The herald. [volume] (New Orleans, La.) 1905-1953, 1921-08-25
CHARTER.

| directors. Said dividends shall be cumu
| latiye, and shall be limited to eight pei
| 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 hive 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 corporate
among the stockholders, the par value of
all the preferred stock legally issued and
outstanding shall be paid to the holder 5
thereof, in full with all unpaid dividends,
v.r anv payment shall be made to the
holders OF the common stock.
The board of directors may, at any
time. out of the profits 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 stockholder), 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
the dividends on said stock shall cease
said redemption TO be pr0rated according
to the outstanding stock. No preferred
stock, however, shall be retired until the
expiration of two years from the date
hereof. No dividends shall be paid on the
common stock until all of the preferred
stock has been retired.
In the event of the dissoyurson or liqui
datiOn of the corporation after the pay
ment of the debts of the corporation and
the payment in full of the par value of ali
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
or 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
at all elections of directors or other meet
ings of the stockholders, except on cues.
tions relating to the modification, chang
ing or alteration of this charter or lioui-
dation or dissolution of this corporation
in which cases the preferred stock shall
have 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 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 appeafers further declare that they
do hereby authorize and require said
amendment to be duly Incorporated into
notarlal shape and to be recorded and
puDnshed according to law, to the end
thaI the same may be operative and bind
ing on all persons whomsoever
Thus done and passed in my notarial
ONCE, In the City of New Orleans afore-
said, in the presence of Louis 4. Jung and
! Ohm A. RosadO, competent witnesses of
awful 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. SHERROUSE, Sect.
witnesses: L, Il Jung, J. A. Rosado.
W. w. YOUNG.
Notary Public
L, the undersigned, Recorder of Mort |
cages in and for the Parish of Orleans
STATE OF Louisiana, do hereby certify that
ton of the Atlantic Paint Comnany Trc
was this day duly recorded in nv office
IN BOOK =, folio =.
New Orleans, July %, 1927.
tSignedD: ROBT. SCOTT.
Depty Recorder |
L hereby certify the above and foregoing
20 De true and correct copy of the origi, |
l n act together with the certificate of |
record in my office.
In 1aith whereof. 1 hereunto set nv hand
,nu seal 5na, this twenty-ninth day of July, |
W. W. YOUNG.
,noAson. Notary Public |