New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1904-04-23

ceive, have, purchase. improve, ALLEVIATE,
convey, sell, borrow, pledge, mortgage
and hypothe cate, under its said corporate
name, property. real, personal and mixed;
to mans and appoint such officers, direc
tors, agents and managers, or employees,
as the interest or convenience of said
corporation may require; to make and es
tablish y-laws. rules and regulations for
the proper management and regu alton of
its affairs, as may be deemed necessary
and proper, and the same to change and
alter at pleasure; and to do all other acts
and things permitted by law, or rs shall
be necessary and proper to carry out the
objects and purposes OF said corporation.
Said corporation, unless sooner dis
solved in accordance with its charter
shall exist and continue for the period of
Ninety nine (S9) years from and after the
date hereof.
The president, or in his absence or in
ability to act the vice president 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
To own and operate Hotel aud do a
general hotel business, and in connection
Herewith to own and operate any and all
business german and incidental to gen
eral hotel business; to own and operate
an Opera House, or geneIal theatrical and
entertainment house for the entertain
ment Of the Hotel guests and the general
public, and in connection Herewith to do
general bin posting business.
ARTICLE III.
The capital stock Of the said corpora
ton shall be One hundred and twenty Ave
thousand dollars divided into and repls-
scented by Twelve hunG ro6 aud fifty (l250)
shares of the-sum of One hundred ($l00 00)
dollars each, which said stock shall be
paid for in cash at the time Of subscrip
ton, or the same be issued, at not less
than par, in payment OF exchange for
property or rights actually received or
purchased by said corporation, or the
same may be issued, full paid, for money
advanced, and for such other valuable
considerations or services as the board OF
directors may determine; provided, that
no stock shall be issued until the eonsid-
Grafton therefor has been received by the
said corporation.
ANY stock holder may sell, assign or
transfer his stock in this corporation, pro-
vded ten (l0) days prior notice of suoh
intention to sell, assign or transfer same
be given the Company, and the other
stockholders thereof shall be given the
first privilege of purchasing the same,
after which ten (10) days notice the said
stock may be sold in open market.
IS he
transferred under the above conditions,
provided such transfer thereof be made
on the books of said Company, at its
Office in New Iberia, and on surrender Of
the certificate therefor. No transfer Of
any fractional part of a share shall be
made.
This corporation shall commence doing
business as soon as Twenty Thousand
1920 100000 dollars 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 ".
The corporate powers of this Company
shall be vested in and exercised by a
board of eleven I'D directors, consisting
of the President, Vice President and the
Secretary and Treasurer and eight (8)
stockholders. Six 90 of said board shall
constitute quorum for the transaction
of business, and their decisions shall be
valid corporate acts.
The following persons shall constitute
the first board Of directors: Porteus K.
Burke, Anselm B. Murray, William g.
Weeks, DR.. Geo. j. Sabatier, Albert Est
orge, Lazard King, Jas Gebert, A,
Cousin, Jr., E. E. Delhommer, J. P. Su-
beIbielle, and Jules Dreyfus.
No person shall be eligible as director
or an officer who is not a stakeholder of
this company.
During the absence of the President,
the Vice President, and in the absence of
both the board may appoint president
pro TEN, who shall act and preside.
Said board shall continue in office until
the first Monday in March, 1905. on which
date and thereafter, annually, Il board of
directors shall be elected on the Sd Mon
day in February Of each year. unless the
same should be holiday, when the cleo
ton shall be held OH the next legal day
thereafter.
Notice Of such election shall be given
by at least (l0) days publication immedi-
ately preceding each election in one of
the newspapers Of this City; aud the
board of directors shall appoint one or
more stockholders to preside at such cleo
tions as commissioners. In event of the
failure Of any commissioner or commits
sioners to attend, the president shall, by
appointment, fill the vacancy. Any fail
ure from any cause whatsoever to elect
directors the day named for that pur
pose shall not dissolve the corporation,
bat the directors then in office, as we'll as
the officers OF said Company shall hold
over until their successors are chosen.
In such event the president shall cause
another election to be held within thirty
days, and shall give notice thereof as
herein before provided.
At every election and meeting each
stockholder shall be entitled to vote for
each share of stock registered in his
name, and may vote by proxy.
The election of directors shall be by
ballot, and the majority In the amount of
votes cast, each share Of stock voted upon
to be counted as one vote, shall elect the
person or persons for whom they have
been cast.
After each election the board of direc-
tors shall elect from their own number
the officers of said Company.
ARTICLE V.
The board of directors shall have full
power to NIL vacancies caused by death,
resignation OF otherwise. from among the
stockholders of the corporation.
The said board shall have full control
Of the property of this Company, and shall