The herald., 1922-11-09
CHARTER
CHARTER OF SUPERIOR LAUNDRY
INC.

INC.
United States of America, State of
Louisiana, Parish of Orleans, city OF
New Orleans. BE il known, That on
this the fifth day of the month OF Sep
TENDER, in the year of our Lord one
thousand nine hundred and twenty-five,
before me. Charles Schneidau, notary
public, duly commissioned and quail
fled. 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 here
unto subscribed, who declared that
awaiting themselves of the laws of this
State relative to the organization OF
corporations, they have covenanted
and agreed, and do, py these presents
covenant. agree, bind, form and con-
stitute themselves, as well as such per-
sons as may hereafter join or become
associated with them, into corpora
ton and body polite in law for the
objects and purposes under the agree
ments and stipulations following, to-
wit:
ARTICLE 1.-The name of this cor
poration shall be SUPERIOR LAUN-
DRY, INC.
ARTICLE 1.-THE objects and pur-
poses for which this corporation is
organized is TO carry on in the City |
of New Orleans and elsewhere the /
business of laundry and dry cleaning
establishments. TO buy, sell ana ueal
in all kinds of supplies and equip
ment used in the laundry and dry
cleaning business, and to that end
shall have the powers necessary 10
carry out the objects thereof, and shail
have the rights in the connection WIN
the said business, and in turtherance
thereof, to purchase own, lease, mort
gage and ALLEVIATE real estate and NOV
able property; to borrow money ana 10
issue promissory notes, bonds, or other
evidences of Indebtedness; to appoint
and employ such agents and employees
as may be necessary.
ARTICLE III-The capIIai STOCK or
this corporation is hereby fixed at forty
thousand dollars (S4O,00O.OO) divided
into two classes:
Cd $500 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 in principal
and dividend TO the stock known as l
Common Stock, or any other issue or
stock. bonds, notes or mortgages. I
CD 5000 shares of the par value of
one dollar (s1.00) each, shall be known
and designated as Common Stock.
The capital stock of this corporation q
shall be paid for in cash or it's equiv
alent before issued. and no stockholder
shall ever be held liable for more than
the unpaid balance of his subscription | ,
All stock when issued shall be fully ,
paid, worcestershire. |,
Out of the net earnings of the cor
poration there shall be first declared
the annual dividend of 1919. payable {
to the holders of the Preferred Stock I
before the holders of the Common ,
dividend shall be cumulative. There
after a like dividend Of 1919 shall be /
paid to the holders of the Common ;
Stock The balance of the earnings, II
any shall be distributed annually. 500
to the holders of the Preferred Stocks
and 500 to the holders of the Common
Stock. The Preferred Stock shall have
no voting power. The Preferred Stock
may be increased, according to the law,
by resolution of the Board of Directors,
adopted by 2/3 vote, to the sum OF
not more than ninety-five thousand
which shall be used exclusively for the
purchase of supplies equipment and
putting in of additional laundry and
dry-cleaning plants The Common Stock ,
is not subject to increase except by
unanimous vote of its holders.
In event of dissolution and division
of assets the Preferred Stockholders ,
shall be paid off dollar for dollar be-
fore the Common Stockholders shall re-
ceive anything; and thereafter the COM I
mon Stockholders shall be entitled to !
all surplus of the entire assets re- 2
naming. )
ARTICLE Iv-The domicile of this :
corporation shall be the City of New
Orleans, and the corporation shall ex-
list for a period of ninety-nine years ,,
from date hereof.
ARTICLE v.-The powers of this a
corporation shall be vested in and ex-
ercised by a Board of Directors of not ,
less than three nor more than seven,
a majority of whom shall constitute
quorum for the transaction of business ;
The directors shall be elected by the !
Common Stockholders on the first |,
Tuesday of September of each year, :
beginning the first Tuesday of Septem- !
Der. 1923. and shall serve until their !;
successors shall have been elected and
qualified, and elect from their number =
at their first meeting President, !
Vice-President. a Secretary and a Treas /.
defined by said board. The offices of
President and Treasurer may be held by
one and the same person, and the offices T
of Vice-President and Secretary may be q
the offices of Secretary and Treasurer o
may be held by one and the same per- |
son, If desired.
The following persons shall compose
the Board of Directors for the first !
year: Louis J. Bernard. Pres. 1903 S. !
Dupre street, 500 shares Preferred, 700
shares common; G. Bernard. WIRES,
100 Camp street. 200 shares Preferred,
300 shares common; III. w. Baird, Sec s
Treas. 1919 Prytania street, 700 shares
Preferred. 1000 shares Common: Frank j
Matthews, Direc., III Baronne street,
SEQ shares Preferred, 400 shares Com |
mon; Charles Wainwright, Direc., 822
St. Charles, 800 shares Preferred. 400 ,
shares Common.
ARTICLE VINO compensation shall
be paid to any officers or directors ex-
cept the Secretary and Treasurer in
any fiscal year until the stockholders
have received dividends amounting to
at least fifteen per cent 15%).
The joint annual salaries of the
officers and directors of this corpora
ton. other than the Secretary and
Treasurer, shall at no time exceed fif-
teen per cent (15%) of the annual net
earnings of the company. II
The subscribers hereto have respec-
lively written opposite their names the
amount of stock subscribed by them to !
this corporation, so that this act of {
incorporation may also serve as the
original subscription list of this cor
poration, and they have stated their &
postoffice addresses so as to conform
with Act 267 of the General Assembly {
of the State of Louisiana of 1914.
This done and passed at my office.
in the City of New Orleans, Louisiana, {
on the day, month and year herein first J
above written. in the presence of c.
w. Pereira and w. M. Brand, the un- !
dersigned competent witnesses, who
hereunto sign their names with said v
appearers. and ME. notary, after due I
reading of the whole. In
Louis ]. Bernard 500 shares nra | $