New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1905-01-21

ton may determine; provided, that Il
stock shall be issued until the consider;
tion therefor PAS been received by tn
said corporatiMi.
Any stakeholder may sell, assign {
transfer his stock in this corporation
provided Thirty (30)days prior notice {
such intention to self, assign or transfe
the same be given the Company, and tn
other stockholders thereof shall have tn
first privilege of purchasing same, afte
which 30 days notice the said stock ma
| be sold in open market The stock O
said corporation may be transferred un
der the above conditions, provided sucl
| transfer thereof be made ON the books O
said Company, at it's office in New iberia
and on the surrender of the ceriGcat,
| therefor. No transfer of any fractional
| part of share shall be made.
| This corporation shall commence doing
business as soon as Fifteen Thousand
O5.0c0) Dollars of the capital stock shall
have been subscribed for. The Board o.
Directors shall have the right to determine
how much stock shall be sold.
ARTICLE ".
The corporate powers of the Company
shall be vested in and exercised by q
board of Five (5) directors, consisting OF
the president, Vice president, the
secretary and treasurer and two other
directors; three CD 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 George w.
Dallas, president; j. G. Akers, vice pre-
sident; PoIteus Il. Burke, Secretary and
treasurer; Paul LeDanois and Walter j
Burke.
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 pre-
sident shall act and preside. Said Board
shall continue in Office until the first
Monday in January A. D. 1906, on which
date and thereafter annually board of
directors shall be elected on the first
Wednesday in January of each year. nm
less the same shall be holiday, when
the election shall be held on the next
legal day thereafter. Notice of such ele-
elton be given by at least ten (10) days
publication Immediately proceeding each
election in one of the newspapers of this
City; and the board of directors shall an
point one or more stockholders to preside
at such election as commissioners. In
event OF the failure OF any commissioner
Or commissioners to attend, the president
shall, by appointment, fill the vacancy.
Any failure from any cause whatsoever to
elect directors the day named for TINT
purpose shall not dissolve this corpora.
ion, but the directors then i'm office as
we'll as the officers of said company. shall.
hold over until their successors are chosenl
In such event the president shall cause
mother election to be held within thirty
lays, and shall give notice thereof "a
lerein before provided.
At every election and meeting each
tockholder shall be entitled TO vote for
ach share OF stock registered in~ his name |
nd may vote by proxy. The election OF |
irect0rs shall be by ballot and the |
majority in amount OF votes cast. each |
hare OF stock voted npon being counted |
one vote, shall elect the person or |
ersons for whom they have been cast
lfter each election the board shall i'm
lediately elect from their own number
ne officers of said Company.
ARTICLE V.
The board OF directors shall have full
over to fill vacancies in their number
insed by death, resignation or other
Use, from among the stockholders Of the
,rporation.
me SAID board shall have full control
the property of this company. and shall
conduct, manage and use the same as
tneir discretion they deem fit and that
consistent with the objects OF this
'mpany, or the welfare OF the same.