The herald., 1922-04-27
CHARTER.
AMENDMENT TO CHARTER OF INTER
sIAIE Ell ECIRIG

AMENDMENT TO CHARTER OF INTER
STATE ELECTRIC co.
United States of America, State of Louis
lana, Parish Of Orleans. City of New Or
leans, BE il known, that on this six
teenth day of the month of January. in
the year of our Lord, one thousand, nine
hundred and twenty-five, and of the In
dependence of the United States of Ameri-
ca the one hundred and forty sixth, be-
fore me- Selim Il. Lemle, a notary public.
duly commissioned and qualified, in and
for this City and the Parish of Orleans,
therein residing, and in the presence of
the witnesses hereinafter named and I'M
dersigned, personally came and appeared ::
Perciyal Stern and ]. ID. Lea, who de
clared that at a general meeting of the
stockholders OF the Interstate Electric
Company, a corporation organized by act
passed before Joseph Lautenschlaeger, a
notary public in and for the Parish of
Orleans Of date May list, 1904. and amend
ed by act before Arthur A. Moreno, q no
tary public in and for the Parish of Or
leans, of date February goth. 1913 and
further amended by act before Arthur a.
Moreno, a notary public, in and for the
Parish of Orleans, of date July 18th, 1918,
they were elected respectively chairman
and secretary of said stockholders meet
ing, as will appear by a certified copy of
the minutes annexed hereto for greater
reference, and that the said Percival Stern
and j. ID. Lea, as chairman and secretary,
respectively, of said stockholders meet
ing, were authorized and empowered to
appear before me for 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 said
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
ter OF the Interstate Electric Company,
passed before Joseph Lautenschlaeger, no
tary, on May LIST, 1904, and amended by
act before Arthur A. 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 or this corporation is
hereby fixed at one million, two hundred
fifty thousand Isl ,250,OO0) dollars
divided into twelve thousand. five hun
dred t12.5OO) shares of the par value of
one hundred (s1O0.0O) dollars each. OF the
shares authorized ten thousand (1C,OOO)
shares shall be common stock and two
thousand. five hundred (2,500) shares shall
be preferred stock. Each share of che com
mon stock shall be entitled to one vote,
In person or by proxy, at all meetings of
the stockholders. The preferred stock
holders shall not be entitled to any vote
at any stockholders meetings.
The terms, conditions, limitations and
provisions upon which said preferred !
stock is issued are these
THE holders thereof shall be entitled |
to receive out of the net profits a fixed |
cumulative dividend of eight (S9d) per |
cent per annum on the 18th day of Feb
ruary, of each year, and the par value of |
said preferred stock, with cumulative SoG !
and six per cent. 1921 interest
on arrears from the time they become due.
shall be paid in full out of the assets of
the company In preference to the common
stock In the event of any liquidation of the
whether through insolvency or
the termination Of its corporate exist
ence 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-
ditfonal earnings or profit.
Until the preferred stock has been re-
tired. no dividends shall be declared on
the common stock, unless all dividends
ana interest due on the preferred stock
have been actually paid.
Five years after its issuance, the COM
pany may retire any or all of the pre-
erred stock by payment of the par value
-hereOf, and accumulated dividends, in
'luding pro rata of the dividend for the
'urrent year, and interest on dividends in
lrrears, if any be due. and shall retire the
anne by making like payment, on sixty
oO) days written demand being made on
he company to do so by any holder of the
preferred stock.
The company shall have the right to
etire any or all of the preferred stock at !
my time before five 90 years by making
imilar payment to the above and a bonus | !
4 ten tl0Go) per cent. on the par value
4 such stock.
"The preferred stock shall cease to earn
dividends and interest from the day
designated by the company for the re-
irement of such stock.
This being an increase of seven thous-
No. hve hundred shares of preferred stock {
yer that authorized by the prior charter
Il this company, as amended by act be q
ore Arthur A. Moreno, notary public of q
ate July 18th, 1913 said increase of stock !
: to be disposed of as follows:
erein authorized shall be held in the 9
reasury of the corporation and sold from /
line to time at prices to be fixed by the [
oard OF directors, but at no time less
han par. o
'Of the seven thousand, five hundred {
hares of common stock authorized in /
rease herein, five thousand (5.OOO) shares 1
the par value of one hundred (S1OO.OO) /
ollars: or total of five hundred thous- c
nd (S5OO,OOO.00) dollars shall be paid by =
ne company as stock dividend out of [
he surplus of the company, as shown by 7
ne books of the company on October 31st. 5
wi, to the stockholders of the common a
took Of record on December 14th, 1921 or y
wo ~ shares for each share. An ac- 4
urate, detailed and itemized statement n
moving the description of the property Il
8 TO amount, location and character of o
he said surplus and what compose It, is | q
nile with the secretary Of this company, n
nbJect to inspection on request at all a
mes and a condensed statement thereof n
Ill be filed with the Secretary Of State a
the State of Louisiana and in tho office | n