The herald., 1918-10-31
CHARTERS

May, 1904, and amended by act before III,
undersigned Notary. February 10Th. 1913, ha,
been changed. altered and amended to rca,
IN Us entirety as follows:
ARTICLE IN.-The capital stock of thi.
cooperation Is hereby fixed at 100000. di
vided into four thousand shares (+gn O,
the par value OF $1,000 each OF the shares
authorized fifteen hundred G5pW shares shall
be preferred stock and twenty five hundred
$500 shares shall be common stock Each
| share OF the common and preferred stock
shall be entitled to one vote IN person OF
! by proxy a. all meetings OF Stockholders,
! HE terms, conditions, limitations and DO.
| visions upon which said preferred stock j.,
| issued are these: The holders thereof shall
| he entitled 10 receive out Of the net profits
/ fixed cumulative dividend Of eight Der
I cent per annum the 18th day of Fehru-
! airy OF each year and the par value Of said
| preferred stock, with cumulative s per cent
/ dividends, and SIX per cent interest on ar
| rears from the time they become due, shall
| be paid IN fall ont % the assets OF The com
| pdny IN preference to the common stock IN
| the event OF any liquidation OF the Company
whether through insolvency or the tcrmiua-
| non 81 us corporate existence or any other
! causes, before any distribution Of CAPITAL
! shall be made to the holders Of the common
| stock The preferred stock. however. shall
| not De entitled 70 participate in any other
| or additional earnings or profit Until the
| preferred stock has been retired no dividend
shall be declared on the common stock. un-
/ II all dividends and interest due on the
! preferred stock have been actually paid ard
unless there Is earned during the preyiuu,
! fiscal year twice the amount of such diy,-
| dcnd exclusive OF all dividends paid on the
| preferred stock during the fiscal year Five
| years after It's issuance the company may
retire any or all Of the preferred stock
| by payment OF the par value thereof. and
accumulated dividends including a pro rata
| Of the dividend for the current wear and m
| terest on dividends in arrears If any, be due
and shall retire the same BY making 4 Ike
/ payment. on sixty WGJ days written demand
being made on the Company to do so bv any
holder Of the preferred stock The company
shall have the right to retire any or all Of
the preferred stock, at any time, before five
above and q bonus OF 10 per cent on the par
value Of such stock. The preferred stock
shall cease to earn dividends and interest
from the day designated by the Company for
the retirement Of such stock.
ARTICLE N.-All the corporate powers Of
SAID corporation shall be vested in and excr-
cised by the Board Of Directors, TO be com
posed OF ten stockholders. 70 be elected an
nually on the first Monday in May Of each
year, except it be a holiday, then on the
next succeeding day not holiday, without
the tormallty OF notice OF meeting to stock
holders. All such elections shall be by bal
lot and conducted at the office of said cor
poratlon between the hours OF eleven o'clock
A. NJ, and three o'clock p. NJ, under the
supervision Of three commissioners, who
shall be directors and appointed by the
Board OF Directors. Each share of the
common and preferred stock shall be EMIT.
led to one vote to be cast in person or by
proxy and a majority Of the votes cast shall
elect. said commissioners shall make their
returns in writing 10 the secretary of the
company on the day of the election, or the
following day, and upon receipt of said
return the secretary shall notify the ten
stockholders receiving the highest number
OF votes OF their election. The directors thus
elected shall meet on the second Monday in
May following, at ten o'clock A. NJ, elect
officers and transact business. Any va
cancy occurring among the directors by
death, resignation or otherwise, shall be fill
ed by election for the remainder of the term
OF the board by the remaining directors A
failure to elect directors on the date above
specified shall not dissolve the corporation,
but the directors then in office shall remain
in the office until their successors are elect
ed and qualified Five directors shall con
stitute quorum for the transaction OF bust
ness The Board Of Directors shall at their
tIrst meeting after each election, elect from
their own number a president a vce-presi-
and treasurer and fix their salaries. The
Board OF Directors shall have the power
either to combine separate the office of
secretary and treasurer and elect a person
not director to fill one OF said offices
Said Board Of Directors may appoint from
time to time such superintendent officers.
clerks or agents and other employees as
they may deem necessary for the purpose
and business OF said corporation, who shall
hold office at the pleasure OF the Board
No employee shall be employed for a longer
period than one month without special reso-
luton OF the Board Of Directors. Said Board
shall have tull power and authority to &C
quire or sell property, real, personal or
mixed and secure the same by mortgage or
pledge, issue bonds, notes or other obiga-
tons Tor borrowed money or other indebted
aud IL
pledge and generally to do all things reason
able and necessary for the proper carry
ing on Of the business of the corporation |
Each Director shall have authority to ap- |
stakeholder TO represent him at all meetings !
OF the Board. And the said appearers more
over declared that IN consequence of the |
foregoing and pursuant TO the authority in |
them vested by the stockholders OF said |
Company, they do hereby formally declare |
publicly and make known that in the man |
ner prescribed by law and agreeably to the |
provisions OF the charter of the said Inter |
state Electric Company, passed before Joseph |
Lautenschlaeger, Notary Public, has been |
changed. altered and amended as hereinabove |
set forth and written, and they do hereby |
direct and require that the above stated |
changes and amendments of the charter of |
the Interstate Electric Company be recorded |
and published in the manner prescribed by
law, to the end that the said changes and |
amendments hereafter and at all times be
as herelnabove set forth, as regards all per-
sons that are now or may hereafter become
of the aforesaid Company
Thus done and passed at my office, in
the City of New Orleans, on the day, month
and year herein first above written in the
presence of A. A. Hebert and T. O. Tugel
witnesses, who hereunto sign
their names with the said appearers and me,
Notary, after a reading of the whole Wit
nesses: A. A. Hebert, T. o. Tugel (Ori-
ylnal Signed P. Stern, President; Sam
Hellman. Secretary Treasurer. A. A. MO
RENO, Notary Public.
l, the undersigned, Recorder of Mortgages,
Louisiana, do hereby certify that the Act of
amendment of the charter of the Interstate
Electric Company was this day duly recorded
n my office in Book l222 Folio US. New
orleans, July %, 1918. EMILE J. LEON
ARD, ID. X.
A true copy, A. A MORENO. Notary
Public
Oct 10-17-24-51, Nov. ia.