The herald. [volume] (New Orleans, La.) 1905-1953, 1920-09-09
CHARTER.

a special reserve fund, out of the net
profits of the company remaining after
all accrued dividends upon the preferred
stock shall have been paid an amount
equal to at least eleven thousand (Sll,-
OOOOO) dollars, for the purposes herein
after provided. If on or before July LIST,
1871, and each year thereafter, any pre-
ferred stakeholder desiring to receive cash
for his stock, shall have sent in bid di-
rected to the Registrar of the stock of the
company, stating the least he will take
for said preferred stock, which shall not
be more than one hundred ten ($ll000l
dollars per share, ii shall be the duty of
the Registrar TO allot, so far as in his
power lies, TO the lowest bidder, so much
of the eleven thousand ISL, 0O0.O0) dollars
reserved on the date aforesaid. as his bid
shall call for, and if his bid shall not
equal the eleven thousand ISL 900 0Oi
dollars reserved on the date aforesaid. and
If the amount of his stock does not call
for the eleven thousand ($11.OO0.OOD dol
lars in toto, the next lowest bidder shall
receive out of said funds his quota and
the next lowest bidder, his Quota until
the entire eleven thousand t$ll .0O0.OO) dol
lars shall have been absorbed in this man
ner. In case two or more competitive cash
bids shall be for a like sum. the amount
of the eleven thousand (Sll ,On.OO) dollars
or such surplus as remains shall be di-
vided equally between the two or more
competitive bidders; or if this cannot be
conveniently done. the Regittrar shall
nave the tight 10 decide Nv iOl winch Ol
the competitive bidders shall receive pay
ment for their stock out of said special
fund. The said reserve fund of eleven
thousand 1911 100000 dollars shall be de
posted by the company ten days previous
to July LIST 1921. and each year thereafter.
with the right to the holders of the pre-
ferred stock to bid therefor so long as
there is any preferred stock outSts ndinc.
If the fund so deposited is not fully alb
SOrbed by bids of preferred stockholders
in any year the amount not absorbed may
be withdrawn by the company after July
LIST of each year.
And said appearer further declared that
he is authorized. empowered and directed
to make and execute all acts necessary to
carry out and effect the said amendment
tary, in order to make proper notarial
record of said amendment and to have
same recorded as required by law.
All of which will more fully appear by
reference TO a certified copy of the minutes
OF the said stockholders meeting. attached
for reference 70 this act of amendment.
Thus done and passed, in my office, at
the City of New. Orleans, State of Louis
iana- on the day, month and year herein
first above written, and in the presence
of Norris Il. Redmann and Paul +. Chasez,
competent witnesses. who have hereuntO
appearer and me, Notary, after due read
ing of the whole.
Original signedD Lucas F. Moore
Witnesses: Morris Il. Redmann, Paul f.
ShaseZ.
WILLIAM ]. GUSTE.
(SealD Notary Public.
| hereby certify that the above and fore
going is Z true and correct copy of the
original on file in the records of my office
at New Orleans, Louisiana.
WILLIAM J. GUSTE.
(Seal) Notary Public.
Sent 2-Oct 4