The herald., 1922-11-02
CHARTER
CHARTER OF SUPERIOR LAUNDRY.
INC.

this the fifth day of the month OF sep
TENDER, in the year of our LORD ont
thousand nine hundred and twenty-five
before me- Charles Schneidau, a 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 mere
unto subscribed, who declared that
availing themselves of the laws of this
State relative to the organization o.
corporations, they have covenanteC
and agreed, and do, ny these present:
covenant, agree, bind, form and con
stitute themselves. as well as such per
sons as may hereafter join or become
associated with them, into a corpora
ton and body polite in law for th'
objects and purposes under the agree
ments and StipulationS following, 10
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 deil
in all kinds of supplies and equip
ment used in the laundry and dry
cleaning business, and To that emu
shall have the powers necessary 10
carry out the objects thereof, ana ShiIl
have the rights in the connection with
the said business and In lurtheTdhce
thereof, TO purchase. own, lease mort
gage and ALLEVIATE real estate ana 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 HI.-The capItar STOCK or
this corporation is hereby fixed at forty
thousand dollars (S4O,00O.00) divided
into two classes:
1) $500 shares of the par value
of ten dollars $4,000 each, shall be
known and designated as Preferred
Profit-Sharing Stock, which shares
shall be preferred both in principal
and dividend to the stock known as
Common Stock, or any other issue OF
stock. bonds notes or mortgages.
90 5000 shares of the par value of
one dollar ($l.OO) 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.
out of the net earnings of the cor
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 a like dividend of 1870 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 a 2f3 vote, to the sum of
not more than ninety-five thousand
dollars (S95,00O.00), 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 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
mon Stockholders shall be entitled to
all surplus of the entire assets re-
naming.
ARTICLE Iv.-The domicile of this
corporation shall be the City of New
Orleans. and the corporation shall eN-
list for a period of ninety-nine years
from date hereof
corporation shall be vested in and ex-
ercised by a Board of Directors of not
less than three nor more than seven.
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-
s-l,n ~
successors shall have been elected and
qualified and elect from their number
at their first meeting President,
Vice-President, Secretary and Treas
urer, whose powers and duties shall be
defined by said board. The offices of
President and Treasurer may be held by
one and the same person. and the offices
of Vice-President and Secretary may be
held by one and the same person, and
the offices of Secretary and Treasurer
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 ]. Bernard. Pres 1903 s.
Dupre street, 500 shares Preferred, 200
shares common; G.. Bernard, WIRES.
100 Camp street, 200 shares Preferred
800 shares common: II. w. Baird, Sec
Treas, 1919 Prytania street, 700 shares
Preferred, 1000 shares Common; Frank
Matthews Direc., III Baronne street,
800 shares Preferred. 400 shares Com
mon; CharleS wainwright, Dlrec., 6Zz
st. Charles 300 shares Preferred, 40C
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 tc
at least fifteen per cent U5%).
The joint annual salaries of the
OFFICERS and directors of this corpora
ton. other than the Secretary and
Treasurer, shall at no time exceed fiji
teen per cent $50 of the annual net
earnings of the company.
The subscribers hereto have respec-
lively written opposite their names the
H,1emount of stock subscribed by them To
nis 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
Oh 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
above written, in the presence of c.
w. Pereira and w. NJ. Brand, the un.
dersigned competent witnesses. who
hereunto sign their names with said
appearers. and me, notary, after due
reading of the whole
Louis ]. Bernard, 500 shares pre.
ferred, 200 shares common; G. Der.
nard. zoo shares preferred, 300 shares
common; n. w. Baird, 700 shares pre-.
ferred, 1000 shares common, Franz
Matthews. 800 shares preferred. 40C
Sharas Choo 90,