The herald., 1922-10-19
CHARTER FRBEMAN-aARLow INC.

CHAS. +. FLETCHINGER.
Oct19-nov23 Notary Public.
CHARTER DECENTRALIZATION INC.
State of Louisiana Parish of Or
! leans, City of New Orleans. BE IL
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, a 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
these presents. covenant and agree, and
bind themselves. as well as all other
persons who may hereafter become as
ISOLATED with them, to form corpOr-
alton and body polite in law for the
objects and purposes and under the ar
ticles and stipulations following, to-
wit:
| ARTICLE 1.-The name of this cor
! poration shall be EXPERIMENTATION
| INC. and under it's said corporate name
it shall have power and authority to
| 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 corporate seal and to alter
and 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
| appoint such managers, agents. direc-
| tors and officers as its 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
| shall 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
267 of the Louisiana Legislature of
| 1914.
| ARTICLE 1.-THE objects and pur-
poses for which this corporation is or
| ganiZed and the nature of the business
| to be carried on by il, are hereby de-
| clared to be: To conduct and carry on
| the business of electrical machinery,
equipment. supplies. electrical construc-
| tion, gas and steam, as well as to
| transact 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 (s1OOOOJ per share. TO
| be divided into thirty-five thousand
dollars (s35,OOO.0O) preferred and
twenty thousand dollars (s2O 100000
common stock; said capital stock may
| be increased to five hundred thousand
| dollars $500 900 0O): which said capt.
tai shall 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 sub
scribed for, and at least fifty per cent
of it's 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
| to this corporation, according to the
exclusive judgment and findings of the
| Board of Directors thereof
ARTICLE IV.-The other conditions
! limitations and provisions under which
the preferred stock shall be issued are
| hereafter enumerated: The holders OF
| preferred STOCK snail De enIltleu TO re-
ceive out of the net profits of the cor
poration a fixed dividend of per cent
per annum. payable annually, to-wit
on the 18th day of October of each
and every year, commencing with the
18th day of October, 1928, before any
dividend can be paid or set aside on ol
for the common stock for the period
heretofore elapsed. The principal oil
par value of said preferred stock, with
cumulative dividends thereon at pei
cent per annum from date dividend
should have been paid, and arrears OF
interest on such dividends as herein
after fixed, shall be paid in full out
| 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
The dividends upon the preferred stock
are to be cumulative and bear so pei
annum interest from their maturity
date, as herein provided, compounded
annually, so that If for any period, oil
paid. the right thereto shall sumulatt
against the common stock; and all ar
rears of such dividends so cumulateC
and interest thereon, as herein pro
vfded, must be paid before dividends
can be paid on the common stock. The
| preferred stock shall not he entitled
however, to participate in any Other
! earnings dividends or profits. The
| IiBhl VI the Ol SIOCf
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 tn,
preferred stock, in whole or in part
at any time and from time to time
after five years from the date of thi,
charter. at the price of one hundred
and ten dollars (s110.00) per share II
addition to the cumulated dividend
and interest thereon, II any, as here
inabove provided for. Such retiremen
shall be at the option of the Board o
Directors, and shall be effected b.
payment out of the surplus funds: an
in no case shall such preferred stocl
be retired under circumstances a
would produce an impairment of tn
capital stock of this corporation, tn
outstanding common stock to be the
worth no less than par. Such retire
ment or redemption of preferred stoc
, can only be effected on thirty day,
previous notice in writing to the hold
! ers Of preferred stock Of record, afte
; drawing by lot in the presence of tn
Board Of Directors. Upon such motto
. all dividends. interest and arrears sha