The herald., 1922-09-14
CHARTER.

commissioned and qualified in and for
the Parish Of Orleans, State of Louisiana.
therein residing, and in the presence OF
the witnesses whose names are hereunto
subscribed, personally came and appeared
Lucas +. Moore the vice president of Lu-
cas- +. Moore Stave Company, a corpora
ton duly created and organized under and
according to the laws of the state of
Louisiana. by virtue of Of an Act Of In
corporation passed before Charles T.
SOniat, notary public. on June 10th, 1903,
recorded i'm VI. O. Il. Sl3. folio 60; which
charter was amended by act before Charles
T. SOuiat, notary public, on May 10th.
1911. recorded in NJ. q. Il. lois folio Gal
also by act before VI. &. SOniat. notary
public, on June 18th. 1914 recorded in NJ
q. Il. 1927. folio l13; also by act before
Philip Gcnsler, Jr., notary public. on
March 10th. 1916. recorded in Mortgage
Office for the Parish OF Orleans in book
1898 folio 354. also by act before Philip
Gensler. Jr., notary public, on March IL
1917 recorded in Mortgage Office for III"
Parish of Orleans in book 1905 folio 400
also by act before Philip Gcnsler. Jr.. no
tary public May 9th. 1918. recorded NJ
q. Il. -, folio -; also by act before vii
liam j. Guste, notary public, August ~
1920. recorded in VI. o. Il. 1916. folio 40:
Who declared that a special meeting Of
the stockholders of Lucas +. Moore Stave
Company, held at the Office of the corpo-
ration, on the oath of July. 1922, at which
meeting all Of the capital stock Of said
corporation was present or represented
by the holders and owners thereof in per
son q by pOXy, il was unanimously re
seOlved that Articles " and V of the char
ter Of the corporation be amended so a.
to read as follows:
ARTICLE IV.-The capital stock of this
corporation is hereby declared to he one
million, four hundred thousand dollars
Isl 400. OOOOOD, as authorized. TO be di-
yided into four thousand shares of par
value of one hundred 100000 dollars
each Of authorized preferred stock. to be
paid for In cash and ten thousand shares
of common stock of par value of one hun
dred (Sl0O00D dollars each of authorized
common stock, to he paid for in cash or
its equivalent; this corporation To be a
going concern upon the Issuance to the
stockholders of thirty-twO hundred and
nifty shares of preferred stock and forty
hvc hundred shares of common stock, the
remainder Of said stock to remain in the
treasury and TO he issued by the board
Of directors on such terms and conditions
as they may fit provided that said
stock shall not be issued or sold for less
than its par value.
The preferred stockholders shall have
the first right to subSCibs to the author
lied preferred stock and the common
stockholders shall have the first right TO
subscribe to the authorized common stock.
The preferred stock shall receive divi-
dends at the rate OF eight per cent. per
amman out of the profits Of the company.
and no more, PAYABLE in semi annual in
| StalmentS on the first day of January
and the first day Of July each year
which dividend shall be cumulative and
no dividends on the common stock Shall
he paid until all dividends due aud cumu-
| lative on the preferred stock shall have
been paid or set aside.
The common stock shall receive the re
mainder of the net earnings of the com
| pany. or so much thereof as may be dis
| trbuted by the board of directors and not
| reserved for such surplus or undivided
| profits or special reserve fund as herein
| after stated.
on or about the first day Of July. 1921.
| and each year thereafter. long the
preferred stock shall remain outstanding.
| there shall be set apart and deposited
with the Registrar as a special reserve
fund out of the net profits of the company
= remaining after all accrued dividends up
, on the preferred stock shall have been
paid. an amount equal to at least eleven
] thousand Sl1.000.00) dollars for the pur-
! poses hereinafter provided. on or before
| July LIST. 1921. and each year thereafter
any preferred stockholders desiring TO re-
| ceive cash for his stock shall have the
right to send in bid directed to tn,
| registrar of the stock of the company
stating the least he will take for said pre
ferred stock which shall not he more thar
one hundred ten (s11OOm dollars pel
! share; and il shall he the duty of thu
| registrar to allot. so far as in his power
lies. TO the lowest bidder so much of th'
eleven thousand (s11.OO0O0 dollars re
| served on the date aforesaid: and If hi
bid shall not equal the eleven Thousand
| SI1 .0OOO0) dollars reserved on the dat
aforesaid. and If the amount of his stool
does not call for the eleven Thousand
(s11 O0) dollars in toto, the next low
est bidder shall receive out of said fnn'
his quota. and the next lowest bidder hi
quota; until the entire eleven thousan,
(sl10oOo 0) dollars shall have been all
sorbed in this manner. If the preferre
stockholders require ii.
In case two or more competitive bid
shall he for like sum. the amount a
the eleven thousand (s11.000O0) dollars q
such surplus as remains shall be divide
equally between the two or more competi
tive bidders: or II this cannot be con
. veniently done. the registrar shall hav
the right to decide by lot which of III
competitive bidders shall receive paymen
for their stock out of said special fund.
The said reserve fund of eleven thous
and (S11 .00000l dollars shall he depOsite
by the company ten 10) days previous {
=, july LIST. 1921. and each year thereafter
with the right to the holders of the pre-
ferred stock to bid therefor so long a
there is any preferred stock outstanding
If the fund so deposited is not fully nh
in any year. the amount not absorbed ma
he Withdrawn bv the company after An
gust LIST. Of such year.
ARTICLE v-The corporate powers O
this corporation are hereby vested In
board Of directors, consisting of thrice
|
The election Of the board of directors
consisting of thirteen stockholders. n
aforesaid. shall he held on the secon
Monday in March annually. All the cleo
lions shall be by ballot and conducte
under the supervision of two (2) com
missioners. to be appointed by the boar
of directors for that purpose.
Notice Of said election shall he given tei
days prio to the meeting Of stakeholder
by mailing each known stakeholder {
such address ms shall have been furnishe
by him to the company, or by publica
1. ton inserted in one of the New Orlean
papers three times in ten days, previOu
to said election.
Preferred stockholders shall elect thre
. directors. the common stockholders, te
! directors.
Vacancies occurring IN said board. froI
whatever cause. shall be filled by the r.
naming directors.
The said board OF directors shall max
all bylaws. rules and regulations for n
government OF the business and affairs
) the company, and alter, amend and chang
: the same at pleasure.
And the said appearer rurtner declare
, that he is authoiZed, empowered and d
Il rected to sign and execute all necessar
a acts and proceedings to carry out an
j effects the said amendments; and
. does now appear before me, notary.
order to make proper notarial record
| said amendment and to have same r
z corded as required by law, all Of whit
!. will more fully appear by reference to
! certified copy of the minutes OF sa
y stockholders meeting, hereto attached.
In hN~