The weekly Iberian. (New Iberia, La.) 1894-1946, 1904-07-30

and chanSe at pleasure, anu Seuelaiiy
to do any and all things necessary and
proper to the carrying on of it's busi-
nesses.
ARTICLE ".
The capital stock of said corporation
shall be Twenty thousand Dollars
$50 100000 divided into and repre-
scented by four hundred shares of Fifty
Dollars $4,000 each, which shall be
issued and paid at such times and un'
der such regulations as the Board OF
Directors may determine. Or it may
be issued at no less than par in pay
ment of property purchased by or for
labor and services rendered said cor
poration. All transfers Of stock shall
be made on the books of the Company
by the stockholders or their duly au-
thorized agents or attorneys-in-tact.
This corporation shall commence bust
ness as soon as one hundred and
twenty shares of the capital stock
shall have been subscribed for.
ARTICLE V.
All the corporate powers of this cor
poration shall be vested in and exer-
cired by Board of Directors composed
of five stockholders, each owning one
or more shares of stock. Said Direc-
tors shall be elected at general meet
inp of the stockholders convened for
that purpose on the First Tuesday IN
April of each year. And each share
of stock present or represented by
written proxy shall be entitled to one
vote, The election shall be held at
the office of the corporation and notice
of said election shall be given by pub
lieation at least 10 days prior to said
election, in one of the weekly news
papers published in the Town of New
Iberia, La. Failure to hold an cleo
ton on the day specified shall not dis.
solve this corporation but the Dlrec-
tors in office shall hold their respec-
tive offices until the election be sub
sequently held, after ten days notice
of the time and place thereof. All
vacancies on said Board shall be filled
by the remaining Directors, and three
directors present or represented by
proxy shall constitute quorum for
the transaction of the business OF the
Company. The Board of Directors
shall elect President and Vice-Presi-
dent, and appoint all such agents.
managers clerks, ETC., as they may
deem proper, defining their powers
and duties and fixing their compensa-
ton. The following named persons
shall constitute the first Board OF
Directors to serve until the First
Tuesday of April, 1905, or until their
successors have been elected Z. =.
Putnam, Lazard King, G. Z. Laugh
lin, R. P. Rlbbeck. and DR.. I. T. Rand
ARTICLE vi.
This act of incorporation may be
changed, modified or amended OF
! said corporation dissolved, with the
consent of tn rec fourths of the capital
stock of said corporation. at special
meeting of the stockholders convened
for that purpose, after the same notice
as provided for election.
ARTICLE VII,
Upon the dissolution of this corpora
ton by limitation or otherwise, its
affairs shall be liquidated by two
commissioners to be elected by the
stockholders who, at the same time
shall fix their compensation.
ARTICLE VIII.
No stakeholder shall be liable or re.
sponsible for the debts, contracts OF
faults of this corporation in any fur
Their sum than the unpaid balance due
to the Company on the shares owned
by him, nor shall any mere informally
in the organization have the effect o.
rendering this Charter null, or of ex
posing stakeholder to liability be
yond the amount of his indebtedness!
| to said corporation.