The herald. [volume] (New Orleans, La.) 1905-1953, 1922-10-19
CHARTER.

| ana represented III
said meeting being the holders of more
than two-thirds of the outstanding capt.
tai stock Of said company, that the capt.
| tai stock of said company be increased
from seven hundred fifty thousand $3.50
OOOOO) dollars to one million, five hundred
thousand (Sl.J00, 000.O0) dollars
! The said James ]. A. Fortier and the
| said Elmer l.. Chesney, the president and
secretary, respectively, of Commercial
Credit Company, Inc, further declared
| that at said special meeting of stock
holders 1t was resolved that they, as Of
| ficers of the company, be authorized. en-
powered and directed to take such steps
as may be, or become necessary to make
effective the foregoing amendment to the
charter.
WhereupOn the said James J. A For
| tier president, and the said Elmer l..
Chesney, secretary, Of Commercial Credit
company, Inc, declared that they do now
| appear for and in behalf of said CONNER
| cill Credit Company, Inc, for the purpose
| OF making effective the action OF the
stockholders of said company by embOdy-
| ing the said amendment in nOtarial form.
and they now declare unto me. notary.
| mat Article " of the charter of Com
| mercial Credit Company, Inc. shall be and
| is now amended so as to read as follows,
| tO-uit:
ARTICLE Iv-The capital stock of
| this corporation is hereby fixed at one
| million, five hundred thousand dollars
!
Seven hundred and fifty thousand dol
! lars C$'5O,OOOOO) of preferred stock, re-
/ presented by seven thousand, five hun
| dred C.JO0) shares of the par value of
one hundred G1OOOOl dollars each; and
Seven hundred and fifty thousand dol
! lars $3.50 600 0O) of common stock, repre-
| scented by seven thousand five hundred
! (I.jOO) shares of the par value of one hun
| dred dollars (Sl00.0O) dollars each; all
/ of said capital stock to be full paid and
non as SeSsable.
| Separate and distinct certificates shall
/ be issued for each class of stock. Said
| stock shall be paid for in cash, at such
| time. In such amounts and after such no
| tice to the subscribers as may be fixed
| by the board of directors. and the same
may be issued at not less than par for
/ labor done and property actually received
] by the corporation.
THE corporation shall not become a go
| ing concern and be authorized to do bust
! ness until seven hundred and fifty thOus-
| and $3.50 OO000) dollars of its capital
| stock shall have been subscribed and paid
! for.
Preferred stock shall he and is en-
| titled to preference and priority over the
common stock in the following manner.
! tO-wit: To receive cumulative dividends
at the rate of seven per cent (1G) per
annum, accounting from February ], 1920.
| payable in one or more instruments as
| the board of directors may determine. be-
| fore any dividend on the common stock
shall be paid, and, upon liquidation or
dissolution, whether voluntary or invoI-
untary, after all of its debts shall have
been paid, the remaining assets, property
and effects shall be applied to the pay
mpnt of the preferrd stock at par, with
any unpaid dividend accumulation thereon
and before any payment is made to the
holders of the common stock: the balance
then remaining shall be divided among
and paid to the holders of the Outstand-
N nm CT M mr. N
stock shall be entitled to all net earnings
and profits in excess of the cumulative
dividend of seven per cent (1fo) per an
mum to be paid on the preferred stock, as
herein provided, but no more than six
per cent (6cc) dividend in any one year
shall be paid upon the common stock I'M
less and until after the payment thereof,
there shall remain surplus equal TO
fifty per cent (50eo) of the par value of
the then outstanding preferred stock in
which event dividends in excess of six
per cent per annum may be paid upon the
common stock.
"The board of directors shall have full
power and authority to redeem and retire
the whole or any part of the preferred
stock, on any day on which dividend
thereon shall be payable. by paying to
| the holders thereof one hundred and ten
dollars (S11O) per share and accumulated
dividends, provided that notice of such
intention be published for ten 10) con-
secutive days in a daily newspaper pub
lished in the English language in the
City of New Orleans. State of Louisiana,
the first publication to begin at least fif-
teen G5) days before the date of such
proposed redemption and retirement; and,
after the time fixed for such redemption,
dividends upon stock so redeemed or so
called for redemption shall cease to ac-
| crue. If any amount less than the whole
of the outstanding preferred stock shall
be retired. then the retirement shall be on
a pro rata basis so that each stockholder
shall contribute his quota towards the
stock so to be retired.
Both the preferred and the common
stock of this corporation shall have equal
voting powers.
1.-THE amount to which the capital stock
of this corporation may be increased shall
be the sum of five million. dollars $4,000
0O0) of which one-half shall be preferred
stock and one-half common stock, pro-
vided that there shall always be outstand-
ing an amount of full paid common stock
at least equal to the then outstanding
| preferred stock"
The said appearers did produce to me,
notary, to be annexed to and made part
of this act, a duly certified copy of the
minutes of the meeting of the stock
holders of said Commercial Credit Com
| pany, Inc, held on the Sth day of Septem-
Der. 1922. as hereinabove set out; and i.
said notary, have annexed the said copy
of the said minutes hereto and made same
a part hereof.
Thus done and passed at my office in
the City of New Orleans on the day,
month and year hereinabove first written
in the presence of Abraham Goldberk and
Raoul Sere, Jr., competent witnesses, who
have hereuntO sigHrd their names to-
gether with said appearers and me, said
notary, after due reading of the whole.
Witnesses: Original Signed: Abraham
Goldberg. RaOul Sere. Jr.
ORIGINAL SIGNED)
JAMES J. A. FORTIER, President.
f. L. CHESNEY, Secretary.
(SeaD AL. G. HAMMER.
Notary Public.
I. the undersigned Recorder of Mort
cages, in and for the Parish of Orleans,
State of Louisiana, do hereby certify that
| the above and foregoing Act of Amend
| ment of the Commercial Credit Co., Inc,
was this day duly recorded in my office,
in Book No. 1919. folio 76.
New Orleans, September II, 1922.
(Signed) ROBT. SCOTT,
by. Recorder of Mortgages:
hereby certify that the above and
| foregoing is a true and correct copy of
the original Act Of Amendment of the
charter of Commercial Credit Company
Inc, passed before me on the 18th day
of September, 1922, on file and on record
| in my Office, together with the certihcate
of the Deputy Recorder of Mortgages
thereto attached.
In faith whereof have hereunto set my
hand and seal of office, at New Orleans,
La. this 18th of September, 1922.
(SeaD AL. C. HAMMER.
Notary Public.
Sept. 21-0ct. 20.
CHARTER OF THE LONG BEACH CAN