The herald., 1922-04-20

Notary PuDnc. |
Mch. 16-Aur. 20.
CHARTER OF
THE MERCANTILE SERVICE CO., INC.
United States Of America, State of
Louisiana, Parish OF Orleans, City OF
New Orleans. BE 1t known that on TINS
the fourth day of the month OF April,
in the year of our Lord, one Thousand
nine hundred and twenty-five, before me-
CARL c. FRIEDRICHS, Notary Pub
lie, in and for the Parish of Orleans,
State of Louisiana, duly commissioned
and qualified, and in the presence OF the
witnesses hereinafter named and under.
signed, personally came and appeared
the several persons whose names are
hereto subscribed, all above the full age
of majority and citizens of the United
States Of America, who severally de-
clared that. availing themselves OF the
| benefits and provisions OF the Constitu
| ton of the State of Louisiana and OF
the laws of said state relative to the
| organizing OF corporations, particularly
Act 267 of 1914 of the General Assembly
| of the State OF Louisiana, and all amend
| ments thereunto, they have covenanted
and agreed, and do by these presents
| covenant and agree and bind themselves,
| as well as such persons as may hereafter
| ioin or become associated with them ana
| their successors, to form themselves unto
and ordain and establish corporation
| ana DOuN pOllliC III III" ioA
and purposes and under the stipulations
following, tO-wit:
ARTICLE /. The name and title OF
this CORPORATION shall be THE MERCAN-
TILE SERVICE CO., INC, and under said
corporate name II shall have and enjoy
succession for the period OF ninety nine
years from the date hereof, under It's
corporate name. commencing with the
date Of this act, unless sooner dissolved
by the action Of its stockholders or In
the manner provided by law; under It's
corporate name IL shall have and ENJOY
and exercise all the rights and powers
and privileges hereinafter set forth, as
well as those now granted or that may
hereafter be granted by law to corpora
lions Of this character, with full author.
, ity to contract, sue and be sued, pieaa
and be implicated, appear, answer and
prosecute in any and all courts or JUS
: tice and elsewhere; to make and use 9
I, corporate seal, which Is hereby described
as follows:
Two concentric circles having within
the words. "The Mercantile Service Com
pany, Inc" New Orleans in the margin
. and an Eagle design in the center.
To name and appoint such directors
officers, managers, clerks, attorneys
, agents and other employees to ADMIN
lister its affairs as may be deemed neeee'
{ sary and proper; to make and ordalr
such bylaws, rules and regulations fol
D the proper management Of its affairs al
r NAV be deemed necessary and proper
d and the same to repeal, amend and aitel
at pleasure. All,
s CORPORATION shall be in the City of New
d Orleans, State of Louisiana, and all cita
= lions or other legal process shall D.
served upon the President OF said corpor
: alton: or, in the event Of his absence, upol
S the vice-President, who is acting presi
!, dent; or, in the absence Of both, as IN
IL law directs.
i ARTICLE III. The capital stock o
], this corporation is hereby fixed at 81
Hundred Shares, Of which Two nun
= bred (2OO) shares shall be eight per cen
cumulative participating preferred stoc
l. at Fifty Dollars (S5O.OO) each and Fou
3 Hundred (40O) shares shall be commo
- stock having no par value, TO De pal
u for by the subscribers thereto, by money
e property or labor done at the time Q
= the subscription. The preferred stoc
:, OF this corporation is never to excee
n Thirty three and one-third (33 1-o) pc
4 centum of it's total capital stock. In
control and management Of this corpoI
10 alton, including the voting power and
other corporate powers, usually exercise
- by it. to be vested in common stock {
n the exclusion Of the preferred stoc
a herein created.
y. Said stock shall be represented by Gel
~ tifcates Of stock, signed by the Pres
/ dent and Treasurer; and, in the absene
4 of the President, by the Vice-Presiden
d and shall be transferred on the BOOB
Of the company only upon surrender
n proof Of loss or destruction OF the GU
a. standing certificate; and no stockholdt
X shall be entitled to vote on any share
to transferred TO him within thirty day
preceding the day upon which he
or tempts to vote same.
ty The capital stock shall be fully pal
Or and non assessable; when issued 1t sha
he represented by certificate and sha
| pr0nortv
I'd Transfers of the stock Of this corpo
RS alton shall be made only on the bool
k Of this corporation by the stockholde
k in person or by written proxy, an
r. under such regulations as the Board
I'd Directors may prescribe.
ch ARTICLE w. The preferred sto'
RS shall be entitled, out Of any and all su
s. plus net profits whenever ascertained,
accumulative dividends at the rate
be eight per cent per annum in each al
re- every wear hereafter in preference al
C. priority to any payment Of dividends
r the common stock for such year. art
he providing for the payment OF full DIV
m dends for any year on the preierr
De stock aud for any balance that may
all main due on accumulative dividends
ire such preferred stock for preceding veal
and n there shall remain any surpl
RS net profits not necessary for maintenah'
De improvements or enlargement, IL sn'
he be distributed as follows: TWENTY
(25) per cent Of said surplus net prof
'er shall be placed in a sinking fund to
o tire said preferred stock In accordan
~ with Article v of this charter; balan'
as, seventy-five (75) per cent. to be appli
'ee a to dividends on common stock not
ne exceed Eight Dollars $500 per shai
~ balance of this seventy-hve (I5) per ce
IL there be any, shall be applied to ex'
cb dividends equally divided per share ba
he on both preferred and common shar
In the event Of the dissolution or tern
all nation of the corporation, the PREFER