The herald. [volume] (New Orleans, La.) 1905-1953, 1920-11-11
CHARTER
AMENDMENT TO CHARTER OF BE
PUBLIC Bon COMPANY IN''

fourth day of the month OF OCtOOVi, -.
year one thousand nine hundred anu 49,,
bIors mo Charles ROscn, Notary
Public duly commissioner anu puHi',
and in the presence or tue uHueeI
witnesses, personally came anu al IT,
Sigismund s. Levy, Chairman, anu naIlS
TI1Ia Sa,'retary of meeting OF the
ttockboIdrrs of the Republic Box Coh
pany Inc. a corporation OIeahlLDH "a, ~!
ACT before Scott +. Beer, Notary fuolC'
az, ,he twenty-eighth day of August, 1918
ga rocordcd in Mortgage Office of this
parish in Book 1921, Folio 800; which sald
anrearers declare that at a speclal Httt
ing of the stockholders OF saiu TorPO.a
tion. held on this day at Whlch an Oh lLe
sto,k holders were present IN person "
s-,sontsd nv proxy, a certified copy OF
Tho minutes of said meeting being heTeI"
onnexed Article Four OF the CharleT VI
said corporation was amehuSI DS ,1,it.
nous vote so AZ to read as follows lO-MIt
"APTICI,E IV-The capital stock OF TINS
cornoration Is hereby declared 10 De ING '
nm of two hundred thousand lS-VVVVV.vo3
dollars, represented by ~ oI,o Of one
20 OOM shares of the par Nalue OF one
hundred ttlDO0OD dollars per share; OF
which ten thousand (SlOWOVO) dollarS
renresents the original common 'dPI'1i
- beretoforc issued and now outstAhu,
ing. and one hundred and ninety thVuSHnu
ISToo OOO OOl dollars shall represent the III.
crease in the capital stock Inc DodIu VI
directors is hereby authorized 10 tIHHn.t
TO capital as of July lSt' Nv tioia,n ,oI,+t
~
90 nne hundred and thirty thousaHu
IsI3O 600 OOJ dollars and TO issue therTaEI
rs a stock dividend as OF Salu uaS', "u'S
n, 1Q1O one hundred and thirty thousand
ISl2O 600 O0) dollars of SAID increase oi W" o,
hnndreJ and ninety thousand lSlsr'VVV'VV'
dollars: and the Board OF directors j
hereby authorized to issue the reihaluIHS
sixty thousand t&O,OoOco) uouarS Vi So
the outstanding capital stock OF the Guli
Mill & Lumber Company, inc OF Nv
orleans Louisiana, upon the OASIS oi sNHa'
for share. This corporation Is hereoS nu
tborized to exchange up TO-, but not ~
ceedinp seventy thousand SiO,VuVOl uoi-
lars OF the common capital STOCK oI ~ ~
CORPORATION, for seventy thouHanG ~'U,
O1OOOl dollars preferred STOCK OF ms ~ ~
roration and upon the said eNthauEe ue
INC made said common stock shaH De can
ceiled and retired and for that purpose 10
issue seventy thousand G1O.0D.OO) dollars
OF first preferred stock, subject 10 tne ioi-
lowing terms and conditions.
.rho seventy thousand (ST0OO0OO) dol
I.rs 6rst preferred stock. each share OF the
mar value OF one hundred (SlOOOO) doIlars,
shall pay eight (SGe) per cent per Hnh hilh
cumulative dividend and no more ",mnHa
dividend shall accrue from July lst' lV-V,
and no Dayable semi annually on January
LIST and July LIST, beginning January -
1921 This dividend shall be paydDIe wiz
out deduction for any present OF iutui9
ray or taxes Federal State or municipal
ci.rad or paid unless and until all ulNi-
lends due on the first preferred STOCK shalI
have been paid in full. and unless anu ul
tiI no less than ten tlOSc) per cent OF SdIu
preferred stock shall have been retired az
par annually after its date of issue. Inc
cornorstion shall create sinking luhu loT
and shall be obligated to retlre At par
ten QOFoD per cent annually OF the mrs. mrs.
nreferred stock that is TO say. seven
fbousand (S7 OOO0O) dollars OF Sald hrst
preferred stock per year, toEr'htr Win
dividends and shall have the right AT l.e
option in any one year TO retlre at par
twenty (20cc) per cent OF the hrst pr
ferred stock that is. fourteen thousand
1914 10000, dollars. but no more, except
with the consent of three-tourths 70 as oI
the outstanding first preferred STOCK. me
stock so retired shall be cancelled ana no'
re-issued The corporation shall have the
right to issue in its place ana steau any
second preferred or other class OF sloCh'
Droyided such issue of stock shalI De SUP
ordinate to the rights and privileges OF the
first preferred stock. and provided no ad-
ditionaI first preferred stock shali De Is,
sued until the aforesaid seventy tnouSdhu
,S7O.OO0OO) dollars first preferred stSCh
shall have been retired.
"ShouId the capital be increased by the
issue of second preferred stock. said sec
ond preferred stock may be retired from
time to time, provided there shall De no
default on any obligations due TO the hrst
preferred stock. and provided a sumClehI
Linking fund or reserve shall have been
created to pay and retire the next matur-
ing installment Of the nrst prelerreu
stock, and provided further that the re,
tirempnt and cancellation of said second
preferred stock shall not reduce or i'm
pair capitalization Il. e., capital surplus
and undivided profts) OF this corporation,
and its subsidiaries, as existing on July
1st 1920.
Neither the corporation nor any or It's
subsidiaries shall dispose of any OF us
Dropprty or assets owned on July 1st l92U,
in whole or in part, except such dlsposl-
ton of manufactured and raw products as
ia necessary and usual in the ordinary
operation OF its business, unless the CON
sent of three fOurths Is /4s) or the out
standing first preferred stock shall have
been secured. No mortgage, pledge or
hypothecatiOn, either of the stock OF any
of the subsidiaries or OF any OF the I'M
movable properties owned as or July ISL
1920, either of the parent or subsidiary cor
poration shall be made, except with the
consent of threef- ourths { l4s) OF the out
standing first preferred stock
should there be default in the pay
ment Of any dividend of said hrst pre-
ferred stock. or should the corporsantloh
default in the retirement OF said ten (lOFo)
per cent Of the first preferred stock In any
year, and said default continue for thirty
1907 days after written demand on TINS
corporation then the voting power shall be
Invested from the common or any other
class or classes of stock and shall immedl-
ately become, and during such default re
main, vested in the holders OF the hrst
preferred stock exclusively, and the term
of the directors of the corporation then i'll
Office shall Immediately cease, and the
vacancies may be filled by majority OF
the holders of the first preferred stock.
in the event of the liquidation, dissOlu-
ton or winding up of the corporation, for
whatever cause, the holders of the first
preferred stock shall (unlesS seventy-hYe
75%) per cent OF said outstanding first
preferred stock shall have been retired)
have the power to elect number of ltqui-
dators equal to the number of liquidators
elected by all the other stockholders
Should seventy five (T5qo) per cent or
more OF such first preferred stock have
been retired at the time said first pre-
ferred stock shall have the right to elect
one out of three liquidators. Whenever
the first preferred stock shall have been
paid and retired in full in principal and
dividends, then II shall no longer be en-.
and any such liquidator or nquidators
shall thereupon Immediately resign.
I'm the event OF the liquidation, dIssolu-
whatever manner or from whatever cause,
the holders OF the first preferred stock
shall be paid in full the principal and all
dividends accrued to date of payment, in
preference and priority, after which the
entire remainder OF the assets shall be
distributed among the holders Of the com.
mon stock.
Neither the capital nor the capita
stock OF the corporation Except the frs
preferred stock shall be decreased with
out the consent OF three fourths e I4s) o
the outstanding first preferred stock.
Subject to the sabove provisions. tn