New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-11-05

use a corporate seal and the Same to
break or alter at pleasure; 10 hold, re-
ceive, release. purchase and convey, as
well as mort gage, pledge and hypotheoate
property. real, personal and mixed, cor
poreal and incorporeal; TO rame and ap-
point such managers, agents, directors
and officers as it's business interests and
convenience may require, and to make
and est ablish, rs we'll as alter and amend
from time to time such bylaws, rules
aud regulations forth proper government
of the affairs of the said corporation a.
may be 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
corp ration If est ablished and the nature
Of the business to be carried on by it ale
he eby declared and specified to be.
To purchase and own mining lands in
the 81 ate OF Louisiana and elsewhere, and
minerals underlying such lands, with the
RICH, of mining and removing same. and
TO open and york mines or all sorts, and
10 general to do and perform all such acts
rs may be germsne I" The general rIr-
poses hereinabove d. claGed.
ARTICLES.
The capital stock of The said corpora
ton is hereby fixed at the sum Ct One
Hundred Thousand t$l00, 900 00) Dollars
10 be divided into and represented by one
thousand (l0cuJ shares of stock Of the
par value of Ooc Hundred ($l00. Dollars
each. Said stock shal. be paid for In cash
at such time an IL such amounts and
after such motto % the subscribers as
may be fixed by the Board of Directors,
services rendered or money or property ac
tually received or purchased by the said
corporation upon such terms and in such
amounts and at such times AZ may be
prescribed by the Board Of Directors. The
corporation shall become going concern
and shall be authorized to commence bust
ness as soon as seven hundred and fifty
$3.50 shares of the said capital stock
shall have been subscribed Tor.
ARTICLE 5.
All the corporate powers OF the said
corporation shall be vested in and exer
cised by Board of Directors to Do 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, or until their successors are
elected and qualified.
All such elections for Directors shall be
by ballot and conducted at the office of
the CORPORATION under the supervision of
two Commissioners to be appointed by
the Board of Directors. Notice of such
election shall be given not less than ten
days prior to snch election by written or
printed notice to be ma led to -ach stock
holder at his usual piace of residence.
Every stakeholder shall be entitled to
one vote for each share Of stock standing
in his name on the books Of the Company
to be cast either in person or by proxy,
and the majority Of the votes cast ehail
elect.
Any vacancy occurring among tho Di-
rectors by death, resign alton or otherwise.
may be filed by election for the remain
der of the term Of the Board by the re-
Directors.
The failnre to elect Directors on the
late above specified shall not desolve the
but the Directors then in Of |
ice shall remain in Off - until their suc |
.essors are elected and qualified, and
shall cause another election to be helA ~ |
soon as practicable thereafter after notice
hall be given as above provided.
Each Director shall be entitled to vote
It meetings Of the Board either in person }
II by proxy, and a majority Of the Board /,
If Directors present either in person or
~ proxy shall constitute quorum for the |
of business.
The first Board Of Directors named in |
his Charter and such Boards as may BE-
hereafter elected in accordance herewith,
b all be elected from their own number
aud they shall also elect the
who may or may not be mem.
Der of the Board. The Board Of Direc-
tors shall have power to elect the same
above provided.
The said Board may make and estab-
|ish. as well as alter and amend, any and
all bylaws, rules and regulations neses-
sary and proper fer the conduct and
Of the business and affairs
II the said corpoI alton, and the said
Board shall have full power and authority
to borrow money, execute mortgages and
create liens, issue notes, bonds or other
and generally to do all things
Or necessary for the proper
carrying on Of the business OF the said
and also, a. above provided,
70 issue and deliver the fully paid shares
If stock for cash, or in payment Of labor
lone or services rendered or property act ,
la!ly received, upon such terms and con- |
iitiona 40 it may see fit.
ARTICLE
At the expiration Of this Charter, or in =
he event OF the prior dissolution Of the
1t shall be liquidated by two /
commissioners to be elected by the Board |
If Directors, which said commissioners |
need not necessarily be stockholders,
and the said commissioners shall
,ave full power to sell al the assets
II the property, both real aud personal Of
he corporation, and to convey full aud |
.ompelete title thereto and to do all acts |
essential or proper to full and complete
liquidation Of its affairs and distribution |
If the proceeds, if any, among the stock |
holders.
ARTICLE
No transfers of stock shall be admitted |