The herald. [volume] (New Orleans, La.) 1905-1953, 1922-12-28
TO CHARTER OF IVORY
GARTER COMPANY,


United States of America, State of
Louisiana. Parish Of Orleans, City of New
Orleans, Be it known, that on this 9th
day Of November In the year Of our Lord
two and Of the independence of the United
States of America the one hundred and
forty seventh, before me, T. NJ. Logan
Bruins, a notary public. duly commits
and the Parish Of Orleans. and in the
presence of the witnesses hereinafter
named ana undersigned, personally came
a resident of this city of full age of ma,
tority, and president Of the Ivory Garter
Company, duly Incorporated assocla-
ton, domiciliated in this city. created by
loncy Charles Soniat, notary public. on
the twenty seventh day Of August in the
year one thousand. nine hundred and thir-
Of this parish in book 11I9. folio z. and
since amended; and also Mr.. Edward II.
Cameron. also "a resident Of this city Of
full age of majority, and treasurer of the
Both Of said appearers declared: That
they appeared herein in their respective
capacities for said company, and also act
ing under o and by virtue OF a resolution
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
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
hundred thousand ($200, 0O000) dollars to
FIVE hundred thousand $500, 100000 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 five thousand (s125, OOO.OO) to be
issued in place and stead Of the present
H.
one hundred .(s1OO.OO) dollars per share /;
seventy-fve thousand ($75,OO0.00) dollars
to be sold as of January 2, 1922. or later
three hundred thousand ($300,000O0) 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 that
same should first be offered to the common
stockholders of record, and said resolution
treasurer to take such legal or notarial
action to so amend said charter, true
copy of the minutes Of said meeting being
hereto attached and made part hereof.
capacities nedared that an conformity
with said resolution and in furtherance
Of their instructions article Nv of the
charter Of the Ivory, Garter Company be
and the same is hereby altered land
amended to read as follows:
ARTICLE Iv-The capital stock Of this
corporation is hereby fixed at six hun
dred thousand (s60000O.O0) dollars, OF
which five hundred thousand $500 00.0O)
hundred thousand G10O,000.0O dollars
shall be seven per cent (7%) preferred
stock, all of which said stock shall be
capital stock shall consist Of fifty thous-
and 100000 shares of ten $4,000 dollars
each of common stock and one thousand
1,0OO) shares Of one hundred (s1O0.O0l
dollars each Of seven per cent preferred
The preferred stock issued and out
standing prior to July !, 1917, shall be
known as Series A.; the preferred stock
known as Series b.; and all other pre-
ferred stock shall be similarly issued, as
a serie or series.
The seven per cent preferred stock shall
be entitled to receive a quarterly dividend
of one and three-fourths 1%%) per cent
payable out of the net profits Of the com
pany upon the first legal day in April
July, October and January Of each year.
prior to the holders Of the common stock
receiving any dividend upon their COM
mon stock holdings. This seven per cent
dividend. payable quarterly. on the seven
per cent preferred stock, shall be cumu-
iative.
The preferred stock shall also be pre-
ferred as to the assets of the company.
ending December the thirty -frst, derived
from the manufacture and sale Of the
products Of the company In that year
computed after the deductions from the
the cumulative preferrd stock, and after
all other charges whatsoever, including
advertising, but not including dividends
on common stock. shall amount to the
sums below set forth, the seven per cent
preferred stock shall be entitled to extra
dividends, as follows:
When the net profits shall aggregate TWEEN
| ty thousand ($20.000.OO) dollars to forty
thousand (s40. 000.00) dollars, the extra divi-
dend shall be one Qee) per cent; when the
net profits shall aggregate forty thousand
| (s40.000.00) dollars to sixty thousand
(s60. OOO.O0) dollars. the extra dividend
shall be two (2es) per cent; when the net
profits shall aggregate sixty thousand
($60OO0.00) dollars to eighty thousand
$50 0O000) dollars. the extra dividend
shall be three (3T) per cent; when the
net profits shall aggregate eighty thousand
(sS0,OO0.00) dollars to one hundred thous-
and (S1O0.O00 00) dollars. the extra divi-
dend shall be four (49b) per cent; when
the net profits shall aggregate one hun
dred thousand $780, 00.00) dollars OF
more the extra dividend shall be five G9o)
per cent.
Beginning January /. 1919. the company
shall set aside for a special reserve fund
not less than 1--WE thousand $4,000 90.
dollars per annum. until the amount shall
equal sixty-two thousand, hve hundred
| 1852 500 OO) dollars, for the redemption Of
"Series A" Of the preferred stock at one
hundred and TWENTY-FIVE (S12oOO) dollars