The herald. [volume] (New Orleans, La.) 1905-1953, 1918-01-24
CHARTERS.


ton shall be in the City of New Orleans,
State OF louisiana, and all citation and other
legal process shall be served upon the Pres
, ,uen. Oh SAID corporation, or in his absence
upon any one of the Vice-President thereof
or IN the absence of said officers, upon the
Secretary of said corporation.
Article lll.-The objects and purposes for
wnieh TINS corporation is organized and es-
taolshed and the nature of the business to
be: ~
10 conduct general insurance agency
business, to solicit insurance of all kinds,
either on salary or commission; to act as
insurance engineers; to act as agent and
manager for resident and nonresident ins,,r-
ance companies, associations Or combinations
OF persons of all kinds; to inspect Insurance
rlsks' to adjust insurance losses and gen.
eral average; to do general stock broker
age and commission business; to buy and
otherwlse dispose OF, own and deal in stocks
ponds, mortgages, debentures, trust receipts
commercial papers, consols, and government
securities, either for itself or as the agent
factor or representative of any person firm
or corporation, and upon commission or other
wise TO transact general real estate agency
ana brokerage business, including the man
agement OF estates; to buy, sell let lease
hire, own demise or generally deal and
trade IN real estate, whether improved or
unlmproved, either as principal or agent for
us account or for account of others, and
upon commission or otherwise; to borrow
money and grant mortgages, bond mortgages
or notes therefor; TO lend money and TO re-
ceive therefor mortgages bonds, or any other
evidence OF indebtedness; to carry on any
other business which under the law il NAV
be entitled TO carry on or which NAV seem
10 the corporation to be calculated directly
or indirectly TO effectua,e the aforesaid OBJ
lects, or either of them, or TO facilitate it
IN the transaction of its aforesaid business
or businesses, or any part thereof or in the
transaction of any other lawful business
that may be calculated directly or indirectly
TO enhance the value of 10 render profit
able any of the company's properties and
rights and generally TO have and exercise
all such powers and privileges as are in
cidental or relate to the objects and pur-
poses hereinabove set forth, or as may be
necessary, useful convenient for effecting
said objects and purposes.
Article IV.-The Capital Stock of this cor
poraton is hereby fixed at the sum of
Thirty Thousand Dollars (S50,OOO0O), divided
into and represented by Three Hundred (3OO)
Hundred Dollars $4,000 each, Two Hundred
goo shares of which said stock shall be
known as Preferred Stock, and One Hundred
SlOJ) shares OF which said stock shall be
tlnct certificates shall be issued for each
class OF stock. Said stock shall be paid for
IN cash at such time, in such amounts, and
after such notice to the subscribers as may
be liked by the Board of Directors, and the
same may be issued at not less than par for
labor done or property actually received by
the corporation. Preferential dividends shall
be paid on the Preferred Stock at the rate
dividend payment omitted or passed, either
in whole or in part, shall be paid in full
before the Common Stock shall receive any
dividends. The Board of Directors may at
Preferred Stock, but not until dividends 20
at least Twenty-Five Per Cent. (25Go) per
annum shall have been declared on the
Common Stock. The Preferred Stock shall
case whatsoever. The Board of Directors
may at the end of any fiscal year, set
aside from the net earnings or profits of this |
corporation for said year such proportion
net earnings or profits to be placed to the |
credit of what shall be known as the "Com. |
mon Stock Surplus Account" The Board Of
Directors may, however, in its discretion, |
at the end Of any fiscal year, place any part
Or portion of said net earnings or profits, not
exceeding One-half thereof, in what shall |
be known the Preferred Stock Surplus |
Account" If the business of the corporation |
at the end of any fiscal year shows loss
Tor said year. then and in that event the |
Board of Directors may, in its discretion, |
charge the whole any part or portion of |
said loss to the said Preferred Stock Sur
plus Account"
The Board of Directors may, at any time,
call and retire the whole or any part of the |
Preferred Stock of this corporation by paying |
TO the holder or holders thereof the full par |
value thereof together with the dividends on |
said Preferred Stock in full up to the date |
Of the retirement, including any dividends |
passed, in whole or in part. plus whatever
interest said Preferred Stock so called and |
Sis c may have in and to said Preferred
year up to the date of the call and retire.
nent of any Or all of said Preferred Stock, |
hen and in that event there shall be charged /
2 whatever interest said retired Preferred
Surplus Account such proportion of any
such loss as said retired Preferred Stock
bears to the then issued and outstanding Pre-
erred Stock of the corporation.
In the event part only of said Preferred
Stock is retired, the Board of Directors shall
iave the right, power and authority by reso-
ution to designate the specific shares Of
tock which ii desires to retire. Notice of
he retirement of any designated share or
hares of Preferred Stock shall be given to
ice deposited in the, Post-Ofice of the City
4 New Orleans, postage prepaid, properly
addressed to the particular owner or owners
hereof at his or their last known residence
r place of business Preferred Stock which
as been called and retired may be again
e-issued, but never for less than its par
alue.
In the event of any liquidation or disso-
ltion or winding up. of the corporation.
RS. of the Preferred Stock shall be paid in
all the par value of their shares, together
nth all cumulated dividends thereon at the
ate of Six per Cent (69o) per annum to the
ate of said liquidation, plus whatever sum
r sums may be to the credit of the "Pre-
erred Stock Surplus Account" and after !
ayment to the holders of the Preferred
took of its par value with said cumulated {
lvidends and whatever sum or sums may
e to the credit of said Preferred Stock /
urplus Account" the remaining assets and
inds OF the corporation shall be divided
nong and paid to the holders of the Com. |