The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-08
AMENDMENT To CHARTER OF
ORLEANS-kE TRACTION
COMRANY INC

United States of America. State OF
Louisiana. Parish of Orleans. City OF
New Orleans. BE IL known and remem-
bered, that on this Goth day Of the month
of April, in the year of Our Lord, one
thousand. nine hundred and twenty two
and of the Independence Of the United
states OF America. the one hundred and
forty sixth: Before me. Stamps Farrar
a Notary Public. duly commissioned
sworn and qualified in and for the Par
iSh of Orleans. State OF Louisiana. there
witnesses hereinafter named and under
signed: Personally came and appeared
Alfred c. Hammer. president. and Maurice
II. Rooney. secretary. OF Orleans Kenner
traction Company; Inc, corporation
created by and existing under the laws
OF the State of Louisiana. by an act be-
fore Alfred G. Hammer. Notary Public.
Parish Of Orleans. State OF Louisiana.
dated March . 1918. recorded in the
Mortgage Office of the Parish of Orleans.
state of Louisiana. in Book 1919. Folio
49, and in the office of the secretary of
state. OF the State Of Louisiana. ut Baton
Rouge. Louisiana. in Book Record of
Chartres.- No. 1919. Folio 412. on the eth
day of April 1918. who declared unto me.
Notary, that general meeting of the
stockholders of Orleans Kenner Traction
Company. Inc. was held at the office of
the company in the City of New Orleans.
on the Goth day of April. 1922 at 4 90
O'Clock p. m: that notice of said general
meeting Of said stockholders was waived
and the original OF said waiver Of notice
was ordered attached to the margin Of
the minutes
And the said appearers further declared
that at said general meeting of the stock
holders Of the Orleans Kennnr Traction
company. Inc. it was resolved by n
unanimous vote Of all OF the stock holders
Of said company present nj said meet
ing, to-wit. by al o. the stockholders of
the company owning the entire outstand-
ing capital of the company, that the cant
tai stock of said company be Increased
from 100000 to srs5. 600 90 by tbe issu-
ahce or 1,3OO shares of preferred stock OF
the par value of $4,000 each. the 70
shares Of stock of the par value of 800 90
each now outstanding to be and become
common stock.
And the said Alfred c. Hammer and
the said Maurice Fl. Rooney respectively
The president and secretary of Orleans
henner Traction Company. Inc. further
the stockholders of Orleans Kenner Trac-
ton Company. Inc. it was resolved that
7 he officers Of said company be author
lied, empowered and directed to take
sary to make effective the foregoing
to the charter
Whereupon the said Alfred G. Hammer.
president, and the said Maurice III.
Traction Company. Inc. declared that
they do now appear for and I'm behaN
Of said Orleans Kenner Traction Com
pany, Inc. for the purpose of making
the action or the stockholders of
Sald company by Pmbodying the said
amendment in nOtarial form and they
now declare unto me. Notary. mat Article
~, or the charter Of the Orleans-Ken
lractlon Company, Inc. shall he and is
wit: i''"s' 'o-
ARTICLE Iy-The capital stock OF
ms corporation is hereby fixed at One
hundred ~ and Thirty-five Thousand
One Hundred and Thirty Thousand
(SlOOOO.00) Dollars of preferred stock
represented by 1900 shares of the mar
value val of $4,000; and Five Thousand
lSo.oWo9o) Dollars of common stock. rep
resented by fifty (5O) shares of the par
each ' ''ii'is
Preferred stock shall he and is entitlad
10 preference and priority over the com
mon stock in the following manner TO-
VII: to receive cumulative dividends AT
me rate of seven co. per cent per an
mum; payable in one or more inStaIlments
as the board of directors NAV determine
G sha9 any dividend on the common stock
Shall be paid; and. upon dissolution ~
me corporation, after all of its debts
shall have been paid the remaining as
setS; property and effects shall be an.
pied to the payment of the preferred
stock at par, with any UNPAID dividend
accumulation thereon and before anv naV-
ment is made to the holders of the com
mon stock; the balance remaining shall
men go TO the payment of the outst,nd-
ing common stock pro-rata The com
mon stock shall be entitled to all net
earnings and profits in. excess of the
cumulative dividend of seven f7oz6 nor
.ent per annum to he paid on the nre-
erred stock as herein provided.
All or any part of the preferred stool
IS may, from time to time. be determined
~ the board of directors shall no snh
ect to redemption and retirement ONT of
let profits or earned surplus. or any Other
nnds authorized by law at par and accrued
dividends, provided that notice of such in