The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-24
CHARTER.

I
| the Parish of Orleans, State of Louisiana.
| therein residing, and in the presence of
| the witnesses whose names are hereunto
| subscribed, personally came and appeared
| Lucas T. Moore the vice president Of Lu-
cas- r. Moore Stave Company, a corpora
ton duly created and organized under and
/ according TO the laws of the State of
! Louisiana. by virtue of of an Act of In
corporation passed before Charles T.
| SOniat, notary public, on June Goth, 1909.
| recorded in NJ. q. T.. S13. folio CO.; which
charter WAS amended by act before Charles
| I. SOniat. notary public, on May 18th,
| 1911. recorded in NJ o. Il. 101S folio 64l;
| also by act before NJ c. SOnat, notary
public, on June 18th. 1914. recorded in NJ.
q. u. 1927, folio 173; also by act before
/ Philip GenSler, Jr.. notary public. on
March 18th, 1916. recorded in Mortgage
| Office for the Parish Of Orleans in book
| 1893 folio 35i; also by act before Philip
GenSler, Jr, notary public. on March IL,
| 1917. recorded in Mortgage Office for the
| Parish of Orleans in book 1906 folio 400
! also by act before Philip Gensler, Jr.. no.
tary public. May 9th, 1918, recorded VI.
q. II. -. folio -; also by act before vii
liam J. Guste, notary public. August 81.
| 1920 recorded in VI. q. Il. 1916 folio 10:
| Who declared that a special meeting Of
| the stockholders of Lucas f. Moore Stave
! Company, held at the office of the corpO-
ration, on the oath of July, 1922. at which
meeting all of the capital stock of said
| corporation was present or represented
by the holders and owners thereof in per
|
seolved that Articles " and V of the char
ter of the corporation be amended so as
| to read as follows:
ARTICLE IV.-The capital stock OF this
corporation is hereby declared to be one
million, four hundred thousand dollars
Isl 400 100000, as authorized, to he di-
/ vided into four thousand shares of par
value of one hundred (S100.00) dollars
each of authorized preferred stock to he
paid for in cash and ten thousand shares
of common stock of par value of one hun
dred ($100OO) dollars each of authorized
common stock, to be paid for in cash or
its equivalent; this corporation to be a
going concern upon the issuance to the
| stockholders of thirty-two hundred and
fifty shares of preferred stock and forty
five hundred shares of common stock. the
! remainder Of said stock to remain in the
treasury and to be issued by the board
of directors on such terms and conditions
as they may see fit provided that said
stock shall not be issued or sold for less
than its par value.
The preferred stockholders shall have
the first right to subscibe to the author
| lied preferred stock and the common
stockholders shall have the first right to
The preferred stock shall receive divi-
dends at the rate of eight per cent. per
amman out of the profits of the company.
and no more, payable in semi-annual in
stalments on the first day of January
and the first day of July each year
which dividend shall be cumulative and
no dlNldendS on the common STOCK Sndil
be paid until all dividends due and cumu-
lative on the preferred stock shall have
been paid set aside.
The common stock shall receive the re
mainder of the net earnings of the COM
pany. or so much thereof as may be dis
tributed by the board of directors and not
reserved for such surplus or undivided
profits or special reserve fund as herein
after stated.
on or about the first day OF July. 1921.
and each year thereafter. long as the
preferred stock shall remain outstanding,
there shall be set apart and deposited
with the Registrar special reserve
fund out of the net profits of the company
remaining after all accrued dividends up
on the preferred stock shall have been
paid, an amount equal to at least eleven
thousand (s11OO000) dollars for the pur-
poses hereinafter provided. On or before
July LIST. 1921. and each year thereafter.
any preferred stockholders desiring TO re
ceive cash for his stock shall have the
| right to send in a bid directed TO the
registrar of the stock of the company.
stating the least he will take for said pre-
ferred stock which shall not be more than
one hundred ten ($110.00) dollars per
registrar to allOt, so far as In his power
. lies, to the lowest bidder so much of the
eleven thousand (S11.00O00) dollars re-
served on the date aforesaid: and II his
bid shall not equal the eleven thousand
(S11 0O000) dollars reserved on the date
aforesaid, and If the amount of his stock
does not call for the eleven thousand
. | 1911 900 00) dollars in toto, the next low
est bidder shall receive out of said fund
, his quota, and the next lowest bidder his
quota until the entire eleven Thousand
(S11. 000) dollars shall have been alb
Sorbed in this manner, If the preferred
stockholders require 1t.
In case two more competitive BIDS
shall be for like sum. the amount OF
: the eleven thousand (s11, 000.O0) dollars OF
such surplus as remains shall be divided
, equally between the two or more competi'
, tive bidders: or if this cannot be con
, veniently done. the registrar shall have
3 the right to decide by lot which of tht
competitive bidders shall receive payment
$ for their stock out Of said special fund
The said reserve fund Of eleven thous
and (S11 100000 dollars shall be deposited
= by the company ten (1Ol days previous u
y July LIST, 1921. and each year thereafter
: with the right to the holders of the pre-
f ferred stock to bid therefor so long az
; there is any preferred stock outstanding
If the fund so deposited is not fully ao
= sorbed by bids of preferred stockholder'
e in any year, the amount not absorbed may
S be withdrawn by the company after Au
e gust 1st. of such year.
ARTICLE V-The corporate powers Of
this corporation are hereby vested IN
board of directors, consisting OF thirteei
' stockholders.
The election OF the board OF directors
. consisting of thirteen stockholders. a.
: aforesaid. shall be held on the second
Monday in March annually. All the cleo
lions shall be by ballot and conducted
under the supervision of two 90 com
missioners to be appointed by the boarc
> Of directors for that purpose.
Notice of said election shall be given ten
days prio to the meeting of stockholder'
e by mailing each known stockhOlder u
' such address as shall have been furnished
Z by him to the company, or by pnbllca
ton inserted in one of the New Orleans
papers three times in ten days, previous
, to said election.
e Preferred stockholders shall elect three
s directors the common stockholders, teI
directors.
: Vacancies occurring IN said board, from
= whatever cause, shall be nlleu Dy the re
. naming directors.
The said board of directors shall make
all bylaws, rules and regulations for I'M
| government Of the business and AFFAIRS o.
= the company, and alter, amend and chang'
the same at pleasure.
And the said appearer further declared
: that he is authoiZed. empowered ana al
rected TO sign and execute all necessary
y acts and proceedings to carry out ant
+ effects the said amendments; and n
does now appear before me, notary. il
. order TO make proper notarial record o
said amendment and to have same re
corded. as required by law, all OF whlci
will more fully appear by reference TO
| certified copy OF the minutes or sal'
| stockholders' meeting, hereto attached
Thus done and passed in by once II
: the City Of New Orleans. on the day ah'
lin the month and year first above writ
tten and in the presence Of i. de Villeneuv'