The herald., 1922-11-30
AMENDMENT TO CHARTER OF IVORY
GARTER COMPANY.
l.. =. BEARD,
Notary Public

GAhTEh COMPANH.
United States of America. State of
Orleans, Be it known, that on this 9th
day Of November in the year of our Lord
one thousand, nine hundred and twenty
two and of the independence of the United
states of America the one hundred and
forty seventh, before me, T. NJ. Logan
Bruins, notary public, duly commits
stoned and qualified, in and for this city
and the Parish of Orleans. and in the
presence of the witnesses hereinafter
named and undersigned, personally came
and appeared, Mr.. Nugent b. Vairin. Jr.,
resident, of this city of full age of ma
jority, and president of the Ivory Garter
Company, duly Incorporated assocla-
ton, domiciliated in this city, created by
act or incorporation passed before Me-
loncy Charles SOniat. notary public. on
the twenty seventh day of August in the
year one thousand, nine hundred and thir-
teen, and recorded in the mortgage office
Of this parish in book 1119, folio Z, and
since amended; and also Mr.. Edward X.
Cameron. also a resident of this city of
full age Of majority, and treasurer of the
Ivory Garter Company, above described
Both Of said appearers declared: That
they appeared herein In their respective
capacities for said company, and also act
ing under and by virtue of a resolution
of the stockholders of the said Ivory Gar
ter Company. held in conformity with law
and under the conditions Of the charter,
at the office Of said company on Deem
Der 81, 1921; that there was present and
voting at said meeting 1898 shares OF
common stock and $50 shares of preferred
stock. That at said meeting said resolu-
ton provided for the amendment of the
charter Of the said company, increasing
the common stock authorized from two
five hundred thousand S50O,OOO.OO) dol
lars, of the par value Of ten $1,000 dol
lars per share, the disposal of the new
common stock to be: one hundred and
twenty-fiv thousand ($125. OOO.OO) to be
issued In place and stead of the present
common stock issued, of the par value OF
one hundred ($100.OO) dollars per share
seventy five thousand &75,OOO.0O) dollars
three hundred thousand $500, OO0OO) dol
lars to be held in the treasury to be dis
posed of in whole or in part as the board
Of directors might elect, provided tha
stockholders of record. and said resolution
further authorized said president and
treasurer to take such legal or notaria
copy Of the minutes of said meeting beine
hereto attached and made part hereof
And said appearers in their respective
capacities heclared that in conformity
with said resolution and in furtheranc,
charter Of the Ivory Garter Company b,
and the same is hereby altered ant
amended to read as follows:
| ARTICLE IV-The capital stock Of THU
ID hesssy ssS at dollars lax hun
which five hundred thousand $500, O60.0O
dollars shall be common stock and on
hundred thousand C$1Oo,0o0.0O dollar
stock. ali of which said stock shall b,
paid for in accordance with law: and tn,
capital stock shall consist of fifty thous
and (50OO0) shares of ten $1,000 dollar
Q,0O0) shares of one hundred $4,000
dollars each of seven per cent preferred
stock.
The preferred stock issued and out
standing prior to July /, 1917. shall b.
known as Series Az; the preferred stool
issued as of date July /, 1917 shall b,
known as Series b.; and all other pre-
| ferred stock shall be similarly issued, ri
| a serie or series.
The seven per cent preferred stock shall
be entitled to receive a quarterly dividen,
Of one and three -fourths q%%l per cent
pany upon the first legal day in April
July, October and January Of each year
prior to the holders Of the common stool
receiving any dividend upon their com
dividend, payable quarterly, on the sevel
per cent preferred stock. shall be cumu
The preferred stock shall also be pre-
ferred as to the assets of the company.
When the net profits in any one yea
ending December the thirty first, derives
from the manufacture and sale of tn
products of the company in that year
computed after the deductions from tn
earnings Of the seven per cent dividend o.
the cumulative preferrd stock, and afte
all other charges whatsoever, including
advertising, but not including dividend
( on common stock, shall amount to tn
| sums below set forth, the seven per cen
preferred stock shall be entitled to extr
dividends, as follows:
When the net profits shall aggregate TWEEN
ty thousand ($20.0O0.00) dollars to fort,
thousand $40 .0000c) dollars. the extra divi
dend shall be one n9d) per cent; when tn
net profits shall aggregate forty thousan,
($40.00000) dollars to sixty thousan,
($60.00000) dollars, the extra dividen,
shall be two (25) per cent; when the ne
profits shall aggregate sixty thousan,
($60O00.00) dollars to eighty Thousand
($SO00OOO) dollars. the extra dividen
shall be three (3%) per cent; when tn
net profits shall aggregate eighty thousan,
1850, 000.00) dollars to one hundred thous
and ($10000000) dollars. the extra divi
dend shall be four (4T6) per cent; whel
\ the net profits shall aggregate one hun
dred thousand ($100. 0O0O0) dollars o
more, the extra dividend shall be five (5%
per cent.
Beginning January I, 1919. the compan.
shall set aside for a special reserve fun,
not less than five thousand 100
dollars per annum. until the amount shall
equal sixty-two thousand. FIVE hundre,
(S62. 500.00) dollars, for the redemption o
"Series A" Of the preferred stock at on
hundred and twenty five ($1250O dollar