The herald., 1919-07-17
AMENDMENT TO THE CHARTER OF
WESTERN NAVAL STORES CO.

lana. Parish OF Orleans, City OF New Or
leans. Be il known, that on this 18th day
OF the month OF June in the year Of our
Lord, one thousand, nine hundred and nine
teen, and OF the independence OF the United
States OF America, the one hundred and
foTty-third; before me- w Morgan Gurlev
Notary Public, duly commissioned and quail
fled in and for the Parish of Orleans, City
of New Orleans therein residing, and in the
presence OF the witnesses hereinafter named
and undersigned; personally came and ap.
peared, Mr.. John A. Taylor, a resident OF
this City of full age OF majority, and Sec
rotary OF the Western Naval Stores Com
pany, corporation organized under the
laws OF this State, and domiciled in this
City, created by act of Incorporation passed
before me, the undersigned Notary on Au-
gust p, 1907, and recorded in the Mortgage
office OF this Parish in Book No. SSl. Folio
No. $50; which said corporation was orga-
nzed with a capital stock OF fifty thousand
dollars tS50O00U); that by a resolution OF
the stockholders legally calI@S and held De
cember 70, 1910, said capital stock in
creased to One Hundred Thousand Dollars
Sl0O,M000 as shown by certificate of the
Secretary of State, dated January II, 1911
and attached to act of Amendment dated
February IL 1917 IN my notarlal records;
that, by subsequent resolution Of the stock
holders OF the Western Naval Stores Com
pany legally held March 81. 1914, the capital
stock OF said corporation increased from
One Hundred Thousand Dollars (Sl00G00Ol
to One Hundred and Forty Thousand Dollars
OF the Secretary of State, dated April "a,
1914, and attached to an Act of Amendment
OF said Western Naval Stores Company
dated February II, 1917, in my Notarial rec
ords; that by subsequent resolution of the
stockholders of the Western Naval Stores
Company legally held February O. 1917, the
capital stock Of said corporation was in
creased from One Hundred and Forty Thou
sand Dollars (Sl+0,000O to Five Hundred
Thousand Dollars (S5OO,OOOOO) as evidenced
by notarial act of Amendment to said char
ter of Western Naval Stores Company pass
ed before me, the undersigned Notary, on
February u, 1917; that by subsequent reso-
luton Of the stockholders of the Western
Naval Stores Company legally held April /.
1918, the capital stock OF said corporation
was increased from Five Hundred Thousand
Hundred Thousand Dollars ($l,lOO.OOOOO as
evidenced by Notarial Act OF Amendment
TO said charter of Western Naval Stores
Company passed before me, the undersigned
Notary, on June Il, 1918;
/ That said corporation now has a capital
stock of One Million, One Hundred Thou
sand Dollars (Sl,l00,OOOOO) divided into
eleven thousand Cl,0O0) shares of One Hun
bred Dollars $500 each, and said appearer
/ further declares, that a meeting of the stock
holders of the Western Naval Stores Company
was held at the office of said corporation in
this City, after due notice being sent &c
each stakeholder in conformity with the
Charter of said corporation, and the laws OF
this State. That said meeting was hello
at the office of the said corporation on May
a. 1919. in conformity with said call.
| That there was present and represented a
said meeting the entire issue of stock o.
said corporation, viz: Eleven thousand a.,
000 shares who took part in and voted a
said meeting and that said stakeholder.
adopted resolution to change, alter anC
amend Article ", of the Charter of SAID
corporation, so as to increase the capital stocl
of said corporation by an addition of Siz
Hundred thousand dollars (S6OO.Oo0O, to be
divided into six thousand 5000 shares pal
value of $1,000 each; thus making a tota
capital stock of this corporation of One Mil
lion, Seven Hundred Thousand Dollars Isl,
70O,O00OO) the increased amount thereof, viz.
Six Hundred Thousand Dollars, (S600.0O000
TO be an issue of preferred stock entitled &
dividends of eight per cent 800 per annuu
accommodating from the date of issue. The
dividend shall be cumulative and no div
dend shall be declared or paid on any o.
the common stock until the unpaid dividend,
of the preferred stock shall have been fully
paid. The preferred stock shall also be en-
titled in case of liquidation dissolution
of the company, after the payments of all o.
its debts, TO the payment in full of the pa
amount thereof and the unpaid dividends
thereon, before any amount shall be paid t.
the stockholders of the common stock anC
after the payment of such par and dividend
to the holders of preferred stock, all remain
ing assets shall be paid to or distributed
among the holders of such common stock
all as will more fully appear by a certified
copy of the resolution referred to which i
hereto attached and made part hereof ant
which reads as follows. to-wit:
New Orleans, La, May 18th, 1919.
A meeting of the stockholders OF the West
ern Naval Stores Company was held at it
office in the Canal Bank Building New Or
leans. Louisiana, on this 14th day OF May
1919 for the purpose OF amending Article ~
of the Charter so to increase the capita
stock of this corporation from Sl,l00,00OO
to Sl,70O,0O000 and to authorize the issuanc
of cumulative preferred stock.
Present.: w B Chilean holding .,in S4
L. NJ. Aubrey, holding ! share; Buckner Chip
ley, holding ! share; ]. A. Taylor, holding
share D. B. II. Chaffe, holding share. Al
of the stockholders representing the entir
capital stock issue and outstanding.
Each stakeholder declared that he waive
any and all notice of said meeting whethe
provided for by the Charter of the Corpora
tion of by general law. Mr.. Chilean acte
as Chairman of the Meeting and Mr.. Taylo
as the Secretary thereof.
The following resolution was proposed b
| Mr. d. B. II. Chaffe:
Whereas, Article " of the Charter of thi
One Million, One hundred thousand (sl,lO0
{ 10000 Dollars divided into eleven thousan
O10O0) shares of $1,000 each, all of whic
| has been issued and heretofore paid for i
| full; and
! Whereas, for the due carrying out of Oh
, objects of this corporation. it is desirabl
I that the said capital stock should be increase
to the sum of sl,70O,0O00O, the increase
amount thereof to be an issue of preferre
stock entitled to dividends of eight per cen
r (Sod) per annum, accumulating from dat
of issue The dividends shall be cumulatiy
and no dividends shall be declared or pal
n on any of the common stock until the unpai
t dividends on the preferred stock have bee
I fully paid. The preferred stock shall ais
be entitled, in case of liquidation or di
: solution of the company, after the paymeI
y of all Of its debts, to the payment in full
/ the par amount thereof and the unpaid div
y dends thereon, before any amount shall !
d paid to the holders of the common stock ar
n after the payment of such par and divider
to the holders of preferred stock, all remain
n ing assets shall be paid TO or distribute
II among the holders of such common stock.
e Now, Therefore, be it resolved; That
j. capital stock Of this corporation be inereas'
!, from the sum of One Million, One Hundr,
IS Thousand Isl 100, 10000 dollars to the su
II Of One Million Seven Hundred Thousar
h Dollars (sl,7O0.OOO0O), by the issue of S
le thousand {6,OOo) shares OF Preferred Stock
ID the par value of $1,000 each such new sto
.r 10 be entitled to an annual dividend OF eig
err (so5) per cent for each and every year sai
.e NAV be outstanding and to be preferred,
IL 10 the par value thereof and all unpaid di'
II dends, TO full payment out OF the assets
r. this corporation over any issue OF stock n
Sc existent, all as more fully set forth IN p
IS, amble hereof.
to That the said preferred stock shall be p;
for in cash and be issued and allotted prop
MS tionately among the stockholders OF I
he corporation, or sold or disposed of as
Ter directors NAV deem proper for the bent