The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-07
UNITED LAUNDRY CO.. INC.

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 hereurto
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
Thousand Dollars ($20.O00.0o) divided into
a. 1850 shares Of the par value of Ten
Dollars $4,000 each. shall be known and
designated as Preferred Profit Sharing
stock, which shares shall be preferred
both I'm dividend and principal, to the
stock known as Common Stock.
CD 25Oo shares of the par value Of One
Dollar ($1.O0) 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
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.
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
Common Stock. The balance of the earn
ings, IL any, shall be distributed annually
so per cent to the holders OF Preferred
Stock and 30 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 a two-third vote, to the sum OF
not more than 500, 500 90. the proceeds OF
which shall be used exclusively for the
putting In of additional laundries and dry
cleaning establishments. The Common
Stock Is not subject to increase, except
by unanimous vote Of Its holders.
ARTICLE IV-The domicile Of the cor
poration shall be In the City Of New Or
leans. and the corporation shall exist for
a period Of ninety-nine years from date
hereof.
ARTICLE v-The powers Of this corpora.
Board q Directors of not les than tire.