The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-11-20
CHARTER Of the
new |BERIA-ST. MARY & EASTERN R. R. CO.

other securities OF other corpora
tons owning and operating such
canals to construct own and oper-
ate urban and interurban RAILWAYS
with electric or other motive pow
err and generally to hold and eyer-
else all such incidental powers and
privileges as relate to the objects
herein set forth:
ARTICLE Nv.
The capital stock OF this cor
Poration is hereby declared to be
the sum OF (2,0O0,00 .0M Two Mil
lion Dollars divided into and re-
presented by twenty thousand
SHARES OF the par value OF One
Hundred Dollars each, which stock
shai' be paid for in cash. or onsuch
installments and after such notices
as the Board of Directors NAV fix.
or may be issued in payment of
labor or services rendered. Or
property actually received by the
said corporation.
In case Of the failure Of any sub
scriber to pay the instalIments de-
manded on his stock, as renu;red.
the Board Of Directors shall
have the option after thirty davs
written notice to the delinquent. of
FORGETTING the stock with All a.
mounts previously paid thereon.
and no stakeholder shall have the
right to vote while i'm default for
unpaid installments due on his
| stock.
| This corporation may begin it's
business and operations az soon az
live thousand dollars Of the capi-
tai stock shall be subscribed and
paid for.
| All shares of stock shall be fully
paid and non assessible and trans
fers OF stock shall not be binding
upon said Company unless record
ed upon its books of transfer.
| NO stakeholder shall be held LA
BILE or responsible for the contracts
or faults Of said corporation in any
iurther sum than the unpaid bal
ance due on shares OF stock owned
~ him; nor shall any mere in
formaIity in organization have the
effect of rendering this Charter
nun 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 Or
stock shall be issued to the sub
scribers and no transfer of stock
shall be recognized as valid and
binding until the same is made up-
on the stockbooks OF the Com
pany. Stockbooks shall he clos
ed for the transfer of stock ten
days before election.
All subscribers to stock and All
who should acquire stock bv pur-
chase or otherwise shall be deem
ed members Of this act OF incorpor-
alton. 0
ARTICLE v.
The corporate powers OF said
corporation shall be vested i'm and
exercised and the business and ar
fairs OF this corporation shall be
managed and conducted by Board
OF Directors composed of seven
members.
Said directors shall be elerte ed
annually on the first Monday of
May, or such other day as the
stockholders at a regular or anv
special meeting may fix, and all
such elections shall he bv ballot.
OF each election ten days prior
notice shall be given in news
paper published in the City of New
Iberia and the directors thus elect |
ed shall serve until their success
sors shall have been elected AL
majority of the votes cast shall O.
lect, and each share OF stock 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 Corporation but the Board of |
Directors shall continue to hold |
their office and another election |
shall be held within thirty DAYS
thereafter, and ten days prior no
tice shall be given in newspaper
published in New Iberia, La.
Any vacancy occurring in the
Board OF Directors from any cause
whatever shall be filled by cleo
ton by the remaining Directors.
Five Directors shall constitute q
quorum for the transaction of busi-
ness.
The Board of Directors at the
first meeting in each year shall e.
lect from their own number q
president and first, and second
vice president, and also shall elect
a Secretary and Treasurer, but the
same person may hold the office
Of secretary and treasurer; and
shall appoint from time to time
such officers clerks, agents and
confer power to appoint same and
other employees as may be deem
ed necessary for the business and
purposes of said Corporation and
nismiss the same at pleasure, and
shall have full power to make and
establish as well as change or a.
mend or alter cOnformably to this ,
Act OF incorporation, all bylaws,
rules and regulations deemed re-
quisite for the control and man
agement of the affairs and business .
of said corporation, and it shall .
nave full power to borrow money. !
execute mortgages, issue bonds. ,
make contracts, make rules for the ,
Of dividends and gen. ,
orally to do all things and act in /;
III matters pertinent to the OBJ
ects and purposes OF this corpor-
ltion, ~ also to issue and deliver
uiI paid shares of this stock or the
'0nde or obligations Of this Cor \
'0ration In payment for labor done. 9
. money, or rights in property !
lctually received.
AND any rule or bylaw is sub :
ect to repeal, modification or y
mango by the holders OF a major g
" 81 the stock at any meeting of Z
he company.
The notice Of the annual meet 9
IS Of the stockholders may be =
iven BY publication az above pro- =
ided for or anch nnfine mav hn "a