The herald., 1920-07-08
CHARTER.

di,iGend.. at the rate of Ten NO) per cent
Nor onnum. cumulative from and htttr
IuIv l 1870 payable semi annually on Ihe
first day of January and July ot rach year
Lafnrr any dividend is paid upon the com
mo-, stock should the net prOiltS Tor
any wear be- insufficient 10 pay salI pre-
fcrred dividend. or any part Ihereoi al,
unpaid portion shall h "T the Tom m,
rJ shall hr paid in fun out Of Said net
rrnfits before any dividend l. pald nPo
the common stock. After lht pa! Imrnn VI
an accrued dividends upon me prtltrT'I
.tn,L tho common stock shall be thIlIl'h
to dividends at the rate OF len w., /"
cent per anuum. AFTER IN" ,aH i'nI
surh dividends at such rate to tn" common
stu.L the surplus earnings or the company
available for dividends shall hr diNirlnu!|'
equally among the preferred STOCK anu 'h'
common stock. all >torkholdrtN Nh"I
: yIiLr In the event of liquidation or as
I ,nIution of tn" Company or diNtrihuIinh
of H. assets the preferred stock Shall h'
Maid i'm full 10y preference and priority
over the common stock NJ I" It's 'apltal OF
mar value plus accrued and unpaid di\l-
drudS if amy. at the rate OF ten il"' PEI
cent per auuum, before any amount Sn4"
I,. distributed among the owners 81 lh'
,.,r,rrnu stock should Their" b" ANY
surplus then remaining III" same >haII
he. first applied to the common Ht"rh NJ /,
it, ,-.iuitlI or rar value. plus DIVIDENDS al
p ~. rate of ten tlOl per cent Der aunun .
and should there then remain any fur-
thrr surplus. tn" sam" snail T." alvin"
common. share and share alike.
both preferred and common stock shall
Not, upou an rqHlity. each holder OF
share Of stock. whether preferred or com
mon to have one vote.
ARTICLE G-All the corporal" pow
,rs of this corporation shall h" vested III
aud exercised 10y Board of Directors Il
b, composed of not less than fly" or NOR"
tL,,, nine Directors The number of hi
r,rtor> shall he determined at the annual
meeting of the stockholders. but may
changed At any special m''ilnE "I Ih'
. stockholders. properly convened Tor lha'
purpose. \ majority of the directors
. Office shall constitute quorum Tor IN.
. transaction of business. In intervals be
. tween meetings of In" Board Of directors
all the powers of the corporation may lee
! vested in and exercised 10y an "N""uih
committee of not less than three or NOR
than five directors. TO b" appointed h\ IHt
BOARD of Directors.
The following named stockholders shall
constitute the Directors of the COMPANY
. until their successors are elected ana HuAi
flied Frank bowers. bll"m"'ourt ana =.
MurJt Streets New Orleans. William Groh,
BII,mccourt and ). Murat streets New
" Orleans: John W. Phillips. ri camp
Street. New Orleans. Charles Ha"hararh.
Gl2G 81. Charles .Ncnu". New orleans .
William EdpnhOrn. 30 Earounc street.
New Orleans. otto schwartz, Whitney
EuiIdiug. New Orleans. +. Newton k"aruy
81 South Peters Street. New Orleans
W J. Carmicharl. of the foregoing otto
schwartz shall br President. Charles
Earharach. Vice President. and John W
Phillips. Secretary aud Treasurer.
ARTICLE VII, The Directors and orr
GERS herein named shall SrrN" IN
ill ia" next annual meeting OF the
stockholders, ON, III" first first N"a iIi',,,
day in December. l"2O or uuul
. their Successors are elected and quail
fled The annual meeting Of ia" stock
holders for the election of Directors an'
B transaction of general business shall h'
held on the first Wednesday in December
of each year. Due notice Of all stock
holders meetings shall he given lay d"liN
,rng the SANG to each stakeholder. or 10y
drpo>itinC il IN the po>tofficr. addressed
TO each stakeholder ut his. or her. la
known pOst0ffiCc address. or II none h'
known. then To General Delivery. AZ New
Orleans. Louisiana. at least flttctn Jay
before the date of such meeting. pot
election for Directors. a. on all other mat
tiers. each Shar" of the outstanding Stock
whether preferred or common. shall Ice rn
titled to one vote. Any vacancy ocrurrln.
in the Board of Directors shall he filled
by the remaining Directors. even though
no quorum then remains. unless and until
meeting of the stockholders H. held l.
fill the vacancy or vacancies. At any
meeting of the Board of Directors. any
Director absent from the meeting may h'
represented by any other Director, who
NAV east the vote of the absent Director
according TO the written directions, either
general or special. of the said absent III
rector. The Board of Directors shall elect
from their number President and a Vice
President. and they shall likewise elect
but not necessarily from their number.
Secretary and a Treasurer (whO may b'
the same individually and such other off
GERS and such committees as the Buart
may deem necessary. The Board shall
IhaVe power in its discretion to unite TIVE
or more offices and TO confer the SANE
upon one person and II shall likewise have
the power to dispense with any office
which il may find necessary.
| And the said appearerS declared tina
they appeared before me. the underSignc,
Notary, in order that the said amend
,mentS might he established in authenti
. form and recorded and made effective il
accordance with law.
/ Thus done and passed. In my office a
New Orleans. Louisiana. the day
month and year herein first above written
in the presence of George HUFF aud 'i'"rE
. I Perez competent witnesses. who hcr,untt
sign their names with the said aprcarrr
and me. Notary. after reading of m
. whole.
tOriginal >ignedJ Charles Bacharar
d Jnn W. Phillips.
Witnesses: George Huff George Perez
WATTS X. LENERICH. Not. Pub.
\ true copy.
WATTS X. LEvERICH. Not. Pub.
% July S-Aug. L.