The herald. [volume] (New Orleans, La.) 1905-1953, 1921-09-29
CHARTER.

and for the Parish of Orleans, state OF
Louisiana and in the presence OF the VIII
I neSsps hereinafter named ana unueI sisnc
! personally came and appeared, IL. ". paI
| ker the president, l.. +. summers: the
| secretary and treasurer of the UhiteG
| Laundry, a corporation duly organized
under the laws of this State by act Dslors
| Charles Schneidau, notary puonnG, ta.e go
| Nav 27th. 1921 recorded in the Mortgage
| Office of this Parish in Book lbs I0llo
| $50 NAV 2Sth, 1921. Who declared: Inat
| acting by virtue and in pursuance OF
| resolution of the stockholders OF salu W
| Doration adopted at a meeting OF the saiu
| Stockholders held on the hrst DAY OF the
| month of September, 1921. called for the
purpose of proposing amendment 10 nv
| charter of said corporation, all or the
! said stockholders being present and repre-
! sented all notices of every Rlnd Delhs
waived they do by these presents IN orueI
| TO carry into effect the said resolutions, u
| certified CODY of which is annexed in the
! margin of this act for reference, declare
| that the charter of the said United Laun-
dry has been amended ana altered SO as u
have Article III read as follows;
"ARTICLE UI-The capital stock OF
this corporation is hereby fixed at one
hundred thousand (s1o0,OOOOO) divided In
to two classes:
% 5000 shares of the par value OF ten
dollars $4,000 each. shall be known as
preferred profit sharing stock, whlch
shares shall be preferred, both in dlvl-
dend and principal, TO the stock known as
common stock, or bOhdS- HoteS' Ilol tS"S'''
other class of obligation of this corpora
ton.
C2) 10000 shares of the par value of
one dollar (SlOO) each, shall be known
and designated as common stock:
The capital stock of this corporation
shall be paid for in cash of its equivalent:
before issued and no stakeholder shall
ever be held liable for more than the un-
paid balance of his subscription. All stock
when issued shall be fully paid, nOn-as-
SeSsable
out of the net earnings of the corpora
ton. there shall first be declared the an
nual dividend of 10 per cent. payable TO
the holder of preferred stock before holders
of common stock shall receive anything.
This dividend shall be cumulative. There
after, a like dividend Of 10 per cent shall
be paid to the holders of the common
machinery, Implements tools, cOnven-
30 per cent to the holders of common stock.
The preferred stock. shall have no voting
power. The preferred stock may ne IN.
creased, according to law, by resolution of
the board of directors, adopted by TWO
third vote, to the sum of not more than
S2g1,J00.OO the proceeds of which shall be
used exclusively for the purpose of sup
plies. equipment and the putting in of ad-
ditiOnal laundries and dry cleaning es-
tablisments. The common stock is not
subject to increase, except by unanimous
vote Of its holders.
And the said appearers further declared
that the said amendment was unanimously
adopted by all the stockholders of said
corporation, and that these presents are
for the purpose of giving authenticity to
the action of said stockholders, and 10
comply with the requirements of law.
Thus done and passed, at my office in
this city. in the day, month and year first
above written in the presence of ii. \.
Suttle and l.. J. Bernard, competent wit
nesses residing in this city, who have here
unto signed their names with appearers
and me, notary, after due reading of the
whole.
Witnesses: II. A. Suttle Louis J. Bern
ard.
III. o. BARKER, President,
l.. +. SUMMERS, Secy. Treas.
MICHEL PROVOSTY.
Notary Public.
\ true copy:
MICHEL PROVOSTY.
Notary Public. |
Sant S-Oct