The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-11-13

canals to construct own and Oper-
ate urban and interurban railways
with electric or other motive pow
er and generally to hold and exer-
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,O0o,OOO.OO) Two Mil
lion Dollars divided into and re-
presented by twenty thousand
shares OF the par value of One
Hundred Dollars each, which stock
shall be paid for in cash, or onsuch
installments and after such notices
as the Board Of Directors may 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 installments de-
handed on his stock, as required,
the Board of Directors shall
have the option after thirty DAYS
written notice to the delinquent, OF
FORGETTING the stock with all a
mounts 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
business and operations as soon az
five 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 stOckh0lder shall be held liza
BILE or responsible for the contracts
or faults of said corporation in any
further sum than the unpaid bal
ance due on shares of stock owned
BY him; nor shall any mere in
formality in organization have the
effect of rendering this Charter
null or OF exposing q stakeholder
to any liability beyond the amount
| OF his stock. The subscription and
stock books shall be kept at the
d0micile and in the office of the
Company where certificates OF
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. Stock books shall be clos
ed for the transfer of stock ten
days before election.
All subscribers to stock and all
who should acquire stock by pur-
chase or otherwise shall be deem
ed members of this act of incorpor-
| alton.
ARTICLE v,
The corporate powers OF said
corporation shall be vested in and
exercised and the business and az
fairs of this corporation shall be
managed and conducted by a Board
of Directors composed of seven
members.
Said directors shall be elected
annually on the first Monday OF
May, or such other day as the
stockholders at a regular or any
special meeting may Fix, and ali
such elections shall be by ballot.
OF each election ten days prio,
notice shall be given in 4 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. A
majority of the votes cast shall e.
lect, and each share of stock shall
be entitled to one vote either In
person or by proxy.
/ A fai0,.r0 - n1ocA Is.~nkn.~ -
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 a 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 bust
ness.
The Board Of Directors at the
first meeting in each year shall e.
lect from their own number q
president and q first, and second
vice president, and also shall elect
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 40 may be deem
led necessary for the business and
purposes Of said Corporation and
dismiss the same 1t pleasure, and
shall have full power to make and
establish % well ~ change or q
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 Il shall
have full power to borrow money,
execute mortgages, issue bonds,
make contracts, make rules for the
declaration Of dividends and gem
orally to do MI things and act in
al matters pertinent to the OBJ
jects and purposes Of this corpor-
alton, - also to issue and deliver
full paid shares Of this stock or the
bonds or obligations OF this Cor
poration In payment for labor done,
or money, or rights in property
actually received.
And any rule or bylaw 10 SUBJ
ject to repeal, modification or
change BY the holders OF maiOr-
ity q the stock ct any meeting Of
the company.
The notice Of the annual meet
Ing Of the stockholders may be
given by publication 40 above pro-
vfded for or such notice may be