The herald., 1922-09-07
CHARTER.
AMENDMENT TO CHARTER OF
EIECTKICAI SUPPLY COMPANY

isiana Parish of Orleans BE il known
that on this the 18th day of the month
of August, 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 seventh. before me Eugene ID. Saun-
ders, Notary Public. duly commissioned
and qualified within and for the parish
of Orleans. state of Louisiana. therein
residing. and in the presence OF the wit
nesSes hereinafter named and Undersigned
personally came and appeared Leo l..
Ilirsh and Jacob G. LaZard both resi-
dents of tn" city of New Orleans, state
of Louisiana, of the full age, herein APP
nearing and acting for and on behalf of
the Electrical supply Company, Il Louis
lana corporation, domiciled in the city
of New Orleans, organized by act before
y. y. Moreno. a Notary Public. in and
for the parish of Orleans. state of Louis
lana. on the 2Nth day of March, 1913. and
recorded in the Mortgage Office for the
parish of Orleans in Book loss. Folio 219.
and pursuant to resolution passed at
a special meeting of the stockholders.
convened on the 10Th day of July. 1922
certified copy of which Is hereto at
tached and made part hereof
And said appearerS declared that AT
said special meeting Of the stockholders
of said corporation. convened on the 18th
day of July, 1922, which had been CON
vened for the especial purpose and at
which meeting the holders of the entire
capital stock Of said corporation were
present, either in person or by proxy.
the capital stock of said corporation was
increased from $5OOOOOO to $3.50 900 90
and in order to effect said increase. as
well as the other changes decided upon
at said meeting. Articles ". V and VII
of the Charter of said corporation We're
amended and re-enacted so as to read
as follows:
ARTICLE ". The capital stock Of this
corporation shall be Two Hundred and
Fifty Thousand Dollars $3.50 OOl,
u int INN~nU nIV.sl
shares Of the par value Of One Hundred
Dollars (S100O0) per share, payable when
Issued. in cash or other property. or for
services rendered or actually performed
as decided by the Board OF Directors
and this corporation is to he a going
concern when Fifteen Thousand Dollars
(Sl5.NO.OO) of said stock has been sub
scribed and paid for Said stock shall
be fully paid and worcestershire when
issued. and shall be personal property.
ARTICLE V. No stakeholder shall ever
be- liable or responsible for the indebted
ness. faul-S or defaults Of this corpor-
alton. nor shall any mere infOrmality in
the organization of the corporation have
any effect of rendering the charter null
or Of exposing the stockholders to anv
liability beyond the unpaid balance, II
any, on his stock subscription.
| No stakeholder shall ever he liable or
responsible for the Indebtedness. faults
or defaults Of this corporation. nor shall
| any mere infOrmality In the organization
| of the corporation have anv effect of rem.
J dering the charter null or of exposing
| the stockholders to any liability beyond
| the unpaid balance. if any. on his stock
1 subscription.
No stakeholder may sell. or assign. or
| transfer his stock in this corporation
without giving to the other stockholders
| through the Secretary of this corpora
| tion. notice in writing of such intention,
and the other stockholders shall have the
right for period of ten DAYS from tho
deliv>l~ of such notice to the Secretary
to purchase all or any part Of the stock
Of such stakeholder for cash. at the book
value thereof. after which ten days the
said stock may be sold without ro-
Striction.
other stockholders desiring TO purchase
stock under this article must in due time
| give notice OF such desire To the Secre-
! tary Of this corporation. In the event
| that other stockholders offer to buy moro
stock than is offered for sale. stockholders
offering 10 buy shall he entitled to buy
the offered stock in the ratio OF their
| then stock holdings In this corporation.
For the rurDose Of this article the book
value shall be determined nv the figures
as shown on the last monthly financial
| statement.
No sale. or other transfer. or assign
! nent of stock in this corporation shall
be valid until and unless opportunity to
purchase such stock has first been given
in the manner hereinabove provided "a
the other stockholders of this corporation
and this right, so vested in the other
stockholders. shall follow Into any hands
| Into which IL may pass any stock sold
| transferred or assigned. without such
opportunity being given. and may he ex-
ercised against the holder or holders
thereof within ninety CoO) days after such
/ stock Is rendered for transfer on the
books of this corporation. and no transfer
| of any such stock shall be made on the
hooks Of this corporation during the Den-
dency Of said ninety 900 day period
ARTICLE VII. The business of this
| corporation shall be directed by and all
of its corporate powers vested in Board
| of Directors composed Of five stOckhold-
es, majority Of whom shall constitute
| a quorum for the transaction of all bus
| mess. Until the next annual election OF
directors, to be held under this charter
or until after their duly qualified sue
! cessors are elected and installed, the
Board of Directors of this corporation
Elgutter, T. Hirsch, J. c. Lazard and
Lazare Levy, the postiffce addresses OF
| all Of whom is New Orleans, La, with
l.. L. Hirsch as president. NJ. ]. Elgutter
| and ]. c. Lazard as treasurer. The an
nual election for directors shall be held
| on the third Wednesday of June of each
year, beginning with 1923. All such cleo
lions shall be by ballot at the office OF
| this corporation. between the hours OF
| 1000 a. m and 400 p. m, under the
supervision Of three commissioners TO be
appointed by the Board of Directors, and
! in the absence Of any commissioner tn,
president shall have the power, to fill the
place by appointment. Failuse to hold
the election on the day specified shall not
dissolve the corporation. but the directors
| then in office shall hold their respective
! offices until an election shall be held
| after fifteen days notice Of the time and
place thereof is given to each stakeholder
| All vacancies on the Board OF Directors
for whatever cause shall be filled by the
remaining directors.
For all elections Of directors. as well n,
all Meetings of stockholders. except as
otherwise required by law, fifteen days
notice shall be given by mailing to each
| stakeholder whose address is stated or
| the books of this corporation, at his last
/ designated address care Of General
| Delivery at New Orleans IL he has No
| designated address, a notice stating the
| time and the place of the meeting. Each
| for each share Of stock standing in his
name on the books Of the corporation. To
be cast In person or by proxy, as
majority of the votes shall elect.
At its first meeting each board elected
under this charter shall elect from III
| membership president, a vice-president
| a treasurer and a secretary, and shall
! from time to time, as IL sees fit, employ
| or appoint such other employees as II
shall deem necessary. The Board Of
| Directors shall have full power and au
| and Of all such other employees as Il
may deem necessary, and to make and
| establish as well as to alter and amend
/ all bylaws, rules and regulations neces
sary and proper for the conduct and
management Of the business and affair