New Iberia enterprise. (New Iberia, La.) 1885-1902, 1900-07-28
ACT OF INCORPORATION
OF
New |be10 Cotton Mil Conp0ny, LID.

New |beIi0 Cotton Mil C0np0ny, LID.
United States of America, State of Louis
lana, Parish of Iberia
Be it known, that on this seventh day of
the month of June A. ID. 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
! G83 of the Revised Statutes and Act 125 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 n cOrpo
ration and body polite in law, for the pur-
poses and objects, and under the stipula-
tions, articles and conditions following,
towit:
ARTICLE 1.
The name and title of the said corpora
tion shall be NEW IBERIA COTTON MILL
COMPANY, LTD, and it's domicile is here
by established in New Iberia, Parish of
Iberia, State of Louisiana and under it's
said corporate name, said corporation shall
have power and authority to contract, sue
and be sued to make and use corporate
seal. and the same to break and alter .at
pleasure to hold, receive, lease, have,
purchase, improve, ALLEVIATE, 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 regula-
tions for the proper management and re-
gulation of its 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 OF 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 H.
The objects and purposes for which this
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 qr near New 1beria, Louisiana, !
ARTICLE III.
The capital stock of the said corporation
shall be Two Hundred and Fifty Thousand
{ $3.50, ,O00. .00) Dollars divided into and rep
by two thousand five hundred
250O) shares of the sum of One Hundred
($1OO.OO) Dollars each, which said stock
shall be paid for in cash at the time of
or by the payment in weekly
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,
Dr. the same may be issued full paid, for
money advanced, and for such other
considerations or services as the
Board of Directors Of said corporation may
determine provided that no stock may be
ssued until the consideration therefor,
las been received by the said corpo-
'ation. No person or association of per-
IONS will be allowed to hold in his
,r its name more than fifty shares of
,tock. Any stockholder may sell, assign
" transfer his stock in this corporation,
provided thirty days prior notice of such
Intention to sell, assign or transfer the
'ame be given the company, and other
thereof shall have the first
privilege of purchasing the same, after
which thirty days notice the said stock
nay be sold in open market. The stock
It said corporation may be transferred
lnder the above conditions, provided such
ransfer thereof shall be made on the books
# said company, at its Office in the city of
lew 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 as soon as Seventy Thousand
$40, 100000 Dollars of capital stock shall !,
ave been subscribed for. The Board Of
Directors shall have the right to determine
low much stock shall be issued.
ARTICLE ". Ii
The corporate powers Of this company {
hall be vested in and exercised by board I
( fifteen (15) directors elected annually {
n the first Thursday of June at general {
Meeting of the stockholders held for the {
urpose and this board of directors shall j
lect from their number president and
ce-president and they shall also elect a g
ecretary and treasurer, fixing the COM {
ensation therefor. Eight (8) directors
hall constitute quorum for the transac- g
ION of business. The following persons U
hall constitute the first board Of directors, q
tho shall serve until the first Thursday Of d
une, 1901, viz: James A. Lee, j. P. G
uberbielle, Leon Dreyfus, Ed. L. Estorge,
'eopold Levy, A. B. Murray, Mic Muller,
!. E. Reynolds, F. G. Blumenthal, II. L. 8
mith, Jerry w. Taylor, Geo. Simon, H. Il
|. Winters, H. p. Ormeyer and r. $. Il
[cMahon. \
Notice of such election shall be given by 9
least ten days continuous publication o
Immediately preceding each election, in p
nc Of the newspapers Of New iberia, La. ! /,
nd the board Of directors shall appoint
ne or more stockholders to preside at p
lch election as commissioners. In the q
rent Of the failure of any commissioner G
: commissioners to attend, the president v
,all by appointment fll the vacancy. y
ny failure for any cause whatever to O.
ect directors the day named for that b
1rpose shall not dissolve the corporation, n
Ut the directors then in office, as well as 81
70 officers Of said company shall hold over d
ntil their successors are chosen. In such m
rent the president shall cause another ol
ection to be held within thirty (30) days, .,
I'd shall give notice thereof a. hereinbe- Il
re provided. At every election and Il
Getting Of stockholders each stockholder oi