The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-15
CHARTER.
CHARTER OF LEONARD KROWER a

CHARTER OF LEONARD kRON Err a
son, INC.
United States Of America. State of Lou
l>iana, Parish of Orleans. city of New err
leans. T." ii known. That on this. the Srv
"Hth day Of the month OF July. ia III" Veal
ON" Thousand Nine Hundred aud Twenty
Before me. Charles ROseu Notary rub
lie. duly commissioned and qualified In and
for the Parish of Orleans. stat" of Lou
i>iIna, therein residing and IN IA" presence
OF the witnesses hereinafter named aud nm
dcr,igncd. personally came and appeared
tn" several persons, of fun age. Wh">'
names are hrrDUUtu subscribed. who sever
ally declared that aNaiiiug themselves ol
the laws of this state, T"lItlN" to the or
gauizntiOn Of such Corporations mad" and
provided. they do hereby constitute them
selves their associates. Successors and as.
sigus Corporation Tor IA" objects aud
PURPOSES. and under rhc conditions and
Stipulltions of the following articles which
they hereby adopt ~ their charter. town.
ARTICLE Il The name ana llll" Ui
said Corporation shall be. Leonard hruWp
said Corporation shall be. Leonard kro""r
& Son. Inc.
It's period Of duration shall Doe nine
t--Hiuc years from this date.
3. said Corporation shall haN" for thr
purpose of the business to D." carried on
by il all the powers conferred by law upon
CORPORATIONS and shall generally exercise
al the powers necessary to carry on said
business. Said corporation shall have full
power TO contract, su" and hr sued in it,
corporate name. 10 make and Use q cor.
pOrat" seal. and TIA" same To break or alter
81 pleasure. to hold. receive. pure has, rent
or otherwise dispose of property. real. per
Souai and mixed. Ia i>su" bonds. notes and
other obligations. 10 nam" aud employ
such managers. directors, Officers, agents
and other employees as thu interest Hnd
convenience" of the corporation may re-
quire, and t. make ami establish such by
laws. rules aud regulations for tn" man
agemrnt and control of the business aud
affairs OF the Corporation a. may hc
deemed necessary or proper.
ARTICLE IL The domicir Of III"
Corporation shall be- in III" city Of New
Orleans, Parish of Orleans, stat" of Lou
isiana.
>. All citation and other legal process
shall Ice served on the President. or in ease
Of his absence or disability on the
Secretary.
ARTICLE III.-The objects and purposes
for which this Corporation il organized
and the nature of tn" business To h" car
ried on by il are hereby declared To he:
To buy and sell. to manufacture. and to
import and export jewelry. diamonds. pre-
watches. novelties, SilverwIrr and other
wares Of all kinds, and generally all ar
ticles Of merchandise, whether AT wholesale
or retail in this State or elsewhere, and to
do any and all things incidental to or con
nected with said purposes.
ARTICLE W. The authorized CAPT
tai stock Of said Corporation is hereby de
sand $3.50. OOO.OOj dollars. consisting o
seven thousand five hundred $500 shares
of the par value of one hundred (SlOO.Oo
dollars per share, which said capital stock
shall he divided as follows:
. One hundred and fifty thousand
$3.50 10000 dollars, consisting of one
thousand five hundred O.JOOD shares of the
par value Of one hundred (SlOO.mD dollars
per share shall he preferred stock, and six
hundred thousand $500 100000 dollars.
consisting of six thousand 10000 shares
of the par value of one hundred (SlOO.w
dollars per share, shall be common stock.
3. Said preferred stock shall he entitled
to preference and priority over all common
stock, to dividends In each and every year
at the rate of seven (TGCD per cent per an
mum. payable out of the profits or earned
surplus annually on the 18th of March of
each year, as declared by the Board of
Directors. Said dividends shall he cumula
tive. and shall be limited to seven (IfCD
per cent per annnm, and no dividend shall
he paid on or set aside for the common
stock until all the dividends on the pre-
ferred stock shall have been fully paid.
Said preferred stock shall have no voting
power so long as the dividends are not in
default, but in the event of said default.
said preferred stock shall have like vot-
ing power with the common stock. that is
one vote for each share Of stock, so long a.
said default continues. In the event of
the dissolution or liquidation of the Cor
pOratiOn, and in any distribution of the as
sets of said Corporation among the stock
holders, the par value of all the preferred
stock legally issued and outstanding. shall
be paid to the holders thereof, in full with
all unpaid dividends before any payment
shall be made to the holders of the com
mon stock.
T. The Board of Directors may mt any
time, out OF the profits or earned surplus
of said business, retire all or any portion
of said preferred stock upon giving TO the
registered holder or holders thereof thirty
500 days written notice by registered mail
to the last address given to the Corpora
ton (Which notice and delay, may be
waived by any such stOckhOlder), upon
paying to the holders of said stock re- |
tired the par value thereof plus 1907, to- |
gether with all accumulated annual divi- |
dends to the agreed dividends provided in |
this charter, up to the date Of the redemp |
ton Of said stock, after which the divi- |
dends on said stock shall cease; said re- |
demption to be pro rata according to the |
outstanding stock. |
3. The holders of the Common Stock |
shall be entitled to the dividends to the eX- |
tent that same may be declared by the
Board Of Directors out of the net profits |
or earned surplus after the payment of the
agreed dividends on the preferred stock.
In the event of the dissolution or liquida-
ton of the CORPORATION after the payment