The herald. [volume] (New Orleans, La.) 1905-1953, 1918-08-01
CHARTER
AMENDMENT TO THE CHARTER OF
THE PAN-AMERICAN FURNITURE
FACTORY. INC.
[ ai;ed States OF America, State OF LOUIS
lana. Parish Of Orleans, City OF New
Orleans:

]
/ lana, Parish Of Orleans, City OF New
/ Orleans:
| BE i; known that on ;hi, twenty sixth day
! - The month II July. IN the year 81 our
/ Lord. One thousand Nine Hundred and
/ Eighteen. and Of the Independence Of the
/ United States Of America. the one hundred
! and f1rty-thiri:
BEFORE me. Theodore 4 Schuber. Notary
! Public. IN and f0- the Parish Of Orleans.
State Of Louisiana. daily c,mml ssloned, sworn
and qualified, and therein residing. and N
/ the presence Of the Witnesses hereinafter
| named and undersigned. personally came and
! Appeared. Mr. Albert {. Jacobs. ard Charles
! p. Levy. both Of LAWFUL age. and residents
! of th,s City and State, and herein appearing
/ IN their respective capacities o. freS. den;
| and Secretary Of The Pa1-Aucrlcan Furni-
/ tu-e Factory. Inc, corporation organized
/ By act before the unders gued Notary Pub
/ lie. on February Sth, 1916, and recorded IN
| NJ o. r. Il25. folio Ia.
| Which SAID appearcrs declared that pur-
| suan; 70 a resolution adopted by the stock
| holders 0f said corporation, passed al a
| Stockholders meeting held on the 2oth day
u iuiy 1918, a certified copy OF the minutes
Of which meeting is hereto annexed and made
part hereof. said meeting having been
| convened for the purpose Teclted IN SAID
resolution, and IA accordance with the char
ter. and the provisions ii the law. the fol
lowing changes and amendments were
made IN the original charter executed before
the undersigned Notary Pa5lic. on the 5.h
day Of February. 1915.
ARTICLE uI-The capital stock Of ,hls
csrp'rat9n i hereby fixed a. the sun OF
Seventy Thousand Dollars tNOpnpD. Thirty
Five Thousand Dollars l$S5.C0pu, % be
represented ny three hundred and fifty
-E1~es u preferred stock. % The par value
Of One Hundred dollars $4,000 each and
thirty five thousand dollars iSSS.ulrU, -
hr represented BY three hundred and fifty
shares Of common stock Of the par value pi
one hundred dollars $4,000 each. said stock
O. 1c payable AZ such times. and IN such IN
sediments. and under such conditions a. the
Board Of Directors may determine. SAID
stock shall he paid for IN cash. or m prop
crty actually received by the corporation.
The capital stock Of this corporation may he
increased 20 the sun. Of one Hundred Thou
sand dollars lSlO0Or0Ol. This corporation
shall he going concern - soon a. the sum
OF ThIrty-fIve thousand dollars tS55,UDOuOl
has been subscribed for and paid in
The other conditions. limitations and pro
vtions under which the preferred stock
shall be issued, hereafter enumerated:
The holders Of preferred stock shall be
entitled to receive out Of the net profits OF
the corporation. a fixed dividend of seven
Gco) per cent. per annum. payable semi
annually, tO-wit: on the first day of Ianu-
airy and July, Of each year, before any divi-
dend csa 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 az seven per cent per dnnum from
the date dividend should have been paid.
shall he paid in full ont OF the assets o! the
company. IN preference 10 any Of the common
stock. IN the event Of liquidation Of this
corporation from any cause. and before any
distribution can be made OF the capital
among the holders OF the common stock
The dividends upon the preferred stock are
10 be cumulative, and bear 8 per cent inter
est from their maturity date as herein pro.
yided. compounded annually so that, IT, for
any period. or periods the said dividends are
he oh 81 al Il,
against the common stock: and all arrears
Of such dividends accumulated and interest
thereon as herein provided must. be paid
before dividends can he paid on the common
stock. The preferred stock shall not he
entitled, however. 10 participate in any other
earnings, dividends or profits The right
OF the holders Of preferred stock 10 he cred.
tied with dividends shall commence from
the data OF actual payment Of such stock
The Board Of Directors shall have the righ;
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 TINS charter, al a price OF One Hundred
and Ten Dollars tSll0OO per share in addi-
ton to the cumulated dividends and interest
thereon, II any, as heTeinabOve 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 as would produce
an impairment of the capital stock Of this
4
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 such re-
tired stock
Preferred stock shall enjoy no voting DOW.
er; and no holders or 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
or otherwise.
The whole of the above will more fully ap
pear by the annexed certified copy OF the
minutes of said stockholders meeting
The said appearers having requested me
Notary, to put said amendments in authen
TIC form, do. by these presents. receive said
anne ailments in the form of this public act
to the end that the said amendments may
oe 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 IF Mes.
srs. Edgar NJ. Calm, and Irwin Thomas
competent witnesses. who hereunto sign their
names, together with the said appearers and
me, Notary, after a due reading of the whole
Witnesses: Edgar VI, Calm, Irwin Thomas
Original signed
A. C. Jacobs. Pres. Chas r. Levy, Secty.
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 this day recorded in my office, in Book
1922, folio -
New Orleans, July -. 1918.
(Signed) EMILE J. LEONARD, ID. R.
true copy of the original
THEODORE A. SCHUBER.
Notary Public
AMENDMENT To CHARTER OF John N