The herald., 1921-04-28
CHARTER.

on the Dist day of March. 1921. at which
LA speciaI meeting all the capltal StOSh
of said corporation was represented DS
the holders and owners thereof IA pei se,i
or by proxy, on motion dul! i Imau r..
onded and carried. II was UNANIMOUSLY ~
solved that Article " of the chaFteT vi
said corporation be amended 10 reau dS
follows:
ARTICLE Iv.-The capital stock Of this
CORPORATION is hereby fixed at sJVo'oVO;UO,
divided into and represented Dy oV"
shares of the par value OF SioOVo each.
said stock shall consist OF TWO classes
n"maly of common stock and of pre-
ferred stock.
Section /. There shall be issued pre-
ferred stock to the extent OF SlVOOoOdVoV;
divided into and represented by l'OOO
shares of the par value OF SlOoOo each
Tbis preferred stock shall be entitled, in
preference to and in priority over the
common stock of this corporation, dlNl-
dend in each year at the the rate Oh Per
cent per annum, payable out OF the prOhts
! of the company. The said stock shall be
entitled to no other or additional dlNl-
dpnd or share of the profits or earnings
/ Of the company. except the aforesaid
| Dpr cent which said dividend shall be
cumulative. No dividend shall be palu on
! the common stock until the aforesaid
| cumulative dividend OF 5 per cent on the
| aforesaid preferred stock shall have been
declared and set aside for payment 10 the
! preferred stockholders. The dividends que
= on the preferred stock hereunder shaIl ne
/ paid by the company without deductloh
! for any tax now or hereafter levied un-
der the authority of the United States or
! of the State of Louisiana or any pOlltlcal
subdivision thereof In the event Oh Iae
liq0idation or dissolution of the corpora
! tion from whatever cause, voluntary or IN
/ voluntary. the holders of the preferred
stock shall be paid by preference IN 1uil'
! over the holders of the cOmman stock, the
par value of their shares, together Win any
/ dividends unpaid, at the rate OF per
cent per annum to the date OF the dlSs0lu,
| ton or liquidation. No voting power ShaII
| he vested in or exercised by the holders
I of the aforesaid preferred stock except
in the event of liquidation or dissolution
of the company, voluntary or involuntary
or in the event of an amendment 10 the
charter of the company. in which event
the holders of the preferred STOCK ShaIl
be entitled to vote In the same manner a.
the holders of the common stock NJ any
meeting. general or special, the Board OF
Directors shall have full and complete
authority to retire the whole or any part
of the outstanding preferred stock upon
setting aside for payment to the holders
of the same $1,000 per share and all div
dendS due thereon. Notice OF such meet
ing shall be given for thirty days, elthti
by publication in a daily newspaper Ol
the City of New Orleans once week dur
- ing said thirty days. or. at the option ol
the Board of Directors, by sending WIFI
ten notice to the stockholders at the last
! known address. Should any of said stock
holders be unwilling to receive the amount
due for retiring the stock. or should th'
address of any of the stockholders De ull
known then in the amount necessary TO re
tire said stock shall be deposited IN any
bank or trust company in the city or New
Orleans, and notice thereof shall De sen
r by registered mail to the last known ad
p dress of the holder of the stock. and II IL
! address is known. by sending II TO Gen
Y eral Delivery. in the City of New Orleans
= From and after the time that the sum du
{ shall be deposited with the bank or truN
company. as aforesaid, the same shall b
mt the entire risk of the stakeholder an,
= all responsibility ofothe company sha
: terminate and all interest OF the stock
| holder shall cease, and all rights an
:, claims of any kind or character agalns
q the company arising out of the holding o
p ownership of the said shares shall ceas'
o should a portion of the said stock onl
b.. retired then the number of shares 5
: retired shall be distributed propOrtionatel
J.. among the holders OF the SAID preierre
f stock. and any fractional share may, q
Y the option of the Board OF directors
q retired by retiring a share, more or les'
as the Directors may determine.
:. Section .. The common stock OF thi
Q corporation is fixed at the sum OF S4Oo
i $4,000. divided into and represented b
i 1000 shares of the par value OF $1,000 eaci
A The Common stock shall be entitled TO a
\ dividends earned and declared by IN
% Board of Directors, subject only 10 III
,e provisions hereinabove set out with r.
L. spect to the prior payment OF DIVIDEND
T TO the Preferred stockholders. In II
event of the dissolution or liquidation fC
= whatever cause, voluntary or invOluntar,
. the rights of the Common stockholders
. sharA in the distribution of the assets {
pl the corporation shall be deferred to Il
rights of the Preferred stockholders
hereinabove provided. All voting righ
re and powers of this corporation shall
vested solely in the Common stock, and ii
;. Common stockholders shall have the so
u right of voting at all elections of dire
" tors or otherwise. The right OF PREFER,
~ Stockholders to vote shall arise only
ie the event of liquidation or dissolution {
~ in the event of amendment to the cha
i ter.
he Section 3. All stock shall be paid fl
te in cash or property, as provided by lay
In or by an issue Of stock dividends out
r the surplus and profits accumulated al
d. undistributed, and in such manner al
o. installments as the Board of Directors m'
as determine, and such stock shall be II
n,
eS