The herald., 1922-02-23
CHARTER.
CHARTER OF ,~c
nrHING CO. INC.

United States or America, .3tv IF
Ionisisua, Parish Of orleans, TINS
New Orleans be II hn If January, in the
iosn nT onr Lord one thousand nine ,he
drsd and twenty-five (l9ZzJ, anu ,otas of
Sndanenaence OF the United S'a ,o-tv-
America, the one hI WATTS K. Lev
siin nIn, q Notary Public, duly e01n arinh
1tnnad and aualitied in AM for the ,harain
- orleans, State of Louls.ans' ,ha Wit
res,ding. and in the presence % under-
nesses hereinafter ha od anneared the
sisi, rn.rsons whose names are MI
nnto subscribed, who declareu ma nS;s state
IN Themselves of the laws Oh t TINS
relative to the orSahlLatd and agreed,
uonS, hy these presents covenant, asie.'
Hnd form and constitute tnenls snraaf,eT
veil as such persons as may -, INTO
;,in or become associated Win 49, -, Tor
yoin arnoration or body polite In law, 10 ~
a. apiacts and purposes ana uh 1ea un
lne and stipulations iollo"ine
to-wit: m, mama and title OF
this corporation shall De tne ,,nSer its
CIoTuING CO., M, ana ui,'11,assion
CL .a,a name il shall enjoy succession
Cor The full term and perlou oi u, hore
nine wears from and AFTER tne uantbority
- and shall have power anu nc.snf
o. contract sue and be sueu' " 49,
" racsiya mortgages, pledges OF otn.i
bXnothecations; to make ana use end
norate seal and the same 10 racaiy,s
sItpr ut pleasure; TO pufCnaS' - con-
lease hold or otherwise acqIie "nthecate
Wv as well as mortgage anu h!P roth
- yts corporate name, properts' 49,
raaI persohal and mixed 10 and
money and make ana ISSUE ~ secure
ether evidences of debt, anu " to
.hn same by mortgage and otherwlse =,
snhscribe TO and hold stock IN otnel Ina S
s,iaDs. 10 acquire, hold and relssu SUI
shares of it's capital STOCK, " herein
oil 81 the objects and purposes sncb
after set out; to name anu cheers and
ni,ants as the interest and conNehiehS,e 20
ssid corporation may requLe IT, and
make and establish, as wen as aI' lis
amend at pleasure such y! 'amspt and
III revuIations for the managehent an"
nia,s,,lation of the affairs OF the corPoi
lion as may be necessary, proper VI Its
vsnient. and generally to do all sucn az US
and things as trading corporatioh ,ho
nthorized to do under the laws VI INV
ARTICLE III. The domiclle OF TINS o.
ana,ion shall be in the Parish OF Ut
leans State Of Louisiana, ana All eit snrvad
or other legal process sh oDony. or.
mon the President of the company VI
a.. his absence. upon the Secretary
,RTICIE Ill The objects anu pui
les for which this corporation Is organ
ized, and the nature OF the ob DuSi aecIored
hn
y, u bs. To buy, sell and deal in, at Dotn
wbaIesnle and retail, clothing poots'
shoes. hats, caps, millinery, hechM oes, :
hosiery, gloves, fancy goous' JIS.an's
furs, and mems, women anu oarIna an
furnishings, novelties and wearing up
narci Of all sorts, and all articles anu
merchandise of like character anu uS
scrintion. and all other sorts OF ury sv'he
and merchandise, furniture anu nSa and
;ngs for personal and household use anu ~,
adornment, including all such ar1cIes ~; ~,
merchandise as are or may De ues' III
by department stores; 10 puy anu anu seii
dyv goods and to manufacture anu
as customs tailors wearing apParei III
,nsn Women and children; to conduct the
business of general dry goods ana cio.n
ing merchants, tailors, drapers, ,,en.
dashers, milliners, dressmakers anu go
eral outfitters; to carry on department
store; to buy, sell, construct lease, nun nd
develop and improve real estate anu anu
buildings and improvements tneIeop "a
ali sorts; to buy. sell, acquire anu anu, -itias
stocks. bonds, obligations and sec1ri.,es
Of other corporations; to buy, sen anu
Jaal in stocks and bonds, and TO carry
on general investment business, "
change its entire capital stock or any Par'
thereof for property which IL Is au. ,Sro
;1ed 10 acquire; 90 exchange its entire
assets and business, or any part tneieof
for property, stocks or other opngations
of other companies, firms or lnuN 30,
to carry on all operations anu for the
things Incidental to or convenient Ior tne
accom- plishment Of any OF the Foregoing
nurposes. and generally to 90 al such
acts and things as a general tracing CUT
poration under the laws OF the sts.e AZ
louisiana is or may be authorized 10 90;
ARTICLE Nv. Section !. The capita,
stock OF this corporation is hereby n Heu
at Two Hundred Thousand Dollars ls-VV
OOO.OO), divided into and represen.ea ~
seven hundred and fifty Io0) shares OF
preferred stock and twelve hundred ana
fftv (l25O) shares Of common stock. ali
OF the par value Of One Hundred DoIlars
Is10OS per share. The preferred stock
NAV be increased to the sum OF L. rive Nv
Hundred Thousand Dollars $500, OOo.oo);
and the common stock may be Increased
TO n similar hgure. -.
Section 2. The capital stock, both pre-,
ferred and common, shall De fepr nS non,
assessabfe when issued, shall be issued
only for labor done or for property act.
ualiy received, or for cash to be paid AT
such times and In sueh amounts n,, anu
by the Board of Directors, and shall De
personal property. No transfer OF SAID
capital stock shall be binding upon TINS
corporation unless made In aecordanse
with its charter and bylaws ana recoro-
ed on the books thereof.
Section 3. The holders or preferred
stock shan be entitled to receive divl-
dend at the rate Of, but never exceeding
seven. ca per cent per annum, &c tum 1e9a
payable out of the net profits OF the com
pany on the first day OF February ana
the first day Of August or each year pc
fore any dividend is paid upon the com
mon stock Should the net pronts Tor
any year be insufficient to pay SAID pre-
ferred dividend therefor, or any part
thereof, any unpaid portion thereof shall
become a charge against the net pronts
of the company and shall be paid In fuii
out Of said net profits before any diyi-
preferred stock shall never participate In
the profits of the company beyond It's
fixed preferential cumulative annual divi-
dend Of seven ca per cent, but shall be
paid In full up to its capital or par value,
plus accrued and unpaid dividends, II
any. at the rate of seven (O per cent per |
annum, before any amount shall be dis |
tributed among the owners OF the COM |
mon stock, In the event Of any liquida-
assets Of the company, and shall not par.
ticipate further in the distribution OF the
assets of the company.
Section 4. The preferred stock shall
have no voting power whatever, and all
matters relating to the corporation, In
Guiding amendments to Its charter, in
crease or decrease of its capital stock
Including Increase or decrease Of the
preferred stock. dissolution or liquida-
lion Of the company, and all other cor
porate matters shall be decided upon by
the holders Of the common stock exclu-
sively. the rights Of the preferred stocks
holders being limited to the return of
the money invested by them with cumu-
ative dividends thereon at the rate OF
seven ca per cent per annum, in the man
her set forth In this charter.