New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1904-02-27

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 this corporation is
hereby fixed at the sum OF Fifty
Thousand Dollars, represented by one
thousand shares of $50. 90 each. All stock
subscribed for shall be payable in cash or
property, real and personal, or for services
actually rendered to the company on such
terms aud conditions as the Board of Di-
rectors may at any time determine.
| All transfers Of stock shall be made on
the books of the company and shall be
sigued by the stakeholder or his attorney.
The corporation shall commence bust
ness 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 In whose name the stock
appears upon the books Of the corporation
at the time OF the voting, or by his agent
or proxy duly authorized in writing to that
effect.
ARTICLE vi.
The business and affairs and corporate
powers of the corporation shall be tran
sacted by Board of Five Directors. to be
composed of stockholders thereof, to be
elected by majority of all the votes AZ
meeting to be held for that purpose on the
4th Monday OF April Of each year. 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 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 appoint another to fill the
place. The said Board Of Directors shall
elect from their number President
aud Vice. President who shall serve un-
I'll their successors are elected aud qualified
The Board Of Directors shall have power
to fill vacancies occurring in the Board.
They shall make such bylaws, rules and
regulations as they think proper for the
transaction of the business and the affairs
of the said corporation, and change, alter
and amend the same ut pleasure, appoint
and fix the salaries of all officers, clerks
and employees, the same to change or dis
miss at pleasure, sell, convey, mortgage,
pledge, lease and purchase property,
movable, immovable aud personal. borrow
money, issue notes and bonds; make con-
tracts and sign or cause to be signed all
necessary acts, deeds, etc., and do all me-
cessary things to be done in the manage
ment Of said business as may be permit
ted BY laws applicable to corporations.
Three members Of said Board shall cor
stitute a quorum for the transaction and
management Of oil business Of said sorpor
alton.
ARTICLE VII.
This act of incorporation may be chang
ed. modified or altered, or the said corpo-
ration may be dissolved at = special meet
ing of the stockholders convened for that
purpose, after fifteen days prior notice by
publication in weekly newspaper pub
lished In the City OF New Iberia with the |
assent of three -fourths Of the capital stock
OF said corporation.
ARTICLE VIII.
No stock holder shall ever be held liable |
or responsible fer the contracts or faults |
Of said corporation In any further sum |
than tho unpaid balance due by him on |
subscription to the capital stock. nor shall |
any mere informality In organization have
the effect Of rendering this Charter null,
or Of exposing a stock holder to any fur
Their liability than the unpaid balance due
on said stock.
ARTICLE TX.
The following named persons shall con.
stitute the FIRST Board OF Directors to serve
until the fourth Monday in April, 1904,
viz: Albert Estorge, Leon Dreyfus, Henry
L. Smith, J. Paul Suberbielle aud Jules
Dreyfus, with the said Albert Estorge a.
President and the said Jules Dreyfus %
Vice. President.
ARTICLE X.
This corporation shall be liQuidated Ut
The end Of its term, or at It's earlier diso-
that three-fourths Of the
capital stock shall have agreed thereto At
A meeting called for that purpose by three
appointed by the Board of
Directors at . regular meeting of said
Board. said commissioners shall b stock
holders of said corporation and their COM
pensation - liquidators shall be fixed by
he Board on the day Of their appointment.
Said Commissioners shalt continue to
sst until the business OF the corporation
hall b. entirely closed or liquidated, and
n the event of the death resignation or
inability Of either or two OF them, then
he survivors or survivor shall act.
Thus done and passed in my once In
New Iberia, Parish Of Iberia, State Of
louisiana, on the day, month and year
irst above written, in the presence of
Aessrs. J. Robert Perry and Il. Il. Del
lommer, good and competent witnesses,
esiding In this Parish, who have signed
hese presents with the parties and me,
Notary, after due reading Of the whole.
Attest
|. b. PERRY, LEON DREYFUS,
!. e. DELHoxMER. ALBERT ESTOR0E,
HENRY L. SMITH.
J. p. BUBERBIELLE,