New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-11-26

use q corporate seal and the same to
break or alter at pleasure; to hold, re-
ceive, release, purchase and convey, as
we'll as mortgage, pledge and hypothecate
real, personal and mixed, cor
poreal and incorporeal; to came and ap-
point such managers, agents, directors
and officers as its business interests and
convenience may require, and to make
aud est ablish, as well as alter and amend
from time to time such bylaws, rules
aud regulations for the proper government
of the affairs of the said corporation rs
may bs necessary and proper.
ARTICLE 2.
The domicile of the said corporation
shall be ut Avery Island, in the Parish of
Iberia. st ate of Louisiana, and all citations
or other legal process shall be served up
on the President of the said corporation,
or in the event of his absence, upon the
secretary of said corporation.
ARTICLES.
The objects and purposes for which this
corporation is established and the nature
of the business to be carried on by 1t are
hereby declared and specified to be.
To purchase and own mining lands in
the State of Louisiana and elsewhere, and
minerals underlying such lands, with the
right of mining and removing same. and
TO open ana work mines OF all sorts, and
in general to do and perform all such acts
As may bs germsne to the general pur-
poses hereinabovs declared.
ARTICLE 4.
The capital stock of the said corpora
ton is hereby fixed ct the sum CT One
Hundred Thousand ($l0O, 1000 00) Dollars
to b. divided into and lepI esented by one
Thousand UO0O) shares of stock OF the
par value of One Hundred ($lO0. Dollars
each, Said stock shall be paid for in cash
at such time and in such amounts and
after such NOTICES to the subscribers as
may be fixed by the Board of Directors.
or the same may be issued for labor done,
services rendered or money or property &C,
tually received or purchased by the said
corporation upon such terms and in such
amounts and at such times as may be
prescribed by the Board Of Directors. The
corporation shall become going concern
and shall be authorized to commence bust
ness a soon ~ seven hundred and fifty
t75O) shares of the said capital stock
SHALL nave uceu S4uscIlOou Aoi'
ARTICLE 5.
All the corporate powers OF the said
corporation shall be vested in aud exer-
cised by a Board Of Directors to be com
posed Of three persons to be elected ann
ually on the second Tuesday of January Of
each year, except the first Board Of Di'
rectors named in this Charter, who shall
hold their offices until the 18th day Of Jan
uary, 1912, OF until their successors are
elected and qualified.
| All such elections for Directors shall be
by ballot aud conducted 1t the office OF
the CORPORATION under the supervision OF
two Commissioners to be appointed BY
the Board vi Directors. No'ice of such
election shall be given not less than ten
DAYS prior to such election by written OF
printed notice to be mailed to each stock
holder ct his usual place of residence.
| Every stakeholder shall be entitled to
one vote for each share of stock standing
in bis name on the books OF the Company
to be east either in person or by proxy
and the majority of the votes cast shal
elect.
| Any vacancy occurring among tho Di
rectors by death, resignation or otherwise
may DO filled by election for the remain
der of the term of the Board by the re-
naming Directors.
The failure to elect Directors on tbs
date above specified shall not desolve the
corporation, but the Directors then in Of
ice shall remain in Off - until their sue
SCISSORS are elected and qualified, anc
shall cause another election to be held Al
SOON o. practicable thereafter after notice
shall be given - above provided.
| Each Director shall be entitled to vote
1t meetings Of the Board either in person
or by proxy. and majority Of the Roart
of Directors present either in person o.
transaction of business.
The first Board of Directors named in
this Charter and such Boards a. may b
thereafter elected in accordance herewith
shall be elected from their own number I
President, and they shall also elect th'
secretary who may or may not be mem
Der Of the Bosrd. The Board Of Direc
tors shall have power to- elect the sam'
person to fir two or more Of the office
Aboye provided.
The said Board may make and estab
lish, as we'll as alter and amend, any ant
al bylaws, rules and regulations nepes
ssry and proper fr the conduct ant
management Of the business and affair
Of the said corporation, and the SAT-
Board shall have full power and authorit.
to borrow money, execute mortgages AM
create liens, issue notes, bonds OF othe
obligations, and generally to do all thing
reasonable or necessary for the prope
carrying on of the business OF the sal
corporation, and also, ~ above provided
to issue and deliver the fully paid share
Of stock for cash, or in payment Of lsbo
done OF services rendered Of property act
| paily received, upon such termS and cor
ditiops a. it may 'eee #.
ARTICLE 6.
| A. the expiration Of this Charter, or il
the event OF the prior dissolution OF tn
corporation, 1t shall be liquidated by tw
commissioners to be elected by the Boar
Of Dire etors, which said commissioner
need not necessarily be stockholders
and the said commissioners shal
have full power to sell oil tho asset
Of the property, both real and personal Q
the corporation, and to convey full an
compelste title thereto aud to do all act
| essential or proper TO . full and connplet
liquidation q III affairs and distribution
ofths proceeds, il any, among the sfocl
holders,
ARTICLE 7.
No transfers of stock shall BE- admitte
or held to Be valid and binding 20 far 4
the Company 10 concerned unless made o.
the books of the Company, and no sale o
transfer shall b valid in any event un
less and until sixty days notice shall b
given to the President Of the Company
whose duty it shall be to notify all stock
holders, who within the said period Q
fsixty days shall have the privilege, il
proper ion to their respective holdings o
5teGk, to bpy tbs stock proposed to b
sold Il che price bona 6de bid foF ~
same, or ct the current market price. pro
vided that the sboye Limitation upon tn
right Of alienation shall not apply to
sale or transfer FROM one stockholder Il
| anothap sfoekholder. and proyidod furthe