The herald., 1921-06-02

United States Of America. State Of Louis
lana, Parish of Orleans. City of New Or
leans. Be it known, that on this 9th day
Of the month of May in the year of our
Lord. one thousand, nine hundred twenty
one, Before me, Charles Schneidau, a no.
tary public, duly commissioned and quail
fed in and for the Parish of Orleans, State
of Louisiana, therein residing, and in the
presence of the witnesses hereinafter
named and undersigned:
Personally came and appeared the sew
eral persons whose names are hereunto
subscribed who declared that, availing
themselves Of the laws of this State, rela-
tive to the organization of corporations,
they have covenanted and agreed, and do,
by these presents. covenant, agree, bind,
form and constitute themselves as well as
such persons as may hereafter Join or be-
come associated with them, into a corpora
ton and body polite in law, for the OBJ
Jects and purposes and under the agree
ments and stipulations following, to-wit /:
ARTICLE 1.-The name of this corpora
ton shall be United Laundry, Inc"
ARTICLE 1.-THE objects and purposes
for which this corporation is organized is
to carry on, in the City of New Orleans
and elsewhere, the business Of laundries
and dry cleaning establishments, to buy,
sell and deal is all kinds of supplies and
equipment used in the laundry and dry
cleaning business, and, to that end, shall
have the powers necessary TO carry out
the objects thereof, and shall have the
right, in connection with said business,
and in furtherance thereof, to purchase,
own, lease, mortgage, and ALLEVIATE real
estate and movable property; to borrow
money and to issue promissory notes,
bonds or other evidences of Indebtedness !;
to appoint and employ such agents and
employees as may be necessary.
ARTICLE III-The capital stock of this
corporation is hereby fixed at Twenty
knn ar.A n1II
two classes:
~ 1850 shares of the par value of Ten
Dollars $1,000 each, shall be known and
designated as Preferred Profit Sharing
stock, which shares shall be preferred,
both in dividend and principal, to the
stock known as Common Stock.
(2) $500 shares Of the par value of One
Dollar ($1.00) each, shall be known and
designated as Common Stock.
The capital stock Of this corporation
shall be paid for in cash or 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.
ton, there shall first be declared the an
nual dividend of 10 per cent, payable to
the holders Of Preferred Stock before hold
ers Of Common Stock shall receive any
thing. This dividend shall be cumula-
tive. Thereafter, like dividend Of 10 per
cent shall be paid to the holder Of the
Common Stock. The balance of the earn
ings, IL any, shall be distributed annually
so per cent to the holders Of Preferred
Stock and 80 per cent to the holders OF
Common Stock. The Preferred Stock shall
have no voting power. The Preferred
Stock may be increased, according to law,
by resolution of the Board Of Directors,
adopted by two-third vote. to the sum Of
not more than $297 ,500.00 the proceeds Of
which shall be used exclusively for the
purchase of supplies, equipment and the
putting In Of additional laundries and dry
cleaning establishments. The Common
by unanimous vote Of its holders.
ARTICLE Iv-The domieile of the cor
poration shall be in the City Of New Or
leans, and the corporation shall exist for