The herald. [volume] (New Orleans, La.) 1905-1953, 1920-08-19
AMENDMENT TO CHARTER OF SOUTH
PORT MILL, LIMITED.

iSiana, Parish of Orleans. City Of New Or
leans. BE it known, that on this 18th
day of the month of July. in the year of
our Lord. one thousand nine hundred and
twenty, and of the Independence of the
United States of America, the one hundred
| and forty fourth. before me. William j;
Guste. a Notary Public, duly commissioned
and qualified, in and for the above parish
and State therein residing. and in the
presence of the witnesses hereinafter
named and undersigned. personally came
and appeared. \. II. GrOgmegan, President
of the Southport Mill, Limited Il corpora
tiOn organized and created under the laws
of the State OF Louisiana by act passed
before Charles ". ROSsner, Notary Public.
in and for the Parish of jefferson. State
of Louisiana. on the 10Th day of December.
1905. and duly recorded in Mortgage office
of the Parish of jefferson. state of Louis
lana. in Book ~, Folio who declared.
that at special meeting of the StOckhOld-
crS of the Southport Mill. Limited. held nj
the office of the corporation on the 3lst
day of May. 1920. AT which meeting all the
capital stock of said corporation was rep
resented by the holders and owners there
of. in person or by proxy. II was unanl-
mously resolved that Article ii Of the
charter of the corporation be amended so
as TO read as follows:
ARTICLE 1.-THE dOmicile of this cor
poratiOn shall he at the office of the com
pany. in the City of New Orleans Louis
lana. and all citations or other legal pro
cess shall he served upon any of the fol
lowing Officers: President, Vice President,
Secretary. Assistant Secretary or Treas
urer.
And that at such meeting it was unan-
imously resolved that Article Ill of the
charter of the corporation be amended so
as 10 read as follows:
ARTICLE III.-The objects and pur-
poses for which this corporation was ere
ated are hereby declared to be: To buy
and sell. own. lease and operate oil mills,
grinding plants. extraction plants, refin
cries and such other factories, warehouses
and plants used in connection with crush
ing and /Or extracting oil and any other
products from all kinds of Oil-bearing
seeds. beans, nuts, brans, garbage and all
substances incidental to the manufacture
of edible oils and compounds. as well as
any other kind of oil, soaps and soap
products: also all kinds of feeds and fer
tilizerS. mixed or otherwise; also TO own.
lease and operate any other kind or fac
tories and /or engage in any other Kind
of business, which might be considered to
be advantageous to the corporations; fur
Their. to buy, sell and deal in all such ar
ticleS and FOR any other article on commits
sion and FOR otherwise; also to act as
agent and Tor trustee for others in per
Torrance of a general milling. refining.
storing and trading business for com
mission. royalty or otherwise, and TO bor-
row and lend money in connection there
with; also TO borrow and lend money for
any other purposes; also to do a general
import, export and trading business in all
articles OF commerce. To buy, sell. lease
and operate tank cars and /Or other rail
road cars, also steamships. barges, steam
boats and boats propelled by any other
power; to buy, sell, lease. operate and de
yelop lands for livestock, agricultural.
mineral and/o other purposes. expert
mental and otherwise; real estate and
other property, government bonds and
securities, stocks and bonds of other cor
pOratiOnS, and to hold or dispose or same
at pleasure; and generally to do all things
appurtenant or convenient to or connected
with the purposes hereinabOve stated.
And that at such meeting it was unan-
imOusly resolved that Article " Of the
charter of the corporation be amended so
as to read as follows:
ARTICLE IV.-The authorized capital
stock of this corporation is hereby fixed
al four million two hundred thousand (S4.-
00.O00.O0) dollars, to be divided as fol-
lows: Into twenty thousand shares of
the par value of one hundred (S1OO.OO) dol
lars each of preferred stock; twenty thOus-
and shares of one hundred (SlOOO0) dol
lars each of common stock and into two
thousand shares of Il common stock of the
par value of one hundred (Sl0O.OO) dollars
each. The preferred stock shall receive a
dividend at the rate of six per cent per
annum of the profits of each year, cumu
latiye, and no more. payable in semi an
nual installments, which dividend shall
be paid in preference to any other claim
out of the net proceeds of this company.
The preferred stock shall be redeemable at
$1,000 after thrifty days notice on any
dividend due date thereon. The holders
vote nor to take any part in the proceed
ings of the company. The holders Of the
common stock shall solely be vested with
the power of electing the Board of Di-
rectors and with the control of the COM
pany, and in fact shall have all the pow
ers not vested by the charter in the Board
OF Directors, and said holders of common
stock shall receive the remainder of the
net earnings of said company or as much
thereof as may be distributed by the Board
of Directors to them concurrently with the
holders of Il common stock. The holders
of common stock shall have no right to
vote or take any part in the proceedings
of the company nor to sell or dispose of
their stock, and shall have no rights ex-
cept under the following terms and condi-
tons: The common stock shall be is
sued to the stockholders, but shall not be
negotiable and shall be redeemable at the
option of majority of the Board Of Di.
rectOrS of the company at any time and
in the hands of any holder upon thirty
days notice issued to the holder of record
of said stock at the book value of said
stock, which shall have the same book
value as other common stock, the said
book value to be ascertained from the
semi-annual statement nearest to said call
for redemption, and said statement shall
be final and conclusive evidence of the
value OF said stock when redeemed by the
company. These conditions shall be print
ed on the said Il common stock. The fore
going authorized capital stock not already
issued may be disposed of by the Board
OF Directors for cash or its equivalent, but
for not less than its par value.
And at such meeting IL was unanimously
resolved that Article V of the charter of
the corporation be amended so as to read
as follows:
ARTICLE v.-An the corporate powers