The herald., 1922-03-30
CHARTER.

hereby fixed at S1O0,OOO.OO, divided into
one hundred shares of the sum of
81 100000 each, all of which said stock
is TO be paid for in cash or labor done
or property actually received. This cor
| poratiOn shall have the right TO COM
mence business when fifty per cent OF
/ its stock is subscribed, and the right is
reserved TO increase the amount Of its
| capital stock up to the sum of 500 600 90.
| All transfers Of stock shall be made on
/ the books of the company on the sur
render of the outstanding certificates
and pursuant TO such rules as the Board
/ of Directors may prescribe.
Any stakeholder may sell, assign or
| transfer his stock in this corporation.
| provided thirty days prior notice of
/ such intention to sell, assign or transfer
/ the same be given the company, and the
other stockholders thereof shall have the
I first privilege of purchasing same, at
! its book value, after which thirty days
notice, which must be in writing, the
I stock may be sold in the open market
ARTICLE V. The business of this
corporation shall be managed and all of
its corporate powers shall he vested i'll
a Board of four Directors. three of whom
shall constitute a quorum for the trans
action n business. They shall be elect
ed from among its stockholders at a
meeting called for that purpose. The
Board shall elect from it, number
President, a Vice-President. a Secretary
0 n
tors shall have full and absolute control
of the business and property of the cor
pOration. Any vacancy occurring on the
Board shall be filled by the remaining
members of the Board for the uneXpired
term.
ARTICLE VI. The first Board of
Directors Of this corporation is hereby
fixed at four in number and shall be
composed of Charles u. O'COnnor. Jacob
Loeb, Louis J. Nillars and Louis X.
MOustier. all of New Orleans, with the
following officers: Charles u. O'COnnor.
President: Jacob Loeb, Vice President
and Manager; Louis J. Villars, Secre-
tary: Louis r. Moustier. Treasurer
which said Board shall serve until the
first meeting Of the stockholders. or until
their successors are elected, which is to
be held on the second Monday in March.
1923, and annually thereafter. All cleo
tiOns shall be by ballot and each share
of stock shall be entitled to one vote.
whether cast in person or by proxy.
ARTICLE VII. This charter may be
changed. modified or amended, the cap
ital stock increased or decreased. or this
corporation may be dissolved, at a gen
eral meeting of its stockholders con
vened for the purpose in accordance with
the terms Of Act 267 of 1914.
ARTICLE VIII. No stakeholder shall
ever be held liable or responsible for
the contracts or faults of this corpOr-
paid balance due the corporation on the
shares owned by him. nor shall any
mere informalityl in organization have
the effect of rendering this charter null
or exposing any stakeholder to any liza
bility beyond the amount of his unpaid
stock
Thus done and passed in my office in
the City of New Orleans. State Of Louis
lana. in the presence of Joseph \. Casey
and Ben Hocke. competent witnesses, re
siding in this city. who hercuntO sign
their names with said appearers and me.
Notary, after n due reading Of the whole.
on the day, month and year first above
written.
Witnesses:
JOS. A. CASEY.
BEN HOCKE.
JNO. J. REILLEY.
Notary Public.
l. the undersigned Recorder of Mort
cages for the Parish of Orleans, State
of Louisiana. do hereby certify that
the above and foregoing charter of
the AMERICAN-CRESCEN LAUNDRY.
INC was this day duly recorded in
my office in book 1905 folio
ROBERT SCOTT, by. r.
A true copy.
JNO. J. REILLEY.
Notary Public.
Mar. 30-May