New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-03-19


one thousand { l,0O0) shares Of the
par value of one hundred (9lUU)
dollars each. which shall be paid
for in cash, or III the purchase OF
properly. All shares OF stock
shall be i~M paid and n0n-asses-
sible. No transfer of stock shall
be recognized or be binding upon
the company's books unless made
pursuant to its bylaws and re-
corded upon the books of the
company. This corporation shall
become going concern as soon
as fifty thousand ($5o,000) dollars
OF i,s Capital Stock shall have
been subscribed and paid for.
Article v.
All the corporate powers OF this
corporation and the management
and control Of It's affairs slali
be vested in and exercised by "a
Board OF Directors, composed OF
stockholders, the majority OF
whom shall constitute a quorum
for the transaction OF its business.
The said Board shall be electee,
upon the second Monday OF Feb
ruary OF each year, and shall, i'm
medlalely after their election, elect
from their number President,
Vice President and Secretary
Treasurer. Each stockholder
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 shall
have been duly elected and qua
fled, and any failure to elect shall
not be regarded a a forfeiture Of
his Charter. Five Directors
shall constitute a quorum. Any.
vacancy occurring on said Board
shall be filled by the remaining
Directors for the unexpired term.
And said Bosrl snail have the
,igh.s 10 appoint and dismiss any
clerks or other employees Of the
corporation as it may seem fit and
for the proper manage
ment and control of said busi-
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 three-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 stakeholder 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 uf dissolution of this
corporation, by the expiration of
this Charter or otherwise. the
stockholders shall elect three liq-
uidators who shall have full au-
thority to wind up its affairs. In
the event of he death or disabil-
ity Of any one said commissions
ers, the survivors or remaining hq-
uidators hall appoint a successor
to him.
Until the election to be held in
February 1910, the following
named persons shall constitute the
first Board Of Directors:
II. N. Pharr, President.
Don Caffery, Vice President.
Jos. Il. Burguieres, Secretary
Treasurer.
Louis s. Clarke, j. NJ. Bur-
guieres, John M. Caffery, E. A.
Pharr, Il. Il. 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 Pofteus R. Burke
and S. G. Sumrall. competent wit.
nesses, who have signed with ap-
pearer and me, Notary, after due
Of the whole.
Originally Signed.
II Il pHARR fs0 ~hsroc