The herald. [volume] (New Orleans, La.) 1905-1953, 1919-07-31
AMENDMENT TO THE CHARTER OF
WESTERN NAVAL STORES CO.

AMENDMENT TO THE CHARTER OF
WESTERN NAVAL STORES CO.
United States of America State OF Louis
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 our
Lord, one thousand, nine hundred and nine
teen, and of the independence of the United
States OF America, the hundred and
rty-third before me, W. Morgan Gurley, a
Notary Public. duly commissioned and quail
lied in and for the Parish of Orleans, City
OF New Orleans therein residing. and in the
presence OF the witnesses hereinafter named
and undersigned; personally came and APP
peared. Mr.. John A. Taylor, resident Of
this City of full age of majority, and Sec
rotary OF the Western Naval Stores Com
pany, corporation organized under the
laws of this State, and domcied in this
City, created by act of Incorporation passed
before me, the undersigned Notary on Au-
gust 81, 1907, and recorded in the Mortgage
office of this Parish in Book No. $751; Folio
No. $50; which said corporation was orga-
nized with capital stock of fifty thousand
dollars ($50,0O00) that by resolution of
the stockholders legally called and held De
creased to One Hundred Thousand Dollars
CSlOO,W00O as shown by certificate of the
Secretary of State, dated January II, 1911,
and attached to act of Amendment dated
February H. 1917 in my notarisl records;
that, by subsequent resolution of the stock
holders of the Western Naval Stores Com
pany legally held March 81. 1914, the capital
stock of said corporation was increased from
One Hundred Thousand Dollars (Sl00,0O0.OO
to One Hundred and Forty Thousand Dollars
(Slp,0OO00 as evidenced by the certificate
of the Secretary of State, dated April a.,
1914, and attached to an Act of Amendment
of said Western Naval Stores Company
dated February II, 1917, in my Notarial rec
ords; that by subsequent resolution of the
stockholders of the Western Naval Stores
Company legally held February 8, 1917, the
: r fOcl nf
creased from One Hundred and Forty Thou
sand Dollars ($l40OOO.0O to Five Hundred
Thousand Dollars ($5OOO00.0OD 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 /,
was, increased from Five Hundred Thousand
Dollars ($5OO,OOO.OO) to One Million, One
Hundred Thousand Dollars (Sl,l0O,O00O0) as
evidenced by Notarial Act of Amendment
/ Company passed before me, the undersigned
Notary, on June IA, 1918;
! That said corporation now has capital
stock OF One Million. One Hundred Thou
eleven thousand Ql,OOO) shares of One Hun.
dred Dollars $500 each, and said appearer
further declares, that meeting of the stock.
holders of the Western Naval Stores Company
|
this City, after due notice being sent tC
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 May
H. 1919, in conformity with said call.
| That there was present and represented al
said meeting the entire issue of stock Of
said corporation. viz; Eleven thousand a.,
00C) shares who took part in and voted al
said meeting and that said stakeholder.
adopted a resolution to change, alter anC
amend Article ~, of the Charter of sale
corporation, so as to increase the capital stool
of said corporation by addition of 81,
Hundred thousand dollars $500 OO0.OO, to b,
divided into six thousand 5000 shares pal
value of $4,000 each; thus making a tota
capital stock of this corporation of One Mil
70OOO0.0O the increased amount thereof, viz
Six Hundred Thousand Dollars, $500. 10000
to be issue of preferred stock entitled Il
dividends of eight per cent. 800 per annnn
accumulating from the date of issue. Tn,
dividend shall be cumulative and no divi
dend shall be declared or paid on any o
the common stock until the unpaid dividend
of the preferred stock shall have been full,
paid. The preferred stock shall also be en-
titled in case of liquidation or dissolution
of the company, after the payments of all o
its debts, to the payment in full of the pa
amount thereof and the unpaid dividend
the stockholders of the common stock ant
after the payment of such par and dividen,
to the holders of preferred stock, all remain
ing assets shall be paid to or distributes
all as will more fully appear by ce-tifiet
copy of the resolution referred to which i
hereto attached and made a part hereof ant
which reads as follows. to-wit:
"New Orleans, La, May 18th. 1919.
A meeting of the stockholders of the West
office in the Canal Bank Building. New Or
leans, Louisiana, on this 14th day of May
1919 for the purpose of amending Article ~
of the Charter so as to increase the capita
to $1,700,000O0 and to authorize the issuance
of cumulative preferred stock.
Present.. w: B; Chilean holding. s74
shares; John H. Kirby, holding $3.50 shares
ley, holding share; ]. A. Taylor. holding
share; D. B. H. Chaffe, holding / share Al
of the stockholders representing the entir
capital stock issue and outstanding.
Each stakeholder declared that he waive,
: any and all notice of said meeting, whethe
: provided for by the Charter of the Corpora
tion of by general law. Mr.. Chilean acte,
as Chairman of the Meeting and Mr.. Taylo
as the Secretary thereof.
The following resolution was proposed b.
Mr.. D. B. H. Chaffe:
Whereas, Article " of the Charter of thi
corporation provides for the capital stock 20 Q
10000 Dollars divided into eleven thousan,
(1100O shares of $4,000 each, all of whicl
has been issued and heretofore paid for II
full; and
Whereas. for the due carrying out of tn
objects of this corporation. it is desirabl
that the said capital stock should be increase
to the sum of $l,7OO,OOOOO, the increase
! amount thereof to be an issue of preferre
= stock entitled to dividends of eight per cent
$50 per annum, accumulating from dat
of issue The dividends shall be cumuativ
: and no dividends shall be declared or pal
on any of the common stock until the unpai
t dividends on the preferred stock have bee
I fully paid The preferred stock shall ais
be entitled, in of liquidation or dis
solution of the company, after the paymer
= Of all of its debts. to the payment in full {
the par amount thereof and the unpaid div
y dends thereon, before any amount shall b
d paid to the holders of the common stock an
n after the payment of such par and dividen
to the holders of preferred stock, all remain
n ing assets shall be paid to or distribute
r among the holders of such common stock.
e Now, Therefore. be it resolved; That u
J. capital stock of this corporation be increase
l. from the sum of One Million, One HundrC
s Thousand Isl 100000 dollars TO the su
II of One Million Seven Hundred Thousar
h Dollars (S170OOO00O), by the issue of S
lie thousand 5000 shares of Preferred Stock
ID the par value of $1,000 each such new sto
.r TO be entitled to an annual dividend Of Gig
,r (so5) per cent for each and every year sar
&c may be outstanding and to be preferred,
IL to the par value thereof and all unpaid di'
II dends, to full payment out OF the assets