The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-29
CHARTER.

and share, of one hundred tSlwh"' d"l
lars each uf common stock ana lu'" Nv"
Thousand shares OF Il common ~i"'N OF 'h'
mar y.,Iu. of one hundred tSlW"' HnlllI-
,,,h The preferred stock shall r'.'l'"
dividend M the rat" Of >iN per cent i''
auuum OF the Proill~ OF 't'H E'"'' ."''
latlvr. and no more. pay ahir ~ N'.".' .'.r
IiIfeI EuStaIlwrut~. which dividend ~H'N
h, pgid in preference 10 any Other 'liI"
out OF the net proceeds of TN, '"nI'"H
Thu. prrfrrrrd stock shall b" r"drrlid"h UT
$1,000 after thirty days hoL.r on ,iu'
dividend due date thereon. IN" h"iu'IN
of rrrf.rr,d stock shall HAY" o." TISh' L"
vutr nor To tak" any part ~ me Pi",','
iug> Of the company. Ihr h"id'IN "i l.'
common stock shall solely Ice NtNl'H ~"
r,. ro,y.r of ,l.rtiug the Board 81 ih-
r,,.ror> aud with IN" control OF the com
uauN and i'm fact shall haN" All inc I""
rr> NOT vested by the charter IN the h"'iH
of Directors. and said holders uf 'oHniu""
stock shall receive ia" remainder OF ih'
net earnings of said company or rs ih"'i,
thereof ~ may be- distributed hN Va" l'"ilN
of Directors 10 them rOHrurrcHllN WIN Ih'
holder. of Il common stock. Tn" holders
of T. common stock shan nave no right Z"
vote or take any part in IN" proceeding
of the company nor 10 sell or dl~pn~" OF
their stock. and shall hay" no rl-hiN "N
cent under the following terms aud Cohpi
tioES. The T. common stock shall De l.
sued To the stockholders. hut shall NOT DE
negotiable, and shall b" r"d""mabIc ~ IN"
option OF majority of IA" Hoard "l III
TtttpT~ 81 me company tN EHN 'ii''' ''''''
in the hands uf any holder upon thirty
DAYS notice issued 10 III" holder OF RECORD
Of said stock az III" book value OF N''u
stock which shall have tn" sam" booh
value ~ other common Stock. the Ni!H
book value 10 Ice a~c"rtHiurd from iHr
semi annual statement nearest 10 said call
for redemption. and said statement ~haI
be- final and rOurlu~iy" "Nidrnc" 81 the
value of said stock when redeemed Icy th"
company. Thr~" conditions shall b" pr'pi-
ed On the said Il common stock. The fore
going authorized capital stock not air"ady
ISSUED may b" disposed of by N" f"1rd
of Directors for cash or its equivalent. hut
for not less than it, par value.
And at such meeting il was unanimously
resolved that Article. ' Of the charter of
the corporation be- amended 50 a. {" read
as follows.
ARTICLE Y MI th" corporate powers
/ of this corporation shall b" vested in ana
= br exercised 10y - Board of Directors. &"
: be-. confused of five tIi holders OF com
/ mon stock to he elected annually on IN"
first Monday i'm January OF "H'h year
hereafter or until their successors are
/ elected and qualified. MI such elections
/ shall be- held by ballot and conducted al
/ the office Of the said corporation under
I such rules and regulations ~ may 10" here
. after adopted. At all such elections every
Z holder of common stock shall b" entitled
tn one NOt" for each share of common
/ stock standing in his name on the BOOKS
/ of thu. corporation. to h" cast In @persoh or
F
/ the votes east shall elect y failure 10
/ elect Directors on the date specified shall
Z not dissolve this corporation nor impair
( it, corporate management hut the Dire
tors then in Office shall remain in oiil'r
until their Successors ar" elected ANA quar-
. ifi-d. Three directors shall constitute a
. quorum and shall be necessary to author
. iZr any act 10 D." binding upon this com
/ many ANY Vacancy occurring among th'
. offirrr> or Directors. 10y death. rcSlgud-
ton or otherwise, shall b" filled 10y "lr"-
| ton for the remainder Of the term 10y a
/ majority of the Board present or repre-
. ~cntrd Every Board Of Directors may
! .ln.r from tMcir own numner Err-Llrnt