The herald., 1922-05-11
CHARTER.
AMENDMENT TO CHARTER OF NEW
ORLEANS REALTY INVESTMENT
co, INC,

United States of America, State of Louis
lana, Parish of Orleans, City of New Or
leans, BE il known, that on this 18th day
of the month of April, in the year of our
Lord one thousand, nine hundred and
twenty-five, before me, Edward IL. Ellis.
a notary public, duly commissioned and
qualified. in and for this city and Parish
of Orleans. therein residing and in the
presence OF the witnesses hereinafter
named and undersigned, personally came
and appeared: +. j. Keller, secretary. who
declared that general meeting of the
stock holders of the New Orleans Realty
Investment Co., Inc, Il corporation or
ganiZed by act passed before VI. s. Drei-
Jus, notary, March - 1922, recorded
in NJ. o. L. 1868, folio l67, held at the
Office of said company, on April 10, 1922,
authorized as appears by copy of the
resolution of the stockholders hereto at
tached and made part hereof, TO appear
before me for the purpose OF amending
said charter.
And the said appearer, as secretary of
the said New Orleans Realty Investment
Co, Inc, and acting in said capacity and
on behalf of said corporation by virtue
of the authority conferred upon him at
the general meeting Of the stockholders
of said company, declared that Article Ill
of the charter of the said New Orleans
Realty Investment Co, Inc, has been
changed, altered and amended to read
follows:
The capital stock of this corporation
Is fixed at twenty thousand dollars $50
100000, divided into seventy-fiye (IJD
shares of common stock and one hundred
and twenty-five Q25l shares of preferred
stock preferred stock to be nOn-vOting)
of par value of one hundred dollars
t$lO0OOD each, TO be paid for in cash at
such time as the board of directors may
determine or which may be issued for ser
vice rendered or for property or rights
received by or assigned to the corpora
ton.
The peferred stock shall be entitled
only to dividends at the rate of not less
than eight per cent. (SGo) as may be de-
cided by a full board, payable as the
board of directors may determine which
shall be cumulative.
In case of the dissolution of this cor
pOration. the preferred stock shall be
liquidated at par, before the common
In the assets or profits of the company.
The preferred stock or any part thereof
may be retired by the board of directors. |
out of any undivided profits or surplus !
three months from the date of its iSsu-
ance, or at the end of any succeeding
month, upon the payment to the holder !
the par value only and all dividends due !
to the date of payment.
The capital stock Of this corporation
may be increased to fifty thousand dol |
lars (S50,0O00O).
No stakeholder of this corporation shall |
SELL or offer to sell. any common stock of |
this corporation owned by him until he |
shall have first offered the same to each |
of the other common stockholders there |
of for period of fifteen (l5) days. at |
the book value of said stock. This offer |
shall be made in writing to the board OF /
directors OF this corporation, through the
secretary. who shall. for that purpose be |
considered the agent for the remaining
common stockholders, who shall have the |
right to purchase same at said book value