The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-07
CHARTER.

and gas companies, any company DOING
any business in whole or in part similar Ia
| that for which this corporation Is estab-
! liShed, or as may be now or shall here
1 after be permitted by law; to purchase,
| acquire and own any or all OF the prop
| erty, assets, franchises and the STOCKS anu
bonds and other securities of any corpOr-
| alton or corporations organized under tn"
| laws Of this state or of any other state
| for all or any of the purposes herein de-
| fined or incidental thereto and to guar
/ antee the bonds or other obligations and
| dividends on the stock of any of said cor
pOratiOnS; and generally TO do and per-
1 form any and all acts and things and to
/ acquire, hold and exercise any ana all
/ rights, powers, privileges and franchises
as relate to the objects herein set forth,
/ or any of them. or such as may hereafter
/ be- conferred by law upon corporations OF
! this character.
| ARTICLE IV.-The capital stock Of this
| corporation is hereby declared to be and
| is fixed as follows:
Two thousand five hundred (S250OO0)
/ Dollars of preferred stock represented by
/ twenty five (2j) shares of the par value"
! Of one hundred (Sl00O0) Dollars each and
Two thousand five hundred ($2 100000
dollars Of common stock represented by
! twenty-five t2jD shares of the par value
of one hundred ($lOO.OO) dollars each.
The preferred designations. voting
powers. restrictions and qualifications OF
| the preferred stock shall be as follows:
Ht preferred STOCK Sh3ll De entltlcu IN
prefcrenc" to the common stock to diyi-
dendS at the rate Of 10 per annum paya-
BILE quarterly or Semi-annually as tho
board of directors shall determine and
such dividends shall be cumulative from
and after the date of issue thereof. No
dividends shall be declared or set apart
for payment on the common stock until
all dividends then accrued on the preferred
stock shall have been set apart for pay
ment.
In any distribution of assets other than
by dividends from surplus or profits,
whether voluntary or Involuntary, this
preferred stock shall also have preference
over the common stock until the full par
value thereof and 10 per annum thereon
from the date of issue thereof shall have
been paid by dividends or distribution.
The preferred stock shall not receive any
dividends from surplus or profits in ex-
cess of said par value and the amount,
or such accumulated dividends unpaid
thereon, but the common stock alone shall
receive sill further dividends and shares in
distribution.
All but not less than all OF the pre-
ferred stock shall be subject to redemp-
tion at the option of the corporation upon
any dividend date at its par value and
accrued and unpaid dividends therein TO
the date fixed for redemption upon the
vote Of not less than n majority in interest
OF the outstanding common stock. Notice
OF the intention of the company to redeem
the preferred stock shall be mailed thirty
each holder of record of preferred stock at
his post office address appearing upon the
books of the company, and upon the de-
post of the aggregate redemption price
with any national bank or trust company
in the City of New York named in such
notice. payable to the order of the record
holders of the preferred stock on endorse
ment and surrende of their certificates,
said holders shall at the expiration of said
notice cease to be stockholders Upon
any issue OF additional stock of the COM
pany OF any class no holder of Outstand-
ing stock Of any class shall he entitled OF
right by reason of such stock holding to
subscribe for. purchase or receive any
portion Of the additional stock so issued
but the board of directors of the company
may dispose of all or any portion of such
additional stock without offering the same
In the first instance to the stockholders
NJ the company for subscription or pur-
chase.
The preferred stock shall not entitle any
holder thereof to vote at any meeting OF
stockholders or election of the CORPORATION
or otherwise to participate in anv action
taken ny the company of stockholders eN-
cept rs may he required by law: and e1-
cept that If ut any time the accumulated
and unpaid dividends on the preferred
stock to the last dividend date shall equal
seven (SIOO) dollars per share n meeting
of the stockholders for the election Of di-
rectorS shall be called in accordance with
the bylaws upon the request of the hold
erS of record Of ten COc,) per cent or
more of the preferred stock then outStand-
ing. and at such meeting and Mt all other
meetings Of stockholders for the election
Of directors held while any dividends on
said preferred stock to the dividend date
last preceding such meeting, remain unde-
clar"d. the holders Of such preferred stock
ShaiI be entitled to vote along with the
holders of the common stock for the cleo
non OF directors, and for that purpose the
holder OF each share OF said preferred
STOCK snail be entitled to one vote for each
OF said shares held by him: but such right
to vote shall cease whenever all such &C.
cmmulated dividends shall have been de-
clarcd.
This corporation shall be entitled 10
begin business when fifty (JOec) per cent
OF the aggregate Of its preferred and COM
been subscribed and paid for as required
by law.
All stock shall be paid for in cash or
NAV be issued for labor done or services
performed for said corporation or for
pronerty rights actually received by il.
The amount TO which the capital stock
~ this cooperation may be increased by
due corporate action is hereby declared
70 he one hundred million $500 600 600 OOl
dollars and any increased stock now or
hereafter authorized may be of the kinds
or classes herein prescribed or NAV be in
whole or in part of other kinds or classes
or stock which may he created and author
i7ed with such preferences and priorities
III hNluenuS ana liquidation or
otherwlSe over or with respect to any Of
the kinds or classes now created or ~
any time hereafter existing. and with such
designatiOns and voting powes or re-
'strictions or qualifications thereof as may
be prescribed.
ARTICLE N-The cornorate powers NJ
this cornoratiOn shall he vested in and
exercised by hoard of directors TO he
composed Of FIVE C5l Stockholders to be
elected annually at general meeting Of
said stockholders to no held on the third
Tuesday in January Of each wear. A ma ,
1oritv of the board Of directors shall CON
stltnte quorum for the transaction of
business unless the bylaws Of this cor
noration. adopted nv the board Of direc- |
TORS. shall provide for n lesser number.
Notice Of such meeting and of all other
stockholders meetings shall he given in |
the manner prescribed by law. and when
NOT so prescribed. then written notice OF
'nch meetings shall he addressed 70 each
Nockholder Mt his last known place of
residence and deposited in the most o. |
wee nj least Fifteen 40 DAYS before the |
cate or said meeting. postage prepoid |
inc bylaws Of the corporation NAV pro-
Vlde Tor any additional form of notice
At all such elections and Mt all cor.
porate meetings. holders OF common stock
NJ mis- corporation alone shall be entitled |
10 vote. eXCpnt MS hpreinohova nroridoa. /