The herald., 1921-09-08
CHARTER.


= resolution adopted NJ general ur.r
| iug of the stOckh Olders Of said rrrrgg.
| lion. held at its domiDi!e ia this .iJy. or
thr tNyrutv-siNth day of July, 1927. % ..r.
! titled extract of the minutes of said u-.r
ing being hereto annexed anu iHd. part
/ hereof.
And said appcarors declared That m sal.
! meeting of the stockholders OF -.I. COP
poratiou. the charter of the said Atlantic
| Paint Company, Inc, was amended sE Dr..
! rrrasiug the capital stock OF said rp~r.r4
! tiDu TO the sum Of IIity-sIX Thousand .sEr.
! 10000 Dollars, and that they. said .u
p,ar,rs, were duly authorized and .u
! poyyrrod to cause said ImeHGH.Hr .r tI.
/ charter of the said Atlantic Paint Juu
pauy, Inc, to he embodied ia uotar..
act.
! Now. therefore in areorIar~s with sal.
! resolution they, the said arpcarag-. ..flu-
! in their aforesaid capacities, having au
uparrd before me, notary, for the Turu.-.
, of placing said amendment Co tire .l4r-,.
| of said Atlantic Paint Company. Ir..- U
authentic form by uOIarial act 90 u.H- g..
! clare that article ~ OF said corporation
I De. and the same is hereby amended. su o..
| hereafter to be and read as follows to-
wit:
| ARTICLE IV.-The authorized capita
/ stock Of this corporation is hereby fixed
! at the sum of hfty-SlN lhu3-aEI |s.g.
! JnbuO dollars represented ~ eleven tua.-.
| aud shares, which said capita. stock shall
/ Dee divided as follows: Fifty thuu-.uI
| dollars consisting of five thousand shares
| II the uar value Of ten dollars iSlUvu.
Der share shall be preferred stock and six
| Thousand dollars, consisting OF six thou.
and shares of the par value Of one dollar
| per share shall be common stock. Said
| preferred stock shall be entitled 10 prefer
! ence and priority over al common stock
| to dividends in each and every year III the
rate of eight per cent. per auuuW. pay
able out of the profits or earned surplus
annually on the first day Of January Of
I Itv b.. &
directors. Said dividends shall be cumu-
lativr, and shall be limited to eight per
cent. per annum, and no dividends shall
be paid on, or set aside for, the common
stock until all the dividends on the IRE
ferred stock shall have been fully paid.
Said preferred stock shall h-ve no voting
power.
In the event Of the dissolution or liqui-
dation of the corporation, and in any dis
tribution Of the assets Of said corporation
among the stockholders, the par value of
all the preferred stock legally issued and
outstanding shall be paid to the holders
thereof, in full, with all unpaid dividends,
.. core, ANY payment shall be made to the
holders of the common stock.
The board of directors may, at any
time. out Of the protts or earned surplus
of said corporation, retire all or any por-
ton of said preferred stock. on giving to
the registered holder or holders thereof
thirty days written notice by registered
mail to the last address given to the cor
poratiOn (which notice and delay may be
waived by any such stOckhOlderD, upon
payment TO the holders of said stock so
retired the par value thereof, plus ten per
cent. together with all accumulated an
nual dividends to the agreed dividends
provided in this charter, up to the date of
the redemption of said stock, after which
th. dividends on said stock shall CeaS f,
said redemption 70 be prOrated according
to the outstanding stock. No preferred
stock, however, shall be retired until the
...t,. lion Of n. dor.
hereof. No dividends shall be- paid on the
common stock until all of the preferred
stock has been retired.
In the event of the dissoTunon or liquj-
datiOn of the corporation after the pay
ment of the debts of the corporation and
the payment in full of the par value of all
the preferred stock legally issued and out
standing. together with all accumulated
and unpaid dividends thereon, the entire
remainder of said assets of said corpora.
ton shall be divided among the holders
of the common stock, legally issued and
outstanding, in proportion TO their re-
Spective holdings.
All voting power of the corporation shall
be vested exclusively in the common stock
ut all elections of directors or other meet
ings of the stockholders, except on Ques.
tions relating to the modification, chang
ing or alteration of this charter, or hqui-
dation or dissolution of this corporation,
in which cases the preferred stock shall
have a like voting power as the common
stock, that is, one vote for each share
of stock.
No amendment to the charter shall be
passed which shall impair the rights of the
preferred stockholders as hereinabOve pro-
vided.
No stakeholder shall have the right to
sell or otherwise dispose of his common
stock in this corporation to any person
other than a stakeholder thereof, without
first offering it in writing for thirty days
through the board of directors, TO the other
holders of common stock, at its book
value, as determined by the last preceding
inventory
Said appearers further declare that they
do hereby authorize and require said
amendment to be duly incorporated into
nOtarial shape and to be recorded and
published according to law, to the end
that the same may be operative and bind
ing on all persons whomsoever.
Thus done and passed in my nOtarial
Office, in the City of New Orleans afore-
said, in the presence of Louis E. Jung and
John y. Rosado, competent witnesses OF
lawful age, residing in this city, who here
unto subscribe their names, together with
said appeares and me, Notary, on the day
and date set forth in the caption hereof.
ORIGINAL SIGNED:
J. RAYNAUD. President
JULIAN NJ. SHRRROUSE, Sect.
Witnesses: L. E Jung, J. A. Rosado.
w. W. YOUNG,
Notary Public.
/, the undersigned, Recorder of Mort
cages. in and for the Parish OF Orleans,
State of Louisiana, do hereby certify that
the above and foregoing Act of Incorpora-
ton of the Atlantic Paint Company, Inc
was this day duly recorded in my office,
in Book -, folio -
New Orleans. July 90, 1921.
(Signed): ROBT. SCOTT,
Depty Recorder.
hereby certify the above and foregoing
10 be true and correct copy of the Origi-
nal act. together with the certificate OF
the Recorder of Mortgages, on file and OF
record in my office.
In faith whereof, hereunto set my hand
and seal. this twenty ninth day of July,
y. II. 1921.
W. W. YOUNG,
Notary Public.
Aug+Sept. s.
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