The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-22

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
Il. 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 a committee
appointed by the stockholders at the meeting
held April 20, 1919, and authorized TO APP
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,
corporation organized under the laws of this
state and domiciled in the City Of New Or
leans, Louisiana, by act passed before
Henry G. Bloch, Notary Public. on April
18th, 1919, recorded MOB 1881, Folio 81. held
a meeting of the stockholders of said
poraton the Goth day of April. 1919, that
the entire amount of the outstanding capital
stock to-wit: Two thousand four hundred
and fifteen shares, present in person
or by proxy and that it was unanimously
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.
i ne Salu dppedrSIS lurlleT utCldISu lHdl
said amendment of Articles and of said
charter was made and adopted by the unani.
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 3 and of the charter of the West Or
1eap md n Inc amended Ct
TO read follows:
ARTICLE III.-The capital stock of this
corporation is hereby fixed at Two Hundred
Forty-one Thousand Five Hundred and
No 400 ($24l $1,000 Dollars, divided into and
represented by two thousand four hundred
fifteen C24l5) shares of the par value of
One Hundred and No. 200 $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 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 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 (4l0
shares of the par value aforesaid. The
the same shall be outstanding shall be en-
titled to dividends in each and every year
at the rate of seven per cent OGo) 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 0Go) per annum.
In the event of any liquidation or dissolu-
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.
Iar de and aft nj 20 he ctnc t,nlI ars
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, 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
of this company shall alone be entitled to divi-
dends so long any portion of the said pre-
ferred stock shall be outstanding The
preferred stock Of this company shall not be
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 100 $780, 100000 IDOL
lars, divided into and represented by Two
Thousand (2OO0 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 all the said preferred stock
shall have been retired the common stock
shall constitute the capital stock of said cor
poration and shall have full control of its
and advantages of the holders of stock in
any corporation. The common stock out
standing shall have the exclusive voting
power on all questions before stockholders
meetings.
ARTICLE VI.-All corporate powers of
this corporation shall be vested in ana ex-
ercised by Board of not less than three 90
nor more than five C0 Directors. Until
otherwise provided by the Board of Direc
tors, the said Board shall consist of three
90 members, a majority of whom shall con-
stitute quorum for the transaction Of all
business.
Said Board shall be elected annually, on
the first legal Monday in April. The first
1920, 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-
DoIHe ot., view OrleanS, La. ID. w. Harrell,
925 Nashville Ave, New Orleans, La, who
shall hold their office until their successors
have been elected and have qualified. The
said Board of Directors shall elect from
their number a President, a Vice-President,
and Secretary Treasurer The latter Of
flee may be held by two persons, and the
Secretary need not be a member of the
Board of Directors. Such election shall be
held at the first meeting of said Board fol
lowing their own election. Until their sue
cessors have been elected in 1920, the said
James 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 ma.
jority of the votes cast shall be necessary
to elect to decide any question; each
stockholder shall be entitled to one vote
for each share of common stock standing in
his name, on the books of the company, and
such vote may be cast in person, by proxy
or as provided in Section III of Act No. 267
of 1914. Said Board of Directors shall pro-
vide. by resolution, for the manner and form
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 the
duties, powers and privileges of this corpo-
ration, wherein provided for, including the
issue, registration and certification of its
capital stock, the manner and method of
voting or exercising the stock in other cor
and firms. and shall generally have and en-
ed or usually exercised by Boards of Di- |
rectors under the laws of this state.
Thus done and passed in my office in the
CITY of New Orleans on the day. month and |