The herald., 1918-08-08
CHARTER
AMENDMENT TIC THE CHARTER OF
THE PAN-AMERICAN FURNITURE
FACTORY INC.

FACTORY, INC.
United States Of America, State Of LOUIS
lana, Parish 5i Orleans. City OF Ne"
Orleans:
Be !. known that on this twenty sixth day
~ the month u July, IN the year OF our
Lord. Oac Thousand Nine Hundred and
| Eighteen. and Of the Independence OF the
! United States OF America, the one hInd'ed
! and tJrJy-third:
Rsro~c me. Theodore \ Schrber, a Notary
| pg5l,r. IN and for the Parish OF Orleans,
state u Louisiana. duly commissioned, sworn
and qualified. and therein residing and N
| the presence Of the witnesses herelnaiteT
named and undersigned; personally came ana
! ,I,ns,-ed. Mr. Albert { Jacobs, and Charles
! h. Lew both Of lawful age, and residents
of this City and State, and herein appearing
| IN their respective capacities oI I'eS'ueH i
and Secretary Of The Pan-American turnl-
by act before the undersigned Notary PUP
lie ON February 5,I. 1915, and recorded IN
| NJ O. Z. ll35, folio IA
| Which said appearers declared that pur-
! suant 70 a resolution adopted by inc STOCK
holders Of said corporation, passed at a
sf1rk holders meeting held on the 10Th day
| of Tulv lgls a certified copy OF the minutes
| of which meeting is hereto annexed and made
| A part hereof. said meeting having been
| convened f0r the purpose reclted IN SAID
resolution and ~ accordance with the char
ter and the provisions VI the law, the ioi-
lowing changes and amendments were
made in the original charter executed before
the undersigned Notary Public on the On
day Of February, 1916.
ARTICLE III-Thc capital stock Of This
corporation l. hereby fixed At the sum o;
Seventy Thousand Dollar, tSDOrDpOD, Thirty
Five Thousand Dollars tSSo,bp't, u De
represented by three hundred and fifty
shares of preferred stock, OF the par Naiue
Of One Hundred dollars (Sl00oO each. and
;hirtv-five thousand dollars tS25pDtW, u
be represented by three hundred and nifty
shares OF common stock 81 the par value OF
one hundred dollars $4,000 each. sad stock
10 be payable at such times. and IN such m
sediments. and under such conditions as the
Board pi Directors may determine. SAID
stock shall be paid for in cash, or IN prop
erty actually received by the corporation
The capital stock OF this corporation may be
increased to the sum- OF One Hundred Thou
sand dollars lSlo0pn9O. This corporation
shall be going concern as soon as the sum
Of Thirty-five thousand dollars tSSSOpOJl
has been subscribed Tor and paid in.
The other conditions, limitations and pro
Visions under which the preferred stock
shall be issued, are 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
GCC) per cent. per dnnum. payable semi
annually, to-wIt: the first day Of Janu-
airy and July, of each year. before any divi-
common stock for the period Heretofore
elapsed. The principal, or par value OF said
preferred stock. with cumulative dividends
thereon at seven per cent per annum from
the date dividend should have been paid.
shall be paid IN full out Of the assets Of the
company. in preference TO 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 per cent inter
| est from their maturity date as herein pro
I IL l. 4 Ill -
any period. or periods the said dividends are
| not paid. the right thereto shall cumulatc
1 against the common stock: and all arrears
| Of such dividends so accumulated and interest
| thereon as herein provided, must he paid
before dividends can be paid on the common
| stock The preferred stock shall not be
| entitled, however, 20 participate in any Other
earnings, dividends or profits. The right
| tied with dividends shall commence from
| the data Of actual payment of such stock.
| The Board Of Directors shall have the right
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 this charter, at price OF One Hundred
| and Ten Dollars (SllOcO per share. in add-
| ton to the cumulated dividends and interest
| thereon. il any. as hereinabove provided for.
Such retirement shall be at the option OF
the Board Of Directors. and shall be effected
| by payment ont 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
corporation. the outstanding common stock
! to be then worth less than par. Such
retirement redemption of preferred stock
can only be effected 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 pow
| er; and holders 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
| ings Of the stockholders or directors thereof,
| 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
| amendments in the form of this public act
| TO the end that the said amendments NAV
be promulgated and recorded. and thus read
in the original charter passed before me-
the undersigned Notary Public, on February
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 Of Mes,
srs. Edgar NJ. Calm, and Irwin Thomas
competent witnesses. who hereunto sign their
| names, together with the said appearers and
me, Notary. after due reading OF the whole
Witnesses: Edgar NJ. Calm, Irwin Thomas
Original signed
\. G. 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 o.
The Pan-American Furniture Factory. Inc
was this day recorded in my office, in Bool
l222. folio -
New Orleans, July --. 1918
true copy Of the original
| fSean
THEODORE A SCHUBER.
| Notary Public
August 1915 22-29- Sept. S