The herald., 1922-09-21
CHARTER.

(75OO) shares Of the par value or one nun.
| bred dollars (S10O.O0) dollars each al
| of said capital stock to be full paid ana
non aSSeSsabIe.
Separate and distinct certificates shall
| be issued for each class Of stock. Sald
stock shall be paid for in cash, at Such
| time in such amounts and after such no
tice to the subscribers as may be hNed
by the board of directors, and the same
may be issued at not less than par Tor
labor done and property actually receiver
by the corporation.
"The corporation shall not become go
ing concern and be authorized to do bust
ness until seven hundred and fifty thons,
and $3.50. 100000 dollars of its capital
stock shall have been subscribed and paid
for.
preferred stock shall be and is en-
titled to preference and priority over the
common stock in the following manner.
tO-wit: To receive cumulative dividends
at the rate of seven per cent (7%) per
annum, accounting from February l, 1870.
payable in one or more instruments as
the board of directors may determine, be-
fore any dividend on the common stock
shall be paid. and. upon liquidation or
dissolution, whether voluntary or inyOl-
untary, after all of its debts shall have
been paid, the remaining assets, property
and effects shall be applied to the pay
ment of the preferrd stock at par. with
any unpaid dividend accumulation thereon
and before any payment Is made TO the
holders of the common stock; the balance
then remaining shall be divided among
and paid to the holders of the Outstand-
ing common stock pro rata. The common
stock shall be entitled To all net earnings
and profits in excess of the cumulative
dividend of seven per cent 90 per an
mum to be paid on the preferred stock. as
herein provided, but no more than six
per cent (6Gc) dividend in any one year
shall be paid upon the common stock un-
less and until after the payment thereof.
a In
fifty per cent (50T) of the par value OF
the then outstanding preferred stock in
which event dividends in excess OF six
per cent per annum may be paid upon the
common stock.
The board of directors shall have full !
power and authority to redeem and retire |
the whole or any part of the preferred |
stock. on any day on which a dividend |
thereon shall be payable, by paying to
the holders thereof one hundred and ten |
dollars (S11O) per share and accumulated |
dividends. provided that notice of such !
intention be published for ten TO- con
sHcutive days in daily newspaper pub |
hShed in the English language in the |
city of New Orleans, State of louisiana |
the hrst publication to begin at least fif- |
teen 40 days before the date of such |
proposed redemption and retirement; and |
after the time fixed for such redemption. |
upon stock so redeemed or so |
called for redemption shall cease to ac-
crue. If any amount less than the whole |
or the outstanding preferred stock shall |
he retired, then the retirement shall be on
"a pro rata basis 50 that each stakeholder
shall contribute his quota towards the
stock so to be retired.
Roth the preferred and the common
stock OF this corporation shall have equal
voting powers.
The amount to which the capital stock
Df this corporation may be increased shall Il
be the sum of five million dollars $1,000
oO) OF which one-half shall be preferred |
stock and One-half common stock. pro- II
1ided that there shall always be outstand- II
nS an amount of full paid common stock
At least equal to the then outstanding
preferred stock
The said appearers did produce TO me-
notary. to be annexed to and made a part
II This act. a duly certified copy of the
minutes of the meeting of the stock
FOLDERS of said Commercial Credit Com
'any. Inc. held on the Sth day of Septem-
Der. 1922, As hereinabove set out: and I
'aid notary, have annexed the said copy
II the said minutes hereto and made same
part hereof. 4.
Thus done and passed at my Office in
he City Of New Orleans on the day,
month and year hereinabove first written
n the presence of Abraham GOldberk and
faoul Sere Jr., competent witnesses, who
nave hereuntO SigHd their names to-
,ether with said appearers and me- said
ioIary' after due reading of the whole
Witnesses: Original Signed: Abraham
Goldberg. Raoul Sere Jr
ORIGINAL SIGNED)
JAMES ]. \. FORTIER. President.
T.. l.. CHESNEY. Secretary.
NSeaD AL. e. HAMMER
Notary Public
4, the undersigned Recorder Of Mort
,aees. In and for the Parish of Orleans.
rare OF Louisiana. do hereby certify that
ne above and foregoing Act of Amend.
neht OF the Commercial Credit Co. Inc.
vas this day duly recorded in NV offjce'
Book No. 1913. folio 76
New Orleans. September II. 1922.
'Siehed) ROBT. SCOTT
by. Recorder of Mortgages.
. ! hereby certify that the above and
oregoing is a true and correct copy Of
ne original Act Of Amendment OF the
ma nar'er OF Commercial Credit Company.
nc, u passed before me on the 18Th day
= september, 1922, on file and on record
. y my once. together with the certificate
me deputy Recorder of Mortgages