The herald., 1922-08-17
CHARTER.

stating the least he will take for said pre-
fprred stock which shall not be more THAI
one hundred ten (Sll0OOD dollars ..
share; and il shall be the duty of Tia
registrar to allot. so far as in his powr
lies, to the lowest bidder so much OF III,
eleven thousand (Sll.UOOO) dollars r.
served on the date aforesaid. and il hi
bid shall not equal the eleven thou>au,
(Sl1. 10000 dollars reserved on thu. dat
aforesaid. and if the amount Of siS stool
does not call for the eleven thOuSaut
($l1,OoO.0O dollars in toto. the next low
est bidder shall receive out of sail fun
his quota. and the next lowest bidder hi,
quota, until the entire eleven thOu~tn,
(Sl1,0OOO0) dollars shall have been alb
sOrbed in this manner. If the prrfrrr,.,
stockholders require il.
In case two or more competitive bid,
shall be for like sum, the amount oi
the eleven thousand (Sl1.000OOD dollars OF
such surplus as remains shall be divided
equally between the two or more COmprti.
tive bidders; or if this cannot BE- con
veniently done. the registrar shall hay.
the right to decide by lot which of n,
competitive bidders shall receive payment
for their stock out of said special fund
The said reserve fund of eleven thou,-
and ISL 100000 dollars shall be deposited
by the company ten (10) days previous fu
July LIST, 1921, and each year thereafter.
with the right to the holders of the pre-
ferred stock to bid therefor so long ~
there is any preferred stock outstanding
IL the fund 40 deposited is not fully All
sorbsd by bids OF preferred Stockholders
in any year, the amount not absorbed may
be withdrawn by the company after Au-
gust LIST. of such year.
ARTICLE y-The corporate powers of
this corporation are hereby vested in a
board OF directors. consisting of thirteen
stockholders.
The election OF the board of directors.
consisting OF thirteen stockholders, a,
aforesaid: shall be held on the second
Monday in March annually. All the el-c-
tfons shall be by ballot and conducted
under the supervision of two 60 com
missioners, to be appointed by the board
OF directors for that purpose.
Notice of said election shall be given ten
days priO to the meeting Of stockholders
by mailing each known stakeholder TO
such address as shall have been furnished
by him to the company, or by a publica-
ton inserted in one Of the New Orleans
papers: three times in ten days, previous
to said election.
Preferred stockholders shall elect three
directors, the common stockholders, ten
directors.
Vacancies occurring in said board. from
whatever cause, shall be filled by the re-
naming directors.
The said board of directors shall max.
all bylaws, rules and regulations for the
government of the business and affairs of
the company. and alter, amend and change
the same at pleasure.
And the said appearer further declared
that he is authOized, empowered and di-
Fected to sign and execute all necessary
acts and proceedings to carry out and
effects the said amendments and he
does now appear before me, notary. in
order TO make proper nOtarial record of
said amendment and to have same re-
corded, as required by law, all of which
VIII more fully appear by reference to Il
certified copy Of the minutes of said
stockholders meeting, hereto attached
mus done and passed in by office in
the City of New Orleans. on the day and
in the month and year first above writ
ten. and in the presence of |. de yilleneuve
and Paul f. Chascz, competent witnesses
who have hereuntO affixed their sigma.
lures, with the said appeare and me. no
AIRY. after due reading Of the whole
Witnesses: Paul +. Chasez, l. de- Vii
eneuve.
(O(RIGINAL SIGNED)
LUCAS +. MOORE.
NSeaI) WILLIAM j. GUSTE,
Notary Public
Recorded Parish of Orleans II % "a
l2GS. folio 500.
true copy:
tSeaD WILLIAM J. GUSTE,
Aug. 17-Sept3-