The herald. [volume] (New Orleans, La.) 1905-1953, 1918-09-05
CHARTER

nav deem proper on the common stock out o
the surplus earnings, or profits, growing out o
the business of the current or previous years
III any person not connected with the corpora
ton as officer, director or employee, should a
lany time become the holder of common stock
and should the dividends applicable to the com
lmOn stock in any year equal or exceed ten 90
lper cent in amount, then and in any such even
Tor events the dividends payable TO non-employe'
holders OF common stock shall never exceed 90
lper cent III amount, the excess, If any, shall b'
applied to surplus. The preferred stock, in Who'll,
or in part, may be retired redeemed at any
time by vote Of three-fourths of all of tht
outstanding common stock OF the corporation al
a meeting called ion that purpose, as provided b,
law; and when thus retired, may be held il
suspense IN the treasury, subject TO reisSuance
III 1t be so desired by the Board of Directors
| At not less than par. The retirement or redemp
ton OF the preferred stock shall be at par, with
accrued dividends. The owners Of the preferred
stock shall not have the right to vote on the
question Of its retirement. In the event OF
Holders of the preferred stock shall be entitled
Ito receive the par value Of their stock, with
all accrued dividends before any division of the
! corporate funds Is made or otherwise set apart
| in payment of the common stock The Capital
stock Of the corporation shall not be issued for
| less than par and shall be fully paid for in cash
or property. acceptable to the Board Of Directors
lat the time OF Its issuance and thereafter shall
be worcestershire. No presgn: future stock
holder shall vaidly sell. assign or transfer,
other than by inheritance, any Ot the common
lNIhth OF lIl> corporation until the same Slall
have been FIRST offered to the remaining stock
holders, for the bcnCft of those stockholders who
may desire 10 purchase same, through the Board
"f Directors. for a period Of ten days. at the
book value of such stock, shown by the books
OF the corporation the first day of August
last preceding the date of such offer. Ii shall
be the duty OF the Board of Directors, promptly
upon receiving offer of sale OF any Of the
ncate the TO the stockholders, in writing
through the secretary Of the company, and each
of the said stockholders shall be entitled TO pur
chase such proportion OF the stock 50 offered for
sale the number of common shares owned bv
him at the time bears to the number of shares
owned by ali other stockholders desiring to par.
ticpate IN the purchase. No sale under fore
closure, attachment or other process, by virtue
Of any power Of attorney, pledge hypothecatiOn.
shall be validity made of the common stock until
the foregoing requirements have been complied
provoking such foreclosure or sale. The Board
OF Directors shall have authority, however, To
waive the above requirements TO any particular
hypothecation or pledge of common stock, by
resolution adopted at a regular meeting Of the
Board, OF at i meeting attended by all the mem
bers of the Board of Directors. such resolution
being adopted in advance OF the pledge or
hypOthCCltion.
Said Appearers further declared that the DELHI
erations had at said stockholders meeting author.
iZing the amendment To said Article " of the
Charter Of said corporation, correctly shown
by the Minutes of said meeting, a copy whereof,
hereof
said Appearers further declared that as will
appear from the aforesaid Minutes of the meeting
of stockholders of said corporation. they were
severdlly authorized to appear before a Notary
Public for the purpose of executing, in authentic
form, the amendment to Article " of the Char
ter aforesaid, and they do now appear before me.
said Notary, for the purpose OF carrying out and
giving effect to the resolutions adopted by the
shareholders. amending the Charter of said cor
poration in the particulars hereinaboye men
toned and set forth and to cause said amend.
mCnt to be recorded and published. as required
by law, to serve and avail the future may or
shall hereafter require.
Thus done and passed at my Office in the City
OF New Orleans, on the day, month and year
first hereinabove written, in the presence Of
Frances Eisler and Roy Willie. competent wit
neSScS. who hereUntO sign their names, together
with said Appearers and me, Notary, after due
reading OF the whole
tOriginal Signed)
Witnesses: +. Eisler, Roy Willie.
JNO. NJ. PARKER,
Chairman
JNO. F. FINKE,
Secretary
CHAS. F. FLETCHINGER,
Notary Public
l. the Undersigned, Recorder OF Mortgages, in
aud for the Parish of Orleans, State Of Louisiana
10 hereby certify that the above and foregoing
Act of Amendment TO the Charter OF John VI.
NY office in Book 1929, Folio 2s4.
New Orleans, La, July %, 1918.
(Signed) EMILE J. LEONARD, D. r.
| hereby certify the above and foregoing to
II Amendment now on file and OF record in my
,fce,
As witness my hand and notarial seal at New
Orleans, La, this 3Oth day OF July 1915.
CHAS. F. FLETCHINGER,
Notary Public. |