New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-04-14

such point or points In Atber states as NAV ba
hereafter determined u Nm with all necessary
spurs sldetraeks, swiNhes, turnouts. water
tanks sand and gravel ttits stations station
houses yards, depots, warehouses grain eleva.
tors, cotton congresses tbundhouses sheds coal
chutes, warehouses, platforms ferries bridges
and all other accessories, adiuncts and appur.
tenanees necessary proper and convenient for
the operation of said line of railways to locate
construct or otherwise acquire and operate with
all necessary accessories adiunets 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 and 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
mud 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 lahorers or
contractors of work to obtain, accept ar 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
ton, maintenance, management or use of its
transportation lines, their depots, wharves,
shops cars, locomotives and general business
which the same may choose To grEnt release to
or otherwise confer or give to borrow money or
to purchase or lease property on its own credit
for the purpose of constructing maintaining and
operating the liues of transportation and tele
graph; aud, as evidence Of Indebtedness of this
corporation Tor SncH loans or the purchase or
lease of said property, to issue its corporate
bonds, or promissOry note, bearing interest and
made payable either in United States currency or
gold coin and AT such time and place may he
approved by the directors and for securing the
payment Of said bonds or notes to mortgage and
pledge its railroad, capital stock, company
buildings, corporate franchises and mmnnitics,
real ~ personal property, or any portion of the
same; to lease or sell its lines of railway in
whole or in part 10 other companies to lease 9th
err railways either within or without the state of
I.p41i IA bug
railway companies organized under the laws of
Louisiana or of any other state of the Union. and
TO acquire and hold the stocks, bonds and secure
ties Of such other railway corporations; to guar
antee the stocks, bonds aud securities of such
other railway corporation us this Corporation
may he Interested in; to construct aud maintain
passenger depots, freight yards aud warehouses
aud to permit the use of such depots as union
depots, to construct or otherwise acquire and
operate steamships and other vessels for the
carriage of freight and passengers for hire; to
construct. own and operate docks and wharves
for the landing of vessels and for the securing of
storing and forwarding OF freight and accomoda
tiOn ut passengers, to establish aud operate tele
graph and telephone lines tn construct OF other
wise acquire, maintain and operate canals for
navigate Ii and to acquire and hold stocks, bonds
or other securities of other corporations owning
and operating such canals and generally to hold
aud exercise all such incidental powers and priv
ileges as relate to the objects herein set forth.
ARTICLE "
The capital stock IF this Corporation is hereby
declared to be the of One Million Dollars,
81 600, 600 oD) divided into and represented by
ten thousand shares of the par value One Hun
dred (TlaooOl Dollars each which stock shall
be paid for in cash, or on such installments and
after such notices 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 nstalments demanded On his stork as re
qured, the board of directors shall have the op
tion after thirty t3ol days written notice to the
delinquent, of forfeitine his stock with all
amounts previously paid thereon, and No stock
holder shall have the right to vote white in de
fault fnr unpaid nstallmeuts due Oh his stock.
This Corporation may begin its business and
operations as soon rs Five Thousand tSh 900 ool
Dollars of its capital stock shall he subscribed
and paid for.
Ali shares Of stock shall be fully paid md non
assessihle and transfers of stock shall not be bind
ing uppn said Company unless recorded upon its
books of transfer agents hereinafter provided for
No stakeholder shall be held liable or RESPONSE
BILE for the contracts ar faults OF said corporation
in 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 t" any liability beyond the amount of
his stock.
The subscription and stock books shall he kept
at the dCmice aud in the Office of the Company
where certificates of stock shall he issued to the
subscribers and n" transfer of stock shall be rec
ugnized valid and binding until the same is
made upon the stock books of the Company
Stockbooks shall he closed for the transfer of
stock (lol days before election.
All subscribers to stock and all who acquire
stock by purrh -e otherwise shall he deemed
members of this Act of Incorporation.
ARTICLE V.
The corporate powers of said Corporation shall
be vested in and exercised, and the business aud
affairs of this Corporation shall be managed and |
conducted by a Board of Directors composed of |
90 Five stockholders.
Said Directors shall he elected annually on |
Thursday after the first Wednesday in February |
of each year. such other day as the stoekhod |
era ut q regular or at any special meeting may fix,
and all such elections shall be by ballot
OF each election ten ti0l days prior notice shall
be given in a newspaper published in the City of
New iberia and the Directors thus elected shall
serve until their successors shall have been elect
ed A majority of the votes cast shall elect and
each share of stock shall be entitled 10 one vote,
either in person by proxy
failure to elect Directors on the day required
shall not dissolve the Corporation, but the then
Board of Directors shall continue TO bold their of
fee and another election shall be sbeld within
thirty 800 days thereafter aud ten days prior no.
tice shall be given in 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 81 Directors
shall constitute quorum for the transaction OF
The Board of Directors at their first meeting in
each year shall elect one OF their ewn number n
president and vice president and shall also elect
a Secretary and Treasurer, but the same person
may hold the Offices of both Secretary and Treas
nrer, and shall appoint from time TO time. such
l1lcerSi CLERKS agents ana confer power to APP
point same and other employees may be deem
I'd necessary for the business and purposes of said
Corporation, and dismiss the same at pleasure
aud shall have full power to make and establish
as well as ehange-or amend or alter eonforinaby
10 this Act of Incorporation, all bylaws rules
md regulations deemed requisite for the support
md management of the affairs and business of
'aid corporation, and ii shall have full power TO
borrow money, execute mortgages. issue bonds
make contracts, make rules for declaration of di-
Tidends and generally, TO do all things and act in
III matters pertinent to the objects and purposes
# this Corporation, also to issue aud deliver
ul paid shares of this stock the bonds or obi
cations of this Cooperation in payment for labor
lone, or money or rights in property actually
ereived
Aud any rule or law is subject to repeal ,
Modification of change by the holders of major.
ty of the tuek at any meeting of the company
The notice of the annual meeting of the stock
olders may be given by publication above !
provided for, or, such notice may be given by ,
enH0)days notice In writing to eaeh stakeholder |
4 time and place of holding said annual election, |
which may be served by transmitting such notice | 6
o him addressed through the maiis to his last =
nown place OF residence or business; provided | !
hat when all of the stockholders are present ia
nv fhnV tnax In, trrigt l.