The herald. [volume] (New Orleans, La.) 1905-1953, 1918-10-17
CHARTERS.

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person ur mailed 9, ....~ address ...t give.
FOO TIE corporation. which r'i... AND Hr.HE
may De waived by any such -,.ea1'....r.
ami paying To- the hnlir-s n. -"r. $50. SD"
called i'm the pr value J1err.. with al .e
-uma'4tcl dividends and the agreed dIE.-
lcnd, provided in tli- charter up 80 the d.'e
Il the redemption OF said stock, after N1.sa
the dividends on said stock shall cease; I-..
yffcI that if less than the whole If said
Cla,, - Preferred stock is retired each
outstanding certificate shall nave the same
pro rata thereof retired. 10 All or any
norton Of the preferred stock redeemed may
he re-issued by the Board Of Directors to
such person or persons as said Board 81 d.
rectors shall determine for not less than par
and said stock when 50 re-lssued shall have
all the rights and privileges and shall be
subject TO ali the terms and conditions as
the original stock; provided that none OF
the preferred stock OF Class "A, after be-
ing retired may be re-isSued except as
Glass "B" preferred. whercup0n it shall have
all the rights and privileges, and he sub
iect 10 all the terms and conditions OF Glass
.'R" preferred H. The Board OF Directors
may, after all Of the stock of Class a pre-
icrred has been retired. retire ont OF ne
profits or earned surplus Of said business all
or any portion Of Glass "B' Of the preferred
stock, pro rata according 10 the total amount
outstanding, whether original or reissue.
upan giving 70 the registered holder or hold
crs thereof thirty C5O) days written notice
| delivered in person or mailed to their ad-
| dress last given TO the corporation. which
| notice and delay may be waived by any
such StOCkholder, and paving 10 the holders
d IL IL. r-1' fff.-
| Of with all accumulated dividends and the
| agreed dividends provided in this charter mp
| to the date Of the redemption Of said stock.
| after which the dividends on said stock shall
cease T. No shares of Class "B'' OF pre-
| ierred stock may be sold, assigned, or dis
! posed Of bv any holder thereof. without first
! offering il in writing for thirty 600 days 20
| the corporation, at 4 price not TO exceed ITS
| par value with all accumulated dividends and
the dividends herein provided mp to the date
| Of purchase: and any sale other dlspOsl-
ton. pledge or other encumbrance OF said
stock shall be made subject 10 this provision
| OF the charter. Said corporation Is hereby
| authorized to purchase the same out Of the
profits or earned surplus, and 10 reissue the
| same for not less than par, and said stock
| 50 re-issued shall have all the rights and
| privileges and be subject 10 all the terms
and conditions of said class. II said cor
poratiOn fails to exercise its rights 10 buy
in said stock within said period. the hoIde-
| thereof may make such other disposition OF
STOCK
Glass "B' of the common stock may be sold,
assigned or disposed Of by any holder there
| Of. without first offering il in writing for
| thirty 800 DAYS to the corporation at a
price not to exceed the book value OF said
stock at the date of the last inventory, de
Quoting dividends included therein which
have already been paid, and adding interest
on said value at Six % per cent? per cent
per annum from said date up to the date OF
purchase. Any sale other disposition.
pledge or encumbrance of said stock shall be
made subject to this provision of the charter.
Said corporation is hereby authorized to pur-
chase said stock out Of the profits or earned
surplus, and TO reissue same at not less
than the price for which purchased, and when
50 issued said stock shall have all the rights
and privileges and be subject 70 all the
terms and conditions of the stock of said
. class. If said corporation fails TO exercise
its right TO buy in said stock within said
period, the holder thereof may make such
other disposition of the stock as he desires
a. Should the holder of any OF Class "B
| of the common stock die. should such hold
er who is at the time of the issue to him OF
any such stock be at such time connected
with the corporation as employee and such
connection for any reason terminate or be
terminated. the holders OF said stock shall
be required to sell his said common STOCK
to the corporation at a price not to exceed
.he book value of said stock at the date Of
the last inventory, deducting dividends in
: Guided therein which have already been paiC
and adding interest on said value at siS
| 10 per cent? per cent per annum from said
date TO the date OF purchase; provided SAID
corporation shall accept and pay for the SAID
, stock within thirty 600 days from the tender
thereof TO the corporation by the estate o.
I such deceased stakeholder OF by the stock
holder whose connection with the corporation
has terminated, after which said estate anC
, i said stakeholder shall be free TO make sucl
! other disposition of the stock as the lega
\ representatives of such estate or as saiC
stakeholder whose connection with the cor
poration has terminated, may desire. IS
This corporation shall have the right to de
crease its capital stock in the manner au
, thor;zed by law, and in such event to pa,
OF the retired stock from the capital an,
surplus Of the corporation in accordance will
, law and subject 20 the provisions Of thi
I charter. 10. Fifty per cent go per cent
? of the total (Which need not however, be O
I | each class OF the capital stock shall be sub
4 scribed before the filing of these articles o
| Incorporation. and Fifty per cent go per cent
before the corporation engages in business
/, / and the remainder within Twelve Oh month
i thereafter; but all stock subscribed for ma
. | be paid either in cash or property acIuall
received by or labor done for the corpora
p tion in accordance with law. In payment @
4 all or any portion Of said stock this corpo
4 ration is authorized to acquire and take owe
), ! any existing business, and this corporation
Q shall hereafter have the right to acquire an
n existing business or property. and to issu
II its stock or any portion thereof for the valu
thereof in accordance with law. II. Tn
# capital stock Of the corporation may be ir
/ creased TO Two Million Five Hundred Thou
y sand (s250,O00OO Dollars, that is, the pre-
d ferred stock may be increased TO Seven Hun
!, dred Fifty Thousand (S75O.0O0O0 Dollars a.
d of such increase in the preferred to
;: Class "B," and the common stock to On
:. Million Seven Hundred Fifty Thousand Do
n lars (Sl,750,OOOOO), all of such increase i
D the common TO be Class "B." lS. Sept
!. rate stock books shall be kept for each
/ said Glasses of stock, and no transfer q
T. stock shall be binding on this corporation
d except when made upou its books by IN
,e surrender Of the outstanding certificate. an
II It's proper endorsement by the owner or hi
= constituted agent ~ legal representative.
II ARTICLE VI. All the powers Of thi
3 corporation shall be vested in and exercise
D. by a Board Of three directors. elected b
l. the stockholders who are entitled 70 IN
y voting power at the annual meeting whic
70 shall be held the first Monday Of Dc
II tober of each year, with the right OF sue
d stockholders TO increase the number to NJ
IS more than seven directors Each of the d
10 rectors shall at least one share of Con
d mon stock in his own name. The first ar
y nual meeting shall be held on the first Nor
70 day Of October 1919. until which time tn
2 officers and directors named in this charte
70 shall continue 10 act and until their SUD
E. cessors are elected and qualified. At eac
8 annual meeting of said stockholders. the sal
d stockholders shall elect as many of said d
S rectors as they shall desire, and should the
~ elect less than seven the directors Sha