The herald. [volume], October 27, 1921, Page 8, Image 8

About The herald. [volume] (New Orleans, La.) 1905-1953

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RAILROAD PLAN TO10
GET RATES DOWN
PROPOSE TO REDUCE WAGES AND
RETURN ALL THE SAVINGS BY
REDUCTION IN CHARGES.
FULL TEXT OF PROPOSAL
Statement By Thomas Dewitt Culyer.
Chairman of the Association of
Railway Executives, on the
Situation.
Following a meeting in Chicago,
October 14, 1921. of the pre-idents of
searly all the leading railroads in the
country, Mr. Thomas )ewitt Cuyier,
chairman of the Associatio)n of Rail
way Executives, made the following
statement:
At a meeting of the Association of
Railway Executives today, it was de
termined by the railroads of the Unit
ed States to seek to bring abo:t a re
duction in rates, and as a means to
that end to seek a reduction in pres
ent railroad wages, which have com
pelled maintenance of the present
rates.
An application will be made Im
mediately to the United States Rail
road Labor Board for a reduction in
wages of train service employees suf
flolent to remove the remainder of the
increases made by the Labor Board's
decision of July 20, 1920. "which would
involve a further reduction of approxi
mately ten per cent," and for a reduc
tion in the wages of all other classes
of railroad labor to the going rate for
such labor in several territories where
the carriers operate.
To Reduce Ratee as Wages Go Down.
The foregoing action is upon the un
derstanding that concurrently with
such reduction in wages the benefit
of the reduction thus obtained shall,
with the concurrence of the Interstate
Commerce Commission, be passed on
to the public in the reduction of ex
isting railroad rates, except in so far
as this reduction shall have been made
i the meantime.
The management has decided upon
this course in view of their realiza
tion of the fact that the wheels of in
dustrial activity have been closed down
to a point which brings depression
sad distress to the entire public, and
that something must be done to start
eam again in operation.
The situation which confronts the
railroads is extremely critical. The
ailrosds in 1920 realized a net rail
way operating income of about $62,
000,000 upon a property investment of
over $19,000,000,000 and even this
rmount of $62,000,000 included back
mall pay for prior years, received from
the government of approximately $64,
O0,000, or thus showing, when the
eperations of that year alone are con
tidered, an actual deficit before mak
g any allowance for either interest
or dividends.
The year ended in serioup deptes
gina in all branches of industry, and
in marked reduction of the market do
mand for and the prices of basic com
modities, resulting in a very serious
falling off in the volume of traffic.
Roads Forced to Defer Maintenance.
In this situation, a policy of the
most rigid economy and of postpon
lag and cutting to the bone the up.
keep of the properties was adopted by
the railroads. This was at the price
if neglecting, and for the time, de
f a work which must hereafter
na l the near future be done and
paid for. This is illustrated by the
Aot that, as of September 15, 1921,
ever 16 per cent or 374,431 in number,
ot the freight ears of the carriers were
i bad order sad needing repairs, as
agaainst a normal c bad order cars of
sot more than 100,000 uas is further il
astrated by the deterred and inade
aete maintenanmes of other equipment
and of roadway and structures.
Evean under thoee conditions, and
With this large bill charged up against
the future, which must soon be pro
vided for and paid if the carriers are
io perform.successfully, their trans
pertation duties, the result of operas
tions for the first eight months of
this year, the latest available figures,
hs been at a rate of net railway op
orating income, before providing for
'aterest or dividends, amounting to
maly 2 per cent per annum on the
valuation of the carrier properties
made by the Interstate Commercoe
Commissilon in the recent rate case,
any amount not sutflcient to pay the
latrest on their outstanding bonds.
Earning Far Belew Reasonable
Returns.
manlfet, from this showing,
rito of return of 5% or (
aot for the first two years after
Smareh 1. 190, fixed in the transpor.
-. ttlem et as a mlnmum reasonable
U tara turpe railroad investment, has
met bm evem approdmated much
asm reached; and that the present
Shigh rae accordingly are not due
W amy istttory gnarantee of earenintse
- r there i no such guaraatee.
Is antalysn the expeanses which
have largely brought about this situa
" e, It emmcees evident that by far
th largast contribting ame i the
Sbe rr out
Teoday the ralad per eut to labee
e amlmately 0 oests ae the dml
r Mher rmeive m r transertale
oenes, whereas en 21& mU ots enr
Se dollar west o teher,
On the first ar'rf January, 1ess
MOI o 1.s. f vMN S Ywrpw r u ,, , _ r + ýIIM: a0 9a0
r ýawý f nNr lrno
tit
Qv ci,.s
IOIE
when the government took charge of
wages through the Adamson act, the
labor cost Of the railroads had not
exceeded the sum of about $1,468,000,
000 annually. In 1920, when govern.
mental authority made the last wage
increase, the labor cost of the rail
roads was about $3.698,000,000 annu
ally, or, if continued throughout the
year instead of for the eight months
during which the wage increases were
in effect, the labor cost, on an annual
basis, would have been largely in ex
cess of $3,900,000,000. an increase since
the government took charge of rail
road wages in the Adamson act, of
approximately $2.450.e00.000 annually.
In the light of these figures it is
manifest that the recent reductioS
of wages authorized by the Labor
Board, estimated at from 10 to 12 per
cent, in no sense meets or solves the
problem of labor costs and in no way
makes it possible. for the railroads to
afford a reduction in tneir revenues
Thousands of Rates Already Reduced.
Indeed, during the past year there
have been between four and five thou
sand individual reductions in freight
rates. On some railroads the reduc
tions in rates have amounted to more
than the reductions in wages, allowed
no net return on operations, but mere
ly provided against further accumula'
tion of deficit.
The point is often made that agri
culture and other industries are also
suffering the same immediate difficul
ties as the railroads. Why, therefore,
do not the railroads take their medi
cine like anybody else? The answer
The railroads were not permitted,
as were other industries, to make
charges during the years of prosperity,
making possible the accumulation of
a surplus to tide them over the pres
ent extreme adversity. According to
the reports of the Interstate Commerce
Commission, the rate of return in prop
erty investment of the railroads of
the United States for the past several
years has been as follows:
RATE OF RETURN EARNED
BY RAILROADS OF TIlE UNIT
ED STATES ON TIfEIR PROP
ERTY INVESTMENT.
1912 ......................4.84%
1913 .......................3.15%
1914 .......................4.17%
1915 .......................4.20%
1916. 4.20% Fiscal year ...5.9t0%
1916 4.20% Calendar year..6.16%
1917 ......................2.26%
1918 .......................3.51%
1919 .......................2.46%
1920 .......................0.32%
It will thus be noted that during
the years when other industries were
making very large profits, when the
prices of farm products and the wages I
of labor were soaring to unheard of
heights, the earnings upon railroad in
vestment in the United States were
held within very narrow limits and
that they have, during the past four
years, progressively declined.
Roads Handicapped More Than Other
Business.
The railroads are responsible to the
public for providing adequate trans.
portation.
Their charges are limited by pub.
lie authority, and they are in very
large respects, "notably for labor,"
compelled to spend money on a basis
fixed by pubic authority. The margin
within which they are permitted to
earn a return upon their investment,
or to offer inducements to attract new
capital for extensions and betterments
is extremely limited.
However much the railroads might
desire, therefore, to reduce their
charges in times of depression, It will
be perceived that the limitations sur
rounding their action do not permit
them to give effect to broad and elas
tic policies which might very properly
govern other lines of business not
thus restricted.
It has been urged upon the railroads
that a reduction in rates will stimulate
traffic and that increased traffic will
protect the carriers from the loss Inci
Lent io a rt-dction in rates. The rall
road managementi cannot disguise from
themselves that this suggestion is merely
conjectural and that an adverse result I
the experiment would be disastrous pot
.nly to the railroads, but the public,
whose supreme need is adequate trans
portation.
Consequently the railroad managements
cannot feel Justtified in placing these ln
strumentallties, so essential to the public
welfare, at the hamard of such an experli
ment based solely uapon such a on
jecture.
Parmers Especially Need Lower Rates.
It is evident. however, that existingl
transportation cbsrgs bear in many cases
a disproportlonateU relationshlp to the
price at which eommoditles can be sol
a the market and that esxistin labor
and other costs ae transportation thus l
posed upon laduitry and ariculture
eneray a buLen ireaterlly trha
agrlculture. The ralo managements
are teelin senattive to and symnoathetle
with the distres~ g situation and desre
to do every tioS a-ssist in relleving
it that is com  with their duty to
furnish the trapotation which the
publlc must have
At the moment rilroads, in many
ca. are payig cats an houo ter
umkllled labor when similar labor le
workinsb lonaide the railroads and an
asly obth by them at ag cuts
an hour. The eds of the country
pad in ia. a is i oomsderably er
100. 0.000 i umrilel labor alone,
Mowever desirble t may be to pay thL
or that schedule wages, it is obviet
that it cannot be paid out of railroad
earal unless the I~ndustries which use
the ralroads ·sr eepable of meting ee
The reile_ and throu¶h them the
a.~V7?.SL.IUeo by a schedule
Sworkingl rules and condItions now in
torce, u a herltol from the eriod of
The condltio r expensive iuneno
oin* cad ues rom the point o
view a ralloaL emt and extrm
ly burdensome _ide the public, whisk
pa he bill. TP Sekedudmleof wiges en
Sworklng o tlns event ts the l
oas rorm dea wil eeultably with telr
Loor ceoss in eseen with ratly
ehangin co .l ad theant verety
ntroma wae In Jfferet t
have thsse rut sig 2L .
The ralroad US sseL a rductin in
_. u. . l , as s as the
The Black Faced
"Sleuths"
By HAROLD SINCLAIRE
(tj. 1t1, Western Newspaper Ublito.)
"I tell you, I lave. that fellow, Ralph
Tildlen, iit oorthy of your sister,"
said Mart Woods.
"All you've got to do is to convince
me of the fact.' replied Ilave Iirierly,
hirothelr of Rose Blrierly, the prettiest
girl in liramnpton.
"I can dio that." asserted his com
pinlion positlvely. "I1ll convince you,
all right," asserted Mart. "The only
thing Is to convince Rose."
"I il get his walking papers nighty
quick if he is the wolf in sheep's cloth
ing you say he is," observed Dave,
snmartly.
"V\'ery ell, I'll have seine news for
you in a day or two." plromilsedi Mart.
"I'll show the rascal up In his true
colors."
ltose hain never given the least en
couralgemlent to Mart's advances. In
fact, she had never known what love
mneant until Ralph Tilden had come
into her life.
The latter was a manly young fel
low, whom every girl might he proud
to attract. lihe had been recently ad
mitted to the bar; his first case in
court had been the defense of a poor
woman whose suit other lawyers had
dcclined because she could not pay
a fee. Ralph hail won the case, its
details got into the public prints, and
he had earned golden opinions as to
his professlonal ability and his phil
anthropic unselfishness.
All unconsclous of the deft plots
being woven to disturb their happi
ness. Rose and Italph passed some
pleasant hours. Mart came to Dave
Brlerly one day, elated and confident.
"Well, I've got the goods on that
Tilden," he announced. "Twice a week
he leaves his office at about eight
o'clock in the evening. He never gets
home until two in the morning. A
fellow who does that regularly is up
to something, isn't he?"
"As what, now?" challenged Dave.
"Well, carousing around. Let us be
on hand tonight to take up the trail
when he leaves his office."
"I'm agreeable, provided we can do
it. I don't want to blunder myself
into a laughing stock."
"Say." advanced Mart with spirit;
"I've arranged a great plan. We'll
disguise ourselves."
"Hlow?" questioned Dave. dubiously.
It took a long time for Mart to In
darce his companion to join forces with
him. His plan was a simple one.
They were to blacken their hands and
faces.
At length Dave agreed to the propo
sitlon. About eight o'clock that
evening the young lawyer, Ralph
Tilden, left his office.
A drizzle changed into a dreary
pelting rain in a short time. Dave
was glad when at last Tilden reached
a two-story building on one of the
lower strata streets of the city.
"Do you see !" cried Mart, exulting
ly, grasping the arm of his companion.
"What did I tell your"
"Why, what do you mean?" inquired
Dave, staring blankly.
"That place-downstairs, saloon,
upstairs the most notorious gambling
house in the city."
"How do you know it is?" submitted
Mart pointedly.
"Why--er--that is, I heard so-some
one told me," explained Mart stum
blingly.
In his excitement the speaker wiped
his face with his handkerchief. Some
people passing by stared strangely.
Then a policeman came up, regarded
them with a susplelous glare, and
caught each by the collar.
"Ah!" he remarked--"dlsguising
yourselves, eh? You'll explain this to
the sergeant, my hearties."
Remonstrances were In vain. A
hooting crowd followed the two seek
ers after "local color" clear to the sta
don. No wonder! Where the rain
had trickled and their careless hands
had wandered, the faces of the un
happy captives were streaked in lu
dicrous patches of lamp black.
Somehow, they managed to get out
of their trouble; somehow, too, the
story got out.
'There seems to be something to
explain," remarked Rose to Ralph the
next evening.
"Ma chere, e'es que je t' alme," re
piled Ralph, enlgmatically-"whleh
means, how much I love you. In other
words, a poor teacher of languages,
too poor to select his preferable real
dence, lives in the building where our
good friends located me. He has been
teaching me French."
Which explained the seeming mys
Sery and made fair, trustful Rose
Brierly love him more than ever.
Nothing to It
"What's the excitement?"
"A man is paying a fool election bet
by standing on his head in the middle
of the street."
"Umph !"
"I wouldn't censure him too se
verely. This may he the first time
in years that he's had any occasion to
n~. his head"-Birmingham Age-Her
ald
CHARTER.
DIXs IOIIETlEAD AsbsOIATION.
United States of Ameries, State of Loats
Iass, Parish of Orleans, City of New Or
lansr. Be it knowm, that om this 27th day
if the month of September, in the year eo
ear Lerd. one thousad, mise huLdred sad
twenty-one, and tof the Indepeadeaee of the
United States of Ameriea the one huadred
mad forty-sixth, beo*re me. Alaa ymoad
Beary, a ntary publie, daly eommlssed,
,nnwr ad qali fi ain for the Parish
mad Sate aor , thererl resldn, sa
In h- CHARTER.
in Ihi' lprs n l'cle of the witnls .e herein
after namned and un,,'rsigned, personally
camle and appeared. Frederick 'V. Gray,
liresid-e nt Ir. Willia m. A. . Gillsplie, vice
Ipr side nt : \Villi:ulln J. Soeilll n1anll . se'r ,"
t.iry tre.i-iurir. tint A m.li a Eichhorn,
,a-shi ler. I're.sident. Vie P'rtidtent. Sre're
tar" Tr-r.sur,.r a: ! (':ashier. r,'spi. 'ctively
of thfe li' xi . h, II Ie,-te:aid .A'is hlatian. a
rl,,raliin Icre:ted uindl r the l:ws of this
Steli. dioniciled in the ('ity of Neiw or
lit", i h iia n A. t p -ls.ld htit'ore .Albert
;iilla iiit. !:i te N iotary I'ubli', Aprll 11.
i!' 7it. re e 1 .'1r In I s he o ffi ,',e if 1 h, ltec. ordi ,r
i.t Mortgaiges for the li P rilh .rf CIrleans,. in
Il k .77. foli') e ; iri l idled bly an A' t
rn- tsit efrire the rhr iiinedl itairy
\ r,.ither 4. 19tht, recorided iln Mtlrtgige
l i,.e l t.i n k !. Tl, folio -47. and l, imiendedt
iby an ll t :i isseld lefoare Ithe und.ar-ictined
it:ary. lApril let.1 7.1!17, re.-oritrl ini .lort
e ,t,. (fl'i,.e look 125t, folio 4i20.
lIere-in a, tinlg under and by virtue of a
re-,,lobtioin adollted by the st, khotlders of
i, liile Himi I u uI,,.ast."d \assu oclation, at a
-en rnil noe.tint hIhld A.ltril 14. ,1921. a ,i'r
inel cpiY of ani etr:wt of the minlute'i oif
til flia tiiug bieinii hereto alunieiXd i i ,part
hereof.
AnI the s:iil app.arirs , -et:irel, that at
-aid l ,i etiig of Ith- .,haret olders of s:il
, rp.,ration Art. le' IV aiind V were.
Artil, IV, lb -ty tlha. init the wsrrds, '"The
S litil stock of this corpliratiuon shall ie
tie t' t tillinl i.ti 1"5ii).15t dollars". to reald.
IThii" apltlil stick of thiis corporation
-hail he. iftet-n millitin ($11tilM,1)ihlMi) dol
a.\u \.rtWih V. was anraitelad by addingr
Ithe words or her' it itht ... ii i of Ill' faourthf
lini, trait the (tp of said artlle; and by
.a'ilinI the wi lis "'Th dirtesturs tiay ele't
:ui .s ,istar ,t Sea try R wli t iii e,'d i lot be'
:l tirnt'l (or." it hlla .end of the third f iarea
mlgrilah of said art ilh.
Antd they, the said appliearers were duly
mllthorized u .emp owered to en Use said
aiinindtllints toi the clharter of said Diirie.
llnit-t.iead iA-sociatioin to be etibitdied in
a niilt rilIl tet.
N1uw. therefolrr.' In aeiordatr'ee with said
re-itin, they.l the said apl hparers a fting
it their iforesaid ap tacitih. having tap
e: areil .efor, ite. rnotatry, for the. purpose
fli placingli. srull amendmentt to the charter
f saitd Iixie llotieste:ld .Asl eliation in
tille'til form b' not arial at. itdo now de
hlre that Arlticles IV atisn V are hereby
aeniirodedi s nas to hereafter be and read
is follows. to-wit:
"AIItTI('L'E IV -The ealpltal stock of this
eorporation shall be fifteen million ($15,
(MMiIMMs) dollar<. to lbe reiipres-ente'd by
shliaires of ione hunidred (5100i dlllhirs each.
The shiare, of this association shall be of
thio kinds, "running shares" and "paid-ul
shar es" to be paid for in aanordance with
Ilhh laws of this State and the by-laws of
this tassociation. .Minors and marriecd wo
itmen ay hold shares in their own right."
"ARTIClE.F V--The corporate powers of
said as ciatioin sliall be exercised by a
hiard lof directors to consist of twenty
12h) live, sharihohle.rs, each of them own
i at least at ten (10)ll shares In his or her
own nane, who shall be elected by the
sharehohlers annually on the second
Thursday oif April of each year. after due
notlhe as provided for in the by-laws. Any
director ceising to own ten (10) shares
shall ilps faileto vacate his or her sent.
Sahl electlon shall be by ballot and shall
he held at the donilelle of this corporation
undiler the supelrvision of three (3) share
holders appointe'd by the board of diree
tors at its last preceding regular meeting,
who are not eandidates for election. The
shitarhlledrs re'eiving a majority of the
votes cast shall be declared ,le'ted.
The failure to hold an election on the
day speifitced shall not dissolve the cor
poratiun. blrt the directors in offihe shall
hold office until an election be held after
ten (10) days' notice of the time and place
thereof and the new directors are installed.
The directors shall elect from their num-
her a president, a first vice-president. a
second vice-ipresident, a secretary and
treasurer, as also an attorney and a no
tary public. 'They may consolidate the
office of secretary and treasurer into one
office, to be called the secretary-treasurer.
The directors may elect an assistant sc
tary who need not be a director.
The board shall also have such further
powers as may be set forth in the by-laws,
or which may be necessary to carry out
the objects and purposes of this associa
tion; but they shall not have the power
to purchase real estate, except for cash,
or to contract any indebtedness without
the affirmative vote of at least seven (7)
directors, and then only in furtherance of
the usual and proper business of the as
so'elation. Seven (7) directors shall con
stitute a quorum at all meetings of the
board."
Said appearers further declare that they
do hereby authorize and requree that the
said amendments be duly incorporated
into notarial form and be recorded and
published according to law, to the end that
the sarne may be operative and binding
on all persons whomsoever, from the date
of their adoption by the stockholders.
Thus done and passed in my notarial
office, in the City of New Orleans, on the
day and date first above written, In the
presence of Messrs. George Montgomery
and M. Simpson. competent witnesses, who
hereunto subscribe their names with said
appearers and me, notary, after reading
the whole.
Witnesses: Geo. Montgomery, M. Simp
son.
(ORIGINAL SIGNED):
FW.W. Gras. Wan. A. GIllaspie, Amella
Eichhorn, William J. Sonnemann.
The foregoinlog act was this day recorded
in the Mortgage Office for the Parlsh of
Orleans, in Book 1263. folio -.
A. O. WILLIAMS,
Recorder of Mortgages.
I hereby certify the above and forego
ing to be a true and correct copy of an
Act of Amendment of the Charter of Dixie
Homestead Association, on file in my no
tarial archives.
New Orleans, September 27. 1921.
ALLAN R. BEARY,
Sep~t. ov 4. Notary Public.
Sept. 29--Nov. 4.
AMiNDMENT 1'0 CHAR TEE OF DgREYT
F"14 INCOIPORATED.
United States of America. State of Lou
isiasa. Parish of Orleans, City of New Or
leans, ie it known, that on this 15th day
of October in the year of naineteen bhundred
and twenty-one, before me, Edward 8.
Spiro. a notary public duly commlssioned
and qualified, personally came and ap
pearse. E. J. Dreyfus president, and H.
C. Dreyfus, seeretary and treasurer, of the
Dreyfuras, incorporated, a corporation or
granized by Act before '. Ellis Ott. a no
tary public, in and for the Parsiah of
Washington, State of Louisiana, on the
14th day of September. 1900. and recorded
in the Mortgage Book for the Parish of
Washington, Book No. 7, Folih. pages 1,
2 and 3, on September 15. 1900, and that
said appearers declare that at a special
meetling of the stockholders of Dreyfus
Incorporated, held on the 14th of October.
1921, at which all of the stockholders of
the said corporation were present or rep
resented by written proxy., a certified copy
of the minutes of the said meeting being
hereto annexed, the following articles of
sald original charter were amended as
hereinafter set forth.
ARTICLE 1-The name and title of this
corporation shall be "Dreyfus Company,
Inaorporated" and its domicile is hereby
estabitshed in New Orleans. Louisiana.
land under said name and title .it shall
hare all the powers conferred upon cor
porations.
This corporation, unless sooner dissolved
in accordance with the law. shall exist and
continue for a period of ninety-nine years
from and after the late hereof.
.The President. or in his absence, the
Vice-President. and in the absence of both,
the Secretary-Treasurer, shall be the prop
er serson upon whom citation or other
legal proces shall be served.
ARTICLE 111-The capital stock of mid
corporation shall be twenty thousand dol
harm ($20,000.00) sad the capital stock may
be increased to one hundred thousand dot
lars ($100,000.00) divided lnto and repro.
sentej by two hundred (200) shares of the
par value of one hundred dolars (5100)
per share, and aid stock dhall be paid
for in cash at the time of the subserip
tion, o- the saNme may be issued, at not
less than par in payment or exchange for
property or rights actually received as
purchased by said corporation, or the
CILA.RTER.
hil* 11llily hl i uedl full palidi for mlon.
: d .i ' .nt 3 . 'd , *'t l .l tiel r ai 4l)ll ot i 4,.'r ' '' ,'l 4 t h. .'
i : fl rd i f I4ir.tto r, of flht st it l , ftrpl t r
t i ,,n In y d e te r mf in ,+, p r o v itled , t h a t n ,
-l.,i k n1h4ill I.,, i-aiiu.d u ti l h. . ,lhiu.. idcr.
lionll th r r IIIh a . hb ec Qn r , ,' . i. ,,d h y th ,
-it t orl.,,rationl.
\ sto- 'khu, hlr ff1 ty -. !I itrl. - fti r f r :t
.! 1i hl ls t,,t 'k t. thi i - "*' rl o r4 ' Iti ol . 4 l.'. -
1i,, 1d thirty day - i'.i prior lnoti ,
" t -I I l ,n t lt o ln it , I t r . l- lt- . r . . lr : t .
t-i . in t hl u, h r l lll I . 1x f . ll hi. ',, ll litn . tl l u t
(I i , , t t h , -r . t o , k i . " l urr. : h ." r , . t - I t : il l h a l ,'
fit.' fir-t pl rivihl."e f 1 pIllr'hlas1fig .lllne, atIf' -
h ,r u i l lh th tilrly s1 a s. Ii, .1 :tit -t, ,' k nilty
I.. ,141 I in o ,'n l'~' 11: rk, 't,
'lth.' .t .'o k ,tf .a i o, r ,po, ra ioll. n o l yh t i t,
I tri'i,f rr '1 unl .r th1 l ' bI, fll' , c n I iti -' .
!,ltiu . . -lu ll r:htr;i.f.'r th.i'-r -.f I.. hull .'i t on
t h . l; r l , ,f hl l ' ' ,o r p4 , ,r1 t i , a11 1 t i t . 1 f i c ..
iin N . ,,- r11 4:f1 4-. I.olu i-i:mI l:l. a . . n sl l r
rinl.. l r of lth. .' .rfili f. 1i . ther.rl'f r 1th ' frrI -
1.r ti ;u %y la ii ll lnt i p . ir o if I sita r ll in n
lit.- ntatlll l .
' fhi - i, r ,,r· ati tl shaI ll i' t t nr , ,r , i, ' n
l, ll-t ,"n :In ti -h ll i 1,. ai . lhl ,.- e..'lrtl :t.
-olo :a" I tir ,r"l thu 'tlonnd .ollair- .$ II,. li
fi th,. , :a pital .stl . k. .hall hatfi. h .i . ui h
ril. l fo'.r I 1T h ,. l,.:irl 441 fi r,..ftl ori .i iTi1ll
I ,.i44 4li, ' h , l l,414.1444llll". ff4 f14'4 i'i4+ h1. '+h
l..ii it.' th pua er it d."ter i tut " rman tl tt -h-iti
. -n e k . h a l l 1 ,." II tI, I
iidl lpllar l'- lrt h. lh.r l -l ar.' tha:it il v
l41. I4 1i. :,li ht4 4.ll v '1 . i1t I 4.4 -t, ,, l . h ,,l. 'r,
.' l ,'r tif ,f re-tfl ij,'fI h .1 r 'tfo ti ,lfi.,' eot
i, r . lrtify I. - .I. l,r, ti. 4nl 14 ' ,,rf.
l4 h ,i n t . ' N ,,t :a r i. i .\ , t t44 h . :i ,, 1 n l,Ir ,.41 : t ,. r
I lt,. , H'it in il .h trt r of th e.% l" -. In U-l. l-.r
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i 44 44 i ll, :,r . l, 4 , .,. irt t.'. :n .r ii. : i ll
infly '44ar 44r 4 tr.tr and 'iii 4 4 fldu'
iher. lt u ehar, tlht .nid ,'h:tr ,r h .i lu, n
' Ini h 4 erf b.h s ta k e t iii i : tit lth"l4lf o4 r jtti r i:a l ,
l t -t : ;l - illu lun el rt n lt'llt to th . r ,rit i al
Shiirtir. ;tutu o i.1.. h,4 rij"' -ll lt i ln 1t11
thi !,ri, hle t.. reo',r'd .an lit4 l -h .unit
' rlfrdil. ft liaw.
1Thu. dlu.' an. pt .s:.-.l iin ni' oflt'. its
Ill. .i. f \i, n thelO-rt O t 4i, 4 l t ny . itIIll
tunt '.:ar th.r.einll ' firnit a  ' 0 rit*.t , in
thi' ý,r,.-. II+.. '1r Ni.tlh: II 4,,il.4 l and
L . ,.i 11 NI S ; ani' , , m l,,t . t n it it,, s.-.s
tuht,, h,.r.",,. ii thi'r 4l.4 i,4 s 1lh t h, f .
-.i'i pll4u ' ,'r- .r t4l tll,. fo4tarr . fit'.lr r,'iu.-!
use tit the o hul .
l41Hil l;IN.\1 . 5I;:1 ; : ",
Ei . J. I1 r, n. 1 1'.. 3 4'. r, iifui.. Nathan
If. + I',. ,t1 louis ii Sp ,,erl!i .
IE;I1\.tIlthI S. SlI'llt l
Not, ry l'uh li'.
1. t4h1 ' in dle.r i ll,-i. 1 ,',,rdt'r of \lurt
in,; .h4. ill n1i4 fir tii,.- i'trislh of 4l r.ans: .
Sltlo. .,f Lotiil:ia.i do h.llr by o.ritit that
the aile. ln1 In lfw1', inf l ne nn, i.t4 44 l lof
flf' I. yfr. fu. I0.. In .. w4a . this dlay re
, :rthd nI 3 4. 1 ,fli 4in i" o,, k I2,.I:. 1': , lio
(Sign;. LedO) O''. sIt "TT.
.\ TtI I t: ('4 P ':
Not. try Pub'n li,'t.
4 14ttlher 27 I O c..n', l er 1
.lENDII)Mf:NT TI) 1c11 %KTI'eK III' T :fl
FIl ,i,,s Mt e.i.d c." r l\ ri.ton St.te. of l ,u
t-uit.in . 'ari-.-h of uIrl.c.,ni , 4'it. ft N,,,.
rh'a i -. I' it kinow n. tl.at nul thi. day.
:.rd ali. ,of the Iuth if .ugi .t iI the4
iear o o r l.trd onl.' th.,us:n ild ni' hle
.rdl In4t43ll-.o e. tan d of the. lndepe. -
lt.'4,"e ,f f4the nlt'.i d . 't t,.s of .\4leri-ni .
the' 4i4. hundred :4id uart -lifth. iO'fore
ii,', 1i . 3T1or4an r t4 rt 1. a iot:ry 44pulli4c,
du'y ,mr is-tuned 4au4 'rn.l4 in iand fior
hni- ity , nt4 d the l'artIl of 4i frle s.i therein
r,.4 ililngl . 4 l443 i n ith,. prtr,''4 e ti the w it4 -
l . e.. hereiniift,.r litll,.ti and uudersign.,d
lpe-r ll '144on all .lle , :ln l,-.ar.dl. \ i'llfihn
P'faff. IEs' 1.. a4 r.'-'ei, t of this .ity. of fa4ll
att" of litajorlft'. :iltu pr."-id.4ut 4f thef
I it lloni tet.:id .\n-,,. iati,4. lt duly"' i -
'ofrrlorat, ins ftituti n, don ,i.iilite.d in this
'it4 . f'r,.te d 4h 4 .' t t f int 'rpJ r:ltion I,t.a S
bf.lre J. \ It'hrpantii.r late a nftary of
thi-s .it'. o0 the1. Ith of J.une. 1%il.
t44I re.moried in the ortlgage offl'e of
thisl puri-hb i. , Iook NXt. 27U'. Folio
No.. :º.1. et se 4 . nd sitne.' ,wmendled:
:llon Emile I.. IlI.lert. Es.,q.. also a
rreident ,f this 'eity of full age of ma
Jor4ty. and secretary of the 4 aid 4 n ionu
lont.'s.ied A.lssoim'tif,. alove des'rited ;
both ..f .aid applearers de3lare4d that th.'y'
appeared herein, in their respe'tire 'a
p44i4ies for said A.\0o,'lation. and also act
tlug under and 3by virtle i of a restolution
of the, stockholders of the li4ld Union
Homestead Assoelation. iheld in con
formity with loaw and under the condi
ti.ns of the charter. 4,.' the fifficers of
said as4 .'iation on .April 1. 11i4.
That there was pireselt and votinig at
-aid me44ting scixteen hundred and eleven
shares; (1611) of the c'ai.tal stack of said
.\-stcation. That at said mlenuting cer
ti4in aondments to4, the charter of 4tie .. a
.s '4ittio f were offered and voted upon
and ntrried in the manner following, to
wit:
I4ffi'e of the Union 11tIIeteand A.4so.latiol
351 4'aronid.let S4tree-t
New 4 irlefans. l.a., AIpril 14. 1121.
Pursuant to notice, of which copy is
pasuted in the margin hereof. published
da1ly in the States.. flrst insertlon In4ilng
le.nu on .13ir.h 27. 191,. and the last on
Ap.ril o5. 111., a genleral Imeeting of lb.'h
stoc'khlldere of the Union Homnieatead Ast
so'lation was held this date. at half past
seven o'e.wk, p. In.. at the offI'e of the
AssotiN'tion.
The meeting wa4s 'iled to order by Mr.
Willuim 1'faff. Ifre4-ldent of the Asso.la
t44n, and on mot4 n of Mr. I. P. Sullivan.
et'onded by Mr. F. 4'. Marx. Mr. Pfaft
wa4 nominhated itl 444t as 4'hairninn of the
mIntlhg, there being 1o other noninations;
.Mr. WIlllhni lPfaff wa4 elected liy ac..la
niation.
(in nmotion duly l4e4o-dd.d, Mr. E. IL.
lIe.nrt wa4 noninated to a4ctl 4 aecretarg
of the nmeeting. there being no other non
4i4t4 ons. Mr. Hebert was elected by ac
T"hI, ,'h4iir 4l144,,d thfit 4he objef.t of the
mUltinf Wil4 to 'on.ider the lilnendment
I4rolpo(ed to bie nmade to Artille Ill.. so
A rlh'l I. J  Se.tion 4. of the L'h4rter, as
Artile 111. ObJects. The object and
purposes of said corporation are declared
to Ife: To provide means for the regular,
•afe and profitable investment to the say
Ingi of its memberf, represented by the
monthly Installments on arcount of its
capital stock, and to loan the funds ac
eumulated from such savings. for bonuses
and interest upon loans, from rentals and
other sources, to those members who may
desire to borrow portiofns of same, upon
mortgage security in the Parishes of Or
leans. Jefferson and St. Bernard, or on the
shares of the Assoclation, etc.
The amendment beIng. the elimination
of the words "fity of New." and adding
"Parishes of Orleans. Jefferson and St.
Article 4. SectIon 4.-The proposud
amendment to this article and section to
eliminate the words "if twelve monthly
installments have bee. paid upon the
It was moved by Mr. Charles Carroll,
seconded by Mr. Louls Hnfft. and unani
mously carried that the amendment be
presented, there being no objection, motion
was ordered for a roll call and the tol
lowing members voted the respective
shares opposite their names:
Charles Carroll, 25. yg: J. W. Cousins,
40. yes; W. Morgan Gurl-y, 112, yes; Louis
Hufft 25. yes: Fred. C. Marx, 38, yes;
William Pfaff. 180. yes; William St. John.
2. yes; Albert I.. Sonle. 33, yes: O, W.
Chamberline, 45, yes; John 1. Elizardl.
0. yes; H. L. Hebert. 94. yes; Archibal4
A. Marx. 47, yes; Charles R. Mayer, 70.
yea; Louis E. Rabonin. 170, yes; B. P.
Sullivan, 432. yes; Wilson Williams, 25.
yes; total of 1611 sharee voted.
The chair announced that 1611 votee
having been cast in favor of the proposed
amendmeat to Article III, and Article IV,
Seetion 4, that the said ameadmeote be
declared carried and that the charter be
altered and amended as propoeed.
The chair then asked whether any stock
holder present deei ! to offer aay other
proposed amendment to the charter,--there
being none, he, then suggested that a
motion would be in order to have the
proper officers of the Association pre
pare Notarial Act of the amendment
On motion of Mr. Charles Camrll. ae.
eaded by Mr. Louls Heft. It was resolved:
Tat the Pre.sidedt or vice-president, and
is asthoised to sign a Notarial Act of thg
amendment passed. Carried.
CHARTER.
E - I . I I ' * 'I
S, 'i'ttl'l% I.ICl.I': '111 :
I it I * ' , ' I r
l,.l 1 , .[ £ I1,,. , . , ii: '
, ll i i l lt 'i t i I ' I,
7 '1 ."I i a ., ! rI Ii ' ." I . . ,
I i t Ir. I I' T ,I .
l .' I . I - Ii t .' -t I .
illu
Sii i.'I , l' i I ' I . . i
I" \Ir. I" I. .
11. 1 ', t . I .- .I.1 1 t. t. .
ill . ll. I, I 1 , . n
hII,.hrI t . - I, t'.. i'. .t t
,t| Il h. .l ,
I ii .lr..111 1 . 'I :1 - I
'C 1,'I I t\. I
, ,f . r th , , , . , . . t. , -, '.,i I ." . ' ;
,.11, 11. 1 II , tlit I'. ,
i \ 't r 1 111.1
i, l l rI rt t l r, } , ll h
" , I ' ' 1 1 11 li111:
tlt . 11 t i r . III,. It. ,I i I i "'ltllmjt'
:iliiltliil r 1 it I tll .\ l , i, I. ' t .' i .lt .I
thi' 'll :t, i, 't o ie r i.r ,i, t I, t, ti. ll-. as
Thii ;1 ti,? Irt'Il IliintI i : illt ion . i IonId be
lii iinilet to bliv tue lirotier otff*er* of the
1TI* LE 1 T. .no mb"r- l.h 1 ..
.\c0'i ItiIl/ll thall t - rit .ll ap e r before a
I,,,'a J . ,itnur t1 : ~ 1.. , "In I, f r.r nh
trllti r '. ant i itheir:tr ntrl Arr t , r the
a itll, t th , lliinetr if i ', ipas.e .', t ,
ofr. I. rus Huftrt. that ,the I idnt or
Atocition ,ie and h e i hIereb a lut or-i
ized to sinn a ittarial r t i- f the amernd- of
t,i ,ent :ICei of arj, r. . 1,, ted.t
There i eini tlo fi--rth1 bhuin ' e. and
'aio l I f. r uI'  .ri h, .ll .tn.. . ij " tl.
to Ii,.- u;".ro -al of thI' lio rd . t " lirr tort.
Thur donI andr I, ' red. T n ,my oi.'ne. at
the lty of ew I rlent th . I 1ouiiana.nu en the
dy . monthr and year herein firs, abotion
f';is h .+" r rt fur .l roll gall, and the f, ,l
written. in the prescrste of Ros Ei . Brea
psr, wit herento sign thei r Iame ith
I nion Iloniest. .. A hesn..th oh
man, _.l i. PfaLu,. Pei dent. , , ,".: .
tlthn i. %atl r.: 1J. ', E . r l and -Theo-in
dore Itoehl.
.1. . ts: 1: o t u rlliley. \ o tary. P lli,.l
i. N.the uldi i e .t Recorder of ort
State of 1 ana. do hereby K ertify that4. s;
1oi: ot0 1119 .hare,.
thie alO and f reo in f Atr of thIn ror.l
:lon m of the n tion lome." that tAoi saidtl
a thi dy dely red ricorded In my othatce
in ropos. 12. Folio 7 Nelr Orleans. Au
I the chaiunder skined wothr any rtok that
correct copy of the n l further amendmen
to the At of Inchaorpor there ing none. he
hom uest ted to l a motionether wouldth the
itn orde rto haf the rorder officers ofrt the
for and prepare Notarial o e t of the ap
Motion by Mr F. t'. Marx. a-ronded byh
Mrtdinu. L ad un thate in the Prerdent ormy
'Ice President and the secretary of the
%ssoi'.aton b\ and he is hereby author-h t
lized to sign a Notaroi al ..t of the amend
bent passed. Carried.
motion' duly s..onded, th.' meeting ad
jor UORnAnd. RLEYl
. I. HEERT. otary Pbletary.
CRtELE ENTERPRIS.. l , INiC.
Thusdone of America, St myte off Lo at
the city of Newof Orleans, Cityana. of Ne
ritten, in the presence that on this Brea
zeal.'. Theodore Ro-hihl competent witnes- r
seda of Otobereu n the yeair names withthoand
nine hnndred and twnrty-oe,. before me,
heor the said appearer leand me. Notaryte of Loter
isiana, duly commissioned and qualiid
theadin r and of the enwhole. ef
the ltnesion hereinaflter named and n
derVgne d; peronss . cameale and Thppeor
ed the persons hereinafter subscribed,
ll oMorgf the ae of mrley, Notary Public.clr
I.ed that undeirigned Recorder of Me or
the ls. In and for the n arish fcarle made
ande proided. theya do hereby contitute
them e, theb ir aociates and succrsr
ore, a corporation nder the articets ad
atpulatl dona dollo n; hich then my offhereby
adopt ah their charternd , to-weit:r th
Aithe aCLE a .-orThe name and titlre of
theai corporation hall be Creole Entr
primesa, Incorporatoed, and by ita orpr
ate namel the aid corpeoration hall hare
and enjoy all rights. powerst and priv
ileg ral1.nted by law to corporations, in-,
eluding the powder so haRe and enjoy soc
cesion for the plh term and pterniod of
ninety-ninoe yan from the date hereof to
contract, to sue and be ased; to make and
oe a orporafte sei the same to breal or
lease sl and conRey, as nell as mort
Iag hypothecate d And per g te ofnder ia
orporlnt e name, any property, real, per
oal, or minerid; to narme and appoint
ch mre aosn. of ticer, gents and em-d
ployss as the inteorest nd convenience of
said corporation may require; to make
andor the Parish hof Orleans. tre for thea
menadgnent and neglatin oheof thr e af
fairs oif id eorponation a may be dOrm
ed nesarl or proper, and the sme to
sites or change at pleasore; and gencr
ally to d eo al thn that may be nc
anry r dpprpriate to thereb ondnt of itu
State of LoisIana, Parish of Orleans, and
ail citooation rnd otn leyal proe arts andll
he s red'o Its predaet and ien cae
o his bePai or disalbiitye. on the Seuc
rentary. rae srin c, o proce ss may ale
; be
t' :ti. 4a ' tl. be
", , t ,r to e as
! . 1. rj e
'lt lulihd b,
Iius and
1 r I , ge ai dotlo ,
Sil"li ,, to 7
ul h r IJto
- nd iraid
' : l ,,j i a r athi t '
T r lhc
Ir .,- ul, te td
h , , r e,i te a
e. t iu.at
.,"1 h ort. , t r
" n,.; 'a , o fh
' Ul I ,1I, ~ ¢ I
U.fr ltlent l by VIce -
thl. corfor rtlo l
S I, ., of lbt ar ag
'. t hree ae
~, Jtt eird
u lil ed ti
l,, i redtor
10t Thlan ntlr
r i,, cot o r
. thI th:r.. e h
than fire, lte
'lr, tlP to that
n I\." htoa of
n diretor, 1 ag
''. land act ths
of t h.Roard it s
1ilh. oytirera at tbe
'rsid until thair
Thi fola wiag a i -
t1 avrena. J r.. 401
Prident. W. H. l
ilutire to ir
i-hallt not iavllis
impair the aise ti
dir,,tirs shall Chmp
until their sseraga
The Board .f ib ..
Ilter, amend. or
mine. not iaceeabij
this Charter. R -e
may at san tshe
,fficerle. egmlea
Board may less
acribe the detiss
their 1co 401 Ts
.ARTICLn VI
aton may hbe
ed, or said
with the comas
ing two-thirds at
corprratin, at £
stockholders e I
fifteen dsir eeebm
iog shall eif w
holders at their
dress, which
ARTIChLlee.
this Chartetr, ,
be held Sile is .
contractsor
the unpaidj
stock owle h
ARTICLi
is dlueolved, d e l
be Ulqeldated hg
who shall hei
stockhlders at as
stockholers
aild liLUeat e .E
main ia e. ur i
poratios ael
pensatli. sal
ties as the
case of the
bility ato at,
tors, the
caneles.
ARTICL'
addr esse td
me lt of the
E. W.
La., 2 shaUre;
A-vese, New 1
aocte e J. t
the eCity k
the day eae
Itheprsse d
naid d t ls
after d he
A, the
cat ge, i eel
Ocoer, . f
Sate a l*
We MCled