The herald., 1920-09-16
CHARTER.

special reserve fund, out of the net
profits of the company remaining after
all accrued dividends upon the preferred
stock shall have been paid an amount
equal TO at least eleven thousand ($ll,-
0O0.00) dollars, for the purposes herein
after provided. If on or before July lst
1921, and each year thereafter, any pre-
ferred stakeholder desiring to receive cash
for his stock, shall have sent in bid di-
rected to the Registrar of the stock of the
company, stating the least he Will take
for said preferred stock. which shall not
be more than, one hundred ten (SllOOOl
dollars per share, il shall be the duty Of
the Registrar to allot, so far as In his
power lies to the lowest bidder so much
of the eleven thousand CS1l,O00OO) dollars
reserved on the date aforesaid. as his bid
shall call for. and if his bid shall not
equal the eleven thousand (SllOOOOOl
dollars reserved on the date aforesaid, and
if the amount of his stock does not call
for the eleven thousand tSll.UOOOO) dol
lars in toto, the next lowest bidder shall
receive out of said funds his quota, and
the next lowest bidder, his quota, until
the entire eleven thousand (Sll,OOOOO) dol
lars shall have been absorbed in this man
ner. In case two or more competitive cash
bids shall be for Il like sum. the amount
of the eleven thousand ($ll.OOO.OOl dollars
or such surplus As remains shall br dl-
yided equally between the two or NOR"
competitive bidders; or If this cannot be
conveniently done the RcgistTaF shall
have the right to decide by lot which of
the competitive bidders shall receive pay
mpnt for their stock out Of said special
fund The said reserve fund of eleven
thousand (S1lOO0OOD dollars shall be de
posted by the company ten days previous
to July LIST, 1921. and each year thereafter,
with the right to the holders of the pre-
| ferrcd stock to bid therefor 80 long as
| there is any preferred stock outstanding
! If the fund 80 deposited il not fully alb
| Sorbed by bids of preferred stockholders
| in any year the amount not absorbed may
/ be withdrawn by the company after July
| LIST of each year.
| And said appearer further declared thai
| he is authorized. empowered and directed
| to make and execute all acts necessary tC
! carry out and effect the said amendment
and he does now appear before me. No
tary. in order TO make proper notarla
record of said amendment and to have
same recorded as required by law.
All of which will more fully appear 10y
| reference to n certified copy of the minute
| of the said stockholders meeting attached
for reference to this act of amendment.
| Thus done and passed. in my office. a
the City of New Orleans, State of Louis
lana on the day, month and year hcretl
first above written. and in the presenc
of Morris Il. Redmann and Paul +. Chase
competcnt witnesses, who have hereunt
signed their names. together with IN" SAT-
appearer and me, Notary after due read
ing of the whole.
GOriginal signedD Lucas f. Moore.
) Witnesses: Morris i. Redmann, Paul /
Shasez. ,,,.,,,,,,
(SeaID Notary Public.
| hereby certify that the above and fore
going is true and correct copy Of I'll
original on file in the records Of my oftic
at New Orleans, Louisiana.
WILLIAM ]. GUSTE.
(SealD Notary Public.
. Sent. Loot.