The herald. [volume] (New Orleans, La.) 1905-1953, 1919-06-12

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 lOth day
of the month of May, 1919, before me, Henry
G. Bloch, Notary Public, duly commissioned
and sworn in and for the Parish OF Orleans,
| City of New Orleans, therein residing, per
sonaly 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 ut the meeting
held April %, 1919, and authorized to a2-
pear before a 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
state and domiciled in the City of New Or
leans Lonf Rinrh 5y , act p passed O SnT
| 18th, 1919, recorded MOB 1881. Folio 81. held
meeting of the stockholders of said cor
poration on the 10Th day of April, 1919. 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 to amend Article 8 and 3 OF the
charter, so as to provide that the voting
power of the stockholders of said corporation
/
The said appearers further declared that
| said amendment of Articles ) and o OF SAID
charter was made and adopted by the unanl-
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
| the action taken at said meeting.
And the said appearers further declared as
will appear from the annexed certified min
utes OF the stockholders meeting that Ar
tice and of the charter OF the west Or
leans Land Co.. Inc, were amended so as
to read as follows:
| ARTICLE III.-The capital stock of this
corporation is hereby fixed at Two Hundred
Forty-onA Thousand Five Hundred and
No iiOO k241, 10000 Dollars. divided into and
represented by two thousand four hundred
fifteen 24l5) shares Of the I. par n value OF
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 corporation
until recorded on its books. Said capital
stock shares consists OF two separate and
distinct 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 Gs4l $1,000 Dollars, divided into and rep
resented by Four Hundred. :. Fifteen (4I5)
shares of the par value aforesaid: Inc
holders of said preferred stock, long as
the same shall be outstanding, shall be en-
titled to dividends in each and every year
at the rate of seven per cent ga per an,
mum, payable 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 dissou
ton of the corporation, the holders of the
preferred stock shall be paid in full the pal
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
preferred stock is issued under and subject
to the following conditions, stpulations and
instructions, to-wit: That the company
must on the first day of April in each year
after paying the dividends that are due oil
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-
ferred stock shall be outstanding: The
entitled to the power of voting upon any cues
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
bred Thousand and no 400 $4,000 Dol
lars. divided into and represented by Tive
Thousand (2000) shares of the par value
aforesaid. The holders of said common
stock shall not be entitled to receive any
dividends thereon until all of the said pre-
ferred stock has been paid and retired
. As soon as all the said preferred stool
shall have been retired the common stool
shall constitute the capital stock of said cor
poration and shall have full control Of it!
affairs and be entitled to all the benefit.
and advantages of the holders of stock il
any corporation. The common stock out
standing shall have the exclusive voting
meetings.
ARTICLE VIAL corporate powers o
this corporation shall be vested in and ex
ercised by Board of not less than three e.
nor more than five (O Directors. Unit
: otherwise provided by the Board of Direc
tors, the said Board shall consist of tire,
90 members, majority of whom shall con
stitute a quorum for the transaction of al
business.
Said Board shall be elected annually, OF
the first legal Monday in April. The frs
election under the charter shall be held il
1920, until which date, the following shall
wit: James Kicker. 1858 Lapage Street, New
Orleans. La. A. S. Chenet, 4316 So. Clai
, borne St, New Orleans, La; d. w. Harrell
925 Nashville Ave, New Orleans, La, VIII
, shall hold their office until their successor
have been elected and have qualified. Thu
{ said Board of Directors shall elect from
, their number President, ,Vice-President
and a Secretary Treasurer. The latter of
flee may be held by two persons, and th
Secretary need not be member of th'
, Board of Directors. Such election shall b.
held at the first meeting Of said Board fol
, lowing their own election. Until their sue
: lanes Kicker shall be President, the said A
. s. Chenet shall be Vice-President and D
W. Harrell shall be Secretary Treasurer
All elections shall be by ballot and a ma
I jority of the votes cast shall be necessar!
TO elect or to decide any question; eacl
stakeholder shall be entitled to one vot
for each share Of common stock standing IL
, his name, on the books of the company, AM
such vote may be cast in person, by prox,
/ or as provided in Section II of Act No. %
of 1914 Said Board of Directors shall pro
; vide by resolution, for the manner and form
4 of giving notices of election, meetings, etc
both of the stockholders and the Board It
self Said Board shall also make such by
laws, rules and regulations as may be neces
sary to properly carry out and exercise tn
duties, powers and privileges of this corpo
4 ration, wherein provided for, including tn
issue, registration and certification OF it
capital stock, the manner and method o
> voting or exercising the stock in other cor
porations and the interest in partnership
and firms, and shall generally have and en-
Ii Joy all rights, privileges and powers allow
ed or usually exercised by Boards of Di
rectors under the laws Of this state.
i, Tins done and passed in my office in tn