The weekly Iberian. (New Iberia, La.) 1894-1946, 1906-04-07

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 other railways either within
or without the state OF Louisiana; tt
purchase or consolidate with othe,
railway companies organized unde,
the laws of Louisiana or of any othe,
state of the Union, and 10 acquire and
hold the stocks, bonds and securities
OF such other railway corporations: to
guarantee h g stocks bonds and
securities of such other railway cor
poration as this corporation may be in
tcrested IN to construct and maintain
passenger depots, freight yards and
warehouses and to permit the use oi
such depots as union depots; to con
struct or otherwise acquire and oper
ate steam ships and other vessles for
The carriage of freight and passengers
FOR hire; to construct own and operate
docks and warves for the landing Of
vessles and for the securing Of storing
and forwarding of freight and accomo
dation OF passengers; to establish and
operate telegraph amp telephone
lines to construct. or other
wise acquire, maintain and oper
ate canals for navigation and acquire
and hold stocks, bonds or other secu
rites Of other corporations owning
and operating such canals; and gener
ally to hold and exercise all such in
cidental powers and privileges as re
late to the objects herein set forth.
ARTICLE Nv.
The capital stock Of this corporation
is hereby declared to be the sum of
one million dollars ($l 900, 900. OO) di
vided into and represented by ten
thousand shares of the par value of
one hundred 100000 dollars each;
which stock shall be paid for in cash,
or on such ipstallments and after such
notices as the board Of directors may
ak. or may be issued in payment Of
labor or services rendered or property
actually received by the said corpora
ton.
In case Of the failure of any subscriber
to pay the installments demanded on
his stock, as required, the board of di
rectors shall have the option after
thirty 500 DAYS written notice to the
delinquent. Of forfeiting his stock
with all amounts previously paid
thereon, and no stockholder shall
have the right to vote while in default
for unpaid installments due on his
stock.
This corporation may begin its busf-
ness ard operations as soon as<<fve
thousand $1,000 dollars of itssEapital
stock shall be subscribed anapaid for.
All shares Of stock shflll be fully
paid and on-assessabIe eand transfers
of stock shall not @e binding upon
said company unIsss recorded upon its
books or upon TIE books Of transfer a
gents hereinafer provided for
No stoclholder shall be held liable
or respy6sible for the contracts or
faults6f said corporation in any fur
thsf sum than the unpaid balance due
81 shares Of stock owned by him;nor
Shall any mere informality in organi-
zation have the~ehect OF rendering
this chatter null or Of exposing q
stockhoider to any liability beyond
the amount Of his stock.
The Subscription and stock books
shall be kept at the dohicilc and in
the Office of the company where GER
tifcates of stock shallb issued to the
subscribers aud no. transfer of stock
shall be r. cognizefas valid and bind
ing until the sane is made upon the
stock books OF tIk company.
Stockbooks SHALL be closed for the.
transfer of stgek ten No) days before
All subscs sbers to stock and all who
acquire s4ck by purchase or other
wise shall lbe deemed members Of this
act ofintbrporation. of
ARTICL2V.
The corpogatspowers Of said corpor-
alton shall be vested in and exercised.
and the business and affairs Of this
CORPORATION shall be managed and con-
Quoted by a board Of directors com
posed of(5) Five stockholdsxs "a
Said directors shall BE eleccSl an
nually on Thursday. after the first
Wednesday in February Of each ear,
or such other day as the stockho ers
at regular or at anyspecial med ing
may fix. and al, such elections ball
be by ballot. III
Ofeach election teb b(lo) days5prior
notice shall be given In a newspaper
published in the City eE~A1ew Iberia
ani the directors thus elected shall
serve until theft successors shall have
been elected
Xm1se4ey of the votes cast shall
elect, and each share ofstOck shall be
entitled to one vote. either in person
or by proxy.
A failure to elect directors on the day
required shall not dissolve the corpor-
alton but the then board Of directors
shall continue TO hold their Oflice and
another election shall be held within
So-c 4, cxn~ sHI 20 40 90