The herald. [volume] (New Orleans, La.) 1905-1953, 1922-04-13
CHARTER.
AMENDMENT TO CHARTER OF INTER
STATE EIECTRIC co.

AMENDMENT TO CHARTER OF INTER
STATE ELECTRIC co.
United States of America, state Of LOUIS
lana Parish of Orleans, City OF New Ut
leans, BE il known, that on TINS STA
teenth day of the month OF January, IN
the year of our Lord. one thousand niue
hundred and twenty-five, and OF the IN
dependence of the United States OF Amer
ca the one hundred and forty-slNth, De
fore me- Selim Il. Lemle, a notary puolc'
duly commissioned and qualifled, IN anu
for this City and the Parish OF orleans,
therein residing, and in the presence OF
the witnesses hereinafter named ana uh-
dersigned personally came ana appeared
Perciyal Stern ana y. II. Lea VIM ue
cIared that at "A general meeting of the
stockbolders of the Interstate Electric
Company. corporation organized by act
passed before Joseph LautenschIaeger' a
notary public in and for the Parish OF
Orleans, of date May LIST, 1901, and amend
cd nv act before Arthur A. Moreno, no
tary public in and for the Parish OF Or
leans of date February 10Th, l9l3' ana
further amended by act before Arthur ~
Moreno, notary public, in ana Tor the
Parish of Orleans, OF date July llth, l"In'
they were elected respectively chairman
and secretary of said stockholders meet
ing as will appear by IA certified cOp* OF
the minutes annexed hereto for greater
reference and that the said PerclVal stern
and J. u. Lea, as chairman and secretary,
respectively, of said stockholders meet
ing were authorized and empowered TO
appear before me fox the purpose OF
amending the said charter Of the Inter
state Electric Company.
And the said appearers. as chairman
and as secretary, respectively, of the sai1
stockholders meeting and acting in said
capacities and on behalf Of said corpora
ton by virtue of the authority conferred
upon them at the general meeting OF the
said stockholders, declared that the char-
Int t.f.. (nmDAnX
passed before Joseph Lautenschlaeger, no
tary, on May 1st 1904. and amended by
act before Arthur 4. Moreno. notary, on
February 10th, 1913. and further amended
by act before Arthur a. Moreno, notary
public, on July 18th, 1918, has been
changed altered and amended so that
Article " in its entirety shall read as
follows:
"The capital stock OF this corporation is
hereby fixed at one million, two hundred
fifty thousand Csl.2JOOOO) dollars
divided into twelve thousand, hve hun
dred Q25OO) shares of the par value of
one hundred (S100O0) dollars each. OF the
shares authorized ten thousand tltrOOO)
shares shall be common stock and two
thousand. five hundred (2J00) shar.s shall
be preferred stock. Each share of che COM
mon stock shall be entitled to one vote,
i'm person or by proxy, at all meetings of
the stockholders. The preferred stock
holders shall not be entitled to any vote
THE terms, conditions, limitations and
provisions upon which said preferred
stock is issued are these:-
1.-THE holders thereof shall be entitled
to receive out of the net profits fixed
cumulative dividend OF eight (Sc6) per
cent per annum on the 18th day of Feb
ruary, OF each year, and the par value OF
said preferred stock, with cumulative SO
dividends. and six per cent. t6%o) interest
on arrears from the time they become due.
hall ha In, ftrn ant Of thn nf
the company In preference to the common
stock in the event of any liquidation of the
company, whether through insolvency or
the termination of its corporate exist
enee or any other cause. before any dis
tribution of capital shall be made to the
holders of the common stock. The pre-
ferred stock, however, shall not be en-
titled to participate In any other or ad-
ditional earnings or profit.
Until the preferred stock has been re-
tired. no dividends shall be declared on
the common stock, unless all dividends
and interest due on the preferred stock
have been actually paid.
Give years after its issuance, the COM
pany may retire any or all of the pre-
ferred stock by payment Of the par value
thereof, and accumulated dividends, in
GLIDING a pro rata of the dividend for the
current year, and interest on dividends in
arrears. il any be due. and shall retire the
same by making a like payment, on sixty
1907 days written demand being made on
the company to do so by any holder of the
preferred stock.
THE company shall have the right to
retire any or all of the preferred stock al
any time before five (5) years by making
similar payment to the above and a bonus
Of ten Q0%o) per cent. on the par value
Of such stock
THE preferred stock shall cease to earn
dividends and interest from the day
designated by the company for the re
trement OF such stock.
This being an increase of seven thous-
and, five hundred shares of preferred stock
over that authorized by the prior charter
Of this company, as amended by act be-
fore Arthur A. Moreno, notary public. OF
date July 18th, 1918, said increase of stock
is to be disposed Of as follows; 49,,
Al OF the increase In preferred stock
herein authorized shall be held Mn the
treasury Of the corporation and sold from
time to time at prices to be fixed by the
board of directors, but at no time Less
than par
"Of the seven thousand. five hundred
shares Of common stock authorized in
crease herein.s five thousand $4,000 shares
Of the par value Of one hundred ($1O0.OO)
dollars. or a total of five hundred thous
and $500. 000.O0) dollars shall be paid by
the company as stock dividend out Of
the surplus Of the company, as shown by
the books of the company on October 31st
1921, to the stockholders of the common
stock of record on December 14th. 1921, oil
two (2) shares for each share. An &C
curate, detailed and itemized statement
showing the description of the propert,
as to amount, location and character o
the said surplus and what compose 1t, 1,
on file with the secretary Of this company
subject to inspection on request at al
times and a condensed statement thereo
will be filed with the Secretary Of Stat,
Of the State Of Louisiana and in the offic,