The herald., 1922-10-12
CHARTER.

| resolved by unanimous vote OF all OF the
stockholders Of said company present and
represented at said meeting, the said
| stockholders present and represented at
said meeting being the holders of more
! than two-thirds of the outstanding CAPT.
| tai stock of said company, that the capt.
| tai stock of said company be increased
from seven hundred fifty thousand $3.50
| 000OO) dollars to one million. five hundred
thousand S1,500,00o.OO) dollars
! The said James ]. A. Fortier and the
said Elmer L. Chesney, the president and
secretary, respectively, of Commercial
| Credit Company, Inc, further declared
that at said special meeting Of stock
| holders II was resolved that they, as Of
| hcers of the company. be authorized, en-
powered and directed to take such steps
as may be- or become necessary to make
effective the foregoing amendment to the
| charter.
| Whereupon the said James J. A. For
| tier, president, and the said Elmer l..
Chesney, secretary, of Commercial Credit
Company, Inc. declared that they do now
appear for and in behalf of said CONNER
cial Credit Company, Inc, for the purpose
! of making effective the action OF the
stockholders of said company by embOdy-
ing the said amendment in nOtarial form.
and they now declare unto me, notary,
that Article Nv of the charter of Com
mercial Credit Company, Inc, shall be and
is now amended SO as TO read as follows,
| to-wit:
/ ARTICLE IV-The capital stock of
this corporation is hereby fixed at one
million, five hundred thousand dollars
| (Sl.JOO 100000. divided as follows:
Seven hundred and fifty thousand dol
lars S7j0O00O0) of preferred stock, re-
presented by seven thousand, five hun
dred (7.JOO) shares of the par value of
one hundred (s10O 00) dollars each; and
Seven hundred and fifty thousand dol
lars ls750O0o0O) of common stock; reprf,,
: scented by seven thousand five hundred
G15OO) shares Of the par value OF one hun
dred dollars Csl00O0) dollars each; all
of said capital stock to be full paid and
non -asseSsable.
Separate and distinct certificates shall
be issued for each class of stock. Said
stock shall be paid for in cash, at such
time. in such amounts and after such no
tice to the subscribers as may be fixed
by the board of directors, and the same
may be issued at not less than par for
labor done and property actually received
by the corporation.
THE corporation shall not become a GO
ing concern and be authorized to do bust
ness until seven hundred and fifty thous,
and $3.50 000.0O) dollars of its capital
stock shall have been subscribed and paid
for.
Preferred stock shall be and is en-
, titled to preference and priority over the
, common stock in the following manner
/, to-wit: To receive cumulative dividends
at the rate Of seven per cent Ffo) pei
annum, accounting from February i, ls2O
, | PAYABLE in one or more instruments as
the board of directors may determine. be-
fore any dividend on the common stoci
, shall be paid, and. upon liquidation oil
dissolution, whether voluntary or invol
untary, after all of its debts shall have
been paid, the remaining assets, property
/, ! and effects shall be applied TO the pay
ment of the preferrd stock at par, with
any unpaid dividend accumulation thereon
and before any payment is made TO tbs
i, holders Of the common stock; the balance
81 snsNN huh hA fWaA Tod nTle
! and paid TO the holders of the outstand
ing common stock pro rata. The common
stock shall be entitled to all net earnings
and profits in excess of the cumulative
: dividend of seven per cent (1%) per an
mum to be paid on the preferred stock, az
herein provided, but no more than si'
per cent (6To) dividend in any one yea
| shall be paid upon the common stock un
less and until after the payment thereof
there shall remain a surplus equal u
fifty per cent (50Fo) Of the par value o
the then outstanding preferred stock II
. which event dividends in excess OF 81
! per cent per annum may be paid upon TN
y common stock.
"The board of directors shall have full
4 power and authority to redeem and retir
a the whole or any part of the preferred
stock, on any day on which a DIVIDEND
thereon shall be payable. by paying Z
1 the holders thereof one hundred and tel
: dollars (S110) per share and accumulate
5 dividends, provided that notice of sucl
intention be published for ten 1O) con
\ secutlye days in a daily newspaper pub
i lished in the English language in tn
City Of New Orleans. State of Louisiana
I the first publication to begin at least nj
teen C15) days before the date of sue
. proposed redemption and retirement; and
4 after the time fixed for such redemption
dividends upon stock so redeemed or s
. called for redemption shall cease to &C
: crue. If any amount less than the Who'll
; | of the outstanding preferred stock sha
q be retired, then the retirement shall be o.
! a pro rata basis so that each stOckholde
shall contribute his quota towards tn
e stock so to be retired.
Both the preferred and the commo
n stock of this corporation shall have equa
a voting powers.
: "The amount to which the capital stoc
r of this corporation may be increased sha
e be the sum of five million dollars C$5OOO
e OO0) of which one-half shall be preferre
# stock and one-half common stock, pro
s vided that there shall always be outstand
n ing an amount of full paid common stoc
: at least equal to the then outstandin
II preferred stock.
The said appearers did produce to M
z notary. TO be annexed to and made a PAL
e Of this act, a duly certified copy OF IN
re minutes of the meeting of the stocL
n holders of said Commercial Credit Con
= pany Inc, held on the Sth day Of SepteH
Der. 1922, as hereinabove set out; and
.e said notary, have annexed the said cop
is of the said minutes hereto and made sam
> a part hereof.
s. Thus done and passed at my office
D the City Of New Orleans on the ia.
month and year hereinabove first write
n in the presence of Abraham Goldberk an
re Raoul Sere. Jr., competent witnesses, VII
have hereuntO signed their names &c
gether with said appearers and me, sal
Is notary, after due reading OF the wnol
,r Witnesses: Original Signed: Abrahal
IF Goldberg. Raoul Sere. Jr.
n ORIGINAL SIGNED)
lie JAMES J. A. FORTIER, President.
al f. l.. CHESNEY, Secretary.
Ell (SeaD AL. {: HAMMER,
% Notary Publ
pr I, the undersigned Recorder Of Nor
cages in and for the Parish of Orlean
10 State of Louisiana, do hereby certify Uni
~ the above and foregoing Act of AMEND
u ment of the Commercial Credit Co, In'
- was this day duly recorded In my OHIO
20 in Book No. 1873, folio 76.
=, New Orleans, September IA. 1872
p JSigned1 ROBT. SCOTT.
y by. Recorder of Mortgage
hereby certify that the above al
K foregoing is a true and correct copy NJ.
the original Act of Amendment OF u
10 charter of Commercial Credit Compan
lie Inc passed before me on the 18TH Ga
s. of September, 1922. on file and on recol
Il in my office together with the certinca
of the Deputy Recorder of Mortgag
thereto attached.
C. In faith whereof have hereunto set II
I'd hand and seal of office, at New orlean
r. La this 18th of September, 19Z2
Notary Publ