The herald. [volume] (New Orleans, La.) 1905-1953, 1922-11-23
CHARTER
CHARTER OF SUPERIOR LAuNpRY,
INC.

CHARTER OF SUPERIOR LAuNDR,
INC.
United States of America, State
Louisiana, Parish of Orleans. City {
New Orleans. Be it known. That o
TENDER. in the year of our Lord or
thousand nine hundred and TWENTY-FIVE,
before me. Charles Schneidau a notar
public. duly commissioned and quail
fled. in and for the Parish of Orleans
State of Louisiana, therein residin,
and in the presence of the witnesse
hereinafter named and undersigned
personally came and appeared the sew
eral persons whose names are here
unto subscribed. who declared thai
awaiting themselves of the laws of thi
state relative to t1e organization o
corporations. they have covenante
ana agreed, and do. by these present
covenant agree, bind, form and con
stitute themselves, as well as such per
sons as may hereafter Join or becom,
associated with them, into a 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
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 to
carry out the objects thereof, and shall
have the rights in the connection with
the said business, and in furtherance
thereof, to purchase. own, lease mort
gage and ALLEVIATE real estate and NOV
able 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 II-The capltaI STOCK or
this corporation Is hereby fixed at forty
thousand dollars ($40.000.00) divided
into two classes:
"a $500 shares of the par value
OF ten dollars $4,000 each. shall be
Profit-Sharing Stock. which shares
shall be preferred both in principal
and dividend to the stock known as
Common Stock, or any other issue of
s'oSh' eo ann sh notes or m, mrortgages;
one dollar ($1.0o) each, shall be known
and designated as Common Stock
The capital stock of this corporation
shall be paid for in cash or it's equiv
alent before issued. and no stakeholder
shall ever be held liable for more than
the unpaid balance of his subscription
All stock when issued shall be fully
paid, worcestershire.
poration there shall be first declared
the annual dividend Of 10%, payable
TO the holders OF the Preferred Stock
before the holders of the Common
dividend shall be cumulative. There
after like dividend of 10% shall be
paid to the holders of the Common
Stock: The balance Of the earnings. If
to the holders Of the Preferred Stocks
ana 50% to the holders of the Common
Stock. The Preferred Stock shall have
no voting power: The Preferred Stock
by resolution of the Board of Directors
adopted by a 2/3 vote, to the sum Of |
not more than ninety-five thousand |
dollars Nss.oo0.ool. the proceeds Of
wmlch snail be used exclusively for the
putting In Of additional laundry and
ory-cieaning plants. The Common Stock
Is not subject to increase except by
unanimous vote Of its holders.
In event Of dissolution and division
o. assets the Preferred Stockholders
snail ne paid off dollar for dollar he
Loie the Common Stockholders shall re-
r , snytning; and thereafter the Com
All surplus OF the entire assets re.
ARTICLE Iv.-rhe dom,c,,e o, nj.
n,p shall be the City Of New
LIST for period Of ninety-nine wears
from date hereof. |
ARTICLE V.-The powers of tb,s 1
corporation shall be vested in and ex.
1 s ny Board Of Directors of not I
ess tnan three nor more than seven. {
majority OF whom shall CONSTITUTES a /,
!uorum Tor the transaction of business.
rne directors shall be elected by the ,
rommon Stockholders on the first
SAw<A 4
'egfnning the first Tuesday of Septem, ,
'er, 1928. and shall serve until their {
uccessors shall have been elected and I
uanfied, and elect from their number
8 tneir lirst meeting President, a '
rer. whose powers and duties shall be I
ef1ned by said board The offices Of | n
resident and Treasurer may be held by q
, ,e e, ana the same person. and the offices I
"a x'cSS &C. and Secretary may be :
e offices Of Secretary and Treasurer c
~ De heid BY one and the same per- r
N. II desired.
The following persons shall compose 4
'ar: Louis J. Bernard, Pres. 1904 81 4
upre street, 500 shares Preferred, TOO :,
ares common: q. Bernard. V.-Pres ~
Camp street zoo shares Preferred, III
9 shares common; H. w. Baird. Sec
80. 1913 Prytania street. 700 shares Of
!ttheus. Direc, 1T Baronne street =.
shares Preferred. 400 shares Com IN
m; Charles Wainwright, Direc. S2s ~
Charles. 500 shares Preferred. 400
ARTICLE VINO compensation shall s w
paid to any officers or directors ex- -
{ the Secretary and Treasurer in ~
fiscal yeaf until the stockholders ~
2 received dividends amounting to ~
east aftsen per cent (1g%). ia
cers and directors Of this corpora !