New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-07-21
corporation shall be THE PEOPLES

corporation shall be THE PEOPLES
! DRUG COMPANY, LIMITED, AND
under said name it shall have and Ell
JOY corporate existence for n period OF
Ninety Nine Years from and after the
day and date Of this net. 1t shall
have the power to contract, to sue and
be sued. to make and use corporate
seal and the same to break and alter
at pleasure: to have, hold, aud re.
ceive. purchaes. sell. convey. lease
pledge, bond ,hypohthecate, and mort
gage property of any kind whether
real, personal, or mixed, corporenl OF
iucorporeal in or out of the State of
| Louisiana; to have and appoint such
| managers, directors, officers. and
agents ms its business may require
and to make and establish rs well rs
to alter and ahmed from time to time
such BY laws, Rules, and Regulations
for the proper management and gov
erument of the affairs of said corpora
tiou ms may he necessary and proper
land generally to possess all the powers
Hereinafter enumerated and that are
now or may hereafter be conferred by
law or necessary to promote it's objects
and interests
ARTICLE IL
Uhn TDiI Of t1,iu ion,
shall be III New Iberia, iberia Parish
Louisiana, where service of citations
and other legal process shall be made
upon the President of said corporation
or in case of his absence, upon the
Vice President or upon tho Secretary
of said corporation in the absence of
both of said former officers
ARTICLE Ill.
The object and purposes of this cor
poration are declared to be to estab-
lish and operate drug stores. to buy,
deal in, sell and compound drugs and
medicines and to make and manufac-
ture toilet articles and generally to
carry on the drug businesses incidental
and pertinent to the above Oh jects aud
purposes.
ARTICLE ".
The capital stock of this corpora
ion is hereby declared to be the sum
Of Twenty Five Thousand Dollars di-
vided into and represented by One
Thousand Shares of the par value of
Twenty Five Dollars each, which
stock shall be paid for in cash or in
such installments rs the Board of Di-
reCtors mry fix, or may be issued in
payment of labor or services rendered
or property transferred to the corpora
ton in the discretion of the Board of
Directors. In casa any of said CAPT
tai stock shall be issued for property
received the Board of Directors shall
first appraise said property and
such appraisement shall be final and
binding upon all stock holders. All
shares of stock shall be issued as full
paid and non -assessable and no trans |
fer of stock shall be binding upon the
unless recorded upon it's
books A I'll transfer of stock shall be |
signed by the stakeholder or his At
torney. Stock book shall be closed |
for the transfer of stock ten days be |
fore election No certificate of stock |
shall be issued until the same shall |
have been paid for in full Certif-
,ate of stock issued shall be signed by
'uch officers of this corporation/as the
Board of Directors may designate
,he books of the corporation If the
holder thereof is indebted to the cor.
until such debt shall have
been liquidated and paid. The CAPT
al stock may be increased or denim
shed as provided by law. This cor
,oration may commence business
when Five Thousand of its capital
hall have been subscribed and paid
or in full ~
ARTICLEV.
All the corporate powers of this
shall be vested in and ex-
rcised and the business and affairs
4 this corporation shall be managed
nd conducted by Board of Directors
of 7 stockholders each of
fhom must own at least Four Shares
majority of whom shall constitute
qurom in the transaction of bust
ess. Said directors shall be elected ,
t the annual meeting of tho stock
olders of this corporation to be held ,
n the first Tuesday in May of each
ear or at such times as may be neces- ,
,ry or convenient. All such election
hall be by ballot and conducted ut the :
flee of the corporation under the
1pervision of the President or in ,
ase of his absence or inability to act
nder the supervision of any other :
ffioer of the corporation and of such
lection written notice shall be mail
to each stock holder at his last ,
ost Office address recorded in the !,
ooks of the corporation No less I
ZEN fifteen days previous to the day =
such election. Each stakeholder 9
\ 81 n ~