The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-29
AMENDMENT TO THE CHARTER OF
WEST ORLEANS LAND CO., INC.

L
May p to June %, inc.
AMENDMENT TO THE CHARTER OF
WEST ORLEANS LAND CO., INC.
United States OF America, State of Louis
lana, Parish Of Orleans, City OF New OR.
leans. Be it known, that on this 10th day
OF the month OF May, 1919, before me, Henry
&. Bloch, Notary Public duly commissioned
and sworn in and for the Parish of Orleans
City of New Orleans, therein residing, per
sonally came and appeared James Kicker
and d. w. Harrell. both residents of the
City of New Orleans, Louisiana, President
and Secretary, respectively OF the West Or
leans Land Co., Inc, acting as a committee
appointed by the stockholders at the meeting
held April %, 1919, and authorized to ap-
pear before Notary and put the amend
ment to the charter of the West Orleans
Land Co, Inc, adopted at said meeting OF
stockholders in the form required by law.
| And the said appearers declared that
whereas the West Orleans Land Co. Inc, a
corporation organized under the laws of this
leans, Louisiana, by act passed before
Henry G. Bloch, Notary Public, on April
25th, 1919. recorded MOB 1881, Folio 81. held
meeting of the stockholders of said cor
Porationr. on the 10Th day of April. 1912 that
the entire amount of the outstanding capital
stock to-wit: Two thousand four hundred
and fifteen shares, were present in person
or by proxy and that it was unanimously
RESOLVED ts amend Article and Of the
charter, as to provide that the voting
power of the stockholders of said corporation
shall be placed exclusively in the holders
of the common stock.
/ The said appearers further declared that
| said amendment of Articles ) and 6 of said
charter was made and adopted by the unan-
nous vote as will appear from the annexed
certified extract from the minutes of the
meeting of the stockholders of said corpora
| ton setting forth the proceedings had and
he toLa AZ
| And the said appearers further declared as
will appear from the annexed certified min
utes of the stockholders meeting that Ar
ticle and of the charter of the West Or
leans Land Co.. Inc, were amended as
10 read as follows:
ARTICLE III.-The capital stock of this
corporation is hereby fixed at Two Hundred
Forty-one Thousand Five Hundred and
No 400 ($2+1 10000 Dollars, divided into and
represented by two thousand four hundred
fifteen (24l9 shares of the par value of
One Hundred and No. 400 $4,000 Dollars
each; said capital stock may be paid for in
money. property or services made over or
rendered to the company. All shares. of
stock shall not be binding on the corpora alton
until recorded on its books. Said capital
stock shares consists Of two separate and
d stinct classes. one thereof TO be known as
preferred stock and the other as common
stock.
PREFERRED STOCK.-The amount of the
said preferred stock shall be the sum of
Forty-one Thousand Five Hundred and No/
100 (S4l $4,000 Dollars, divided into and rep
resented by Four Hundred Fifteen (4l5)
shares of the par value aforesaid The
holders of said preferred stock, as long
the same shall be outstanding, shall be en-
titled to dividends in each and every year
at the rate OF seven per cent G9o) per an
mum, payable on the first day of April OF
each year, said dividends shall be cumula-
tive upon the first day of April, 1919, and
limited to seven per cent G9o) per annum.
In the event of any liquidation or dssolu-
ton of the corporation, the holders of the
preferred stock shall be paid in full the par
value of their shares with all accrued divi.
dends and after payment to the stockholders
of the preferred stock Of its par value with
all such accrued dividend, the remaining
assets and funds shall be distributed among
the holders of the common stock. The said
to the following conditions. stipulations and
instructions, to-wit: That the company
must on the first day of April in each year,
after paying the dividends that are due or
accrued upon the preferred stock, use all of
the net profits of the business not neces-
sary to the conducting Of said business. to
pay and retire such of the preferred stock
as the Board of Directors may determine,
the said preferred stock to be retired at its
par, together with such cumulative dividends
as may be due thereon. The preferred stock
OF this company shall alone be entitled to divi-
dends so long as any portion of the said pre-
outstanding.
preferred stock of this company shall not be
entitled to the power of voting upon any uues-
ton that may come before a stockholders,
meeting, but the voting power is given ex-
clusively to holders of the common stock.
COMMON STOCK.-The common stock of
this corporation is hereby fixed at Two Hun.
dred Thousand and no 400 (s2OO0Oo.OO) Dol. !
lars. divided into and represented by Two !
Thousand (20oO) shares of the par value !
aforesaid. The holders of said common
stock he Id
dividends thereon until all of the said pre- |
ferred stock has been paid and retired
las soon as all the said preferred stock |
shall have been retired the common stock |
poration and shall have full control of its |
affairs and be entitled to all the benefits |
and advantages of the holders of stock in |
any corporation. The common stock out
power on all questions before stockholders
meetings.
ARTICLE vI.-All corporate powers of
this corporation shall be vested in and ex-
ercised by Board of not less than three 90 |
nor more than five 80 Directors. Until
otherwise provided by the Board of Direc-
tors, the said Board shall consist of three
(5l members,-a majority of whom shall con-
shtute quorum for the transaction OF all
Said Board shall be elected annually, on
the first legal Monday in April. The first
election under the charter shall be held in
W., until which date, the following shall
constitute the first Board of Directors. to.
Wit: James Kicker. 1858 Lapage Street, New
Orleans, La, A. S. Chenet, 43l6 So. Clai.
borne St, New Orleans, La; d. w. Harreu.
rs Nashville Ave, New Orleans, La, who
shall hold their office until their successors
nave been elected and have qualified. The
said Board of Directors shall elect from
heir number President. Vice-President,
md Secretary Treasurer The latter Of
ice may be held by two persons, and the
Secretary need not be a member of the
Board of Directors. Such election shall be
leld at the first meeting of said Board fol.
owing their own election. Until their sue
essors have been so elected in 1920, the said
ames Kicker shall be President, the said A.
}. Chenet shall be Vice,President and D.
". Harrell shall be Secretary Treasurer
All elections shall be by ballot and ma |
GRITTY of the votes cast shall be necessary
o elect or to decide any question:; each
tockholder shall be entitled to one vote
or each share of common stock standing in I
rs name, on the books of the company, and |
UGH vote may be cast in person, by proxy
r as provided in Section II of Act No. 267 c
I 1914. Said Board of Directors shall pro- 7
ide, by resolution, for the manner and form !
{ giving notices of election, meetings, ETC., Q
9th of the stockholders and the Board it. 9
elf. Said Board shall also make such by a
avs, rules and regulations as may be neces- .
airy to properly carry out and exercise the I
utes, powers and privileges of this corpo- c
alton, wherein provided for, including the =,
'sue, registration and certification Of its Q
apital stock, the manner and method of ?