The herald., 1922-04-06
CHARTER.

to by the stockholders Of said company
present and voting that ARTICLE ~
OF the original act of incorporation OF
said company should be so changed, al
tered or amended as to hereafter read
! and be as follows, to-wit:
| ARTICLE Nv. The capital stock Of
this corporation is hereby fixed at the
sum of One Hundred Thousand Dollars
| CSlOO,OOO.OO), divided into nine hundred
shares of preferred stock of the par
value of One Hundred Dollars each. and
one thousand shares Of common stock OF
the par value of Ten Dollars each max
ing a total Of nineteen hundred shares.
The holders of the preferred stock shall
be entitled to, and shall receive from
the surplus or net profits of the cor
pOratiOn yearly preferential cumulative
dividends at the rate of six per cent g
per cent? per annum, payable quarterly
half yearly, or yearly, as may be deter
mined by the Board of Directors, before
any dividends shall be set apart or paid
on the common stock
Dividends shall not be paid on the
common stock except when all guaran-
teed dividends to which the preferred
stock is entitled at full rate to date have
been paid or set apart for payment
should there be an excess of profits over
y per cent, then One-quarter of said eN-
cess profits shall be further applied as
prohts on the preferred stock. and the
remaining three-quarters Of such profits
shall be applied as profits on the common
stock.
In the distribution Of assets upon lioui
datiOn other than profits there shall be
paid, so far as the same will go-frst.
upon the preferred stock the amount of
the par thereof. and the amount of the
then unpaid dividends, if any; next,
should there be further assets for dis
tribution, one-quarter thereof shall be
paid upon the preferred stock, and the
remaining three-fourths thereof upon
the common stock.
All voting powers of this corporation
shall be vested In and exercised by the
common stockholders exclusively, and in
all elections of directors and otherwise
the holders of preferred stock shall have
no voting power.
In the event of liquidation or dissolu.
ton OF the corporation and in the in
crease or decrease of its capital stock
and under such circumstances only, the
owners Of the preferred stock shall have
the same voting power as the holders of
the common stock. This corporation
shall commence business and be a going
concern as soon as Fifty Thousand Dol
lars of its capital stock shall have been
subscribed. The capital stock of this
corporation may be increased to the sum
of Two Hundred and Fifty Thousand
Dollars (s25O, 0Oo.O0) by increasing either
preferred or common stock, or both, pro.
vided holders of two-thirds Of the stock
OF the corporation so determine. at a
special meeting called for that purpose,
or at a regular annual meeting of the
During the time preceding
such meeting to increase the capital
stock the stockholders shall have the
of taking additional shares in
the proportion which the shares held by
them bear to the capital stock of the
any such shares not taken at that time |
may be disposed of by the directors, In |
their unrestricted discretion, for the ben. |
eft of the corporation, at not less than |
their par value. All stock shall be paid |
for either in cash, in property conveyed |
TO the company, or for services rendered |
as provided by law, In such manner and |
as the Board of Directors
may determine. and such stock shall be
full paid and non assessable The Board |
Of Directors is hereby, in its discretion,
to declare and issue stock dividends.
No common stakeholder shall have the
right to sell any of the shares held by
him without first offering the same, In
writing to the corporation, through Its
shall have the privilege of purchasing
said shares within thirty days there
lfter. for cash, at their book value eac
,ording to the inventory last made.
And the said appearers in their said
respective capacities further declared
hat under the authority IN them vested
Is President and Vice-President, respec-
lively, of the said company, by the afore-
said resolution passed and adopted at
he said meeting Of the stockholders of
said company, they, said appearers, de-
Jared in their said several capacities for
Ind on behalf of said company that
ARTICLE Nv Of the original act of in
corporation of said company. passed be-
ore BENJAMIN DRY, Notary, dated
Nay 9 1921. has been modified, changed
Ind amended so as to hereafter read, and
md set forth; and that they hereby au
horize and require the recording and
publication Of said amendment and alter
ltion in the manner required by law, to
he end that the same shall hereafter
Ind at all times be binding upon the
present members and stockholders OF
aid corporation, and all such person or
PERSONS who may hereafter become such.
Thus done and passed in my office at
Sew Orleans, La, on the day, month and
'ear first before written, In the presence
# Miss Sophie F. Gerken and Miss Marie
label Delhomme, both competent wit
lesses of lawful age. residing in this city
md parish, who have hereunto signed
heir Names together with the said ap
'earers and me. Notary, after due read
ng of the whole.
Original signed)
J. B. MONTEROS.
President;
A. EHNI,
vice-President.