The herald., 1920-10-28
CHARTER.

Hau'.-'~ aud privileges granted "N ..N
10 corporations. gud shall "NI~t for 'hr fH.
term and period of ninety min" years from
this day. l' shall have power % contract.
~, and b., sued To- make and us" cor
p0rtt' seal sud th' same 1" Htrr and
break at pleasure Go hold receive. I".f~'.
purchase. sell gud convey. as well a~ mort
gage. hypoth"rIty and pledge properly
. real. personal aud MIXED. 'urpnr'al aHt
iucorp"rrd. 10 nam" and appoint 81.
manager. directors. officers. agents aud
other IN plUy'r~ IS it, interest and con.
N"uIcucr may require. aul 20 mai" aHd
establish a. we'll a. alter and amend. from
tim, 20 time. such by Laws. rules and r"rI
lntiouS as may be necessary and 'Np"di"nt
for the proper management and govern
meur Of IA" affairs of said corporation.
AETICI = H.. IN" domirilr Of this cor
pOratlou l. hereby hN"d ia III" city a.
New Orleans State Of Louisiana, aud a.i
citation, or other lrgtl process shall pee
served upon the President OF said corpora
ton or. IN his absence, upon it, secretary
ARTICLE III The ohJ'.t- and Ir-.
poses Of this corporation aud 'h" nature
Of the business TO b." carried on hF " ar'
hereby declared 10 be-.
/ TO carry on the business eft. and 20
manufacture purchase and sell paints.
. NaruiShc~. oils. filters. stains cement stains
and cuttiugS. putty. glass ami other sup
plies for painters including marin" paints
- To manufacture. pUTr has AMI -"u
p.r,r and roofing Cf All description. and
any and all chemicals Of all kinds. aud 20
acquire letters patent aud licenses ihrT"-
fore and formulas or recipes for ga" manu-
. fa,turr of paints. NHrul~hc>. OlS. blI"T~.
stains. ,Olor~. "Ham"lS water proof coat
ing~ and compounds. mortar and cement
stains and COallug~. putty. glass aud other
supplies Tor painters including mdFin.
paints. and 20 10 any ana all things and
transact any and an business which Sh1.
OF may Doe or bcrom" incidental 10 or dri~''
ont of or b" connected with such manu-
FEATURING business. or any part thereof. 70
the fullest extent that IA" sam" shall h"
or become allowable or authorized under
any statute aprNrahi" thereto. uuW or
hereafter To b" enforced
Generally To de- al and everything ur.">
-HrN. suitable. convenient or proper Tor
th. tgyomplI ~hmcnt OF auy Of the purposes
or Of any one of tn" objects herein emu.
. mrrat.d or incidental 10 thu powers here.
iu named or which shall AT any time APP
? pear rOudu,tly" or "Np"di"ut 10 the pro.
. t,-'tiuu or beuefIt OF th, corporation. either
+ ~ holders or, or Interested ia amy prop.
crty or otherwise with an powers nov
or hereafter conferred 10y the laws of iH"
Stale OF Louisiana upon corporations or
Eanilrd under the A,t herein referred TO-
This corporation shall have III" power
10 conduct it, business IN all Of IT. branch
- in any Of the States. Territories or
possessions Of the nircd States, a. We'll
a, in foreign countries. and may have"
one or more offices outside Of the state of
Louisiana.
. ARTICLE " Tn" authorized capital
stock of this corporation Is hereby nN"d
90 co. dollars, represented by thrc" thou~-
and tive hundred shares. which said "all.
tai stock shall be- divided as follows q.
Twenty i've Thousand dollars consisting Of
twenty -tVr hundred shares OF the par Ndlu"
of ten $1,000 dollars per share shall br
preferred stock and on" thousand dollars
consisting of one thousand shares 81 The
par value OF one dollar per share, shall h''
/ common stock. Said preferred stock shall
b" entitled 10 preference and priority oN"I
all common stock, to dividends IN each ana
every year at the rate of eight per cent
. per anuum. payable out 81 tn" prOnlS or
earned surplus annually Oh the first day
of January Of each year. rs declared
the Board of Directors. Said dividends
shall be cumulative, aud snail be limited
to eight per cent per annum, and no diNl-
bends shall be paid on. or set aSid" Tor
the common stock until all IN" dividends
. on the preferred stock shall haN" been
fully paid. Said preferred stock shall nave
, no voting power.
/ In the event Of the dissolution or hpui
datiou of the corporation. and il any di>
trhutiOn OF the assets Of said corporation
among the stockholders, the par Vri..
all thu. preferred stock legally issued am
outstanding shall be paid TO tn" holder,
thereof in full. with all unpaid dividends
before any payment shall be mad" TO thu
holders Of the common stock.
The Board OF Directors may, al any time
out Of the profits or earned surplus of sand
corporation. retire all or any portion oi
said preferred stock on giving to the reg
istrrcd holder or holders thereof thirty
DAYS written notice by registered mail tC
the last address given TO the corporation
(which notice and delay may be waived
10y any such StockholdcrD. upon pay
mcnt to the holders OF said stock 50 re
tired the par value thereof, plus ten pei
cent together with all accumulated an
nual dividends 10 the agreed dividends
provided in this charter. UP 10 the date OF
the redemption OF said stock after which
the dividends on said stock shall cease
said redemption 10 he pro-rated accord
ing TO the outstanding stock. No preferred
stock. however. shall be retired until the
expiration of two years from the date
hereof No dividends will be paid on the
common stock until all of the preferred
| stock has been retired.
In the event OF the dissolution or liqui-
I datiOn OF the corporation after tn" pay
/ ment of the debts of the corporation and
the payment in full OF the par value ot
the preferred stock legally issued and out
/ standing. together with all accumulated
and unpaid dividends thereon, the entire
remainder of said assets or said corpora D.
ton shall be divided among the holders OF
the common stock, legally issued and out.
standing, in proportion TO their respec-
tive holdings.
All voting power OF the corporation shall
be vested exclusively in the common stock
at all elections Of directors or other meet
ingS Of the stockholders. except on Gues-
tons relating TO the modification, chang
ing or alteration of this charter. or liqui-
in which cases the preferred stock shall
have like voting power az the common
stock, that is, one vote for each share o.
stock.
No amendment to the charter shall be
passed which shall impair the rights of
the preferred stockholders as hereinabove
1 provided.
| No stakeholder shall have the right 20
| sell or otherwise dispose of his common
stock in this corporation TO any person
| other than stakeholder thereof, without
first offering IL in writing for thirty days,
through the Board of Directors, TO the
other holders Of common stock at its
book value. determined by the last pre-
| ceding inventory.
/ ARTICLE V.-ThIS corporation shall be
| a going concern as soon as Sl3OO0OO Of the
capital stock has been subscribed for,
which shall be paid for in cash or its
equivalent.
/ ARTICLE VI-The capital stock Of this
corporation may be increased to fifty six
thousand t$J6,OOOO0l dollars. that is. the
preferred stock may be increased to fifty
thousand $50 900 O0l dollars. and the com
mon stock may be increased to six thOus-
and (S6,OO0OO) dollars, and the preferred
I stockholders shall have the option Of sub
/ scribing TO the preferred stock in proper
ton to the preferred stock then owned by
them, and the common stockholders shall
have the option of subscribing to the com
mon stock in proportion TO the common
stock then owned by them
ARTICLE NII-The business and Affairs
OF this corporation shall he managed and
all the corporate powers thereof shall BE-
vested in and exercised by n Board Of not
less than three 90 nor more than five 81
directors. to be elected from among the
stockholders. and majority of the hi
rectOrs at any time in Office, either present
in person or represented by proxy. in
Guiding the President and other officers