New Iberia enterprise. (New Iberia, La.) 1885-1902, 1900-07-14
ACT OF INCORPORATION
OF THE
New |beTi0 Cotton Mil Conp0ny, Lid.

New |berI0 Cotton Mil Conp0ny, 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. d. 1900, before me,
Fred w. Bauman, q Notary Public duly
commissioned and qualified, in and for the
parish of Iberia, State of louisiana and III
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
GS3 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,
O-wit
ARTICLE /.
The name and title of the said corpora
ton shall be NEW IBERIA COTTON MILL
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 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,
and hypothecating under its
said corporate name, property, real, per
sonal and mixed; to name and appoint
such officers, directors, agents and man
venience of said corporation may require
md to fix their compensation to make
and establish bylaws, rules and regula-
ions for the proper management and re-
,ulation of its affairs, as may be deemed
necessary and proper, and the same to
change and alter at pleasure ; and to do
Ill other acts and things permitted by law,
,r as shall be necessary and proper to
carry out the objects and purposes of said
The board of directors may
borrow from time to time such sums of
money as may be required for construction,
'epairs or acquisition of property for the
purposes of the corporation, and may issue
ponds or other obligations therefor secured
~ mortgage or pledge of any and all of
he property, incomes, revenues, ETC., of
laid company. payable on such terms as
he said board may direct, with power to
ell, pledge or dispose of such bonds on
uch terms Us they may deem eXpedient.
Said corporation, unless sooner dis
olved, in accordance with it's charter,
hall exist and continue for the period of
ninety nine years from and after the date
lereof.
ARTICLE II.
The objects and purposes for which this
is organized, and the nature
f the business to be carried on by it, are
eclared to be the buying, selling, ginning,
nd storing of cotton, to utilize all the
'rOducts of cotton into manufactured
oods, especially to manufacture and sell
eXtile fabrics of any and all kinds. and
enerally to do all that may be requisite
or the carrying out of the purposes above
in or near New Iberia. Louisiana.
AkTICIL, ul.s
The capital stock Of the said corporation
hall be Two Hundred and Fifty Thousand
$3.50, 900. .O0) Dollars divided into and rep
esented by two thousand five hundred
25OO) shares of the sum of One Hundred
300. .O0) Dollars each, which said stock
hall be paid for in cash at the time of
Inscription or by the payment in weekly
of fifty (50c) cents on each
hare of stock subscribed until the pay
rent in full of the share, or the same may
e issued, at not less than par, in payment
r exchange for property or rights actually
pceived or purchased by said corporation,
r the same may be issued full paid, for
loney advanced, and for such other
considerations or services rs the
'oard of Directors of said corporation may
etermine provided that no stock may be
,sued until the consideration therefor,
as been received by the said corpo-
alton. No person or association Of per-
ons will be allowed to hold in his
+ it's name more than fifty shares of
tock. Any stockholder may sell, assign
r transfer his stock in this corporation,
rovided thirty days prior notice of such
ltention to sell, assign or transfer the
anne be given the company, and other
,ockhOlders thereof shall have the first
rivilege of purchasing the same, after
hich thirty days notice the said stock
lay be sold in open market. The stock
said corporation may be transferred
nder the above conditions, provided such
'ansfer thereof shall be made on the books |
! said company, at it's Office in the city of
ew Iberia, La, and on surrender of the
,rtifcate therefor. No transfer of any
actional part of a share shall be made.
his corporation shall commence doing |
nsiness as soon as Seventy Thousand |
s70, 100000 Dollars of capital stock shall |
ave been subscribed for. The Board of
irectors shall have the right to determine
,w much stock shall be issued.
ARTICLE ".
The corporate powers of this company
lall be vested in and exercised by board
fifteen (15) directors elected annually |
1 the first Thursday of June at general
Getting of the stockholders held for the
lrpose and this board of directors shall
ect from their number president and
ce-president I; and they shall also elect
cretary and treasurer, fixing the COM
,nsation therefor. Eight (8) directors
lall constitute a quorum for the transac-
on of business. The following persons
lall constitute the first board of directors,
no shall serve until the first Thursday of
me, 1901, viz: James A. Lee, J. P.
lberbielle, Leon Dreyfus, Ed. l.. Estorge,
eopold Levy, A. b. Murray, Mic Muller,
E. Reynolds, F. G. Blumenthal, II. L.
NTH, Jerry w. Taylor, Geo. Simon, II.
Winters, H. P. Ortmeyer and r. S.
cMahon.
Notice of such election shall be given by
least ten days continuous publication
lmediately preceding each election, in
10 Of the newspapers of New Iberia, La.
ID the board of directors shall appoint
70 or moro stockholders to preside at
ch election as commissioners. In the
ent of the failure of any commissioner
commissioners to attend, the president
all by appointment fill the vacancy.
ny failure for any cause whatever to
ect directors the day named for that
rpose shall not dissolve the corporation,
It the directors then in Office, as well as
e officers of said company shall hold over
til their successors are chosen. In such
ent the president shall cause another
sction to be held within thirty (3O) days,
d shall give notice thereof as hereinbe-
re provided. At every election and
aeting OF stockholders each stockholder I