The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-14
CHARTER.

way, buss line electric light and power
and gas companies, any company doing
any business in whole or in part similar "a
/ that for which this corporation Is estab-
lished. or as may be now or shall here
1 after be permitted by law; to purchase
acquire and own any or all OF the prop
erty, assets, franchises and the stocks and
| bonds and other securities OF any corpor-
| alton or corporations organized under the
| laws of this state or OF any other state
| for all or any of the purposes herein de-
! fined or incidental thereto and to guar
| antee the bonds or other obligations and
dividends on the stock of any of said cor
poratiOns; and generally to do and per-
! form any and all acts and things and to
acquire, hold and exercise any and all
! rights, powers. privileges and franchises
as relate ia the objects herein set forth
| or any OF them, or such as may hereafter
be conferred by law upon corporations OF
| this character.
| ARTICLE IV.-The capital stock Of this
| corporation is hereby declared to be and
| is fixed as follows:
Two thousand five hundred s25O0O0)
| Dollars Of preferred stock represented by
/ twenty-five (25) shares Of the par value
OF one hundred (s100O0) Dollars each; and
Two thousand five hundred (s2.500.00)
dollars of common stock represented by
! twenty-five (25) shares Of the par value
of one hundred (s10O0O dollars each.
The preferred designations voting
the preferred stock shall be as follows:
The preferred stock shall be entitled in
preference to the common stock to divi-
bends at the rate of 10 per annum paya-
BILE quarterly or semi-annually as the
board OF directors shall determine and
such dividends shall be cumulative from
and after the date of issue thereof. No
dividends shall be declared or set apart
for payment on the common stock until
all dividends then accrued on the preferred
Saf 10
ment.
In any distribution Of assets other than
by dividends from surplus or profits.
whether voluntary or involuntary. the
preferred stock shall also have preference
over the common stock until the fuIl par
value thereof and 10 per annum thereon
from the date OF issue thereof shall have
been paid by dividends or distribution.
The preferred stock shall not receive any
dividends from surplus or profits in ex-
cess OF said par value and the amount
OF such accumulated dividends unpaid
thereon, hut the common stock alone shall
receive all further dividends and shares in
distribution.
All but not less than all OF the pre-
ferred stock shall be subject to redemp-
ton ut the option of the corporation upon
any dividend date at its par value and
accrued and unpaid dividends therein to
the date fixed for redemption npon III"
vote of not less than majority in interest
OF the outstanding common stock. Notice
OF the intention Of the company to redeem
the preferred stock shall be mailed thirty
days before the date Of redemption to
each holder of record of preferred stock at
his post office address appearing upon the
books of the company, and upon the de-
post of the aggregate REDEMPTION price
WIN anv national bank or trust company
in the City Of New York named in such
notice. payable to the order of the record
holders Of the preferred stock on endorse
ment and surrende of their certificates.
said holders shall at the expiration Of said
notice cease TO he stockholders. Upon
any issue Of additional stock of the com
pany of any class no holder of outstand-
ing stock OF any class shall be entitled Of
right nv reason Of such stock holding to
subscribe for. purchase or receive any
portion Of the additional stock so issued
but the board of directors of the company
NAV dispoSe of all or any norton of such
additional stock without Offering the same
in the first instance to the Stockholders
Of the company for subscription or pur-
chase.
The preferred stock shall not entitle anv
holder thereof to vote at any meeting OF
stockholders or election of the corporation
or otherwise to participate in apv action
taken by the COMPANY IF stockholders ex-
c'pt as NAV he required bv law: and eN-
cent that IL at any time the accumulated
and unnaid dividends on the preferred
stock tn the last dividend date shall e1uaI
seven (S7.OO dollars per share a meeting
Of the stockholders for the election OF d.
rectors shall he called in accordance with
the bylaws upon the request Of the hold
ers or record ~ ten C10ccl per cent or
more of the preferred stock then outstand
ing. and at such meeting and ut all other
meetings Of Stockholders for the election
~ directors held while any dividends on
said preferred stock to the dividend date
lost preceding such meeting. remain unde-
"lar"d the holders Of such preferred stock
Shall he entitled to vote along with th.
n"lners or the common stock for the cleo
uon of directors. and for that purpose the
holder ~ each share of said preferred
stock shall he entitled to one vote for each
nf said shares held by him: but such right
IN vote shall cease whenever all such &C.
clared.
This corporation shall he entitled -
heCin business whom fftv f5Oe,) per cont
or tho aggregate Of its preferred and com,
mon stock aS hNreinabove fixed shall have
by law
All stock shall he maid for in cash A.
NAV he iSSun1 for labor done or service.
nerformed for said corporation or for
nr"nerty rights actually received nv II.
The amount n which the canital stock
thfS conoratinn NAV he increased nv
nnn corporate action Is hereby declared
70 ne one hundred million $500 600 OO0 OOl
collars and anv increased stock now o-
hereafter authorized NAV no Of tho LIND,
or classes herein prescribed or NAV he in
"'"f vt W nart or other kinds or classes
~ stock which NAV he created and ,utbor
Hed with such preferences and nrjorities
"Hefhe- In dividends and linuidation nv
ntherwisn over or with respect 70 anv NJ
tho kinds or classes now created or ~
NV time hereafter existing. and with such
HnsiPnHtions and voting MOVIES or 70
str1ctions or qualifications thereof as NAV
no nrnScribed. '
NRT'CIF V-Thn co-noratn powers ~
ms cornoratiOn shall no vested in ard
Verc'Snd nv bor-d Of directors W nc
Gmrnsed ~ Eve ~ Stockholders m no
elncted annually at general meeting 81
sH'h stockholders 70 no hold on the third
tuesday in January Of Zach wear. ma
'nrtv Of the board Of directors shall con
sthnte onorum for the transaction Of
hnsin"sS unless tho bylaws Of this cor
noratfon. adonted nv the board ~ direc
tors. shall provide for n lesser number.
Notice NJ such meeting and Of al other
stockholders meetings shall he given in
mo manner prescribed bv law. and when
nor so prescribed. then written notice Of
sn"h meetings shall he addressed 70 eocb
octholder ut his last known place Of
r"sldenr" and dnnositnd in the rnst ~
rec ut least Fifteen C5l DAYS before tho
-at" of said meeting. postage prepcid
The hv-laws Of the cornoration NAV nro
vide for any additional form Of notice
At all such elections and Mt all eor-