New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1904-03-26

age, navigable and irrigating canals,
"a ercrafts, tramways and railroads in
SO far as these are necessary to the
operations of the foregoing purpc ses
the feeding and grazing of cattle and
prepare the same, its products and by
products into marketable products
enter into contracts with farmers or
other persons for the purpose of Guilt
waiting crops CT all kinds and for Sc
curing the same for the mills and fac
tories which said company may oper
ate, subscribe to and hold stock in
other corporations of kindred nature
and to do any and all things that may
be necessary to carry out any or all OF
the objects named, and shall for such
purposes have full power to purchase
cry, ETC., necessary or convenient to
carry on said business, to pledge or
mortgage, sell or exchange same, to
fix tariff or rate of charges for receiv-
ing, storing and forwarding rice and
for milling same, and generally to
make and enter into any aud all con-
tracts in relation to said business that
may become necessary.
ARTICLE w.
This corporation may sue and be
sued in its corporate name, hold, have,
receive, purchase, convey, sell, mort
gage. hypothecate, pledge, lease and
suitcase and enjoy real and personal
property also borrow money and make
contracts, receive grants of land and
personal property, and make and use
a corporate seal, the same to alter
and break at pleasure; name and ap-
point such managers, directors. off
GERS, clerks and agents as the interest
or convenience of said corporation
may require, make and establish such
bylaws, rules and regulations for the
proper management and regulation Of
the affairs of said corporation as may
be necessary and the same to alter and
change at pleasure, and shall possess all
the rights powers and privileges to
which corporations are or may be by
any general law or laws of this State
authorized and entitled to possess.
ARTICLE V.
The capital stock of thi corporation
shall be Fifty Thousand Dollars repre-
sented by one thousand shares of fifty
dollars each, which shall be paid at
such time and under such regulations
as the Board Of Directors may deter
mine or it may be issued at not less
than par in payment of property pur-
chased by or for labor and services
rendered the said corporation which
shall not begin business until one
hundred shares of the capital stock
shall have been subscribed. All
of stock shall be made on the
books of the company and shall be
signed by the stakeholder or his attor-
ney.
The corporation shall commence
business as soon as 100 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 inwhose
name the stock appears upon the books
Of the corporation at the time Of the
voting, or by his agent or proxy duly
in writing to that effect.
ARTICLE vi.
The business and affairs and corpor-
ate powers of the corporation shall be
by Board Of five directors,
to be composed of stockholders thereof.
to be elected by majority Of ali the
votes at meeting to be held for that
purpose on the first Monday in May,
Of each year. The Directors thus
elected shall serve for one year or un-
til their SUCCESSORS shall have been
elected and qualified. All elections
shall be conducted under the supervi-
sion of three members to be appointed
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 ap
point another to fill the place. The
said Board of Directors shall elect from
heir number President and Vice
who shall serve until their
are elected and qualified. The
Board of Directors shall have power to
i'll vacancies occurring in the Board.
they shall make such by laws, rules
md regulations as they think proper for
he transaction of the business and the