The herald. [volume] (New Orleans, La.) 1905-1953, 1921-10-06
CHARTER


,pT1CIE THE name and title OF this
cornorotiou shall be the Southern NoHn
ComDany Inc, and its duration sh". -. -
for a term OF ninety nine (S9) years iioN'
the date hereof
ARTICLE 1.-THE objects ana pulPose
for which this corporation Is Nrneu
hereby declared TO be.
To manufacture, purchase or otherwise
,.u,Iirp import export. lease, sell hnu
generally deal In. musical instruments VI
m kinds and descriptions, ana al sup
plies. articles appliances ana hat ellni
r,.inted thereto. or In any manner neceS-
Sgry or convenient In said business,
TO apply for, purchase or other"lse a.
quire and to dispose OF patents anu up
rights in the United States ana else" nei e
To purchase or otherwise acquire aIi or
any mart of the business, goodwill FlSnt9'
prourrty and assets Of all KINDS ana as
sumo all or any part of tue haDlllties pI
any corporation, association pun 'H,i ~
or person engaged in any business IN, luu
ed in the foregoing purposes ana oDJectS'
To acquire and take over as going con
Germ and TO carry on the business or any
person firm. association or corporation en-
gagged in the business which TINS COrPoIa
ton is authorized 10 carry on ana III con,
ncCtiOn Herewith TO acquire IN" Hoou wiz
and all or any part of the assets ana 10 as
sumo or otherwise provide for all OF an!
of the liabilities of the owner or owners
Of any such business.
To purchase or otherwise acquire real
estate and Ieaseholds. or any interest
therein, in addition to such as may be
necessary for the purposes hertlnpeloTe
eXpr, Ssed, and to own, hold OF improve,
sell and deal in the same so lar as anu
TO the extent that the same may be done
and performed by corporations organized
under the General Corporation Act
To purchase or otherwise acquire real
mixed and personal property of any KINDS
that may be lawfully acquired and heId
by corporation organized under the zen
eral Corporation Act, and IN particular
bonds. eascholds, shares of stock, mort
cages. bonds. debentures and other ST.,
Curitirs, merchandise, book debts ana
claims. copyrights manuscripts; trade
marks, trade names, brands. labels, patent
Caveate an dpatent rights, licenses, grants
and concessions and any interest In real
or personal property.
To sue and be sued: to borrow money;
to make, accept, endorse, execute, and is
bonds. debentures and other obligations:
from time TO time, for the purchase OF
or for any purpose In or about
the business Of the company, and to Sc
cure the payment of any such obligation
by mortgage, pledge, deed rtrust. or
otherwise.
To enter into. make, perform and carry
out contracts of every sort and kind which
may be necessary or convenient Tor the
business of this company, or business of
private. public or municipal,
body polite under the government of the
United States. any State, Territory or
Colony thereof or any foreign government,
Ofar as, and to the extent that. the same
may be done and performed by corpora
ions organized under the General Corpora
ion Act.
To make and use corporate seal.
The foregoing enumeration of specific
Iow ers shall not be deemed TO limit or re-
trict in any manner the general powers of
he corporations, and the enjoyment and
'Xercise thereof, as conferred by the Laws
# the State of Louisiana upon corpora
ions organized under the provisions of
he General Corporation Act.
To do all and everything necessary,
suitable. and proper for the accomplish
nent of any of the purposes or the at
ainment of any of the objects or the |
urtheranCe of any of the powers herein |
'efOre set forth, either alone or associated |
With other corporations, firms or individ |
ials, and TO do any. other act or acts. /
hing or things incidental or pertaining |
o. or growing out of or connected with |
he aforesaid business, or powers, or any |
art or parts thereof, provided the same |
Re not inconsistent with the laws under
ihich this corporation is organized.
ARTICLE III-The domicile of this cor.
oration shall be in the City of New Or |
cans, Parish of Orleans, State of Louis |
ana, and all citations and other legal pro-
rSs shall be served upon the president of |
ence, upon the vice president, or, in case
I the absence of both Of these officers, up
n the secretary treasurer.
ARTICLE IV-The capital stock of this
orporation is hereby declared to be TWEEN
= -four thousand (S2i 600 OO) dollars, which
'ay be increased TO two hundred fifty
1Ousand dollars $3.50, 0OOOO).
said capital stock of twenty-four thous-
nd ts2i OOO) dollars is divided into two
undred forty (2iO) shares of one hundred
100000 dollars each, of which one hun
red (lOO) shares, or an aggregate Of ten
1ousand Sl0,OO000) dollars, are to be
referred stock and one hundred forty
thousand Cs1i.OOOOO) dollars, are TO be
ommon stock. Said capital stock is TO be
ald for as the law provides in cash. or
le same may be issued at not less than
ar in payment or exchange for property
ghts actually received or purchased by
ild corporation in accordance with law
The holders of the preferred stock shall
entitled TO receive dividends at the rate
seven per cent (7To) per annum. pay
PIE seml-ahnually on such dates as may
determined by the board of directors.
II OF any and all surplus or net profits
afore any dividends shall be declared. set
part LOT or paid upon the common stock !
ana dividends on the preferred stock
lall be cumulative, so that If the corpora.
on shall fail In any fiscal year to nav
zen dividends on all of the issued and |
outstanding preferred stock, such detici-
~ tue uNluenus snail be fully paid, |
VI without interest, before any dividend
laII be declared, set apart for or paid
pom the common stock. Subject to the
'regolng provisions, the preferred stock
iaIl not be entitled to participate in any
her or additional earnings or profits of
lie corporation. .
In the event Of the dissolution or lioui-
ition OF the corporation, or the sale of |
| its assets, whether voluntary or inyol-
ntary, or in event OF its insolvency or
~ distribution Of its capital, there shall
, paid to the holders Of the preferred
ock the par value thereof, to-wit: one
ihared dollars $4,000 per share. and /
e amount OF all unpaid accrued dividends
ereon, before any sum shall be paid or !
~ assets distributed among the holders
the common stock; and after the nav. ,
ent TO the holders of the preferred stock
IT'S par value and the unpaid accrued
vldends thereon, the remaining assets !
ID FUNDS of the corporation shall be dt !
ded among and paid to the holders of !
e common stock according to their re-
ectiye shares.
The board of directors may in their dis '
etlon declare and pay dividends on the
ihnon STOCK concurrently with dividends '
the preferred stock for any dividend q
ROO or any fiscal year, when such
Nluends are applicable to the common 4
ock, provided that all accumulated diyi- S
nds on the preferred stock for all pre- |
ous nscai years and all dividends on the Q
eferred stock for previous dividend q
RODS Of that fiscal year shall have been t
Id in full. {
The preferred stock of said cornorat,on y
q the common stock shall have the same ),
ing power, to-wit: one IN vote for each |
are or stock. which vote NAV he cast
me stockholder in person or by proxy I