New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1902-03-29

OF the business 70 pc carried on Oy IL Hrs
hereby declared to be as follows, to-wit
To build or excavate canals or water way
for draining or irrigating lands to be plant
ed and cultivated in rice or other crops
To erect and operate a pumping station t.
supply such canals with the necessary
water for irrigating purposes and TO buy
and operate harvesting and threshng ma
chnery, and shall for such purposes have
full power to purchase and own, or lease
real estate, machinery necessary and con
venient to carry on said business, tt
pledge or mortgage, sell or exchange same
to fix tariff or rate of charges for drain
ing or irrigating lands, thrashing and har
vesting rice, and generally, to make ant
enter into any and all contracts in relation
to said business that may become neces
sary.
ARTICLE ".
This corporation may sue and be sued in
its corporate name, hold, have, receive
purchase, convey, sell, mortgage, hypo
thecate, pledge, lease and sub-lease and
enjoy real and personal property also
borrow money and make contracts, receive
grants of land and personal property, and
make and use corporate seal, the same
to alter and break at pleasure name and
appoint such managers, directors, officers
clerks and agents as the interest and con
venience of said corporation may require
make and establish such bylaws, rules
and regulations for the proper management
and regulation Of the affairs of the corpora
ton as may be necessary, and the same to
alter and change at pleasure, and shall
possess all the rights, powers and privile-
ges to which corporations are or may be
by any general law or laws Of this state
authorized or entitled to possess.
ARTICLE v.
The capital of tins corporation is hereby
| fixed at the sum of Twenty Thousand Dol
lars ($2O, 100000 represented by Two
Hundred (200O shares of One Hundred
Dollars ($1OO.O0) each. All stock sub
scribed for shall be payable in cash or
property, real and personal, on such terms
and conditions as the Board Of Directors
may at any time determine. All transfers
of stock shall be made on the books Of the
company, and shall be signed by the stock
holder OF his attorney.
The corporation shall commence bust
ness az soon as One Hundred (lO0) shares
Of the stock shall have been subscribed for.
At all elections by, or meetings Of the
stockholders, each share of the stock shall
be entitled to one vote, to be voted either
by the person in whose name the stock ap-
pears on the books Of the corporation at
the time of the voting, or his agent or
proxy duly authorized in writing to that
effect.
ARTICLE vi.
The said corporation shall be managed
by Board Of Ave 90 Directors who shall
be citizens Of this state and actual stock
holders OF said corporation owning in his
name or the firm or corporation whereof
he is member, or an authorized agent OF
said firm, not less than two shares Of stock,
said board to be elected by a majority Of
all the votes at meeting to be held for
that purpose on the first Monday of January
of each year, after fifteen days prior notice
Of said election having been published in
q weekly New Iberia paper. The directors
thus elected shall serve for one year or
until their successors shall have been
elected and qualified.
All elections shall be conducted under
the supervision of three members to be ap-
pointed by the Board OF Directors for that
purpose, and in case Of any one of said
commissioners Of election declining or
failing to act, the President shall appoint
another to All the place. The said Board
of Directors shall elect from their number
q President, a Vice President, Secretary
and Treasurer who shall serve until their
successors are elected and qualified.
The Board of Directors shall have power
to FIJI vacancies occurring in the Board.
They shall make such bylaws, rules and
regulations as they think proper for the
transaction of the business and Affairs OF
the said corporation, and change, alter
and amend same at pleasure, appoint and
fix the salaries Of oil officers, clerks and
employees, the same to change or dismiss
at pleasure, sell, convey, mortgage, pledge,
lease and purchase property movable, i'm
movable and personal, borrow money,
issue notes and bonds, make contracts
and sign or cause to be signed all neces-
sary acts, deeds, etc., and do all necessary
things to be done in the management Of
said business or may be permitted by
laws applicable to corporations.
Three members Of said Board including
the President or Vice. President shall con-
stitute q quorum for the transaction and
management of all business Of said cor
poration.
ARTICLE VII.
This act OF incorporation may be chang.
ed, modified or altered or said corporation
may be dissolved at q special meeting of
the stockholders convened for that purpose,
after fifteen days prior publication in a
weekly newspaper published in the City
of New Iberia with the assent Of three
fourths Of the capital stock OF said cor
poration.
ARTICLE VIII.
No stockholder shall ever be held liable
or responsible for the contracts or faults
of said corporation in any further sum
than the balance due by him on subscrip-
ton to the capital stock nor shall any
mere informally in organisation have the
effect Of rendering this charter null or Of
exposing stakeholder to any further lia-
bility than the unpaid balance due by him
on said stock.
ARTICLE TX.
The following named persons shall con-
stitute the first Board Of Directors to serve
until the first Monday OF January, 1903
Messrs. s. O. Nuckolls, J. Paul suberbieile,
Thomas w. Muller, Henry Mestayer and
corporation shall be composed Of Thomas
W. Muller, President :; James w. Wyche,
Vice President; Samuel o. Nuckolls, Treas
urer and Secretary.
ARTICLE X.
This corporation shall be liquidated at
the end Of its term, or ut its earlier dis
solution, provided that three.fourths of the
capital stock shall have agreed thereto at
meeting called for that purpose by three
commissioners appointed by the Board Of
Directors at a regular meeting OF said
Board, said commissioners shall be stock
holders Of said corporation and their COM
pensation % liquidators shall be fixed by
the Board on the day Of their appointment.
Said commissioners shall continue to act
until the business Of the corporation shall
be entirely closed and liquidated, and in the
event. Of the death Of either or two OF them,
then the survivors, or survivor alone, shall
act.
Thus done and passed at my ONCE in the
City Of New Iberia, Parish Of iberia, State
Of Louisiana, on the day, month and year
hrst above written in the presence Of
Nessrs. Junius H. White and Homer Dupre
good and competent witnesses residing in
this parish and city who have signed these
presents with the parties and me, notary,
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