The herald. [volume] (New Orleans, La.) 1905-1953, 1922-12-28
CHARTER.

per share, which said reserve fund shall
be invested in high grade first mortgage
bonds. The company reserves the right
to retire all, but no part of, the outstand-
ing Series A" preferred stock on any
date after January /, 1919, at one hun
bred and twenty-five (S125O0) dollars per
share.
Beginning July /, 1920, and annually
thereafter, the company shall set aside
for a special reserve fund not less than ten
Q0%) per cent of the face or par value of
all stock of Series b. of the preferred
stock, which is issued and outstanding
until the amount shall be sufficient to re-
deem all stock of Series b" so issued and
outstanding, at one hundred and twenty
five tSl25Oo) dollars per share, which SAID
grade first mortgage boGjs. The company
reserves the right to retire all, but no
part of the outstanding Series pre-
1920. at one hundred and twenty five
(S125.0O) dollars per share.
Beginning three years from the date OF
issuance OF all remaining preferred stock
the company shall set aside for special
reserve fund for each serie or series not
less than ten (109o) per cent per annun
of the face or par value OF all stock III
such serie or series so issued ana out
standing, until the amount shall be-
sufficient to redeem all stock of such
| serie or series at one hundred and twenty
| five (S125.O0) dollars per share, which sald
reserve fund or funds shall be invested IL
|
company reserves the right to retire al
| but no part of, the outstanding stock OF
each serie or series three years from IL
] suance at one hundred and twenty nv
| (S125.O0) dollars per share.
| The common stock shall be entitled to
and shall receive, a dividend or dividends
| at a total rate per cent equal to the tOta
| rate per cent declared upon the preferred
stock prior to the setting aside of any sun
| in said reserve FUNDS.
/ IA he
cent preferred stock shall be payable upol
the first legal day of January of the fol
lowing year.
All dividends for 1917, upon the sever
| per cent preferred stock, Series b" shal
1917.
| All preferred stock remaining in tn
| treasury of the company and not ISSUED
| shall be disposed of, in whole or in part
as serie or series. as the preferred
purpose, by ree-fourths vote shal
| elect provided the action Of such meeting
| shall be approved by the board Of direc
tors. Such stock shall first be offered t
| the preferred stockholders of record.
Except as otherwise provided for in THU
charter all preferred stock shall be en-
titled to the same rights. privileges ant
| immunities.
One hundred and twenty-five THOUSAND
1 ($125000.0O) dollars of the common stool
| 10 Dt lSsutu III pidSt anu stCou ~
common stock issued Of the par value o
one hundred ($100.00l per share; seventy
five thousand (s75,0O0.O0) dollars of tn
common stock to be sold as Of January
1922, or later, and all common stock re
naming in the treasury Of the compan!
| and not issued shall be disposed OF, Il
whole or in part, as the board Of diree
tors may elect, provided that same shal
first be offered to the common stock
holders of record.
Thus done and passed, in my office. a
the City of New Orleans, on the day
month and year hereinfirst above writ
ten in the presence Of William b. Gran
| and Frank Farrell, competent witnesses
! who hereunto sign their names with tn
said appearers and me, notary, after read
ing of the whole.
| Witnesses: VIM. b. Grant, Frank Far
| rell.
| lORIGINAL SIGNED)
IVORY GARTER CO..
n. B. VAIRIN, President.
Z. r. CAMERON. Treasurer
T. NJ. LOGAN BRUINS,
(SeaD Notary Public
| nv 2O-Iau