The herald., 1922-04-20
CHARTER.
AMENDMENT TO CHARTER OF INTER
STATE ELECTRIC co.


AMENDMENT TO CHARTER OF INTER
STATE ELECTRIC co.
United States of America, State of Louis
lana, Parish of Orleans. City OF New Or
leans, BE it known, that on this siA-
teenth day of the month of January, IN
the year of our Lord, one thousand, nlpe
hundred and twenty-five, and OF the IN
dependence of the United States OF amerl-
ca the one hundred and forty SIXTH De
fore me, Selim II. Lemle, notary puDIc.
duly commissioned and qualified, in and
for this City and the Parish of Orleans,
therein residing, and in the presence OF
the witnesses hereinafter named and I'M
dersigned, personally came ana appeared ::
Perciyal Stern and j. ID. Lea, who de-
clared that at a general meeting of the
stockholders Of the Interstate Electric
Company, a corporation organized by act
passed before Joseph Lautenschlaeger, q
notary public in and for the Parish of
Orleans, of date May LIST, 1904. and amend
ed by act before Arthur \. Moreno, no
tary public in and for the Parish of Or
leans of date February Goth. 1913, and
further amended by act before Arthur A.
Moreno, a notary public, in and for the
Parish of Orleans, Of date July 1lth, l9l>.
they were elected respectively chairman
and secretary of said stockholders meet
ing. as will appear by certified copy OF
the minutes annexed hereto for greater
reference, and that the said Percival Stern
and J. ID. Lea, as chairman and secretary,
respectively, of said stockholders meet
appear before me for the purpose of
amending the said charter of the Inter
state Electric Company.
And the said appearers. rs chairman
and as secretary, respectively, of the SAID
stockholders meeting and acting in said
capacities and on behalf of said corpora
ton by virtue of the authority conferred
upon them at the general meeting OF the
said stockholders, declared that the char
ter of the Interstate Electric Company,
tary, on May LIST, 1904, and amended by
act before Arthur a. Moreno, notary, on
February 10th, 1913, and further amended
by act before Arthur 4. Moreno, notary
public on July 18th, 1918, has been
changed. altered and amended so that
Article " in its entirety shall read As
follows:
"The capital stock OF this corporation is
hereby fixed at one million, two hundred
fifty thousand ($1,2JO,OOO) dollars,
divided into twelve thousand, five hun
dred Q2jO0D shares of the par value of
one hundred (S100.O0) dollars each. OF the
shares authorized ten thousand (lG,OOO)
shares shall be common stock and two
thousand. five hundred (2.5OO) shar,s shall
be preferred stock. Each share Of che com
mon stock shall be entitled to one vote,
in person or by proxy, at all meetings OF
the stockholders The preferred stock
holders shall not be entitled to any vote
at any stockholders meetings.
THE terms, conditions, limitations and |
provisions upon which said preferred
stock is issued are these
THE holders thereof shall be entitled |
to receive out of the net profits a fixed |
cumulative dividend OF eight tSoc) per |
cent per annum on the 18th day of Feb |
ruary, of each year, and the par value of I
said preferred stock, with cumulative SCC /
dividends, and six per cent. $500 interest /
on arrears from the time they become due. |
shall be paid in full out of the assets of /
the company in preference to the common |
NaaIrs q l.N.. q
company, whether through insolvency or /
the termination of its corporate exist |
ence or any other cause before any dis |
tributiOn OF capital shall be made to the /
holders of the common stock. The pre-
ferred stock, however, shall not be en-
titled to participate in any other or adj
ditional earnings or profit
Until the preferred stock has been re-
tired no dividends shall be declared on
the common stock, unless all dividends
and interest due on the preferred stock
have been actually paid.
Five years after its issuance. the COM
pany may retire any or all of the pre-
ferred stock by payment of the par value |
thereof and accumulated dividends, in
Guiding a pro rata of the dividend for the
current year, and interest on dividends in
arrears, IL any be due, and shall retire the
same by making a like payment, on sixty
t60) days written demand being made on
the company to do so by any holder of the
preferred stock.
THE company shall have the right to
retire any or all of the preferred stock at
any time before five 90 years by making
similar payment to the above and a bonus
OF ten uOPd) per cent. on the par value
of such stock
"The preferred stock shall cease to earn
dividends and interest from the day
designated by the company for the re-
tirement of such stock.
This being an increase of seven thous-
and. five hundred shares of preferred stock
over that authorized by the prior charter
OF this company, as amended by act be
fore Arthur A. Moreno, notary public of
date July 18th, 1918, said increase of stock
Is to be disposed of as follows:
"All Of the increase in preferred stock
herein authorized shall be held in the
treasury OF the corporation and sold from
time to time at prices to be fixed by the
board of directors, but at no time less
than par.
"Of the seven thousand, five hundred
shares of common stock authorized in
crease herein, five thousand (5,OO0) shares
or the par value of one hundred (Sl00.O0J
dollars. or total Of five hundred thous-
and $500. O0O.O0) dollars shall be paid by
the company as stock dividend out of
the surplus Of the company, as shown by
the books Of the company on October 3lst,
1871. to the stockholders of the common
stock OF record on December 18th. 1921, or
two ~ shares for each share An ac-
curate. detailed and itemized statement.
the description of the property
as to amount, location and character of
the said surplus and what compose it. is
on file with the secretary Of this company.
subject to inspection on request at all
times and condensed statement thereof
will be filed with the Secretary of State
OF the State Of Louisiana and in the office