The herald., 1921-07-21
AMENDMENT TO CHARTER OF THE
PAN-AMERICAN FURNITURE
FACTORY, INC.

United States of America, State of Louis
lana, Parish of Orleans, City of New Or
leans. Be il known, that on this 9Th day
Of the month of July, in the year of Our
Lord One Thousand, Nine Hundred and
Twenty-one, and of the Independence of
the United States of America the One
Hundredth' and Forth Fifth. Before me,
William J. Guste, a notary public, duly
commissioned and qualified, in and for the
above Parish and State, therein residing,
and in the presence of the witnesses here
matter named and undersigned, personally
came and appeared: a. c. Jacobs and T.
L. Samuels, both of lawful age and resi-
dents of this city and state, and herein
appearing in the capacity, respectively OF
president and yice-president, OF the ran
American Furniture Factory, Inc, cor
A Schuber, notary public, on February
9Th, 1916, recorded in NJ. o. b. 11so. Folio
IA which charter of the said corporation
was amended by act passed before Theo-
dore A. Schuber, notary public, July 18th,
1915 recorded in NJ o. b. 1920. Folio -.
Who declared, that at a special meeting
of the stockholders of the Pan American
Factory, Inc, held at the City of New Or
leans on the 9Th day of July, 1871, all OF
the capital stock of the corporation being
present or represented, on motion duly
made and seconded and carried, 1t was
unanimously resolved that Article III OF
the charter of said corporation be amended
so as to read as follows:
ARTICLE III-The capital stock of this
Company is hereby fixed as the sum OF
One Hundred and Thirty Thousand ($130,
OOOOO) Dollars, to be represented by Six
Hundred and Fifty (650) shares of Pre-
ferred Stock of the par value Of One Hun
dred ($10O.O0) Dollars each and six hun
dred and fifty (65O) shares Of common
stock Of the par value of one hundred
($1OO O0) dollars each, said stock to be pay
able at such times and in such install
ments, as the board of directors may de-
Of fool hal 10
cash or in property as provided by law.
The capital stock of this corporation may
be increased to the sum OF Two Hundred
and Fifty Thousand ($25OOO0.0O) Dollars
as soon as the sum of Sixty-Fiye Thousand
(s65, OO0.OO) Dollars has been subscribed
for and paid.
The other conditions, limitations and
provisions under which the preferred stock
shall be issued are herafter enumerated
The holders Of the preferred stock shall
be entitled to receive out of the net profits
Of the corporation, a fixed dividend OF
seven t79o) per cent: per annum, payable
semi-annually, to-wit: On the first day OF
January and July of each year, before any
dividend can be paid or set aside on oil
for the common stock for the period there
| tofore elapsed. The principal or par value
| Of said preferred stock, with cumulative
dividends thereon at seven per cent. pei
annum from the date dividend should hav'
been paid, shall be paid in full out of thu
4 assets Of the company, in preference Il
any of tn common stock in the event o
| liquidation of this corporation from an!
cause, and before any distribution can b
| made Of the capital among the holders o
| the common stock. The dividends upol
| the preferred stock are to be cumulative
| and bear six 1891 per cent interest from
maturity date as herein provided, com
| pounded annually, so that II for an,
| period or periods, the said dividends ar
4 not paid, the right thereto shall cumulat
1 against the common stock; and all arrear
i Of such dividends so accumulated and In
1 terest thereon as herein provided, mus
be paid before dividends can be paid o.
the common stock. The preferred stoc
| shall not be entitled, however, to partici
| pate in any other earnings. dividends o
| profits. The right Of the holders of pre-
| ferred stock to be credited with dividend
| shall commence from the date of actua
| payment of such stock.