New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1903-10-03
CHARTER
-Of-
The Salt Water Lumber Co., Ltd.
United States OF America, State OF
Louisiana, Parish Of iberia.


of the month OF September, AID. 1903,
before me, John Z. Schwing, Notary
Public, duly commissioned and quail
fed in aud for the Parish Of Iberia,
State Of Louisiana and in tho 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 a:ailiug themselves
OF the provisions of the laws OF this
State, relative to corporations and es-
pecially Of Act No. 36 OF 1858 OF the
General Assembly of Louisiana, they
have covenanted and agreed and by
these presents covenan. and agree and
bind themselves, as well as such other
persons as may hereafter become assO-
ciated with them, to form and consti-
tute "A corporation and body polite in
law, for the purposes and objects and
under the st;pulations, articles and
conditions, to-wit:
ARTICLE l.
The name and title of the said cor
poration shall be ''The Salt Water
Lumber Company, Limited" and its
domicile is hereby established in
Pa.outville, State of Louisiana and
under its said corporate name, said
corportion shall have the power and
authority to contract sue and be sued
to make q 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 ap-
point such officers, directors, agents,
managers or employees, ss 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 ami to do all other acts or
things permitted by law, or as shall
be necessary and proper to carry out
the objects and purpose of said cor
poration.
Said corporation unles sooner dis
solved in accordance with its charter,
shall esis. and continue for the period
of Nine ty Nine (99) years from and
after tie date hereof.
The President and in his absence
the Vice President orSecretary shall be
the proper person upon whom citation
or other legal process shall be served.
ARTICLE II.
The oil jec.s 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, railroad.
or bitches and bridges necessary for
the proper carrying on of its business
to erect, operate and own a mill for
cutting timber; to own and operate
one Of more boats for dragging tim
Der or for the purposes in connection
Herewith, and to carry on generally
lumber manufacturing and said
mill business, and to do everything
necessary and convenient in connec-
ton with the business.
ARTICLE III.
The capital stock of the said corpor-
alton shall be One Hundred Thousand
and O0-lo0 800. OOO. COZ Dollars
divided into and represented
by One Thousand (looo) shares Of One
Hundred and CO. 1907 eloo) Dollars each,
which 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
actually received by the corporation,
or tho same may be issued full paid
for money advanced or for snch other
valuable consideration or services ~
the Board Of Directors may determine ;
provided that no stock shall be issued
until the consideration therefor has
been received by the raid corporation.
Any stakeholder may sell. assign or
transfer his stock in this corporation,
provided thirty (3O) days ns:ice Of
such intention to sell, assign or trans
fer the same be given the corporation
and the shareholders shall have the
FIRST privilege Of purchasing same.
In the event the shareholders refuse
to buy the same. it shall be sold in
open market at expiration Of notice.
All transfer Of stock shall be made
upon the books Of the corporation.
This corporation shall commence
doing business as soon aT Ten Thou
sand and 0o-lOO ($l0, 600. col Dollars
the capital stock, shall have been
subscribed and paid In.
The Board Of Directors shall have
the right to determine how much
stock shall be issued.