The herald., 1922-11-16
CHARTER
CHARTER OF SUPERIOR LAuNDRY.
INC.

INC.
United States of America, State
Louisiana Parish of Orleans, City
New Orleans. Be il known That @
this the fifth day of the month of Sci
TENDER, in the year of our Lord OF
thousand nine hundred and TWENTY-FIVE
before me, Charles Schneidau, a notar
public duly commissioned and dual
lied. in and for the Parish of Orlean
State of Louisiana, therein residing
and in the presence of the witnesst
hereinafter named and undersigne
personally came and appeared the Sc,
eral persons whose names are her,
unto subscribed who declared tina
awaiting themselves of the laws of thi
state relative to the organization {
corporations, they have covenante
and agreed. and do, by these present
covenant, agree, bind. form and cor
stitute themselves, well as such pei
sons as may hereafter join or becom
associated with Them into a corpora
ton and body polite in law for tn
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
TO Duy, sell ana zeal
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 III-The capItaI STOCK or
this corporation is hereby fixed at forty
thousand dollars ($40,000.00) divided
into two classes:
% $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
Common Stock, or any other issue of
stock. bonds, notes or mortgages.
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
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.
IAN 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
before the holders of the Common
Stock shall receive anything. This
dividend shall be cumulative. There
after like dividend of 1919 shall be
paid to the holders of the Common
Stock. The balance of the earnings if
any, shall be distributed annually, 5O%
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 a 2/a vote. to the sum of :
dollars S95, 100000. the proceeds of
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 it's holders.
In event of dissolution and division e
OF assets the Preferred Stockholders a
shall be paid off dollar for dollar be-
fore the Common Stockholders shall re-
ceive anything, and thereafter the Com :,
mon Stockholders shall be entitled to -
all surplus of the entire assets re- a.
e
ARTICLE IV.-The domicile of this 81
corporation shall be the City of New I!
Orleans, and the corporation shall ex- b
ISL for a period of ninety-nine years W
from date hereof. NJ
ARTICLE V.-The powers of this al
corporation shall be vested in and ex-
ercised by a Board of Directors of not
less than three nor more than seven. 10
! majority of whom shall constitute a pt
r Tor the transaction of business. ca
me directors shall be elected by the DC
Common Stockholders on the first In
Tuesday of September of each year. in
,eginning the first Tuesday of Septem- sc
successors shall have been elected and In
Qualified, and elect from their number da
Z their first meeting a President. a tn
Secretary and a Treas ie'
effned by said board. The offices of re-
resident and Treasurer may be held by
ne ana the same person, and the offices "a
vice-President and Secretary may be en-
eId by one and the same person and st,
ne offices of Secretary and Treasurer of
nay be held by one and the same per- De
on. If desired. m,
The following persons shall compose
ne board OF Directors for the first an
,upre street, 500 shares Preferred, TOO tic
mares common; @. Bernard, V.-Pres m,
~ Camp street, 200 shares Preferred
'reas. 1919 Prytania street 700 sbSres no
,reIerred, 1000 shares Common; Frank ist
!attheus. Direc.. III Baronne street m.
w shares Preferred. 400 shares Com TN,
ION; Charles Wainwright. Direc.. 800 :
T. Charles. 800 shares Preferred. 400 at
hares Common. Sro
ARTICLE VINO compensation shall pre-
paid to any officers or directors ex- or
ept the Secretary and Treasurer in be
ny fiscal year until the stockhoIders not
ave received dividends amounting to tor
least fifteen per cent 15%). con
The joint annual salaries of the INA
Ilcers and directors of this corpora ti h,
on, other than the Secretary and oT yi
reasurer, shall at no time exceed fiji D Dni
en- per cent (15%) of the annual net pin
rnings of the company. the
The subscribers hereto have rasnac- SOC,
'eiy written opposite their names the also
,ount or stock subscribed by them to reta
Is corporation, so that this act of Of =
EVAPORATION may also serve as the rati
,ginaI subscription list of this cor DOW
Iati0n. and they have stated their an
stoiIlce addresses so as to conform pIov
IN ACT 267 of the General Assemble the
tne state Of Louisiana of 1911 rati,
ms done and passed at NV office auth
tne City of New Orleans. Louisiane defr
the Gay, month and year herein first ploy
ove written, In the presence of n | shall
fereira and w. M. Brand. the nm" plea
.signed competent witnesses Nh So
reunto sign their names with saiS we'll
pssarers, and me, notary. after dne Iws
Ioing OF the whole oue pro.
louis J. Bernard, 500 sbaras supp
y. leu Vo shares common: q Rar- and
70, zoo shares preferred am DeI A.