The herald. [volume] (New Orleans, La.) 1905-1953, 1920-10-14
CHARTER
AMENDMENT TO CHARTER OF RI
PUBLIC BON COMPANY, INC.

United States of America. stat OF Lou
i,itua Parish OF Orleans. city Of New or
leans. BE- il known. That on TINS. lh'
fourth day Of the month of october. III IN"
wear ON. thousand nine hundred ana tWth-
~, before me. Charles Rosru. Notary
Public. duly commissioned and pudllhrd
and in the preScur" Of tn" undersigned
witnesses, personally came and appeared
Sigi>muud $. Levy. Chairman. aud liarr!
Hardir, Secretary OF meeting OF u"
stockholders of the Republic Box Com
pany Inc. corporation organized by
act before Scott r. Beer. Notary Public,
on the twenty eighth day of August. 1914,
and recorded in Mortgage O1ice of this
Parish in Book 1927, Folio 80, which said
appcarrrS declare that at special meet
ing of the stockholders of said corpora
ton. held on this day, at which all OF the
stockholders were present in person or
represented by proxy. certified copy OF
the minutes of said meeting being hereto
annexed. Article -Four OF the charter of
said corporation was amended by unani-
nous vote 80 as to read aS follows tO-wlt:
ARTICLE IV.-The capital stock of this
corporation il hereby declared TO be the
sum of two hundred thousand $500, OOOOO)
dollars, represented by two thousand
C2OGO) shares of the par value of one
hundred ElOOOOl dollars per share, of
which ten thousand (SlO,UOOOOD dollars
represents the original common capital
stock heretofore issued and now Outstand-
ing: and one hundred and ninety thousand
$3.50 O0000D dollars shall represent the IN
crease in the capital stock. The Board OF
Directors is hereby authorized to transfer
to capital as of July LIST, 1920 profits and
surplus of the corporation to the amount
of one hundred and thirty thousand
$3.50, 10000 dollars and TO issue therefor
as a stock dividend as of said date. July
LIST, 1920, one hundred and thirty thousand
C$l3O. OO) dollars Of said increase of one
hundred and ninety thousand CSlOWO.OOD
dollars; and the Board of Directors is
hereby authorized to issue the remaining
sixty thousand $3.50 O0OOO) dollars of said
increase for the acquisition by exchange of
the outstanding capital stock of the Gulf
Mill & Lumber Company, Inc. OF New
Orleans, Louisiana, upon the basis of share
for share. This corporation is hereby au-
thOrized to exchange up to, but not eX-
ceeding seventy thousand (SIOOOOOO) dol
lars Of the common capital stock of this
corporation, for seventy thousand (SiO-
OGO0O) dollars preferred stock Of this cor
poratiOn. and upon the said exchange be
ing made said common stock shall be can
Celled and retired; and for that purpose 10
issue seventy thousand (ST0,OO0OO) dollars
of first preferred stock, subjec to the fol
lowing terms and conditions:
The seventy thousand (ST0,0000 0) dol
lars first preferred stock. each share of the
par value of one hundred CSl00OO) dollars,
shall pay eight $50 per cent per annum
cumulative dividend and no more, which
dividend shall accrue from July list, l92O,
ana De pHAADle semi -hHnudlll on january
LIST and July LIST. beginning January list,
1921. This dividend shall be payable with
out deduction for any present or future
tax or taxes, Federal. State or municipal
No dividends of any kind shall be de
clared or paid unless and until all divi-
dends due on the first preferred stock shall
have been paid in full, and unless and un-
til no less than ten 00Gc) per cent of said
preferred stock shall have been retired at
par annually, after its date of issue. The
corporation shall create a sinking fund for
and shall be obligated to retire at par
ten UOGo) per cent annually of the first
preferred stock. that is TO say. seven
thousand ($7.O00.0O) dollars of said first
dividends. and shall have the right at its
option in any one year to retire at par
twenty (20Gc) per cent Of the first pre-
ferred stock. that is, fourteen thousand
CSl4,OO0O0) dollars, but no more, except
with the consent of three-fOurths q iSD of
the outstanding first preferred stock The
stock retired shall be cancelled and not
re-iSsued. The corporation shall have the
right to issue in its place and stead any
second preferred or other class of stock,
provided such issue of stock shall be sub.
ordinate to the rights and privileges of the
first preferred stock, and provided no adj
ditional first preferred stock shall be is
sued until the aforesaid seventy thousand
C$1OO0OO0D dollars first preferred stock
shall have been retired.
Should the capital be increased by the
issue Of second preferred stock. said sex
ond preferred stock may be retired from
time TO time, provided there shall be no
default on any obligations due to the first
preferred stock. and provided a sufficient
sinking fund or reserve shall have been
created to pay and retire the next matur-
ing installment of the first preferred
stock, and provided further that the re-.
tirement and cancellation of said second
preferred stock shall not reduce or i'm.
pair capitalization ii. g, capital surpIu.
and undivided profts) Of this corporation
and its subsidiaries, as existing on JULY
LIST. 1920.
Neither the corporation nor any OF H.
, subsidiaries shall dispose Of any of il
property or assets owned on July LIST, 1920
in whole or in part, except such disposi
ton of manufactured and raw products a
is necessary and usual in the ordinar,
operation OF its business, unless the con
sent Of three fourths Is /is) of the out
standing first preferred stock shall hay
been secured. No mortgage, pledge o
hypothecation. either of the stock of an
of the subsidiaries or of any of the i'm
movable properties owned as of July Is
lS2O, either of the parent or subsidiary cor
poration shall be made except with tn
consent of threef ourths 4S) of the out
standing first preferred stock