New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-04-07


hereafter determined upon; with all necessary
spurs, sidetracks, switches, turnouts, water
tanks, sand and gravel pits, stations station
houses, yards, depots, warehouses; grain eleva-
tors, cotton congresses roundhouses, sheds coal
chutes. warehouses, platforms, ferries, bridges
and all other accessories adjuncts and appur.
tenances necessary, proper and convenient for
the operation OF said line of railways TO locate
construct or otherwise acquire and operate with
all necessary accessories adiuncts and appurten.
ances connecting lines of railway, branch lines
and extensions from such points on said main
line as said Corporation MAY select to other
points in the State of Louisiana or in other
states to obtain ana receive by grant, purchase
gift or bequeSt both real and personal property:
and for the purchase of land supplies material
rolling stock or the payment of labor contracts
and works, to issue stock certificates or bonds in
payment thereof, and at such valuations as may
be agreed upon by and between the directors OF
this Corporation and the owners of land mater
ial, supplies, rolling stock and the laborers OF
contractors of work; to obtain, accept receive
from any state, county, parish, district, town,
village or person any rights, privileges or fran
chises which the same may offer for the cOnstruc-
tlon, maintenance, management or use of its
transportation lines, their dep0tS, wharveS
shops, ears, locomotives and general business
which the same may choose to grant, release 10
or otherwise confer or give; to borrow money OF
to purchase or lease property on its own credit
Tor the purpose of constructing antalning and
operating the lines of transportation and tele.
graph; and, as evidence of Indebtedness of this
Corporation for such loans the purchase OF
bonds, or promissory note, bearing interest and
made payable either in United States currency OF
gold coin and at such time and place may be
approved by tine directors and for securing the
payment of said bonds or notes to mortgage and
pledge its railroad, capital stock, company
buildings, corporate franchises and immunitieS
real or personal property, or any portion Of the
same; to lease or sell its lines of railway in
whole or in part to other companies; to lease 9th
| err railways either within or without the state OF
Louisiana; to purchase or consolidate with Other
railway companies organized under the laws OF
Louisiana or of any other state of the Union and
to acquire aud hold the stocks, bonds and secure
ties of such other railway corporations; to guar
antee the stocks, bonds and securities of such
other railway corporation as this Corporation
may be interested in; to construct and maintain
passenger depots, freight yards and warehouses
and to permit the use of such depots ms union
depOts, to construct or otherwise acquire and
operate steamships and other vessels for the
carriage of freight and passengers for hire; tC
construct, own and operate docks and wharves
for the landing of vessels and for the securing OF
storing ana forwarding OF freight ana accomoda-
ton of passengers to establish and operate tele
graph and telephone lines, to construct or other
wise acquire maintain and operate canals fol
navigation and to acquire and hold stocks, bonds
or other secureties of other corporations owning
and operating such canals. and generally to hold
and exercise all such incidental powers and priv
ilegeS relate to the objects herein set forth.
ARTICLE ".
The capital stock of this Corporation is hereby
declared to be the sum of One Million Dollars
ISL 900 100000 divided into and represented by
ten Thousand shares of the par value One Hun
bred $500 00) Dollars each, which stock shall
be paid for in cash, such installments and
after such notices as the board of directors may
fix or may be issued in payment of labor or ser
vices rendered or property actually received by
the said corporation.
In case of the failure of any subscriber to pay
the installments demanded on his stock, re-
quired, the board of directors shall have the OPP
ton after thirty 900 days written notice to the
delinquent of FORGETTING his stock with all
amounts previously paid thereon, and no stock
holder shall have the right to vote while in de
fault for unpaid installments due on his stock
This Corporation may begin its business and
operations as soon as Five Thousand (S5 O0000)
Dollars of its capital stock shall be subscribed
and paid for.
Ali shares of stock shall be fully paid and non
accessible and transfers of stock shall not he bind
ing upon said Company unless recorded upon its
books of transit agents hereinafter provided for.
No stakeholder shall be held liable or response.
BILE for the contracts faults of said corporation
i'll any further sum than the unpaid balance due
on shares of stock owned by him. nor shall any
mere infOrmality in organization have the effect
of rendering this charter null or of exposing a
stakeholder to any liability beyond the amount of
his stock.
The subscription and stock books shall be kept
at the domicile. and in the Office of the Company
where certificates of stock shall be issued to the
subscribers and no transfer of stock shall be rec
ogniZed as valid and binding until the same is
made upon the stock books of the Company.
Stoekbooks shall be closed for the transfer of
stock (10) days before election.
All subscribers to stock and all who acquire
stock by purchase or otherwise shall be deemed
members of this Act of Incorporation
ARTICLE v.
The corporate powers of said Corporation shall
be vested in and exercised, and the business and
affairs of this Corporation shall be managed and
conducted by a Board of Directors composed of
80 Five stock hoders.
Said Directors shall be elected annually on
Thursday after the first Wednesday in February
hold
ers at regular or at any special meeting may fix,
and all such elections shall be by ballot.
OF each election ten (l0) days prior notice shall
be given in newspaper published in the City of
New Iberia and the Directors thus elected shall
until their successors shall have been elect
ed A maj ority of the votes cast shall elect, and
each share of stock shall be entitled to one vote,
either in person or by proxy.
failure to elect Directors on the day required
shall not dissolve the Corporation, but the then
Board of Directors shall continue to hold their of
fee and another election shall be held within
thirty 900 days thereafter aud ten days prior no.
tice shall be given in a newspaper published in
the City of New Iberia.
Any vacancy occurring in the Board of Directors
from any cause whatever shall be filled by election
by the remaining directors. Three (3) Directors
shall constitute quorum for the transaction of
business.
The Board of Directors at their first meeting in
each year shall elect one of their own number a
president and vice president, and shall also elect
Secretary and Treasurer, but the same person
may hold the offices of both Secretary and Treas
urer and shall appoint from time to time, such
officers, clerks. tagents and confer power to APP
point same and other employees as may be deem
ed necessary for the business and purposes of said
Corporation, and dismiss the same at pleasure
and shall have full power to make and establish
as well as change or amend or alter conformably
to this Act of Incorporation, all bylaws, rules
and regulations deemed requisite for the support
and management of the affairs and business of
said corporation, and it shall have full power to
borrow money execute mortgages. issue bonds
make contracts, make rnles for declaration of di
vidends and genNally, to do all things and act in
all matters pertinent to the objects and purposes
of this Corporation, also to issue and deliver
full paid shares of this stock the bonds obi
cations of this Cooperation in payment for labor
done, or money or rights in property actually
received.
And any rule or bylaw is subject to repeal
modification of change by the holders of a majSr
ity of the took at any meeting of the company.
The notice of the annual meeting of the stock
holders may be given by publication as above
provided for, or, such notice may be given by
ten 0)days notice In writing to each stakeholder
of time and place of holding said annual election
which may be served by transmitting such notice
to him addressed through the mails to his last
known place of residence or business; provided,
that when all of the stockholders are present in
person or by prexy they may waive in writing
the notice and delay for such meeting, except in
eases where otherwise provided by law.
In voting for directors each stakeholder shall
be entitled to cast either In person by proxy
one vote for each share of stock owned by him
which shall have been standing in his name
the books of the company for at least ten days
prior to the date of said election.
The board of directors may establish transfer
agencies in financial centers to make trnnsfer of
stock of this Corporation and under such reason
able rule and regulations the board may esta
blsh Stock transfers on tae books of said trans
fer agents shall he deemed transferred on the
books of the company.
ARTICLE vi.
The following persons shall constitute the first
board of directors, to-wit: Chas. G. Henshaw,
Dr. George J. Sabatier. Henry Il. Smith, Gran
vile G. Laughlin and Walter J. Burke, and the
following shall be the officers of the Corporation
and shall serve until their successors are eleeet
ed: Chas. G. Henshaw President Walter j.
Burke Vice President; Jno. Broussard Treasurer;
Hy. j. Mead, Secretary.
ARTICLE VII,
Except as to the increase or decrease of the
capital stock which shall be done in the manner
and form required by law. this act of in Corpora
ton may be changed, modified or altered said
IL. u.xf.