The herald., 1920-09-02
AMENDMENT TO CHARTER OF SOUTH
PORT MILL, LIMITED.

! iSiana, Parish of Orleans. city OF New or
! leans. Be il known, that on this 18th
! day of the month of July, in the year of
| our Lord. one thousand nine hundred and
twenty and of the Independence of the
| United States of America, the one hundred
! and forty fourth. before me. William j.
GuSte. a Notary Public, duly commissioned
! and qualified. in and for the above parish
| and State, therein residing. and IN the
| presence OF the witnesses hereinafter
/ named and undersigned. personally came
| and appea red. \. -. Grogmegan, President
| of the Southport Mill. Limited. corpora
| ton organized and created under the laws
| of the State of Louisiana by act passed
/ before Charles ". Rossner. Notary Public.
| in and for the Parish of jefferson, state
! of Louisiana. on the 18th day OF December.
| 1908. and duly recorded in Mortgage offlce
| of the Parish of jefferson, State Of Louis
| lana in Book ~. Folio 80, who declared,
/ that ut a special meeting Of the stOckhOld-
| ers OF the Southport Mill. Limited, held at
| the office of the corporation on the 3lst
| day of May. 1920 at which meeting all the
/ capital stock of said corporation was rep
| resented by the holders and owners there
| of. in person or by proxy. it was unani-
] mouSly resolved that Article ii of the
| charter Of the corporation be amended SO
/ as TO read follows:
ARTICLE 1.-THE dOmiCile of this cor
/ poration shall be at the office OF the com
/ pany. in the City of New orleans. Louis
/ lana, aud all citations or other legal pro
! cess shall he served upon any of the fol
/ lowing officers: President Vice President.
I
} urer.
! And that nj such meeting IL was unan-
/ imOusly resolved that Article III of the
/ charter of the corporation be amended so
/ as to read as follows:
ARTICLE HI-The objects and pur-
| poses for which this corporation was ere
! ated are hereby declared to be: To buy
and sell. own. lease and operate oil mills,
| grinding plants, extraction plants, refin-
! cries and such other factories warehouses
| and plants used in connection with crush
! ing and Tor extracting oil and any other
products from all kinds Of oil-bearing
! seeds. beans. nuts, branS, garbage and all
! substances incidental to the manufacture
of edible oils and compounds. as well as
any other kind of oil, soaps and soap
| products: also all kinds Of feeds and fer
| filters mixed or otherwise; also to own
| lease and operate any other kind Of fac.
| tories and Tor engage in any other klnd
! of business. which might be considered to
/ be advantageous TO the corporations lur-
/ Their to buy. sell and deal in all such ar
| ticles and Tor any other article on commits
I sion and for otherwise; also to act as
! agent and Tor trustee for others in per
Torrance of general milling. refining.
| storing and trading business Tor com
! mission. royalty or otherwise, and to Dor
row and lend money i'll connection there-
with: also to borrow and lend money for
any other purposes; also to do general
import. export and trading business in all
articles of commerce. To buy, sell, lease
and operate tank cars and /Or other rail-
road cars. also steamships. barges, steam
boats and boats propelled by any other
power; to buy, sell. lease, operate and de
velOp lands for livestock. agricultural,
mineral and FOR other purposes. expert
mental and otherwise: real estate and
other property, government bonds and
securities. stocks and bonds of other cor
pOratiOns. and to hold or dispose OF same
at pleasure; and generally TO do all things
appurtenant or convenient to or connected
with the purposes hereinabove stated.
And that Mt such meeting it was unan-
A. Of hA
charter of the corporation be amended so
as to read as follows:
ARTICLE IV.-The authorized capital
stock of this corporation is hereby fixed
at four million two hundred thousand (Si,-
200 900. 0O) dollars, to be divided as fol-
lows: Into twenty thousand shares of
the par value of one hundred (SlOOOO) dol
lars each of preferred stock; twenty thous-
and shares of one hundred (SlOO.OO) dol
lars each of common stock and into two
thousand shares of Il common stock of the
par value of one hundred (SlOO.OO) dollars
each. The preferred stock shall receive a
dividend at the rate of six per cent per
annum of the profits of each year. cumu-
lative, and no more, payable in seml-an
nual installments, which dividend shall
be paid in preference to any other claim
out of the net proceeds of this company.
The preferred stock shall be redeemable at
$1,000 after thrifty days notice on any
dividend due date thereon. The holders
of preferred stock shall have no right to
vote nor to take any part in the proceed
ings of the company. The holders of the
common stock shall solely be vested with
the power of electing the Board of Di-
rectOrs and with the control of the com
pany, and in fact shall have all the pow
ers not vested by the charter in the Board
of Directors, and said holders of common
stock shall receive the remainder of the
net earnings of said company or as much
thereof as may be distributed by the Board
of Directors to them concurrently with the
holders of Il common stock. The holders
of common stock shall have no right TO
vote or take any part in the proceedings
of the company nor to sell or dispose of
their stock, and shall have no rights ex-
cept under the following terms and condi-
tons: The Il common stock shall be is
sued to the stockholders, but shall not be
negotiable and shall be redeemable at the
option of a majority of the Board of Di.
rectors of the company ut any time and
in the hands of any holder upon thirty
days notice issued to the holder of record
of said stock at the book value of said
stock, which shall have the same book
value as other common stock, the said
book value to be ascertained from the
semi-annual statement nearest to said call
! for redemption, and said statement shall
be final and conclusive evidence of the
value of said stock when redeemed by the
company. These conditions shall be print
ed on the said Il common stock. The fore
? going authorized capital stock not already
! issued may be disposed of by the Board
of Directors for cash or its equivalent, but
; for not less than its par value.
And at such meeting IL was unanimously
resolved that Article V of the charter OF
! the corporation be amended so as to read
as follows:
\ n