The herald. [volume] (New Orleans, La.) 1905-1953, 1922-10-05
CHARTER.

present and represented at
said meeting being the holders or more
than two-thirds of the outstanding capt. |
tai stock of said company, that the capl-
tai stock of said company be increased
from seven hundred fifty thousand tSI5O-
OOO.OO) dollars to one million, five hundred
thousand ($l500,000.0OJ dollars
The said James J. \. Fortier and the
said Elmer l.. Chesney, the president ana
secretary. respectively, of Commercial
Credit Company, Inc, further declared
that at said special meeting or stock
holders it was resolved that they, as Of
ficerS 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 ]. \. For
tier, president and the said Elmer T.
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 or the|
stockholders of said company by embody-
ing the said amendment in nOtarial form,
and they now declare unto me- notary,
that Article " of the charter of Com
mercal Credit Company, Inc. shall be ana
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
Isl SEQ. OOO.OO) divided as follows:
Seven hundred and fifty thousand dol
lars (S150,0OO00) of preferred stock, re-
presented by seven thousand, hNe nun
bred (75OO) shares of the par valu" OF
one hundred (SlOO00) dollars each; ana
Seven hundred and fifty thousand dol
lars $3.50 900 0Ol of common stock. repre-
scented by seven thousand hve hundred
q, 800 shares of the par value OF one nun
drrd dollars (SlO0.0O dollars each; all
a al IN no full DHld ana
non asSeSSable.
Separate and distinct certificates shall
| be issued for each class of stock. Sald
stock shall be paid for in cash, at such
| time. in such amounts and after such no,
] tice to the subscribers as may be hNeu
! by the board of directors. and the same
| may be issued at not less than par 1or
! labor done and property actually received
| by the corporation.
| THE CORPORATION shall not become a Go-
ing concern and be authorized to DO Ousl
ness until seven hundred and fifty thonS,
| and $3.50 OO0O0) dollars of its capita
stock shall have been subscribed and paid
for.
Preferred stock shall be and is en-
| titled to preference and priority over th'
| common stock in the following manner
tO-wit: To receive cumulative dividend,
| ut the rate of seven per cent CEo) PEI
annum. accounting from February l. l'Zo
= PAYABLE in one or more instruments a.
the board OF directors may hft'i hiAh''
fore any dividend on the common stocl
/ shall be paid. and, upon liquidation o
dissolution, whether voluntary or lnNol
untary. after all of its debts shal nav
been paid. the remaining assets proper!
and effects shall be applied 10 the pay
mpnt of the prcferrd stock ut par, VIII
any unpaid dividend accumulation thtreoi
and before any payment Is made TO IN
holders of the common stock the DaIanc
then remaining shall be divided amOni
and paid to the holders of the Outstand
[ ing common stock pro rata. The commo
stock shall be entitled to all net earning
, and profits in excess of the cumulatlN
. dividend of seven per cent (Ito) per an
I mum to be paid on the preferred stock, a
herein provided, but no more than 81
J per cent (6cc) dividend in any one yea
I shall be paid upon the common stock IN
2 less and until after the payment thereo
there shall remain n surplus equal |
$ fifty per cent (50f6) of the par value {
q the then outstanding preferred stock !
: which event dividends in excess OF 81
per cent per annum may be paid upon IN
y common stock.
The board of directors shall have flu
, power and authority to redeem and reul
= the whole or any part of the preferre
. stock. on any day on which a dlvlden
> thereon shall be payable. by paying
4 the holders thereof one hundred and u
u dollars (Sl1O per share and accumulate
- dividends. provided that notice OF sue
. intention be published for ten nO) COZ
N | secutive days in daily newspaper pu,
a liShed in the English language In u
= City of New Orleans, State of LOulslan
. the first publication to begin at least II
y teen 15) days before the date of sue
70 proposed redemption and retirement an
n after the time fixed for such redempto
- dividends upon stock so redeemed or
:, called for redemption shall cease 10 q
i crue. If any amount less than the who
: of the outstanding preferred stock sh'
20 be retired, then the retirement shali De ,
81. OF
= shall contribute his quota towards |
70 stock so to be retired.
Both the preferred and the comm
In stock of this corporation shall nave ecu
a voting powers.
r "The amount to which the capital sto
Or of this corporation may be increased s 6n
ne be the sum of five million dollars Cs0,Oc
50 OOW of which one-half shall be prefer
of stock and one-half common stock pi
rs yided that there shall always be outstan
IN ing an amount of full paid common sto
f. at least equal to the then outsldhui
ir preferred stock"
d. The said appearers did produce to i
lg notary, to be annexed to and made a pi
he of this act. a duly certified copy OF
he minutes of the meeting of the sto'
in holders of said Commercial Credit 20
o. pany. Inc held on the Sth day of Septe
Der. 1922 as hereinabOve set out; ana
he said notary, have annexed the said co
lis of the said minutes hereto and mace sa
le- a part hereof.
is Thus done and passed at my office
20 the City of New Orleans on the a
a month and year hereinabove hrst writ
on in the presence of Abraham GoldDerK
We RaouI Sere, Jr., competent witnesses,
le- have hereuntO signed their names
petber with said appearers ana me- 5
,,s notary. after due reading Of the VIII
or Witnesses: Original Signed: ADrah
of Goldberg, Raoul Sere. Jr.
an ORIGINAL SIGNEDD nz,,o,
he JAMES ]. A. PORTER, Presideh
in f. L. CHESNEY, Secretary
a az, lSean AL. c. KAMMEF
ns Notary Pub
har 7. the undersigned Recorder of Nj
cages. in and for the Parish or Orles
81 State of Louisiana, do hereby certliy I
al o the above and foregoing ACT OF Aine
ear ment of the Commercial Credit Co., I
es- was this day duly recorded in my OH
res in Book No. 1873, folio 70. 100
ave New Orleans, September IA. 1922;
ing Dy Recorder of Mortga
hereby certify that the above
ux. foregoing is a true and correct copy
the original Act of Amendment Oh
51el charter of Commercial Credit comps
ade Inc, passed before me on the 18TH
rs. of September, 1922, on file and on rec
-; in nv Office, together with the certih
of the Deputy Recorder OF MOrtg'
! | thereto attached.
,I;c In faith whereof I have hereunto set
md hand and seal of office, at New ORE
FER. La. this 18th of September, 1922
yer ~ ISaan AL. c. KAMME
d. Notary Pu
:. Sept 21-Oct. 20.
CHARTER OF THE LONG BEACH C