The herald., 1922-09-14

AMENDMENT TO CHARTER OF
| ELECTRICAL SUPPLY COMPANY.
| United States of America, State of Lou
| isiana. Parish of Orleans. BE il known
| that on this the 18th day Of the month
| of August in the year of our Lord. one
| thousand nine hundred and twenty-five.
and of the Independence of the United
States Of America. the one hundred and
| forty seventh. before me. Eugene II. Saun-
! ders, a Notary Public, duly commissioned
| and qualified within and for the parish
! of Orleans. state of Louisiana. therein
! residing and i'm the presence of the wit
nesSes hereinafter named and undersigned.
| personally came and appeared Leo l..
| Hirsh and Jacob {. LaZard. both resi-
| dents of the city of New Orleans, state
| of Louisiana, of the full age, herein APP
bearing and acting for and on behalf Of
| the Electrical supply Company, a Louis
lana corporation, dOmiCiled in the city
| of New Orleans, organized by act before
\. \. Moreno. a Notary Public. in and
| for the parish of Orleans, state of Louis
lana. on the 2Sth day of March. 1913. and
recorded in the Mortgage Office for the
| parish of Orleans in Book 1OSS Folio go
and pursuant to resolution passed at
a special meeting of the stockholders
convened on the 18th day Of July. 1922
a certified copy of which Is hereto at
tached and made part hereof
And said appearers declared that at
said special meeting Of the stockholders
| of said corporation, convened on the 10Th
day of July. 1922. which had been con-
which meeting the holders of the entire
capital stock of said corporation were
present either in person or by proxy.
the capital stock of said corporation was
and in order to effect said increase. as
well as the other changes decided upon
at said meeting. Articles ". and VII
Of the Charter of said corporation We're
amended and re-enacted so as to read
! as follows:
! ARTICLE ". The capital stock Of this
corporation shall be Two Hundred and
Fifty Thousand Dollars $3.50 O0l
shares of the par value Of One Hundred
Dollars (s1O00o) per share. payable when
issued. in cash or other property, or for
services rendered or actually performed
as decided by the Board Of Directors
and this corporation is to he a going
concern when Fifteen Thousand Dollars
S15 .O00.OO) of said stock has been sub
scribed and paid for. Said stock shall
be represented by certificates and shall
he fully paid and worcestershire when
issued. and shall be personal property.
ARTICLE V No stakeholder shall ever
be liable or responsible for the indebted
ness faul-s or defaults Of this corpor-
alton. nor shall any mere infOrmality in
the organization of the corporation have
any effect of rendering the charter null.
or nf exposing the stockholders to anv
liability beyond the unpaid balance. il
any. on his stock subscription.
No stakeholder shall ever be liable or
responsible for the Indebtedness. faults
or defaults of this corpOration nor shall
Of the corporation have any effect of rem
dering the charter null. or of exposing
the stockholders to any liability beyond
the unpaid balance. If any, on his stock
subscription.
No stakeholder may sell. or assign OF
3 transfer his stock in this corporation
without giving to the other stockholders
through the Secretary of this corpora.
. in inc nf S.tah fvta i'm
z and the other stockholders shall have the
r right for period of ten days from the
deliv~S~ of such notice to the Secretary
. 10 purchase all or any part Of the storl
Of such stakeholder for cash. at the boOl
D value thereof. after which ten days tn,
= said stock may be sold without 70
striction.
4 Other stockholders desiring TO purchas,
; stock under this article must in due time
, give notice Of such desire to the Secre
b tary Of this corporation. In the even
2 that other stockholders offer to buy mor'
stock than is offered for sale. StockhOldert
a offering to buy shall be entitled to buy
= the offered stock in the ratio of thei
a then stock holdings In this corporation
, For the purpose of this article the bool
y value shall be determined by the figure
: as shown on the last monthly fnancia
y statement.
f No sale, or other transfer or assign
u ment of stock in this corporation shall
y be valid until and unless opportunity Il
: purchase such stock has first been giveI
9 in the manner hereinabove provided T.
e the other stockholders Of this corporation
q and this right, so vested in the othe
< Into which 1t may pass any stock sold
: transferred or assigned. without sucl
opportunity being given, and may be ex
n thereof within ninety 900 days after sucl
| stock is rendered for transfers on tn
4 books of this corporation, and no transfe
: Of any such stock shall be made on tn
80 to A,,rf h.
dency Of said ninety 900 day period.
. ARTICLE VII. The business of thi
. | corporation shall be directed by and al
!. | of its corporate powers vested in a Boar
a of Directors composed of five stockhOld
! es, a majority of whom shall constitut
!, a quorum for the transaction of all bus
mess. Until the next annual election o
directors, to be held under this charter
n cessors are elected and Installed. tn
II Board of Directors of this corporation
y shall be composed of L. L. Hlrsch, VI.
,e Elgutter. T. Hirsch. ]. c. Lazard an
= all of whom is New Orleans, La. wit
l.. L. Hirsch as president NJ. J. Elgutte
= as vice-president, T. Hirsch as secretar!
q q nuaI election for directors shall be heI
# on the third Wednesday of June of eac
10 year, beginning with 1923. All such eleC
~ this corporation. between the hours G
1000 a. m. and 100 p. m, under tn
Di supervision of three commissioners to i
re appointed by the Board Of Directors, an
ne in the absence of any commissioner I'll
l. president shall have the power to fill tn
he place by appointment Failure to hol
I'd the election on the day specified shall NJ
re dissolve the corporation. but the director
ee then in office shall hold their respectiy
offices until an election shall be hell
III after fifteen days notice of the time an
10 place thereof is given to each stockholde
n All vacancies on the Board of Director
Whafpypr
remaining directors.
IN For all elections Of directors as well
a all meetings of stockholders, except {
no otherwise required by law. fifteen day
M notice shall be given by mailing to eaC
q stakeholder whose address is stated q
IN the books of this corporation, at his la
ha Delivery at New Orleans il he has
Of designated address, a notice stating u
m time and the place of the meeting. Ea6
ar stakeholder shall be entitled to one vo
20 for each share Of stock standing in b
~ name on the books of the corporation.
or be cast in person or by proxy, as
o. majority of the votes shall elect.
he At its first meeting each board elects
under this charter shall elect from \
IN membership n president. vice-presiden
er treasurer and a secretary, and sha
nj from time to time. as il sees fit, emplC
he or appoint such other employees as
be shall deem necessary. The Board
oh Directors shall have full power and al
or thority to fix the salaries Of all office
no and Of all such other employees as
~ may deem necessary. and to make ar
he establish as well as TO alter and amer