The herald. [volume] (New Orleans, La.) 1905-1953, 1918-08-29
AMENDMENT TO CHARTER OF
MENGE MARINE HARDWARE &
SrDDI co Inc

SUPPLY CO, I'M.
United States o: America, State % LOUISIANA,
Parish II Orleans. City % New Orleans.
Be It known, tina: on this 2+;h day Of the
month OF July. IN the year Of our Lord, one
thousand nine hundred and eighteen. and Of
The Independence Of United States OF AnerI-
ca. the one hundred and iorty-th.rd;
Before me. Henry 2. Dart. Jr.. a Notary
Public, duly commissioned aad qualified. IN
and f1- ;h., City and the Parish Of O-leans.
therein residing, and IN the presence 0t the
witnesses hereinafter and undersigned,
Personally came and appeared. the persons
whose names are hereinafter subscribed who
declared ths; they are all u age and resi-
supply Company. Inc. and as such stock
holders, own and possess between them the
entire capital stock Of the said corporation
issued and outstanding. viz: Two Hundred
shares Of the par value Of One Hundred Dol
lars lSlOlpl each, amounting n a tota! Of
Twenty Thousand Dollars tS30nOnO).
That a meeting OF the stockholders IF the
said corporation was duly held at the office
Of the same in New Orleans, on the 2i;h
day Of luly. 1918
That al The said meeting the said stock
holders added amendments 70 the charter
thereof, making certain changes and a!;e-a-
tions in the same.
That appearers have come before me. No
tary Public, to preserve and embody IN due
legal shape the said action Of the stockhold-
ers will appear from a certified copy OF
the resolutions adopted a: the said meeting
annexed TO this act.
That the said corporation was organized
under the laws Of the State Of Louisiana. by
act before George lanvier, a Notary Public,
duly commissioned and qualified in and for
the City Of New Orleans and Parish Of
Orleans, on December 10Th. 1914. recorded in
the Mortgage Office of the Parish OF Orleans
in book ll27. folio 90
And the said appearers accordingly declare
that they have appeared before me, Notary
he a..
the purpose Of enbodying in proper and au-
thentic shape the action Of the said meeting
Of the stockholders OF the Merge Marine
Hardware & Supply Company, Inc.
And the said appearers say and declare that
at the meeting Of the stockholders aforesaid.
the charter Of the Menge Marine Hardware
* Supply Company. Inc, was changed. al
tered. amended and modified 70 read
as hereinafter set out.
That the following articles are 10 be
amended TO read follows:
ARTICLE IlI.-The object and purposes
for which this corporation is organized and
be carried on by it, hereby declared TO
be, to engage IN general furnishing and
supply business, principal and as agent,
in hardware. ship chandlery, paints, railways.
mill supplies, supplies Of merchandise. food.
refreshments and stiTalents for ships. 10
engage in the business Of selling goods,
wares, products and merchandise, as .prn-
cipal or on commission, or both. and TO act
as general selling agents; to import and eX-
port goods. wares. produce and merchand Sc
Of every description and kind. and particu-
larly 10 act as agent. agents and brokers
for the selling on commission or otherwise OF
said goods, wares and products; to engage in
a general furnishing and supply business as
principal and as agent, in hardware, ship
chandlery. paint, railways, mill supplies.
ship supplies and in connection Herewith.
70 engage in general businesses at wholesale
and retail IN all lines OF hardware and sup
les nv mai oil I'D
all other things Of similar character. and
carry on the business OF the corporation in
Louisiana and in all of the states of the
United States, and foreign countries; and
generally 70 do and perform all things peril
nent and incident and which may be proper
and necessary 10 carry out and execute the
objects and purposes OF this corporation
ARTICLE As to be amended to read as
ARTICLE 4.-The capital stock of this cor
poration is hereby fixed at the sum
OF Sixty Thousand Dollars (s6O,OOoOO),
divided into and represented by Six Hun
dred shares Of the par value Of One Hun
bred Dollars $4,000 each. The said stock
shall be paid for in cash or in such install
ments and in such time and after such no
uce to subscribers as the Board Of Directors
may fix; or the same may be issued at no
less than par for labor done. or services per-
formed for the said corporation. or for the
pronerty or rights actually received by the
SAID corporation, or the same may be issued
as dividend from the earnings of the cor
poratIon and may be accepted BY the stock
holders after ratification at a meeting duly
assembled by a majority Of them. in shares
OF stock as a full payment Of the said divi-
dend. The capital stock may, after a meet
ing duly assembled: be increased TO One
Hundred Thousand Dollars CslOO.OOOOO.
All transfers Of shares of the capital stock
OF this corporation shall be made and enter
ed on the stock book Of the corporation and
no transfers shall be in any manner binding
on this corporation, unless so entered
ne capital stock Of this corporation is is
sued and held under the irrevocable agree
ment. contract and condition. that the hold
ers OF the majority Of the stock now or here
after issued and outstanding. may at all
times during the life of this charter aco,,i-e
and purchase the share or shares held by the
minority stockholders or by anv individual
holder thereof, at the price of One Hundred
Dollars $4,000 per share, TO which shall
be added the pro rata share of the said stock
IN the surplus account and undivided profit
account OF the corporation, as shown BY the
last audit which shall be the book value OF
the stock and the sole and only evidence 10
be considered
The surplus and undivided profits NAV be
Kept IN one or separate accounts.
. Inc pro rata OF each share of stock shall
De estimated by dividing the total number
OF shares issued and outstanding into the
balance to the credit Of said account or ac-
counts. The sum thus ascertained plus the
sum Of One Hundred Dollars (slOOO0) afore-
said' shall be the total value and price of the
SAID stock. All of which amounts shall be
payable TO cash within thirty day. after
written notices of the exercise of this priv.
lege.
The stock shall be taken and the books of
the corporation shall be audited as of Tanu-
airy LIST: Of each year, and soon as possible
after the expiration of said date
No sale or transfer of stock shall be recog-
nized by the corporation unless and until. it
shall have been first offered in writing to
the corporation at the price aforesaid in the
preceding paragraph. for the use and bere.
fit of other stockholders who are hereby
granted the absolute first right and privilege
TO purchase the same at the price stated. and
to accept such shall be in writing and paw
therefor within thirty days after such offer
shall have been made
The right and the rights conferred in this
article of the charter shall follow the stock
into whatever hands it may 20.
Failure of the holder or possessor Of the
certificate OF stock to produce or deliver the
sane shall authorize the corporation to re-
ceive in trust the price hereof: 70 cancel
such outstanding certificates on the books OF
the corporation. and issue new certificates
therefor. The stock so purchased shall be
divided among the remaining stockholders
as may be desired by them and in default
OF agreement in proportion TO their several
holdings, and upon payment of the price
thereof,
This corporation shall be the agent of the
stockholders specially empowered through its
Board of Directors 10 enforce and carry out
all OF the foregoing provisions regarding
stock in this corporation. The substance
of these provisions of the charter shall be
stated briefly and succicntly on the face of
each certificate of stock and shall be con-