New Iberia enterprise. (New Iberia, La.) 1885-1902, 1900-07-07
ACT OF Incorporation
OF THE
New |beT0 Cotton Mil COnp0ny, Lid.
United States of America, State of Louis
lana, Parish of Iberia.

lana, Parish of Iberia
Be it known, that on this seventh day of
the month of June A. d. 1900, before me,
Fred w. Bauman a Notary Public duly
commissioned and qualified, in and for the
parish of Iberia, State Of Louisiana, and in
the presence of the witnesses hereinafter
named and undersigned Personally came
and appeared the parties whose names are
hereunto subscribed, all of full age, who
declared that availing themselves of the
provisions of the laws of this State, relative
to corporations, and especially Section
683 of the Revised Statutes and Act l25 Of
1880, they have covenanted and agreed,
and by these presents covenant and agree,
and bind themselves, as well as such other
persons as may hereafter become associated
with them, to form and constitute corpo-
ration and body polite in law, for the pur-
poses and objects, and under the stipula-
tions, articles and conditions following,
tO-wit:
ARTICLE l.
The name and title of the said corpora
ton shall be NEW IBERIA COTTON MILL
COMPANY, LTD, and its domicile is here
by established in New Iberia, Parish of
Iberia, State of Louisiana and under its
said corporate name, said corporation shall
have power and authority to contract, sue
and be sued to make and use a corporate
seal. and the same to break and alter at
pleasure to hold, receive, lease have,
purchase, improve, alienate, convey, sell,
borrow money by issuing bonds, pledging,
mortgaging and hypothecating under its
said corporate name, property, real, per
sonal and mixed to name and appoint
such officers, directors, agents and man
ayers, or employees as the interest or con
venience of said corporation may require
and to fix their compensation to make
and establish bylaws, rules and rcgula-
tions for the proper management and re-
gulation of it's affairs, as may be deemed
necessary and proper, and the same to
change and alter at pleasure and to do
all other acts and things permitted by law,
or as shall be necessary and proper to
carry out the objects and purposes of said
corporation. The board OF directors may
borrow from time to time such sums of
money as may be required for construction,
repairs or acquisition of property for the
purposes of the corporation, and may issue
bonds or other obligations therefor secured
by mortgage Oh pledge of any and all of
the property, incomes, revenues, ETC., of
said company, payable on such terms as
the said board may direct, with power to
sell, pledge or dispose of such bonds on
such terms as they may deem expedient.
Said corporation, unless sooner dis
solved, in accordance with its charter,
shall exist and continue for the period of
ninety nine years from and after the date
hereof.
ARTICLE II.
The objects and purposes for which this
corporation is organized, and the nature
of the business to be carried on by it, are
declared to be the buying, selling, ginning,
and storing of cotton, to utilize all the
products Of cotton into manufactured
goods, especially to manufacture and sell
textile fabrics of any and all kinds. and
generally to do all that may be requisite
for the carrying out of the purposes above
specified, in or near New Iberia. Louisiana.
ARTICLE III.
The capital stock of the said corporation
shall be Two Hundred and Fifty Thousand
($25O, ,OOO. .OO) Dollars divided into and rep
resented by two thousand five hundred
(25OO) shares of the sum of One Hundred
($10O.0O) Dollars each, which said stock
shall be paid for in cash at the time of
subscription Or by the payment in weekly
installments of fifty (50c) cents on each
share of stock subscribed until the pay
ment in full of the share, or the same may
be issued, at not less than par, in payment
or exchange for property or rights actually
received or purchased by said corporation,
or the same may be issued full paid, for
money advanced, and for such other
valuable considerations or services as the
Board of Directors Of said corporation may
determine provided that no stock may be
issued until the consideration therefor,
has been received by the said corpo-
ration. No person or association of per-
sons will be allowed to hold in his
or its name more than fifty shares of
stock. Any stockholder 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 other
stockholders thereof shall have the first
privilege of purchasing the same, after
which thirty days notice the said stock
may be sold in open market. The stock
Of said corporation may be transferred
under the above conditions, provided such
transfer thereof shall be made on the books
Of said company, at its Office in the city Of
Now Iberia, La, and on surrender of the
certificate therefor. No transfer of any
fractional part of share shall be made.
This corporation shall commence doing
business rs soon as Seventy Thousand
($70, 100000 Dollars Of capital stock shall
have been subscribed for. The Board of
Directors shall have the right to determine
how much stock shall be issued.
ARTICLE ".
The corporate powers of this company
shall be vested in and exercised by board
Of fifteen (l5) directors elected annually
on the first Thursday Of June at general
meeting Of the stockholders held for the
purpose and this board Of directors shall
elect from their number president and
vicc-president ; and they shall also elect a
secretary and treasurer, fixing the COM
pensation therefor. Eight (8) directors
shall constitute quorum for the transac-
tion Of business. The following persons
shall constitute the first board of directors.
who shall serve until the first Thursday of
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