The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-11-06
CHARTER of the
new IbERIA-ST. MARY & EASTERN R, R, co.

tions 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 exer-
else all such incidental powers and
privileges as relate TO the objects
herein set forth:
ARTICLE IN.
The capital stock Of this cor
poration is hereby declared to be
the sum of (2,0O0,0OO.OM Two Mil
lion Dollars divided into and re-
presented by twenty thousand
shares of the par value of One
hundred Dollars each, which stock
sha-l 70 pc i for in cash, or onsucl
lnstailmcEts and after sucn 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 installments de-
mandcd on his stock, as required
the Board of Directors shall
nave the option after thirty DAYS
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 for
unpaid installments due on his
stock.
Ihis corporation may begin its
business and operations as soon as
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 stakeholder shall be held La
bic 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
fornality in organization have the
effect of rendering this Charter
null or OF exposing a stock holder
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 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 stock books of the Com
pany. Stockbooks 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 af-
fairs of this corporation shall be
and conducted by a Board
OF Directors composed of seven
Said directors shall be elected
on the first Monday of
May, CT such other day as the
stockholders at 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
eel shall serve until their success
sors shall have been elected. Al
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 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.
tee shall be given in a newspaper
published in New Iberia, La.
Any vacancy occurring in the
Board OF Directors from any cause
whatever shall Re filled by cleo
ion py the remaining Directors.
Five Di actors shall constitute a |
tuorum for the transaction of BUSH
Tess
The Board Of Directors at the
irst meeting in each year shall e.
ect from their own number a |
PRESIDENT and first, and second |
ice president, and also shall elect |
! Secretary and Treasurer, but the |
anne person may hold the office |
# secretary and treasurer; and I
hall appoint from time to time |
UGH officers clerks, agents and
Onfer power to appoint same and
'ther employees as may be deem
d necessary for the business and
purposes of said Corporation and
ismiss the same at pleasure, and
hall have full power to make and
stablish as well as change or a.
1end or alter conformably to this
ct Of incorporation, all bylaws,
ules and regulations deemed re-
uisite for the control and man.
cement of the affairs and business
I said corporation, and it shall
ave full power to borrow money,
xccute mortgages, issue bonds,
lake contracts, make rules for the
eclaration of dividends and gen.
rally to do all things and act in
II matters pertinent to the OBJ
let's and purposes of this corpor-
ton, AS also to issue and deliver
Ill paid shares of this stock or the
oEds or obligations of this Cor
Grafton in payment for labor done,
r money, or rights in property
ctually received.
And any rule Or bylaw is sub
ct to repeal, modification or
1ange by the holders of a major
y of the stock at any meeting of
le company.
The notice of the annual meet
g OF the stockholders may be
wen by publication as above pro-