The herald. [volume] (New Orleans, La.) 1905-1953, 1921-03-17
CHARTER.
AMENDMENT TO CHARTER OF THE
ZIG ELECTRIC YENIILATING
COMPANY

AMENDMENT TO tHAhI Eh VI IhL
ZIG ELECTRIC yENIILATING
COMPANY
United States of America, State of Lou
iSiana. Parish of Orleans. city OF New
Orleans BE it known, That on the twenty
eighth day of the month of December,
i'm the wear. one thousand. nine hundred
and twenty and of the Independence OF the
United States. the one hundred and forty
fifth before me. Felix J. DreytOu>. notary
,ublic duly commissioned and qualified 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 ). Weis. acting secre-
tary of the Ilg Electric NentilatlnS COM
pany. a corporation organized under the
laws of the State of Louisiana by Act be
fore Lyle Saxon. notary pubic on the
18th day of october. 1906, recorded IN
NJ. q. L. 94S. +. I3l, October l.. l9Ob as
amended by act before Charles +. Fletch-
niger. notary public, on May 3, 1911, reg
i>tered in NJ. .. Il. 1e0l. I. o94. May I,
1911. as amended by act before Charles +.
Fletchinger. notary public. November ;,
1916 registered in NJ. .. l.. 120l. F. 42I.
November O. 1910. said corporation being
dOmiciled in the City of New Orleans who
deClaSed< that by a resolution and vote
adopted and voted at a special meeting
of the stockholders of the Ilg Electric
Nentilating Company. held at the once
of the company in New orleans, LOUIS
lana. on the twenty eighth day of De-
cember. 1920. held by consent of all of the
stockholders of said corporation and upon
waiver of notice of time and place or said
meeting of stockholders more than three
fOurths of the stockholders of record were
present or represented. il was voted unani-
mOusly to amend and re-enact Article "
of the charter of said corporation in the
words and figures hereinafter set out, all
I, fnaAA CON n
the minutes of said meeting hereto an
neXed.
Appearers further declared that they
We're 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 atfording au-
thentic reference and permanent record.
Said appearers further declared that Ar
ticle " 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 this
corporation is hereby fixed at one mil
| lion dollars $1,000. 100000. which may be
| increased TO one million. one hundred
| thousand Isl 100OO0O) dollars, consisting
/ of ten thousand 100000 shares of the par
value of one hundred (slO0OO dollars
| each, of which
| Ndl SHARES OF tnt
| aggregate par value of four hundred
thousand $500 OOOO0) dollars, shall be pre-
ferred stock and;
(b) Six thousand (6.OOO) shares of tn,
| aggregate par value of six hundred thOus
and $500 100000 dollars shall be common
| stock.
(cl The holders of the preferred stool
shall be entitled to receive, and this cor
pOratiOn shall be obligated to pay, out o.
AZ
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 eacl
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 al
of the then issued and outstanding pre-
| ferred stock, such dividend shall be pale
| without interestl out of any future sur
plus and net profits. and no dividend shall
at any time be declared or be paid or D,
| set apart on the common stock unless divi
dends at the rate of seven 90 per cen
per annum shall have been declared anC
paid or set apart up to that time on al
of the then issued and outstanding pre-
ferred stock from the date of its issuance
(d) Upon any dissolution or liquidation
of this corporation whether voluntary o
whether voluntary or Involuntary of al
or substantially all of its assets or upoI
any distribution of capital, there shall b.
first paid to the holders of the preferre,
stock then outstanding, the par valu
thereon, before any sum or dividend shall
be paid or any assets applied on the com
mon stock. After making such paymen
to the holders of the preferred stock tn
remaining assets of this corporation shall
belong to the holders of the common stock
consolidation or merger Of this corpora
ton with any other corporation or cor
porations shall not be regarded as a sal
or as dissolution or liquidation of thi
corporation hereunder.
te) The whole of the preferred stoc
outstanding at the time, or any part there
OF, shall be subject to redemption an
may be redeemed and retired at any tim
out or the surplus and net profits, at tn
pleasure of the Board of Directors, 4
such manner as the Board of Director
may determine, upon giving at least sixt
days prior notice, by mail, to the holder
OF record OF such preferred stock, and b.
paying therefor in cash the par value o
such preferred stock, plus all unpaid divi
bends, accrued and accruing thereon up (
date of such redemption, and in additio
premium of $500 per share for each pre-
ferred share so redeemed. but no such re
demption shall at any time be made o
erected unless all accrued dividends of al
previous Sears have been paid upon tn
the preferred stock then outstanding an
so much of the current yearly preferre
stock dividend as is then accruing or shal
have accrued. shall have been paid or Sc
apart from the surplus or net profits
f) The right to stock dividends an
the right to subscribe for any additions
Issue of common stock is vested exclus ive
~ In the holders of the common stock, {
the exclusion Of the holders of the prs
ferred stock.
| (g) All dividends declared after tn
payment Of the seven ca per cent cumuls