The herald. [volume] (New Orleans, La.) 1905-1953, 1918-10-17
AMENDED CHARTER OF THE INTER
STATE ELECTRIC COMPANY

United States Of America, State of Louis
lana, Parish of Orleans, City of New Or
leans. Be it known, That on this eleventh
day of the month of July in the year o.
our Lord one thousand nine hundred anC
eighteen and of the Independence of the
United States of America, the one hundred
and forty-second, before me, Arthur A. Mo
reno, a Notary Public, duly commissioned
and qualified, in and for this city and the
Parish of Orleans, therein residing, and il
the presence of the witnesses hereinafter
named and undersigned, personally came anc
appeared: Percival Stern and Samuel He'll
man, who declared that at general meeting
Of the stockholders of the Interstate Electric
Company, a corporation organized by ar
act passed before Joseph Lautenschlaeger
Notary Public, on May lst, 1904, and amend
Notary, February 10th, 1913, held at the of
flee of the said Interstate Electric Company
on the 18th day of July, 1918 they were
elected respectively president and secretary
of the said stockholders meeting, as will ap
pear by a certified copy of the minutes OF
said meeting annexed hereto for greater ref
erence. And that the said Percival Stern
as president and the said Samuel Hickman
as secretary of the said stockholders meet
ing were authorized and empowered to APP
pear before me for the purpose of amending
the said charter Of the Interstate Electric
Company. And the said appearers, as presi-
dent and as secretary respectively of the
said stockholders meeting and acting in
said capacities and on behalf of said cor.
poration by virtue of the authority conferred
upon them at the general meeting of said
stockholders, declared that Articles w and
of the charter of the said Interstate Elec-
trio Company, passed before Joseph Lauten-
schlaeger, Notary Public, on the first day Of
May, 1904. and amended by act before the
undersigned Notary, February 10th, 1913, has
been changed, altered and amended to read
in its entirety as follows:
ARTICLE IV.-The capital stock Of this
corporation is hereby fixed at $400.0OO.00. di-
vided into four thousand shares 5000, Of
the par value of $4,000 each. OF the shares
authorized fifteen hundred (l500) shares shall
be preferred stock and twenty-five hundred
(ISOO) shares shall be common stock. Each
share of the common and preferred stock
shall be entitled to one vote in person or
by proxy at all meetings of stockholders.
The terms, conditions, limitations and pro-
visions upon which said preferred stock is
issued are these: The holders thereof shall
be entitled to receive out of the net profits
a fixed cumulative dividend of eight per
cent per annum the 18th day of Febru-
airy OF each year and the par value of said
preferred stock, with cumulative per cent
dividends, and six per cent interest on ar
rears from the time they become due shall
be paid IN FULL out of the assets of the COM
pany in preference to the common stock in
the event OF any liquidation of the Company
whether through insolvency or the termina-
ton OF its 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 be entitled to 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-
III all DIVIDENDS and interest due on the
preferred stock have been actually paid and
unless there IS earned during the previous
fiscal year twice the amount of such divi-
dend exclusive of all dividends paid on the
preferred stock during the fiscal year Five
years after its issuance the companv nav
retire any or all of the preferred stock
by payment Of the par value thereof. and
accumulated dividends including a bro rata
OF the dividend for the current year and in
terest on dividends in arrears, if any. be due
and shall retire the same by making a like
payment, on sixty 900 days written demand
being made on the Company to do so by any
holder of the preferred stock. The company
shall have the right to retire any or all Of