The weekly Iberian. (New Iberia, La.) 1894-1946, 1907-04-13


each, which stock shall be paid for il
cash, or on such installmen,s and If
ter such notices as the board OF direc
tors may fix, or may be issued in pay
ment Of labor or services rendered. OF
property actually received BY the SAID
corporation.
Ia case Of the failure Of any sub
~crii,er to pay the installments de-
manGed on HIS stock, AS required, the
board Of directors shall have the op-
ton after thirty days written notice to
the delinquent, Of FORGETTING his stock
with all amounts previously paid
thereon. and no stakeholder shall have
: the right to vote while in default for
unpaid Installments due on his stock
This corporation may begin its bust
ness and operations as soon as five
thousand dollars OF the capital stock
shall De subscribed and paid for.
All shares Of stock shall lie fully paid
and non assessable and transfers Of
stock shall not be binding upon said
company unless recorded upon its
books OF transfer.
No stockhOlder shall be held liable
or responsible for the contracts or
faults OF said corporation in any fur
ther sum than the unpaid balance due
on shares OF stock owned by him; nor
shall any mere inform ty in organi.
zation haye the effect Of rendering
this charter null or Of exposing stock
holder to any liability beyond the
amount Of his stock. The subscription
and stock-books shall be kept at the
domlcile and in the Office of the com.
pany where certificates of stock shall
be issued to the subscribers. and
no transfer Of stock shall be rec
ognized as valid and binding nm
til the same ia made upon the
stock books of the company. Stock
books shall be closed for the transfer
of stock ten days before election.
III 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 cor
poration shall be vested in and exer- |
cised, and the business and affairs of |
this corporation shall be managed and
conducted BY board OF directors COM |
posed of fourteen (l4) stockholders. !!
Said directors shall be elected annu- !
ally on the first Monday of May or
such other day as the stockholders at |
a regular or any special meeting may
fix, and all such elections shall be by
ballot.
OF each election ten days prior no.
tice 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;elected. A majority of the votes
cast shall elect, and each share Of stock
shall be entitled to one vote, either in
person or by proxy.
A failure to elect directors en- the
day required shall not dissolve the
but the then board Of direc.
tors shall continue to hold their Office
and another election shall be held with
in thirty days thereafter, :and ten days
prior notice shall be given in q news
paper published in New iberia. La.
Any vacancy occurring in the board
OF directors from any cause whatever
shall be filled by election by the 81
directors. Nine (9) directors
shall constitute quorum for the trans |
action of business.
The board of directors at the first 4
meetingin each year shall elect one Of ,
their own number q president and q !.
AAaCVs CSSOou 0ou tAAA0 ISC-RB GOiOO0Us IL
and shall also elect q secretary and
treasurer, but the same person may
hold the office of secretary and treas /,
urer. and shall sppoint from time to
time such officers, clerks, agents and
confer pow err to appoint same and 9TH
er employees as may be deemed neces.
sary' for the business and purposes of ID
said corporation, and dismiss the same
1t pleasure, and shall have full power |
% make and establish as we'll ~ [
change or amend or alter c0nformably Ia
o this act of Incorporation, all bylaws, q
ules and regulations deemed requisite
or the support and management Of the
lffairs and business of said corpora
ion, and it shall have full power to In
borrow money, execute mortgages, II.
ue bonds, make contracts, make rules
or declaration of dividends and gen 6
rally to do all things and act in all q
matters pertinent to the objects and Z
of this corporation, ~ also
. issue and deliver full paid shares OF
his stock or the bonds or obligations {.
I this corporation IN payment for II. I
or done, or money, or rights in pro- n
'ertv actually received. r.
And any rule or bylaw il subject to =
epeal, modification or change BY the e
lolders Of majority Of the stock at Il
ny meeting of the company. liz
The notice Of the annual meeting of
he stockholders may be given BY pub
cation as above provided for. or. such :
otice NAV be given by ten days no. -
&c In writing to each stockhotder Of 70
le time and place Of holding said IN. tC
nal election, which NAV lie served bv =,
such notice to him ad-
'essed through the mails to his last -
Town place Of residence or business:
divided, that when all of the stock. 70
'lders are present in person or by nr
oxy they may waive in writing the =:
'tice and delay for such meeting, ex. -
ut in cases where otherwise pfOvld. re-
by law.
In voting for directors each stock.
'lder shall be entitled to cast either -.
person or by proxy, one vote for
ca share of stock owned by him
itch shall have been standing in his
me on the books Of the company for
least ten days prior to the date Of
ID election. q,
The board OF directors may establish
nsfer agencies IN financial centers
make transfer of stock Of this cor
ration and under such reasonable "a,
es and regulations as the board may ''
ablish. Stock transfers on the
,ks Of said transfer agents shall be
.med transferred on the books OF
company. =
ARTICLE vi. den
he following persons shall copsti- trat
3 the first board OF directors, to-wit: DER
NJ. WeIah. JmIes Drov6n. n Hot
- - aim,