New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1903-09-05
CHARTER
The Salt Water Lumber Co., Ltd.

fed 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 es-
pecially of Act No. 36 of 1888 of the
General Assembly of Louisiana, 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 asso-
| ciated with them, to form and consti-
tute corporation and body polite in
law, for the purposes and objects and
under the stipulations, articles and
conditions. to-wit:
ARTICLE /.
The name and title of the said cor
poration shall be 1.-The Salt Water
Lumber Company, Limited, and its
domicile is hereby established i'll
Jeanerette, State of Louisiana and
| under it's said corporate name, said
corportion shall have the power and
authority to contract sue and be sued
to make corporate seal and the same
TO break and alter at pleasure. to hold,
receive, have, purchase, improve,
ALLEVIATE, convey, sell. borrow pledge,
mortgage and hypothecate, under its
said corporate name, property, real,
personal, and mixed to name and APP
point such officers, directors, agents,
managers or employees, as the interest
or convenience of said corporation may
require; to make and establish by
laws, rules and regulations for the pro
per management and regulation of its
affairs as may be deemed necessary
and proper and the same to change at
| pleasure and TO do all other acts or
things permitted by law, or as shali
be necessary and proper to carry out
| the objects and purpose OF said cor
poration.
Said corporation unlps sooner DIS
solved in accordance with its charter
shall exist and continue for the period
of Ninety Nine t99) years from and
after the date hereof
The President and i'll his absence
the Vice-President OrSecretary shall be
the proper person upon whom citation
or other legal process shall be served
ARTICLE Ii.
The objects and purposes for which |
this corporation is organized and the
nature of the business to be CARRIED |
on by it are declared to be the follow
ing, towit: to buy and sell lands, with
timber, to purchase timber. to cut
and saw timber into merchantable
lumber and to sell same; to construct,
work and maintain canals, railroads
or bitches and bridges necessary for
the proper carrying Oh of its business;
to erect, operate and own mill for
cutting timber; to own and operate
one or more boats for dragging tim
Der or for the purposes in connection
Herewith, and to carry on generally
a lumber manufacturing and said
mill business, and to do everything
necessary and convenient in connec-
tion with the business.
ARTICLE III.
The capital stock of the said corpor-
alton shall be One Hundred Thousand
and OO-10O $500, 600. O0) Dollars each,
which divided into and represented
by One Thousand (lOO0) shares of One
Hundred and oo-1Oo $500 O0) Dollars,
divided into and represented by One
Thousand (lOOO) shares of One Hun
bred and OO-1OO $500 OO) Dollars each
with said stock shall be paid for in
cash at the time of subscription, or
the same may be issued at not less
than par for labor done or property
received by the corporation
Or the same may be issued full paid
fOr money advanced or for such other
consideration or services as
he Board of Directors may determine;
that no stock shall be issued {
Until the consideration therefor has o
,een received by the said corporation h
Any stakeholder may sell. assign or i
ransfeF his stock in this corporation, b
provided thirty 1901 days notice of b
UGH intention to sell, assign or trans t
er the same be given the corporation o
md the shareholders shall have the o
lrst privilege of purchasing same 81
II the event the shareholders refuse p
0 buy the same, it shall be sold in Il
pen market at expiration of notice.
All transfer of stock shall be made Il
pom the books of the corporation. is
This corporation shall commence
DING business as soon as Ten Thou
and and OO-1O0 $50, 600. COZ Dollars
he capital stock, shall have been
and paid in.
The Board of Directors shall have S
he right to determine how much
;ock shall be issued. ii
ARTICLE ". tr
The corporate power Of this corpor- nc
ion shall be invested in and exer- III
sed by q Board Of Five f5)Directors,
of the President, Vice. Pres tn
ent, Secretary and Treasurer and Sc
70 stockholders. Three 81 members
said Board shall constitute quorum
r the transaction of business and
cir decisions shall be corporate acts.
The following persons shall compose
Q first Board of Directors H. Patout,
J. B. Brown, Vice. Presi- j
MT; Willie Patout, Secretary Treas n
or. Silvio Broussard and G. A. Poir-s IA
q two shareholders of this corpora II
N.
Said Board shall continue in Office
til the first Tuesday Of August A. N
1904. on which date thereafter an "
ally. . Board of Directors shall be
cited, unless the same falls on hol-