The weekly Iberian. (New Iberia, La.) 1894-1946, 1903-10-24


money advanced ard fer .uch other
valuable consderal ions IA the Board of
Directors # said corporation may
determine; provided. that no stock
shall be issued until the consiiera-
ton therefor has been received by said
corporation.
Anv stakeholder may sell. assign or
sell his stock this corporation, pro-
vided thirty DAYS prior notice of such
intention to sell. assign or transfer he
same be given the company, and the
other stockholders thereof shall have
the first privilege Of purchasing same.
after which thirty DAYS notice the
said stock may be sold in open mar
ket.
The stock of said corporation may be
transferred under the above condi-
tons, provided such transfer thereof
be made On the books of the corpora
ton At its office and on surrender of
the certificate therefor. No transfer { f
any fractional part of share shall be
made.
This corporation shall commence do
ing business AS soon AS Twenty-Five
shares of the capital stock shall have
been subscribed for.
The Board of Directors shall have
the right to determine how much stock
shall be issued.
Article s.
The said company is empowered and
authorized:
First-To construct, establish or pur-
chase aud thereafter to own, lease,
maintain and use, suitable walls,
piers, depots, stations and other works
and appurtenances connected with and
incidental to said railway and its con-
nectiOns, and to run and manage the
same as the Directors of salt: company
may deem to be most expedient
and for the welfare OF said corpora.
ii n.
Second-To take, transport, carry
and convey persons and property upon
its said railway, by steam or other
power, and 10 receive for safe keeping
and to store merchandise and property
in it yards and warehouses, and to re-
ceive for such transportation, safe
keeping or storage such tolls and
charges as from time to time may be
established or authorized TO be estab-
lished by Directors of said railroad
company.
Third-To obtain and receive by
purchase, grant, gift and bequest, both
real and personal prOpc rty, and for the
purchase of lands to issue stock certifi.
Gates in payment therefor, at such
valuation as NAV be agreed IN bv the
Directors Of said company and the
owners Of said land.
Fourth-To obtain, by grant or other
wise from any parish, city Or village,
within the State, any rights, privilege
or franchises that any Of said parishes
cities, or villages may choose to grant,
IN reference to the construction or
maintenance, management and use OF
the railroad, its depots, cars. locomo-
tives, and its business within the
limits of such or any of said parishes,
cities and villages.
Fifth TO appropriate property &C.
cording to existing laws.
Sixth-To purchase or lease from
any railroad company or corporation,
at any authorized sale, any railroad
and the charter, franchises, property
and appurtenances thereof, and main. |
tain and use the same as part of the
Of their company.
Seventh-TO borrow money or to
purchase or lease property on its own
credit for the purpose of constructing
and maintaing said railroad. and as
evidence of the Indebtedness of said
company for such loans or the pur-
chase or lease ofsaid property, to issue |
it's corporate bonds or promissory
notes, bearing interest at such rate per |
annum as the Directors may elect and
made PAYABLE IN gold or United States |
at such times and places as
as may be deemed most to the advan-
tage Of the corporations, and for Sc.
curing the payments of said bonds or
notes, to mortgage and pledge its rail-
roads, its capital stock, its corporate |
and any of its real aud per-
'onal property, or any portion OF the
same.
Article6 8.
Tho corporate powers shall be vested In a |
Board of fifteen members. stockholders on |
shall be eligible to Office. Directors shall |
De elected BY the stockholders on the LIST |
Monday OF October Of each year at 12 NJ. The |
lrst ROark OF directors Orgxnizlng the COM |
1any to hold their Office until the 6rst Mon |
lay OF October, 1904. In case OF no election |
IN the day named, the said Directors shall |
continue In Office until their successors are !
elected and enter upon the discha rge of their |
luties. The Directors shall elect FROM |