The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-10-09

tons owning and operating sucl
canals to construct own and opcr.
ate urban and intcrurhan railway
with electric or other motive DOW.
J or and generally to hold and cxcr.
else all such incidental powers an,
privileges ~ relate to the object.
herein set forth:
ARTICLE Nv.
The capital stock of this cor
poration ia hereby declared to u.
the sum Of (2.OOO. O0O.0o) Two Mil
lion Dollars divided into and re.
: presented by twenty tho,san,
shares of the par value of On.
Hundred Dollars each, which stock
shall he paid for in cash. or Ons1cl
| ipstallments and after such notice.
az the Board of Directors may fix
or may be issued in payment al
labor or services rendered. o,
property actually received Nv In.
said corporation.
! In case of the failure Of any sub
scriber to pay the installments de
manded on his stock, as required
the Board of Directors shal
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 in default 70,
unpaid installments due on hi,
stock.
This corporation may begin it.
business and operations as soon a.
five thousand dollars of the capj-
tai stock shall be subscribed and
paid for.
| All shares of stock shall be fun,
paid and non asscssibIe and trans
fers OF stock shall not be binding
upon said Compap. unless record
ed On its books of transfer
! NO stakeholder shall be held lin
bic or responsible for the contract
or ta1lts 4 said corporation in any
'urther sum than the unpaid bal
an 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 a stockholde,
to any liability beyond the amount
OF his stock. The subscription aud
stock books shall be kept at the
domicile and in the office Of the
Company where certificates 81
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 he 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 af-
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 all
such elections shall be by 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. A
majority of the votes cast shall C.
Iect, and each share Of stock shall
be entitled to one vote either i'm
person or by proxy.
A failure to elect directors on
the day required shall not dissolve
the Corporation but the Board ~
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 a
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 a
president and 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
otner employees as may be deem
ed necessary for the business and
purposes OF said Corporation and
dismiss 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 il shall
nave full power to borrow none '.
execute mortgages, issue bonds,
maxi contracts, make rules for the
declaration Of dividends and gen.
orally to do all things and act in !
All matters pertinent to tn, OBJ |
lects ana purpose OF this corpor-
..tion, as also to issue and deliver
[uli 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 is subs
ect to repeal, modification or.
mango by the holders of major
tty OF the stock at any meeting of
he company.
The notice of the annual meet
ng OF the stockholders may be
,llven BY publication as above pro-
'ided for or such notice NAV be