The herald., 1922-05-04
CHARTER.
AMENDMENT TO CHARTER OF INTER
STATE ELECTRIC co.

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 1t known. that on thls SIN
teenth day of the month of January IN
the year Of our Lord, one thousand nine
hundred and twenty-five, ana Oh tne ln
dependence of the United States OF Amerl-
ca the one hundred and forty SIKH pc
fore me- Selim Il. Lemle, a notary puDhe,
duly commissioned and quaiitled' IN anu
for this city and the Parish or orleans,
therein residing, and in the presence OF
the witnesses hereinafter named and un-
dersigned. personally came and appeared
Perciyal Stern and j. ID. Lea, VINO de'
cIared that at a general meeting OF tht
stockholders Of the Interstate Electric
Company. a corporation organized by act
passed before Joseph Lautenschlaeger'
notary public in and for the Parlsh oi
Orleans, of date May list, 1904, ana amend
ed by act before Arthur A. Moreno, no
tary public in and for the Parish of Or
leans, of date February 10th, l9l5, ana
further amended by act before Arthur "A
Moreno. a notary public, in and for the
Parish of Orleans, Of date July llth l'lo
they were elected respectively chairman
and secretary of said stockholders meet
ing, as will appear by certified copy Oh
the minutes annexed hereto for greater
reference, and that the said PerclVal stern
and J. ID. Lea, as chairman and secretary
respectively of said stockholders meet
ing were authorized and empowered 10
appear before me for the purpose oi
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 Salu
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 1st, 1901, and amended Oy
act before Arthur A. Moreno. notary on
February 2Oth 1913 and further amended
by act before Arthur A. Moreno, notary
public on July 1lth, 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 ($1,2j0,O00) dollars
divided into twelve thousand, hve nun
dred Q2 2500) shares of the par value OF
one hundred (S1O0.O0) dollars each. Of @ the
shares authorized ten thousand (l'rOoOl
shares shall be common stock anG Two
thousand five hundred (2.jOO) shartS 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
stock is issued are these:-
"The holders thereof shall be entitled
to receive out of the net profits a hNed
cumulative dividend Of eight (S1o) per
cent per annum on the 18th day OF Feb
ruary, of each year, and the par value OF
said preferred stock, with cumulative Spo
dividends. and six per cent. (61o) interest
on arrears from the time they become dus
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
company, 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-
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
"Five 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
cluding 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
(6O) 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 at
any time before five (5) years by making
similar payment to the above and a bonus
Of ten uOGt) 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-
tirement 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 11th, 1913, said increase of stock
is to be disposed of as follows:
"All of the increase in preferred stock
herein authorized shall be held in 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
crease herein, five thousand (5.O00) shares
of the par value of one hundred (S10O.OO)
dollars. or a total of five hundred thOus-
and $500. .000.00) dollars shall be paid by
the company as n stock dividend out of
the surplus of the company, as shown by
the books Of the company on October 3lst,
1921, to the stockholders of the common
stock of record on December 14th. 1921, or
two (2) shares for each share. An ac
curate, detailed and itemized statement
showing the description of the property
the said surplus and what compose it. is
on file with the secretary of this company.
subject to inspection on request at all
times and n condensed statement thereof
will be filed with the Secretary of State
of the State of Louisiana and in the office