The herald. [volume] (New Orleans, La.) 1905-1953, 1919-06-26
AMENDMENT TO THE CHARTER OF
WESTERN NAVAL STORES CO.

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
torty-thlrd; before NE. ". Morgan Gurley, a
Notary Public duly commissioned and quail
iied IN and Tor the Parish OF Orleans. Civ
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, 4 resident of
this City OF full age OF majority, and Sec
rotary Of the Western Naval Stores Com
r pdhy, corporation organized under the
laws of this State, and domiciled in TIN ;
City, created by act Of interpolation passed
before me, the undersigned Notary on Au-
gust q, 1907, and recorded in the Mortgage
Office Of this Parish in Book No. ISL Folio
No. $50; which said corporation was orga-
mzed with capital stock OF fifty thousand
dollars tS5lr0.n; that by resolution of
the Stockholders legally called and held De
cember ~, 1910 said capital stock was IN
creased 10 One Hundred Thousand Dollars
| (SlOO.UODJ) shown by certificate Of the
Secretary Of State, dated January II, 1911.
and attached to act Of Amendment dated
February L. 1917 in my notarial record,
that, by subsequent resolution OF the stock
holders OF the Western Naval Stores Com
pany legally held March 81. 1914, the capital
stock OF SAID corporation was increased from
One Hundred Thousand Dollars t$l0O.OOOOOD
to One Hundred and Forty Thousand Dollar,
(SlO,OWOO) evidenced by the certificate
OF the Secretary OF State, dated April IA,
.
OF said Western Naval Stores Company
dated February y, 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 t$l40NOOW to Five Hundred
Thousand Dollars ($5OOOOOOO as evidenced
by nOtarial act Of Amendment TO said char
ter Of Western Naval Stores Company, pass
ed before me- the undersigned Notary, on
February II, 1917 that by subsequent reso-
luton Of the stockholders OF the Western
Naval Stores Company legally held April l..
1918, the capital stock OF said corporation
was increased from Five Hundred Thousand
Dollars tS9O,00OO) 10 One Million. Onc
Hundred Thousand Dollars l$l.1OOOOOOW as
to said charter Of Western Naval Stores
Company passed before me, the undersigned
Notary, on June "A, 1918;
That said corporation now has capital
stock OF One Million, One Hundred Thou
sand Dollars (Sl.lOOOOOOO divided INFO
eleven thousand Ql,OOOJ shares OF One Hun
dred Dollars (Sl00) each, and said appearer
further declares, that meeting of the stock
holders OF the Western Naval Stores Company
was held al the office OF said corporation IN
each stakeholder in conformity with the
Charter OF said corporation, and the laws OF
this State. That said meeting was held
at the office of the said corporation on Nav
That there was present and represented at
SAID meeting the entire issue of stock OF
SAID corporation, viz: Eleven thousand ILL.,
900 shares who took part in and voted at
said meeting and that said stockholders
adopted a resolution to change, alter and
amend Article ~, OF the Charter of said
corporation, so as to increase the capital stock
| OF SAID corporation by addition of SIX
Hundred thousand dollars ($600.O0000), TO be
divided into six thousand 10000 shares par
value of $1,000 each; thus making a total
, capital stock of this corporation OF One Mi.
lion, Seven Hundred Thousand Dollars ISL
7OOOOOOO) the increased amount thereof, viz.
Six Hundred Thousand Dollars, (s6OOOOOOOl
to be an issue of preferred stock entitled 20
dividends OF eight per cent. 800 per annum
accommodating from the date Of issue. The
dividend shall be cumulative and no divi-
dend shall be declared or paid on any OF
the common stock until the unpaid dividends
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 of
its debts, to the payment in full of the par
amount thereof and the unpaid dividends
thereon, before any amount shall be paid TO
the stockholders OF the common stock and
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 ;
copy of the resolution referred TO which is
hereto attached and made a part hereof and
which reads as follows, to-wit:
New Orleans, La, May 14th, 1919
A meeting of the stockholders of the West
ern Naval Stores Company was held at its
office in the Canal Bank Building, New Or.
leans, Louisiana, on this l4th day of May,
1917 Tor the purpose OF amending Article ~
of the Charter so as to increase the capital
stock of this corporation from $l,l0000.00
to Sl,70O0O00O and to authorize the issuance
of cumulative preferred stock
Present. w B. Chilean holding $40
shares; John H. ho, klT6y holding $50 shares;
ley, holding ! share; ]. A. Taylor, holding /
share; ID. b. ii. Chaffe, holding / share. All
OF the stockholders representing the entire
capital stock issue and outstanding
Each stakeholder declared that he waived
any and all notice of said meeting, whether
provided for by the Charter of the Corpora
ton of by general law Mr.. Chilean acted
as Chairman of the Meeting and Mr.. Taylor
as the Secretary thereof.
The following resolution was proposed by
Mr.. ID. b. II. Chaffe:
/ Whereas Article " of the Charter of thi :
corporation provides for the capital stock OF
One Million, One hundred thousand Isl 100,
00O00 Dollars divided into eleven thousand
Ql0OO) shares of $1,000 each, all of which
has been issued and heretofore paid for in
full; and
I Whereas, for the due carrying out Of the
objects of this corporation, it is desirable
that the said capital stock should be increased
to the of $l.7000000O. the increased
amount thereof to be an issue of preferred
stock entitled to dividends of eight per cent.
I $50 per annum accommodating from date
of issue. The dividends shall be cumulative
and no dividends shall be declared or paid
on any of the common stock until the unpaid
I dividends the preferred stock have been
fully paid. The preferred stock shall also
be entitled, in of liquidation or dis
solution of the company, after the payment
of all OF its debts, TO the payment in full of
the par amount thereof and the unpaid div-
paid to the holders of the common stock and
after the payment of such par and dividend
to the holders of preferred stock, all remain
ing assets shall be paid to or distributed
among the holders of such common stock.
capital stock of this corporation be increased
Thousand ($l,l00,OOOOO) dollars to the sum
of One Million Seven Hundred Thousand
/ Dollars Isl, 70O,000OO), by the issue of six
| thousand 5000 shares OF Preferred Stock at
the par value OF $1,000 each such new stock
| 20 be entitled to an annual dividend Of eight
tSq5) per cent. for each and every year same
may be outstanding and to be preferred, as
/ to the par value thereof and all unpaid divi-
dends, to full payment out Of the assets Of
this corporation over any issue of stock now
existent all as more fully set forth in pre-
amble hereof.
That the said preferred stock shall be paid
for in cash and be issued and allotted proper
tionately among the stockholders of this
corporation or sold or disposed of as the
directors NAV deem proper for the benefit