The herald., 1922-12-21


United States of America, State of
Louisiana. Parish Of Orleans, City of New
Orleans. BE il known, that on this 18th |
day of November 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
before me- T.
! stoned and qualified, in and for this city
! and the Parish Of Orleans, and in the
presence of the witnesses hereinafter
| named and undersigned, personally came
and appeared. Mr.. Nugent IL. Vairin, Jr.,
a resident of this city of full age OF ma
! jority, and president of the Ivory Garter
| Company, duly Incorporated assocIa-
| ton, domiciliated in this city, created by
act of incorporation passed before Me
| loncy Charles SOniat, notary public. on
/ the twenty seventh day of August in the
year one thousand. nine hundred and thir
\ teen. and recorded in the mortgage office
| of this parish in book 1119, folio Z, and
since amended; and also Mr.. Edward X:
| Cameron, also a resident of this city of
full age Of majority, and treasurer of the
Ivory Garter Company, above described.
Both Of said appearers declared: That
they appeared herein in their respective
capacities for said company, and also act
ing under and by virtue of a resolution
of the stockholders of the said Ivory Gar
ter Company, held in conformity with law
and under the conditions Of the charter,
at the office of said company on Decem-
Der 81, 1921; that there was present and
voting at said meeting 1888 shares of
common stock and $50 shares of preferred
stock. That at said meeting said resolu-
ton provided for the amendment of the
charter of the said company, increasing
the common stock authorized from two
hundred thousand ($20O,OO0.OO) dollars TO
five hundred thousand $500 OOOOOl dol
lars, of the par value OF ten $1,000 dol
: common stock to be: one hundred and
: twenty-five thousand s125OOO0O to be
: issued in place and stead Of the present
common stock issued, of the par value Of
: one hundred (s1OOOO) dollars per share;
: seventyfve thousand S75OOO0O) dollars
to be sold as Of January 2. 1922 or later ;
three hundred thousand $500 900 0O) dol
lars to be held in the treasury to be dis
posed of in whole or in part as the board
of directors might elect. provided that
same should first be offered to the common
stockholders Of record. and said resolution
further authorized said president and
treasurer to take such legal or notarial
copy of the minutes of said meeting being
, hereto attached and made part hereof.
And said appearers in their respective
, capacities heclared that in conformity
E with said resolution and in furtherance
, of their instructions article Nv of the
charter Of the Ivory Garter Company be
' and the same is hereby altered and
: amended to read as follows:
ARTICLE Iv--The capital stock of this
. corporation is hereby fixed at six hun.
: dred thousand $500, 100000 dollars. OF
which five hundred thousand $500, O.0O)
? dollars shall be common stock and one
a uuHuEtu thousduu HhVV,OVV-oVJ
= shall be seven per cent (7%) preferred
a stock. all Of which said stock shall be
: paid for in accordance with law; and the
and a5o 600 shares e Of ten $1,000 dollars
: each Of common stock and one thousand
!. q .0O0) shares of one hundred $1OO.OO
o dollars each Of seven per cent preferred
u The preferred stock issued and out
e standing prior to July 1. 1917. shall b.
!. known as Series A.; the preferred stool
- fssu NJ date IuIy 1 1917 shall n,
], known as Series b.; and all other pre-
q ferred STOCK shall be similarly issued, al
y serie or series.
,e The seven per cent preferred stock shall
IL be entitled to receive a quarterly dividen,
of one and three-fourths ok ~ per cent
a payable out of the net profits Of the com
" pany upon the first legal day in April
" July, October and January Of each year
re prior to the holders Of the common stool
ie receiving any dividend upon their com
-, mon stock holdings. This seven per cen
X dividend, payable quarterly, on the seve
n per cent preferred stock, shall be cumu
N lative.
Us ferred as to the assets Of the company.
:, When the net profits in any one yea
III ending December the thirty first, derive
'ss from the manufacture and sale of tn
ed products of the company in that yea
30 computed after the deductions from tn
"a earnings Of the seven per cent dividend o
IN the cumulative prefeIrd stock ana d,, arte
a a, advertising. but not including dividend
III on common stock, shall amount to tn
ID sums below set forth, the seven per cen
"A ~, preferred stock shall be entitled to extr
NJ NJ dividends, as follows:
IN When the net profits shall aggregate tweI
f housand $40 0O0O0) dollars, the extra div
w dend shall be one Qqo) per cent when IN
re- net profits shall aggregate forty thousan
- ts4oo0o0ol dollars to sixty thonsan
." shall be two (2T) per cent; when the NJ
&c profits shall aggregate sixty thousan
d. tsso1oo oo) dollars to eighty thcu r,sun
sss Se three s th per e esnt when
Is, net profits shall aggregate eighty thousan
q. ($s0.O0O00) dollars to one hundred thou
" " dend shall be four l4SSj per cent; whe
,ss dred thousand H1000O000l dollars. /,
ey more the extra dividend shall be five (5%
RS Beginning January /. 1919 the compar
shall set aside for special reserve fur
cd not less than FIVE thousand &5,O0o0
,nr equal sixty-two thousand. five hundr'
Of 1852 800 OO) dollars, for the redemption
X. "Series A" Of the preferred stock at o.
10 per share. which said reserve fund .shs
81 be invested in high grade first mortga
led bonds: The company reserves the rig
rd to retire ALL but no sars o. s tine
asst date after January ]. 1913 at one hu
,S: dred and twenty-five ts125.oO) dollars p
ad. share.
asst Beginning July !. 1920. and annual
W. thereafter the company shall set asi
for n special reserve fund not less than Z
ing (1O9s) per cent Of the face or par value
on, all stock of "Series b. Of the preferr
are | stock, which is issued and sontstandil
the until the amount shall be sufficient to I
deem all stock Of Series B" 30 issued nj
Use outstanding. at one hundred and twent
~ Ave (s125 OO) dollars per share. which sa
cen reserve fund shall be invested In hi
old grade first mortgage bonds. The compa
to reserves the right to retire all. but
ate mart Of the outstanding Series b. pi
hts ferred stock on any date after July
1920 Mt ore hundred and twenty n
of (s125O0) dollars per share.
ors Beginning three years from the date
issuance of all remaining preferred stot
ION p the company shall set aside for spec
py reserve fund for each serie or series n
oi less than ten t10%) per cent per amt
h, Of the face or par value OF all stock
ans sucb serie or series so issued and OF
70 standing. until the amount shall
ngs sufficient to redeem all stock OF SD
,ut. serie or series at one hundred and tweni
NE NE FIVE (S12500l dollars per share. which ~
lnis reserve fund or funds shall be invested
t s high grade first mortgage bonds.
uy company reserves the right to retire
Nv but no mart Of. the outstanding stock
W. each serie or series three years from
~ ~ suarce at one hundred and twenty
III H12500) dollars per share
fuIj The common stock shall he entitled
and and shall receive. q dividend or divideI
. a lat total rate Der cent equal to the tn
- - H. -