The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-09-18

a
: passenger depots, freight varc
and Warehouses and to permit tn
use OF such depots as union dc
pots; to construct or otherwise ac
qulre and operate steamships an
other vessels for the carriage z
! freight and passengers for hire t
{ construct own and operate dock
and Wharves for the LANDING n
+ vessels and for the securing. stor
, ing and for Warding of freight an
accommodation Of passengers; t
establish and operate telegraph an,
telephone lines, to construct q
otherwise acquire, maintain and Oh
crate canals for navigation and t,
acquire and hold stocks, bonds o
other securities of other CORPORA
tlons owning and operating sucl
canals TO construct own and oper
ate urban and interurban railway,
win electric or Other motive pow
er and gen rally to hold and ever
cise all such incidental powers ant
privileges as relate to the object.
herein set forth:
ARTICLE ".
The capital stock of this cor
poration is hereby declared to be
the sum of (2,oOO,OOO.O0) 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 NAV fix.
or may be issued in pavment of
labor or services rendered, or
property actually received by the
sad corporation.
In case of the failure of any sub
scriber to pay the installments de-
manded on his stock, as reauired
the Board OF Directors shall
have the option after thirty days
written notice to the delinquent, of
forfeiting 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.
Ihls corporation may begin its
business and operations as soon as
i've thousand dollars of the capi-
tai stock shall be subscribed and
paid for.
All shares of stock shall be fully
pad and non assessible and trans
fers OF stock shall not be binding
upon said Company unless record,
ed uponsits books of transfer.
No stOckhOlder shall be held liza
bic or responsible for the contracts
or faults of said corporation in any
further sum than the unpaid bal |
ch of ~
by him; nor shall any mere in
formality in organization have the !
effect of rendering this Charter
null or OF exposing a stOckholder
to any liability beyond the amount
Of his stock. The subscription and
stock books shall be kept at the
iomicile and in the office of the
-ompany where certificates of
stock shall be issued to the sub
'cribers and no transfer of stock
shall be recognized as valid and
until the same il made up
IN the stockbooks of the Com
)any. tockbooks shall be clos
"a for the transfer of stock ten
lays before election.
All subscribers to stock and all
Who should acquire stock by pur-
hase or otherwise shall be deem |
q members of this act of incorpor-
tion.
ARTICLE V. :
The corporate powers of said l
shall be vested in and
xercised and the business and af-
airs of this corporation shall be
lanaged and conducted by Board
I Directors composed of eleven a
lembers. a
Said directors shall be elected h
nnually on the first Monday of
lay, or such other day as the
tockholders at regular or any
peciaf meeting may fix, and all
lch elections shall be by ballot.
Of each election ten days prior
Office shall be given in a news
aper published in the City of New
oeria and the directors thus elect
l shall serve until their success
)rs shall have been elected. A
ajOrity Of the votes cast shall e.
ct, and each share OF stock shall 2
? entitled to one vote either in =
erson or by proxy. "
A failure to elect directors on u
le day required shall not dissolve RI
le Corporation but the Board of :.
irectors shall continue to hold Il
leir office and another election "
lall be held within thirty days :,
lereafter, and ten days prior no 1
ce shall be given in a newspaper q
lblished in New Iberia, La.
Any vacancy occurring in the Y
oard of Directors from any cause 7
hatever shall be filled by cleo
ON by the remaining Directors. a.
Six Directors shall constitute 4
forum for the transaction of busi-
,ss.
The Board of Directors at the -,
st meeting in each year shall e. =
ct one of their own number a I'll
and first, and second o.
ce president, and also shall elect .
Secretary and Treasurer, but the al
me person may hold the office .,
secretary and treasurer; and o.
all appoint from time to time
ch officers clerks, agents and
nfer power to appoint same and b.
her employees as may be deem w
necessary for the business and nt
rposes of said Corporation and a
smiss the same at pleasure, and Pj
all have full power to make and vi
tablish as well as change or a rh
End or alter conformably to this tr
of incorporation, all bylaws, pa
les and regulations deemed re- bl
isite for the support and man.
ement of the affairs and business
said corporation, and it shall n