The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-26
AMENDMENT TO CHARTER OF THE
EUREKA HOMESTEAD SOCIETY.

State of Louisiana, Parish of Orleans.
City of New Orleans. BE it known that
on this the 10th day of January, in the
year of our Lord, 1922, before me, PERCY
S. BENEDICT, a Notary Public duly
qualified and commissioned in and for
the parish and state aforesaid, and in
the presence of the two undersigned COM
petent witnesses, personally came and
appeared Joseph W. Lennox. Esq. and
Robert J. Palfrey, Esq, respectively the
President and Secretary of the Eureka
Homestead Society, a legal corporation
of this parish and state, which said ap-
bearers declared to. me, Notary, and the
undersigned witnesses. that at a meet
ing of the stockholders of said Eureka
Homestead Society, held on the third
day Of the month of January, 1922, at
its domicile, No. AL Camp street, in this
city, and after all legal prerequisites had
been observed, there appeared, either in
person or by proxy, 1850 shares or
the capital stock of the said corpor-
alton, out of total Of 76.SiS shares,
and by unanimous vote of the stockhold-
ers present or represented, in accordance
with the general laws of this state and
of the exising charter of the said COM
pany, Articles III, " and of the said
charter were amended and re-enacted so
as to read as follows, to-wit:
ARTICLE III.
The objects and purposes of said cor
poration shall be the accumulation Of a
fund from the sale of full-paid stock.
and from the monthly installments paid
on account of subscriptions to the run
ming stock of this society, from rentals.
from premiums, and from interest on
loans. The funds so accumulated shall
be used for the purchase of real estate.
the building and renting Of homesteads.
and the lending of money upon mort
cages in the city of New Orleans and
society, as provided in the bylaws. No
loans upon other than real estate security
or stock of this society shall be made
without the consent of at least two-thirds
of the Board of Directors.
ARTICLE ".
j. The capital stock of this society
shall be Twelve Million Dollars $4,000 :
OOOOOl, which may be issued In running
and full-paid shares of Fifty Dollars
$4,000 each, or children's shares of
Twenty-Five Dollars (S25.OO) each. The
outstanding alphabetical and juvenile
shares, when withdrawn, matured. re-
tired or cancelled, may be issued to like
amounts in above classes. Running
shares and childrens shares shall be paid
for at the rate of Twenty-Five Cents per
share per month.
2. On shares pledged as additional
security for real estate loans, the monthly
interest due on such loans shall be first
deducted from each such payment, and
the difference entered as payments on
stock, provided, additional payments
amount, at the option Of the shareholder.
3. Full-paid shares shall be paid for
In full at the date of their issue Run
nlng shares may be converted into full
paid shares by the holder paying the
difference between the present value and
the face value of such shares, or when
such shares reach their face value: pro-
vided, that certificates of full-paid stock
shall be issued only when authorized by
ana subject to such terms and conditions
nf
Alphabetical and juvenile shares shall
enjoy the same privileges and be sub
Ject TO the same conditions.
4. Running shares and children's shares
snail be issued in such manner as may
be provided by the bylaws
D. Minors may subscribe for, hold.
transfer, withdraw and surrender stock
without the authorization of their par
ents, tutors or other persons; and mar
rled women may subscribe for, hold.
transfer or surrender stock without the
consent or authorization of their hus-
bands, as provided by law.
o. Payments on running shares, INSTALL
ments and interest shall be due and paya-
bic monthly, by the tenth of each current
month, at the office of the society: and
all payments shall be imputed: otto the
settlement of interest due: (2) to install
ments on shares; (3) reimbursement of
moneys paid for account of sharehold.
ers; provided, that this order of impu-
ma! Ue CnAngeu at the discretion
of the Board of Directors.
T. Any borrowing shareholder failing
10 make the payments required during
the current month, shall pay as a pen.
atty therefor One Cent on each share held
by him or her, or for each such failure
which shall be charged against such share
holder; provided, any shareholder thus
IN DEFAULT may have the penalty thereon
RENTED by paying twice the amount
which he or she owes at the time Of set
Element.