New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1905-02-18

other stockholders thereof shall have the
first privilege of purchasing same, after
which 30 days notice the said stock may
be sold in open market. The stock o1
said corporation may be transferred un
der the above conditions, provided sucf
transfer thereof be made on the books o
said Company, at its office in New Iberia
and on the surrender of the certificate
therefor. No transfer of any fractional
part of SHIRE shall be made
This corporation shall commence doing
business as soon as Fifteen Thousand
| (15.0c0) 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 sold
ARTICLE ".
The corporate powers of the Company
shall be vested in and exercised by a
board of Five 90 directors, consisting of
the president, Vice president, the
secretary and treasurer and two other
directors; three (3) 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, presidents j. G. Akers, vice pre-
sident; Porteus r. Burke, Secretary and
treasurer; Paul LeDanois and Walter J i.
| 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 continpe in Office until the first
Monday in January A. d. 1906, on which
date and thereafter annually a board of
directors shall be elected on the first
Wednesday in January of each year, un-
less the same shall be holiday, when
the election shall be held on the next
legal day thereafter. Notice of such ele
ction be given by at least ten (10) days
publication Immediately preceding each
election in one Of the newspapers of this
City; and the board of directors shall ap-
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 that
purpose shall not dissolve this corpora
ton, but the directors then in Office, as
well as the officers of said company, shal.
hold over until their successors are chosenl
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 everv 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 amount of votes east, each
share of stock voted upon being counted
as one vote, shall elect the person or
persons for whom they have been cast
After each election the board shall i'm.
mediately elect from their own number
the officers of said Company.
ARTICLE v.
The board Of directors shall have full
power to fill vacancies in their number
caused by death, resignation or other
wise, from among the stockholders of the
corporation.
The said board shall have full control
of the property of this company, and shall
so conduct, manage and use the same as
in their discretion they deem fit and that
is consistent with the objects of this
company, or the welfare of the same.
The said board is further authorized
to frame and adopt such bylaws, rules
and regulations as the affairs and busi-
ness of the corporation may require, as
il may deem necessary for the conducting
and management thereof; provided the
same shall not conflict with this charter,
or with the laws of the State, or Of the
United States.
The said board may elect or appoint an
assistant secretary and such other offi GERS,
agents, employees, servents and clerks as
ii may deem necessary for the conducting
of the business of the corporations; fix
their compensation, term of service, with
the right to dismiss them at said board 8
pleasure; and said board shall have the
right to fix ard determine the salaries Of
the several officers herein provided for.
ARTICLE VI
This charter may be changed, modified
or amended, the capital stock increased
or decreased, or this corporation may be
dissolved, at a general meeting Of the
stockholders convened for the purpose,
with the assent of three-fonrths of the
capital stock, whether present or repre-
sented at such meeting. Thirty days
prior notice Of sach meeting shall be
given in any newspaper published in this
City.
In case OF dissolution VI termination of
this corporation, either by limitation Of
its charter or from any cause, the Hquida-
tion Of its affairs shah be conductet by
thee commissioners, selected from the
stockholders, with ike assent, and at
meeting called for that purpose, as above
set forth in this article.
Said commissioners shall remain in
Office until the affairs Of said corporation
shall have been fully liquidated. In case
OF the death Of one or more OF said con-
missoners, the survivors or survivor shall
continue to act.
ARTICLE VII.
No stockholder OF this corporation shall
ever be held liable or responsible for the
contracts OF faits thereof, in any further
sum than the unpaid balance dne the
company on the shares Of subscribed for
OF owned by him. nor, shall any infor-
mality in organization have the effect Of
rendering this charter null, or Of exposing
a stockholder to eny liability, beyond the
unpaid balance, II asy, Of his stock
Thus done and passed 1t myN Notarial Of
ice in the City 81 New Iborin. Parish of