The herald., 1921-09-22
CHARTER.

and for the Parish of Orleans state Oh
Louisiana, and in the presence OF tnt wa
nesses hereinafter named ana unueL siH neu'
personally came and appeared, ii. y. bar
Lar the president l.. Z. Summers. the
secretary and treasurer OF the OhiltI
Laundry, a corporation duly oSsa
under the laws of this State by act DtIors
Charles Schneidau, notary pubhc, aa.eu
MAY 9th. 1921 recorded in the Mortgage
Office of this Parish in Book LOB Io'lo
$50 May 2Sth, 1921. who declared.
acting by virtue and in pursuance Vi
resolution of the stockholders OF Sald cor
noration adopted at a meeting of the sald
stockholders held on the hrst gay OF me
month of September, l92l, called IoI th
purpose of proposing amendment 10 w
charter of said corporation, all OF the
said stockholders being present and repre-
sented all notices of every KIND Delhs
waived they do by these presents; IN oIuel
TO carry into effect the said resolutions
certified COPY 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 50 as u
have Article III read as follows:
ARTICLE III-The capital stock or
this corporation is hereby fixed at one
hundred thousand ($1O0O0OOO) divided IN
to two classes:
% 5000 shares of the par value OF ten
dollars $1,000 each. shall be known as
preferred profit sharing stock, whlch
shares shall be preferred, both in divi-
dend and principal to the stock known as
common stock, or bonds, notes mortgages
other class of obligation of this corpora
C2) 10000 shares of the par value of
one dollar (SIOO) 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
30 per cent to the holders of common stock.
The preferred stock shall have no voting
power. The preferred stock may be IN
creased, according to law, by resolution of
the board of directors, adopted by two
third vote, to the sum of not more than
10000 the proceeds of which shall be
used exclusively for the purpose of sup
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
and that these presents are
for the purpose of giving authenticity TO
the action of said stockholders, and to
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. A. |
Suttle and L. j. Bernard. competent wit |
nesses residing in this city, who have here |
unto signed their names with appearers I
and me, notary, after due reading of the |
whole.
Witnesses: II. A. Suite, Louis J. Bern
ard.
II. o. BARKER, President,
l.. f. SUMMERS, Secy Treas.
MICHEL PROVOSTY,
Notary Public.
true copy:
MICHEL PROvOSTY,
Notary Public.