The herald., 1922-11-09

october, 1922.
CHAS. F. FLETCHINGER.
octl9-nov23 Notary Public.
CHARTER FEzEMAN-BARLow INC.
State of Louisiana, Parish of Or
known, That on this 2Sth day of the
month of September in the year nine
teen hundred twenty-five. and of the
Independence of the United States the
one hundred and forty-seventh, Before
me, Herbert w. Kaiser, notary pub
lie. in and for the Parish of Orleans
duly commissioned sworn and quail
fled. and in the presence of the wit
neSSeS hereinafter named and under
signed. personally came and appeared
| the several parties whose names are
| hereunto subscribed. who severally de-
| clared that, availing themselves of the
laws of the State of Louisiana in such
cases made and provided. they have
coVenanted and agreed, and do, by
4 these presents, covenant and agree, and
hind themselves as well as all other
persons who may hereafter become as
ISOLATED with them. to form a corpor-
alton and body polite in law for the
objects and purposes and under the ar
ucles and stipulations following, to-
wit:
ARTICLE 1.-The name of this cor
poration shall be EXPERIMENTATION
INC. and under its said corporate name
1t shall have power and authority to
enjoy corporate existence and success
sion for the full term of ninety-nine
years. from and after the date hereof.
to contract, sue and be sued. to make
and use a corporate seal and to alter
ana break the same at pleasure: to ac-
quire by grant, gift or otherwise hold,
receive, hypothecate, convey, sell, lease,
pledge, mortgage and dispose of prop
erty, real, personal and mixed; to is
sue negotiable bonds and notes, or
other evidences of debt; to name and
] ma
tors and officers as it's business inter-
eStS and conveniences may require: to
make and establish as well as to alter
and amend, from time to time. such by
laws. rules and regulations for the
proper management of the affairs of
this corporation, as the same may be
necessary and proper; said corporation
snail have further power to acquire,
sell and dispose of the capital stock in
other corporations. and further enjoy
and exercise all the rights and priv
ileges and grants under the laws of this
State. and more particularly under Act
26I or the Louisiana Legislature of
1914.
ARTICLE 1.-THE objects and pur-
poses for which this corporation is or
ganlZed and the nature of the business
: 10 be carried on by it. are hereby de-
clared to be: To conduct and carry on
= the business of electrical machinery,
equipment, supplies, electrical construc-
! ton, gas and steam, as we'll as TO
| u general business In any
commodities and any other business
incidental thereto or connected there
, with.
ARTICLE III-The capital stock of
this corporation is hereby fixed at the
sum Of fifty.five thousand dollars
hundred dollars (s1OO.OO) per share, to
be divided into thirty-five thousand
dollars $35,OOO.00) preferred and
twenty thousand dollars (s20,00O.0 O)
| coil ta1
! be increased to five hundred thousand
dollars (s500, 100000: which said CAPT.
! tai snail be payable at such time and
In such installments and under such
conditions as the Board of Directors
may determine This corporation shall
be a going concern and authorized to
! do business as soon as fifty per cent
OF It's authorized capital shall be SUBJ
scribed for. and at least fifty per cent
! OF its authorized capital shall be paid
for. Both the common and the pre-
. ferred stock of this corporation shall
only be issued for cash. or for services
, rendered, merchandise, property OF
! other valuable considerations, enurine
10 TINS corporation, according to the
: exclusive judgment and findings of the
Board of Directors thereof
ARTICLE Iy.-The other conditions
limitations and provisions under which
the preferred stock shall be issued are
hereafter enumerated: The holders OF
I preferred stock shall be entitled to re.
ceive out Of the net profits of the cor.
poration fixed dividend of s per cent
per annum. payable annually, to-wit
on the 18th day of October of each
ana every year, commencing with the
10Th day of October, 1928, before any
dividend can be paid or set aside on OF
Tor the common stock for the period
heretofore elapsed. The principal OF
par value of said preferred stock with
cumulative dividends thereon at pei
2 cent per annum from date dividend
i should have been paid, and arrears OF
Z interest on such dividends as herein
: after fixed, shall be paid in full out
r OF the assets of the company in prefer.
ence to any of the common stock in the
= event of liquidation of this company
from any cause and before any distri
button can be made of the capita
! among the holders of common stock
2 The dividends upon the preferred STOCK
are to be cumulative and bear So pel
annum interest from their maturity
E date, as herein provided. compounded
annually, so that if for any period, OF
/, periods, the said dividends are not
paid. the right thereto shall cumulats
against the common stock; and all ar.
, rears or such dividends so cumulatet
) ana interest thereon, as herein pro-
, can be paid on the common stock The
: preferred stock shall not be entitled
: however, to participate in any other
: earnings, dividends or profits. The
; right of the holders of preferred stock
! to be credited with dividends shall com.
, mence from the date of actual pay.
ment OF such stock.
The Board of Directors shall hav.
the right and option of retiring the
e preferred stock, in whole or in part
at any time and from time to time
after five years from the date Of this
charter, at the price of one hundred
!, and ten dollars (s110.00) per share In
> addition to the cumulated dividend,
, and interest thereon, If any, as here
: fnabove provided for. Such retirement
shall be at the option of the Board OF
I Directors, and shall be effected BY
payment out of the surplus funds; and
in no case shall such preferred stool
, be retired under circumstances a.
, would produce an impairment of tn,
z capital stock Of this corporation, tn,
9 outstanding common stock to be ther
worth no less than par. Such retire
Z ment or redemption Of preferred stool
a can only be effected on thirty days
previous notice in writing to the hold
ers Of preferred stock of record, afte
= drawing by lot in the presence of tn,
r Board of Directors. Upon such MOTTO
d all dividends. interest and arrears shall
f cease with respect to such retire'
= stock.