New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1902-08-23

also borrow money and mako contracts,
receive grants of land and personal prop
erty, and make and use n corporate seal,
the same to alter and break at pleasure
name. nominate, appoint or elect such
employees rs the interest and convenience
of said corpoatou may requires make and
such bylaws, rules and Tegu-
Iations of the affairs of the said corporatls q
as may be necessary, aud the same to
alter and change at pleasure and shall
possess all the rights, pSGers and priv
legcs to which corporations are or may
be by any general law or laws of this
State authorized aud entitled to pos
sess.
ARTICLE V.
The capital of this corporation is hereby
fixed at Ten thousand ($10, 900 .0O) Dollars.
by one thousand shares Of ten
$4,000 each All stock subscribed for
shall be payable in cash or property, real
and persouaI on such terms aud condi-
ditions as the Board of Directors may at
any time determine. All transfers OF
stock shall be made on the books OF the
CORPORATION and shall be signed by the
stockholder or his Attorney, who must be
authorized in writing. The Corporation
shall go in operation as soon as fifty shares
of the stock shall have been subscribed
for aud paid in Aud the Board o. pl-
rpctors shall have right to receive sub.
scrjplon to the balance of said capital
stock until all the shares shall have been
taken up. At all the elections or meet
ings of the stockholders each share of the
stock shall be entitled to one vote, to he
voted by tho person in whose name the
stock appeals on the books of the Corpo-
ration at the timo of the voting. Attend
aucc of Is stock holders shall constitute =
quorum.
ARTICLE VI.
All corporate powers of this Corporation
and the management and control OF It's
business shall be vested in and exercised
by Board of Directors, who shall be citI-
zens of this State and actual shareholders
of said Corporation, owning III his own
name not less than one share of stock.
Said Board shall be elected by majority
of all the votes cast at n meeting to be
held for that purpose on the first Monday
of June Of each year after fifteen days
prior notice of said election having boon
published in a New iberia weekly paper.
The said Board shall be composed Of nine
stockholders, which number may he in.
crensod TO twelve or lessened to as few as
seven by a vote of the majority Of shares
present at any call or special meeting of
the stockholders, where Is members are
present. The Directors thus elected shall
serve for one year or until their successors
shall have been elected and qualified. No
failure to elect shall operate forfeiture
of this Charter All elections shall be
conducted under the supervision Of three
stockholders to be appointed by thu Board
of Directors from without their number,
for the purpose; and in case of any one of
said commissioner of election declining
or failing to act, tho President shall ap-
point another to fill the place, Any va
caucv occurring on said Board shall be
filed by an appointment by the remaining
Directors for the unexpired torn. The
Board of Directors shall at its first meet
ing after its election nominate out Of its
number n President, Vice President, a
Secretary and n Treasurer. Said Board
shall have power and authority to com
bine the functions of Secretary and
Treasurer, and to appoint one officer
therefor,
ARTICLE VII.
Until the election to be hold on the
first Monday of June, 1908, the following
named persons shall constitute the first
Board of Directors: Messrs. J. +. Dupuy,
J. W. Sanders, Clarence Duperier, Oscar
Dupre. A. Daigre II. l.. Smith, Il. Il.
Morse, julius Scharff and A. G. Wilson,
and the said Jules f. Dupuy shall be
President, said DR.. Wofford Sanders shall
be Vice. President, said Clarence Duper-
"a Gu,
berbiele shall be Treasurer. A majority
of the Directors shall constitute quorum,
but all members in the Parish must be
notified
ARTICLE VIII.
No stakeholder shall ever be held liable
or responsible for the contracts, faults or
debts of said corporation in any further
sum than the balance due by him on sub
scription of the capital stock, nor shall
any mere informally in organization OF
this corporation have the effect of render-
ing this charter null or of exposing a
stakeholder to any further liability than
the unpaid balance due by him on said
stock.
ARTICLE TX.
This act of incorporation may be
changed modified or altered or said cor
poration may be dissolved, ut special
meeting of the stockholders convened for
that purpose, after fifteen days prior pub
LEGATION IN New Iberia weekly paper
and a written notice of this meeting shall
have been given through mail, addressed
to each shareholder at his last known
place of residence, with the assent of u
majority of the subscribed stock of said
corporation.
ARTICLE X.
This corporation shall be liquidated at
the end of its term or at its earlier disso-
luton provided that a majority OF the
stockholders, both in stock and number,
shall have agreed thereto at meeting
called for that purpose by three Commiss-
toner's appointed by Ae Board of Direc-
tors at regular meeting of said Board ;
said Commissioners shall be stockholders
of said corporation and their compensation
as liquidators shall be fixed by Board on
the day of their appointment. Said Com
missioners shall continue to act until the
business of the corporation shall be en-
tirely closed and lquidated and in the
event of death of either or two of them
then the survivors or survivor alone shall
act.
Thus done and passed in my office in
the City of New Iberia, Parish of Iberia,
State of Louisiana, on the day, month and
year first above written, in the presence
of G. l.. Widney and J. W. Wyche, good
and competent witnesses residing in this
Parish, who have signed their names with
the appearers and me, Notary, after due
reading of the whole.
JULES Il. DUPUY,
J. T.. SCHwING,
H. f. SUBERBIELLE,
A. w. RIBBECK,
A. G. WILSON,
U C.Nrrpc NJ II