The herald., 1922-04-20
CHARTER.

ital, there shall be paid to the holders
of the preferred stock the par value
thereof, to-wit: One Hundred Dollars
per share, and the amount of all unpaid
accrued dividends and interest thereon,
before any sum shall be paid or any
assets distributed among the holders of
the common stock and after the pay
ment to the holders of the preferred
stock of its par value and the unpaid
accrued dividends, with interest thereon,
the remaining assets and funds of the
corporation shall be divided among and
paid to the holders of the comomn stock
according to their respective shares.
The Board Of Directors in their dis
erection out of the earnings or surplus
may declare and pay dividends out Of the
common stock concurrently, with divi-
dends on the preferred stock, for any
dividend period of any fiscal year, pro-
vided that all accumulated dividends and
| interest on the preferred stock for all
previous fiscal years, as well as the cur
| rent dividends thereon, shall have been
paid in full.
| All outstanding common stock shall be
entitled to one a. vote, either In person
or by proxy. at all meetings of the stock
holders, the preferred stock not being
| entitled to any vote.
| No stakeholder shall have the right to
sell his stock until he first offers the
| same, through the Secretary of the com
| pany. to the other stockholders of the
company in the manner provided herein
for the sale of increased stock for
period OF thirty 1901 days. at its book
value. as shown by the last trial balance
| Of the company.
| ARTICLE V. The powers OF this cor
poration shall be vested in and exercised
by board of three directors, two Of
whom shall constitute a quorum. TIL"
following persons shall constitute the
first Board of Directors: Ferdinand B.
Stern, New Orleans, La: Jesse p. Stern.
4 To NIafl
New Orleans, La, with Ferdinand b.
Stern as President. Miss Amalie We'll as
Vice-President, and Jesse p. Stern as
Secretary Treasurer.
Said Board of Directors and officers
shall continue in office until the second
Tuesday in the month of January, A. ID.
1923 on which date, and annually there
after. their successors shall be elected,
unless said date be a holiday, in which
event the election shall be held on the
next legal day thereafter.
Failure to hold an election on the day
specified shall not dissolve the corpora
, ton, but the directors shall hold their
respective offices until an election shall
be held after thirty days notice Of tbs
time and place thereof, mailed to each
stakeholder of record at his last known
| address.
ARTICLE VI. The names and post
office addresses Of the subscribers OF
these articles of incorporation and q
statement of the number of shares OF
! stock which each agrees to take In the
corporation are as follows: Ferdinand
r. Stern, New Orleans, La. so shares
Jesse P. Stern. New Orleans, La. Al
shares: Miss Amalie We'll, New Orleans
ARTICLE VII. Whenever this corpor'
] alton is dissolved. either by Limitation
or for any other cause, Its affairs shall
e be liquidated by the Board Of Directors
Q who are hereby vested with full power
}, to sell any or all assets Of the corpor
alton. either separately or In mass
e and to convey full and complete IT'LL
= thereto and shall have full power q
. do and perform all acts necessary and
!, proper to fully and completely iquidat
: the affairs and distribute the proceeds
q II any. among the stockholders Of thi
T corporation to the amount Of stock hei'
: by each.
:. ARTICLE VIII. This act Of insorpor
T alton may be amended, altered AM
D modified. or this corporation may be dis
e solved, in the manner provided by law
s. Thus done and passed in my notaria
J. office, in the City Of New Orleans, o.
u the day, month and year first aoov
written, in the presence OF competen
d names, together with the parties heret
=. and me, Notary, after reading Of tn
5, whole.
4 Original signed: Jesse P. Stern, ANAL
u We'll, F. b. Stern.
| Witnesses:
ID MARY f. KELLY,
u GLADYS f. RIDER.
SELIM B. LEMLE.
y Notary Public.
d T. the undersigned Recorder of Mort
u cages in and for the Parish OF Orlean
u State Of Louisiana. do hereby certif
y that the above and foregoing Act Of Ir
&c corporation of the STERNS, INC, wa
'e this day duly recorded in my office, ]
y book 1868, folio 1853.
~ New Orleans, March IL, 1922.
"a (Signed) ROBT. SCOTT,
~ by. Rec.
~ The above and foregoing is a true an
correct copy.
Or Notary Public.