The herald., 1918-11-14
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 il known, That on this eleventh
day of the month of July in the year of
our Lord one thousand nine hundred and
eighteen and of the Independence of the
United States of America, the 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 in
the presence of the witnesses hereinafter
named and undersigned, personally came and
appeared Percival Stern and Samuel He'll
man, who declared that at a general meeting
Of the stockholders of the Interstate Electric
Company, a corporation organized by an
act passed before Joseph Lautenschlaeger,
Notary Public, on May LIST, 1904, and amend
ed by act passed before the undersigned
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 APP
! 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 Hellman
as secretary of the said stockholders meet
| ing, were authorized and empowered to ap-
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 Nv and
| V 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 20th 1918, 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 $400OO0.00, di
vided into four thousand shares 5000, Of
the par value Of $4,000 each. OF the shares
| authorized fifteen hundred Q500) shares shall
be preferred stock and twenty-five hundred
$500 shares shall be common stock. Each
share of the common and preferred stool
shall be entitled to one vote in person OF
The terms, conditions, limitations and pro
visions upon which said preferred stock i,
issued are these: The holders thereof shall
be entitled to receive out of the net profits
la fixed cumulative dividend of eight pc
cent per annum on the 18th day of Febru
airy of each year and the par value of salt
preferred stock, with cumulative per cen
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
lpany in preference to the common stock ii
the event of any liquidation of the Compan!
whether through insolvency or the termi ma
ton OF its corporate existence or any othe
causes, before any distribution of capita
stock. The preferred stock, however, shall
not be entitled to participate in any othe
or additional earnings or profit. Until tn
preferred stock has been retired no dividen'
shall be declared on the common stock, un
til all dividends and interest due on tn
preferred stock have been actually paid an
unless there is earned during the previou
fiscal year twice the amount Of such divi
dend exclusive of all dividends paid tn
preferred stock during the fiscal year. Fiv
years after its issuance the company ma
retire any or all of the preferred stoc
by payment of the par value thereof, an
accumulated dividends including a pro rat
of the dividend dor the current year and in
terest on dividends in arrears, if any, be du
and shall retire the same by making a lik
/. payment, on sixty 900 days written deman
!, being made on the Company TO do so by an
holder of the preferred stock. The compan
shall have the right 10 retire any or all G
, the preferred stock, at any time, before fiv
, years by making similar payment to tn
| above and a bonus of 10 per cent on the pa
value of such stock. The preferred stoc
shall cease TO earn dividends and nteres
from the day designated by the Company fo
the retirement of such stock.
ARTICLE V.-All the corporate powers
said corporation shall be vested in and excl
cised by the Board of Directors, to be con
r posed of ten stockholders, to be elected ar
, nually on the first Monday in May of eac
+ year, except it be holiday, then on tn