
& Supply Company, Inc. was changed, al
tered. amended and modified 50 as 10 read
hereinafter set out.
That the following articles are to be
amended 10 read rs follows:
ARTICLE III.-The object and purposes
for which this corporation is organized and
established and the nature of the business TO
be carried on by it, are hereby declared to
be, to engage IN a general furnishing and
supply business. as principal and agent,
IN hardware, ship chandlery, paints, railways,
mill supplies, supplies OF merchandise, food.
refreshments and stiTulents for ships to
engage in the business Of selling goods,
wares. products and merchandise. as prin-
clpal or on commission, or both. and 10 act
as general selling agents; to import and ex-
port goods, wares, produce and merchandise
OF every description and kind. and particu-
I.
for the selling on commission or otherwise OF
said goods, wares and products; to engage in
general furnishing and supply business as
principal and as agent, in hardware. ship
chandlery, paint, railways, mill supplies,
ship supplies and in connection Herewith,
to engage in general businesses at wholesale
and retail in all lines Of hardware and sup
plies for painters, mills. railways, ships and
all other things OF similar character, and
carry the business Of the corporation in
Louisiana and in all of the states Of the
United States, and foreign countries; and
generally to do and perform all things peril
nent and incident and which may be proper
and necessary 10 carry out and execute the
objects and purposes OF this corporation
ARTICLE As to be amended to read as
follows:
poration is hereby fixed at the sum
of Sixty Thousand Dollars (s6OOOOOW,
divided into and represented by Six Hun
dred shares Of the par value Of One Hun
shall be paid for in cash or in such install
ments and in such time and after such
tice to subscribers the Board of Directors
may fix; or the same may be issued at no
less than par for labor done, services per
formed for the said corporation, or for the
property or rights actually received by the
said corporation, the same may be issued
as dividend from the earnings of the
poration and may be accepted by the stock
holders after ratification at meeting duly
assembled by majority of them, in shares
of stock as full payment of the said diyi-
dend. The capital stock may, after a meet
ing duly assembled. be increased to One
Hundred Thousand Dollars (SlOOCOOW.
All transfers Of shares of the capital stock
Of this corporation shall be made and enter
ed on the stock book OF the corporation and
no transfers shall be in any manner binding
on this corporation, unless so entered
The capital stock of this corporation is is
sued and held under the irrevOcable agree
ment. contract and condition, that the hold
= Il. /
after issued and outstanding, may at all
times during the life of this charter acquire
and purchase the share shares held by the
minority stockholders or by any individual
holder thereof, at the price of One Hundred
Dollars $4,000 per share, to which shall
be added the pro rata share of the said stock
in the surplus account and undivided profit
account of the corporation, shown by the
last audit which shall be the book value of
the stock and the sole and only evidence to
be considered.
The surplus and undivided profits may be
kept in one or separate accounts.
The pro rata of each share OF stock shall
be estimated by dividing the total number
OF shares issued and outstanding, into the
balance 10 the credit of said account or &C
counts The thus ascertained plus the
sum of One Hundred Dollars $4,000 afore-
said, shall be the total value and price of the
said stock. All of which amounts shall be
payable to cash within thirty DAY. after
written notices of the exercise Of this privi-
lege.
The stock shall be taken and the books of
the corporation shall be audited as of Janu-
airy LIST, OF each year, and as possible
after the expiration Of said date.
No sale or transfer of stock shall be recog-
nized by the corporation unless and until, il
shall have been first offered in writing to
the corporation at the price aforesaid in the
preceding paragraph. for the use and bene-
fit of other stockholders who are hereby
granted the absolute first right and privilege
TO purchase the same at the price stated, and
to accept such shall be in writing and pay
therefor within thirty days after such offer
shall have been made
The right and the rights conferred in this
article of the charter shall follow the stock
into whatever hands it may go.
Failure OF the holder or possessor Of the
certificate of stock to produce or deliver the
same shall authorize the corporation 10 re-
ceive in trust the price hereof; to cancel
such outstanding certificates on the books of
the corporation, and issue new certificates
therefor. The stock so purchased shall be
divided among the remaining stockholders
as may be desired by them and in default
of agreement in proportion to their several
holdings, and upon payment of the price
thereof
This corporation shall be the agent of the
stockholders specially empowered through its
Board OF Directors TO enforce and carry out
all of the foregoing provisions regarding
stock in this corporation. The substance
of these provisions of the charter shall be
stated briefly and succicntly on the face of
each certificate of stock and shall be con-