The herald., 1920-09-16
CHARTER
>SpaENr TO CKARTE tTsS 0r PAr-
TIsoN. AUGUST 2SRD, 1920.

hns. Re IL known Ina W ;n 10
sapS d ~ the month OF August, IA ths
arid day 'tbnusgud nine hundred ana
ear. one Of the independence or the
tseDty tos Of America, the one nunureu
Unlted fifth. befOr" ne. fr.N d. uIE ;;
snt iOlg nublic, duly connlSSIoneH auu
8 n SSssd in and FOR tne ond tber'jn re-
QushneSu, ste of Louisiana ana theFtlh
Ieans, s.aS An the presence OF the WIZ
slding anoirafter named and undersigned;
pesses ',. came aud appeared MT: AllreH
PERSONAL President OF fatusph ~
r. Pstu Limited, and Mr.. Charies r.; /
Conpap,' Secretary Treasurer, OF sald
Pstnson, a corporation oFEalI'u unItL
company, o, the state OF Louisiana by |
the laws " " Morgan Gurley. notary |
Act per- FEBRUARY II. l9uS, recorded IN
public VI offire book 81, folio 90, EeD-
Mortgage zoos of the records OF the Far
ruay orleans. said corporation oelhs
sh Of o III the city Of New Orleans.
dOnlci'ess ,oI,red that by q resolution and
Who otaJ and voted at q special meet
yote aoopS Stockholders Of Pattisou x
ing Oh limited held at the once OF
COmpn.yn,o at SO Common street on
the snnfy- first day Of August W. heII
the tSeh;, of an oi the stockholders or
hy consens and upOn waiver OF
sid va time and place or said meeting
BOtce ali stockholders AT when meet
signe1n stockhOlders Of record were pres
Ing s"rerson it was voted UNANIMOUSLY 10
eD.na and re- enact AruvIes -, 80
anenu CIV of the Charter OF said cor
Eve anu en- the words and figures herein
porsuonn, ont. all of which appears from
after ss.tsed COPY Of the minutes or salu
the ~ hereto annexed ana maze part
hereof. 1910. decIorod that they
App"ntborizpd and directed AZ sald meet
We 10 appear before me. NolaIH, an" III, 70
fng he proper Hotarial Act ana deCla-
stecu". Said amend. ent required by law
rsnon " nnrnose OF aIording authentic rel
fol and permanent record.
efenSSss snnearers further declared thar At
Snu three. four. five, ana SIX OF the
SSsrter of this company were pH , uIim.
Cnn us vote Of all Of ne stockholderS
nous "A and re-enacted 10 read as fol
lows: ,., o,5 rrr
An tor which this corporation Is or
poIsd and the nature OF the business 10
es,ried on by 1t are hereby declared
10 be: ali ,,a,a-aI merchandise of
iv,SS hoth for its own account and on
~ hIston both at wholesale and at re-
COM en md TO manufacture articles or mrr,
uii SISa and TO do 4 general import ana
ean,t business. and to that END 10 OuS,
III lease, charter and hlre VesseIS OF
ssi ,, methods OF transportation in con
otn .i., with it's business, to eStabllsh
nee uh or agencies of said business at
@ nIare or places that the Board OF III
.!,ors NAV deem advisable, whether III
70. rni,ed States or in foreign countries
~ buy, sell, lease, suitcase anu nloIt,
es ga estate stocks. bonds or other securl-
ieai os the Board of Directors may de-
,pTycIE Iy.-The capital stock OF this
aaretion is hereby fixed at the sum oil
sSSsnty-ive thousand CS15OOO.OO dollars
s,vided into and represented by seven nun
drsd and nifty b MSSS Sha tsiooon dollars
,sch Said stock shall be OF two classes
nreferred and common.
prTsa amount of preferred stock shall be
.wantv-fiye thousand ($25,OOO.OO) dollars
and such preferred stock shall De ehtitieo
~ preference over the common stock &c
S;v,sends in each and every year at th'
ate az seven ca per cent per annum' De
n;rning August LIST. 1920. payable semi
snnualiy on March l, and october !, oul
~ the net profits, which dividends shai
he cumulative. Upon dissolution or nqIl
Ss,ion the preferred stockholders shall D'
nsid mar value and seven per cent cumu
,.t,vs dividends to date of liquidation 10y
ADHERENCE over common stockholders: M
voting power shall vest in such preferred
stock. .,- hall =,
The amount Of common stock shan o.
sttv thousand $50. 00OOO) dollars, divided
into and represented by five hundred (5OO
shares of the par value of one hundred
yIOOoOO dollars each, twenty thOusan'
U20OOOOO) dollars of which is already Is
sued and outstanding.
The twenty thousand (s20.000.00) dollar
of capital stock which Is already issue
and outstanding shall be surrenaereu an
cancelled, and there shall be issued Il
lien thereof to the holders Thereon, a
eoual amount dollar for dollar OF com
mon stock, according to their respectlV
holdings.
The common stock shall be entitled I
such dividends as the Board Of Director
may declare subject TO the prior payment
OF the cumulative dividends upon the pre-
feyred stock as heretofore provided an
in the event of liquidation or dissolution
the common stock shall be entitled TO a
assets Of the corporation after paymen
Of all debts, preferred stock and cumuit
tive dividends, II any. All voting power
shall be vested exclusively in the CON
mon stock.
The preferred stock may be increase
10 one hundred thousand (S1Oo,OOO0O) do
lars and the common stock may pc IT
creased TO two hundred thousand tS2OO,OVt
dollars All stock shall be issued for cas-
or its equivalent including good will a
authorized by law or may be issued
not less than par In payment for PROF
erty actually purchased or for service
actually rendered the corporation or III
same may be issued fully paid for none
advanced or for such other valuable cor
alteration or services as the Board Of ID
rectors may determine. All capital stoc
not already issued shall be issued at sue
time and upon such terms and CONDITION
as the Board Of Directors shall determin
subject to legal requirements. All stoc
shail be fully paid and nonassessable an
no transfer Of stock shall be binding upo
the company unless recorded upon u
company's books, and prior lien on q
shares Of stock shall be retained by IN
corporation on the stock of any sharehold'
for any Indebtedness secured or unsecure'
however, evidenced or created, due at an
tine to the corporation by the holder
said stock, and all transfers OF stock sha
be made subject to these conditions.
No shareholder of the company shall
any time offer for sale or sell his stoc
preferred or common, either prvately
In the open market without having prev
ously offered said stock at its book yall
TO the other stockholders of this compan
by means Of written communication M
dressed 10 the ranking officer of the con
pany, present in the City Of New Orleal
at the time. Such ranking OFFICER upI
receipt Of such communication, shall, VIII
In FIVE days of the date of such Oher ma
a written notice addressed to each stoc
holder of the company at his last know
address stating the number and cha
acter Of shares so offered and the prl
tnereo1. tallure ny any SUI hhoiuSi
reply within ten days of the date OF sa
communication shall 1e considered as
refusal on his part to purchase any
the stock so offered. Should the numD
Of shares which various stockholders
reply to said notice signify their desire
/. purchase exceed the number of shares IN.
offered. such offered shares shall be dl
tributed to the prospective purchasers
such proportions as the Board or i
rectors deem best. Should said stoc
holder make any sale in violation OF On
clause, same shall be null and void. Ea
share OF common stock shall entitle {
owner thereof to cast one vote either
person or by proxy, at all stockholdei
meeting.