New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-04-09

one thousand (l,OOO) shares Of the
par value OF one hundred ($lUU)
dollars each. which shall be paid
for IN cash, or in the purchase OF
property: All shares OF stock
shall be full paid and nJn-asses-
sibIe. No transfer OF stock Shall
be recognized or be binding upon
the company's books, unless made
pursuant TO It's bylaws and re-
corded upon the books CT the
company. This corporation shall
become a gong concern as soon
as fifty thousand ($50,0OU) dollars
Of It's Capital Stock shall have
been subscribed ana paid for.
Article V.
All the corporate powers OF this
corporation n lie management
and control Is affairs shall
be vested in AID exercised by a
Board Of Directors, composed of
stock holders, the MAJ Jorlty OF
whom shall constitute a quorum
for the transaction Of its business.
The said Board shall be elected
upon the second Monday OF Feb
ruary Of each year, and shall, i'm
mediately after their election, elect
from their number a President,
Vice President and Secretary
Treasurer. Each stakeholder
shall be entitled in person or by
proxy to one vote on every share
owned by him, and such election
shall be held under the rules and
regulations as shall be provided
for by the Board Of Directors.
The said Board of Directors shall
continue in office for one%year,
and until their successors 3shall
have been duly elected and quail
flied, and any failure to elect shall
not be regarded a a forfeiture OF
this Charter. Five Directors
shall constitute quorum. Any
vacancy occurring on said Board
shall be filled by the remaining
Directors for the unexpired term.
And said Board shall have the
right to appoint and dismiss any
clerks or other employees of the
corporation as it may seem fit and
expedient for the proper manage
ment and control of said bust
ness. Any Of the Directors shall
have the right to appoint another
stockholder as his proxy to at
tend any and all meetings OF said
Directors.
Article vi.
This act Of Incorporation may be
changed, modified or altered or
this corporation may be dissolved
with the assent of ihree-fourths
of the stock present or represent
ed, at the general meeting con-
vened for that purpose and after
at least ten days written notice
shall have been given through
mail addressed to each stockhold-
ers at the last known place of res
idence.
Article VIII.
No stockholder shall ever be
held liable to responsible for the
conracts. faults or debts Of said
corporations, nor shall any mere
informality in its organization
have the effect of rendering this
charter null or of exposing the
stockholders to any liability be-
yond the unpaid balance due on
the shares Of stock subscribed for
by him.
Article VIII.
In case of dissolution of this
corporation, by The expiration of
this Charter or otherwise, the
shall elect three liq-
uidators who shall have full au-
thority 10 wind up its affairs. In
the event Of he death or disabil-
ity of any one said commission
ers, the survivors or remaining Diq-
uidators hall appoint successor
to him.
Until the election to be held in
February 1910, the following
named persons shall constitute the
first Board of Directors:
FL. N. Pharr, President.
Don Caffery, Vice President.
Jos. e. Burguieres, Secretary
Treasurer.
Louis S. Clarke, j. M. Bur
guieres, John NJ. Caffery, E. A.
Pharr, L. L. Clarke and j. A.
Pharr.
Thus done and passed in my Of
flee in the Parish of iberia, Safe
of Louisiana, on the day, month
and year first above mentioned in
the presence of Porteus R. Burke
and S. c. Sumnall. competent wit
nesses, who have signed with ap-
pearer and me, Notary. after due
of the whole.
Originally Signed.)
j. A. PHARR, $50 shares.
e. A .PHARR, $50 shares.
Fl. N. PHARR, 80 shares
DONELSON CAFFERY,
BY III. N. Pharr, 200 shares.
i. e. BURGUIRES,
BY H. N. Pharr. 100 shares.