The herald., 1919-07-10
AM NDMENT TO THE CHARTER OF
WESTERN NAVAL STORES co.

United States Of America, State of Lou.s -
lana. Parish Of Orleans, City OF New Or
leans. BE II known, that on this 18th day
OF the month Of June in the year OF oar
Lord, one thousand, nine hundred and nine
teen, and Of the independence OF the United
states Of America, the one hundred and
i9rty-thlrd; before me, ". Morgan Gurlev. a
Notary Public, duly commissioned and quail
red IN and Tor the Parish OF Orleans. City
OF New Orleans therein residing, and IN The
presence OF the Witnesses hereinafter named
and underSi gned; personally came and ap
peared, Mr.. John y. Taylor, resident u
TINS City OF tull age OF majority, aud Sec.
rotary of the Western Naval Stores Com
pany, corporation organized under the
laws OF this State, and domiciled in tins
City, created by act of Incorporation passed
gust Il, 1907, and recorded in the Mortgage
office OF this Parish in Book No. $751; Folio
No. $50; which said corporation was orga-
Mzed with a capital stock Of fifty thousand
dollars (S5Op0D); that by a resolution OF
the stockholders legally called and held De
cember 20, 1910 said capital stock was in
creased to One Hundred Thousand Dollars
tSlDUOOO as shown by certificate of the
secretary OF State dated January II, 1911,
and attached to act OF Amendment dated
February y, 1917 in my notarial 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 was increased from
One Hundred Thousand Dollars (SlOOU0OO
to One Hundred and Forty Thousand Dollars
$lROnOO) as evidenced by the certificate
OF the Secretary OF State, dated April IA,
1914 and attached to Act of Amendment
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 $lD,O0000) to Five Hundred
Thousand Dollars tS500,00OO0) 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 ($5OO,OOO.OO to One Million. One
Hundred Thousand Dollars (Sl,lOOOOOOW as
evidenced by Notarial Act of Amendment
to said charter of Western Naval Stores
Company passed before me, the undersigned
Notary, on June "a, 1918;
That said corporation now has a capital
stock of One Million, One Hundred Thou
sand Dollars ($l,lOO,OOOOO divided into
eleven thousand Q1,000) shares of One Hun
dred Dollars ($l00 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 to
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 May
"a, 1919, in conformity with said call.
| That there was present and represented at
said meeting the entire issue of stock OF
said corporation, viz: Eleven thousand d.
OOC) 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 (S6OOOOOOO, to be
divided into six thousand 5000 shares par
value of $1,000 each; thus making a total
| capital stock of this corporation of One Mil
I lion, Seven Hundred Thousand Dollars ISL
70OO000) the increased amount thereof, viz
SIX Hundred Thousand Dollars, (S6O000000)
to be issue of preferred stock entitled 10
dividends of eight per cent. (SqG) per annum
accumulating 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 or 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
| all will more fully appear by certified
copy of the resolution referred to which is
hereto attached and made 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
1919 for the purpose of amending Article "
of the Charter so as to increase the capital
stock of this corporation from $1,lOO,OoO0C
to $1,7OO0OoOO and to authorize the issuance
of cumulative preferred stock.
| Present: w. b. Chilean holding S4t
shares; John H. Kirby, holding $3.50 shares
L. NJ. Aubrey, holding | share; Buckner Chip
ley, holding share; J. A. Taylor, holding
share; D. 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
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
Whereas, Article " of the Charter of this
| corporation provides for the capital stock oil
One Million, One hundred thousand (Sl,100,
OOOOM Dollars divided into eleven thousand
Q10OO) shares of $4,000 each, all of which
has been issued and heretofore paid for il
full; and
| 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 sum of Sl70O,OO00O, the. increased
amount thereof TO be an issue Of preferred
stock entitled to dividends of eight per cent
| (895) per annunl, accommodating from datt
of issue The dividends shall be cumulative
and no dividends shall be declared or pale
on any of the common stock until the unpaid
dividends on the preferred stock have beer
fully paid. The preferred stock shall ais
be entitled, in case of liquidation or dis
solution of the company, after the paymen
the par amount thereof and the unpaid divi
dends thereon, before any amount shall b.
paid to the holders of the common stock an
after the payment of such par and divden
to the holders of preferred stock, all remain
ing assets shall be paid to or distribute
among the holders OF such common stock.
Now. Therefore. be it resolved; That tn
capital stock of this corporation be increase
from the sum of One Million One Hundre
Thousand (Sl,l00OC00O dollars 10 the SUI
| of One Million Seven Hundred Thousan
Dollars (S1.700OOy0O, by the issue Of ST
. thousand 5000 shares Of Preferred Stock a
] the par value of $1,000 each such new stoc
r TO be entitled to an annual dividend OF eigF
r (80d) per cent. for each and every year sam
E may be outstanding and to be preferred. a
z to the par value thereof and all unpaid div
| dends, to full payment out Of the assets
: this corporation over any issue of stock no
e existent, all as more fully set forth in pr
!, amble hereof.
o That the said preferred stock shall be pa
for in cash and be issued and allotted propo
s tionately among the stockholders of tn