The herald. [volume] (New Orleans, La.) 1905-1953, 1920-02-05
CHARTERS.

issory notes, bills of exchange. warrants
and other negotiable or transferable In
struments.
90 To issue bonds, debentures, collat-
eral trust notes, participation certificates
or other obligations of this corporation
from time to time for any of the objects
or purposes of the corporation. and to Sc
cure the same by mortgage, pledge, deed
OF trust or otherwise.
"a To maintain an auditing. account
ing, credit, collection, financial and legal
department.
IS To act as agent for insurance COM
panes in soliciting and receiving applica-
;iOnS for fire. theft. conversion, collision,
casualty, plate glass, boiler, elevator, aC-
cidcnt, health, burglary, rent, marine.
! credit, and life insurance. and all other
kinds of insurance, the collection of prem
! iumS and doing such other bushes is
may be delegated to agents by such cOm-
panics, and to conduct general inSur-
ance agency and insurance brokerage busl-
ness, and TO act rs agent for those de-
string to procure insurance.
90 To manufacture, purchase or other
wise acquire, to hold, own, sell. assign.
transfer, mortgage, pledge, exchange, use.
lease, rent or otherwise dispose of, to in,
vest, trade, deal in and deal with goods,
wares and merchandise and real and per
sonal property of every class and de
Scription, and in particular lands. build
inES, machinery. merchandise, business
concerns and undertakings, notes, mort
cages. guarantees. shares, stocks, bonds,
debentureS, securities, concessions produce,
policies, and any interest in real or per
sonal property and any claim against
such property or against any person or
company, and to carry any business,
concern or undertaking so acquired.
UO) To acquire the good will. rights
and property, and to take over the whole
or any part of the assets and liabilities,
OF any person, firm, association, or cor
pOration. and TO pay for the same in cash.
stock or bonds of this corporation or
otherwise.
uD To buy or otherwise acquire, hold.
own, use, sell, assign. invest or trade in,
mortgage, pledge, lease, grant licenses fl,
respect of, or otherwise dispose of Letters
Patent of the United States or any for
eign country, patents, patent rights. H.
censes and pledges, inventions, improve
mentS, and processes. formulate, trade
marks and trade names. relating to or
useful in connection with any business of
this or any other corporation, person.
firm or association.
O2) To enter into, make perform and
carry out contracts of every kind for
any lawful purpose, without limit as to
the amount with any person, firm. asso-
citation or corporation. To pay any obliga-
ton of this corporation in cash, stock.
bonds. collateral trust notes. participation
corporation, or with real or personal prop
erty.
O3) To purchase or otherwise acquire,
hold own, pledge, reissue, and sell its
capital stock, as and when permitted by
law.
04) To have one or more Offices TO
carry on all or any of its operations and
to amount, to purchase or otherwise ac-
quire. hold, own, use, rent, trade in, lease.
mortgage sell, convey, transfer or other
wise dispose of real and personal prop
arf nj nd init In, nv
Of the states. districts. territories or col
onies of the United States and in any and
all foreign countries. subject to the laws
OF such state, district, territory, colony
or country.
Q5) The aforegoing clauses shall be
construed both as objects and powers and
1t Is hereby expressly provided that the
foregoing enumeration of specific powers
shall not be held to limit or restrict in
any manner the powers of this corpora
ton.
O6) In general, to carry on any other
business in connection with the foregoing.
whether manufacturing or otherwise, and
TO have and TO exercise all the powers con-
ferred by the laws of Louisiana upon cor
porations.
ARTICLE Iv.-The capital stock of this
corporation is hereby fixed at seven hun
dred and fifty thousand dollars $3.50, OOO)
divided as follows:
Three hundred and seventy-five thous-
and dollars 1919 0O0) of preferred stock
represented by three thousand, seven hun
dred and fifty 1850 shares of the par
value of one hundred dollars (S1O0) each /;
and
Three hundred and seventy five thousand
dollars (S375,0OC) of common stock rep
resented by three thousand, seven hun
dred and fifty $3.50 shares of the par
value of one hundred dollars ($100) each |;
all of said capital stock to be full paid
and on-assessable.
Separate and distinct certificates shall
be issued for each class of stock Said
stock shall be paid for in cash, at such
time, in such amounts and after such
by the board Of directors, and the same
may be issued at not less than par for
labor done and property actually received
by the corporation.
The corporation shall not become a 60
ing concern and be authorized to do busi-
ness until the full amount of its capital
stock, to-wit, $3.50. 600, shall have been sub
scribed and paid for.
Preferred stock shall be and is entitled
to preference and priority over common
receive cumulative dividends at the rate
of seven per cent CO per annum, account
ing from February /. 1920. payable in one
or more installments as the Board of Di-
rectors may determine, before any divi-
dend on the common stock shall be paid.
and, upon liquidation or dissolution,
whether voluntary or Involuntary. after all
Of its debts shall have been paid, the re-
naming assets, property and effects shall
be applied to the payment of the preferred
stock at par, with any unpaid dividend
accumulations thereon and before any pay
ment is made to the holders of the COM
mon stock; the balance then remaining
shall be divided among and paid to the
holders of the outstanding common stock
pro rata. The common stock shall be en-
titled to all net earnings and profits in
excess of the cumulative dividend of seven
per cent (O per annum to be paid on the
preferred stock, as herein provided, but
no more than six per cent (6) dividend in
any one year shall be paid upon the COM
mon stock unless and until after the pay
ment thereof, there shall remain a sur
plus equal to fifty per cent 500 of the
par value of the then outstanding pre-
ferred stock in which event dividends in
excess of six per cent per annum may be
paid upon the common stock.
The Board of Directors shall have full
power and authority to redeem and retire
the whole or any part of the preferred
! stock, on any day on which a dividend
! thereon shall be payable, by paying to the
holders thereof one hundred and ten dollars
($110) per share and accumulated divi-
dends, provided that notice of such in
tention be published for ten (1O) con-
| secutive days in a daily newspaper pub
lished in the English language in the
City of New Orleans, State of Louisiana.
the first publication to begin at least
fifteen 15) days before the date of such
proposed redemption and retirement; and,
| after the time fixed for such redemption.
dividends upon stock so redeemed or so
called for redemption shall cease to accrue.