The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-03
CHARTER.
AMENDMENT TO CHARTER OF THE
ZIG ELECTRIC yENTILATlNG
COMPANY

United States of America State of Lou
isiana, Parish of Orleans, City of New
Orleans; Be il known, That on the twenty
eighth day of the month OF Decenhper;
in the year, one thousand. nine hunureu
and twenty and of the Independence or the
United States the one hundred and forty
fifth before me, Felix j. Dreyfous. notary
public. duly commissioned and quallhed IN
and for the Parish of Orleans, state OF
Louisiana therein residing and in the
presence of the witnesses hereinafter
named and undersigned; personally came
and appeared Mr.. Marion Weis, chairman
and Mr.. Frederick 5. Neis. acting secre-
tary of the Ilg Electric Nentilating COM
pany, a corporation organized under the
laws of the State of Louisiana by Act be
fore Lyle Saxon. notary public, on tne
18th day of October, 1905, recorded IN
amended by act before Charles +. Fletch-
niger notary public, on May 3, 1911. reg
istered In NJ. o. b. 1901, I. o94; May +
1911 as amended by act before Charles +.
1916, registered in NJ. o. b. 1901, f: 421.
November o, 1916, said corporation being
dOmicied In the City of New Orleans; VINO
declared that by a resolution and vote
of the stockholders of the Zig Electric
yentilating Company, held at the office
of the company in New Orleans, Louis
lana, on the twenty eighth day of De-
stockholders Of said corporation and upon
waiver of notice Of time and place Of said
| meeting of stockholders more than three
fOurths of the stockholders of record were
present or represented, 1t was voted unani.
mously to amend and re-enact Article Nv
| of the charter of said corporation in the
| words and figures hereinafter set out, all
| of which appears from certified copy or
| the minutes Of said meeting hereto an
| nexed.
4 ~aI fhof knr
! were authorized and directed at said
meeting to appear before me, Notary, and
| to execute the proper notarial act and
| declaration of said amendment, required
by law for the purpose OF affording au-
| thentic reference and permanent record.
| Said appearers further declared that Ar
| ticle Nv Of the charter OF this company
| was by unanimous vote Of all of the stock.
| holders present at said meeting amended
and re-enacted to read as follows:
ARTICLE Iv.-The capital stock of thi:
corporation is hereby fixed at one mil
lion dollars 81 900 0O0.0O), which may b.
increased to one million, one hundred
thousand (S1,1OO.00OOO) dollars, consisting
Of ten thousand 10000 shares of the pal
value of one hundred ($1O0.OO) dollars
each, Of which
(a) Four thousand (4OOO) shares Of tn,
aggregate par value of four hundred
thousand (S4OO. OOOOO) dollars, shall be pre-
ferred stock and;
o. Six thousand (6OO0) shares of tn
aggregate par value of six hundred thous
and ($6O0 100000 dollars shall be common
{ stock.
(c) The holders of the preferred stool
shall be entitled to receive, and this cor
, poration shall be obligated to pay, out o
, its surplus or net profits, cumulative divi
: dends at the rate of, but not exceeding
> seven "a per cent per annum. payabl
in equal semi-annual installments on tn
, | first days of January and July of eac
! and every year, and the same shall b
, paid or set apart before any dividend shall
, be paid or set apart on the common stock
Should such surplus and net profits &C
cumulated at any dividend payment dat
be insufficient to pay such dividend on a.
of the then issued and outstanding pre-
1 ferred stock, such dividend shall be pal
: without interest) out of any future sui
. plus and net profits, and no dividend sha
at any time be declared or be paid or
set apart on the common stock unless divi
: dends at the rate of seven "a per cen
per annum shall have been declared an
paid or set apart up to that time on a
, of the then issued and outstanding pr,
ferred stock from the date of its issuance
b I'D Upon any dissolution or iiquidatio
Of this corporation whether voluntary Q
Involuntary or In the event of a sa
!. whether voluntary or Involuntary Of a
: or substantially all of it's assets. or upo
}, any distribution of capital, there shall /
t first paid to the holders of the preferre
: stock then outstanding, the par Walt
s thereon, before any sum or dividend sha
n be paid or any assets applied on the con
mon stock. After making such paymeI
to the holders of the preferred stock II
:. remaining assets of this corporation sha
belong to the holders of the common stocl
consolidation or merger Of this corpor;
ton with any other corporation or co
2. porations shall not be regarded as a sa
or as dissolution or liquidation of tn
= corporation hereunder.
(e) The whole of the preferred stoe
outstanding at the time, or any part Their
Of, shall be subject to redemption an
may be redeemed and retired at any tin
out of the surplus and net profits, at Il
pleasure of the Board of Directors,
such manner as the Board of Directo
may determine. upon giving at least ski
days prior notice, by mail, to the holde
of record Of such preferred stock, and
paying therefor in cash the par value
such preferred stock. plus all unpaid div
dends, accrued and accruing thereon. up
date of such redemption. and in additit
premium Of $500 per share for each DR.
ferred share so redeemed, but no such r
demption shall at any time be made
effected unless all accrued dividends of 9
previous years have been paid upon Il
the preferred stock then outstanding al
so much of the current yearly PREFER,
stock dividend as Is then accruing or shs
have accrued, shall have been paid or S
apart from the surplus or net profits.
81 The right to stock dividends al
the right to subscribe for any addition
ly in the holders Of the common stock,
the exclusion Of the holders of the pl
ferred stock.