The herald., 1919-05-15
CHARTERS
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
| q. Bloch, Notary Public, duly commissioned
and sworn in and for the Parish of Orleans,
| City of New Orleans, therein residing, per
sonally cameo 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
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 1921, Folio 81. held
a meeting of the stockholders OF said cor
poraton 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 unanimously
resolved to amend Article 3 and of the
charter, so 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 3 and of said
charter was made and adopted by the unani-
nous vote 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 amin
utes of the stockholders meeting that Ar
tcle 3 and of the charter of the West Or
| leans Land Co, Inc, were amended so as
| to read as follows
! ARTICLE HI.-The capital stock of this
Forty-one Thousand Five Hundred and
No/lOO (S241. 10000 Dollars, divided into and
represented by two thousand four hundred
fifteen (24l5 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 corporation
until recorded 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 MOI
100 (S4l 10000 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
titled to dividends in each and every year
at the rate of seven per cent 00h) 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 (7Go) per annum.
In the event of any liquidation or dissolu-
tion 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 amonp
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 dav 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-
ferred stock shall be outstanding. The
preferred stock of this company shall not be
entitled to the power of voting upon
ton that may come before 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 (s2OO.OO0OO Dol
lars, DIVIDED into and represented by Two
Thousand (2OOO) 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 stock
| shall have been retired the common stock
| shall constitute the capital stock of said cor
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
standing shall have the exclusive voting
power on all questions before stockholderss
meetings.
ARTICLE VIAL corporate powers Of
this corporation shall be vested in and ex-
ercised by Board of not less than three 90
nor more than five (5) Directors. Until
otherwise provided by the Board of Direc-
tors, the said Board shall consist of three
t5l members, 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
ELECTION under the charter shall be held in
iSzU until which date, the following shall
constitute the first Board of Directors, to-
MI MI: James Kicker: o6s3 Lapage Street, New
orleans. La, A. s. Chenet 4316 So Clai-
borne St, New Orleans, La; D. w. Harrell.
Us 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
their number a President, ViceJPresident.
and Secretary Treasurer The latter Of
tice may be held by two persons, and the
Secretary need not be a member of the
Hoard Il IL,