New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1911-04-22

sand Dollars CSC, 600 00) OF its capita
stock shall have been subscribed Tor.
ARTICLE V.
All of the corporate powers of this cor
poratioR shall be vested in, and exercised
BY Board of Directors, composed o
five 60 stockholders, three (3) OF whom
shall constitute quorum Tor the Trans
action of business, which said directors
shall be elected at a general meeting o
tho stockholders of this corporation, to bt
held on the third Monday III January, II
each wear and notice OF said election
shall be given by registered letter az
dressed to each stOcknOider, at his las
known address, and deposited IN the pos
office of the United States NJ least tel
DAYS prior to the date of said meeting.
The Board of Directors, of this cor
porstion at its first meeting. shall elect
nom among its nun Der, president,
secretary and treas
urer;,the Office OF secretary and treasurer
NAV be held by one person; III the event
the office Of secretary Is held separately
/ hen and in that case, 1t shall not be nee
essary FIR The said office to be stock
holder and a member OF the Board. Inc
Board of Directors, prior TO the election
of officers, shall determine whether or not
such offices shall be held by one person,
and if not, whether or not the secretary
snail be elected from among It's mem beers.
Tie first Board OF Directors shall con
sist o. the following: |. ID. Stafford. An
drew Stafford George P. Lane, Alfred
Renoudet and Chas. |. Denechaud, with
A. L. Stafford, President, the said L. ID
st afford as Vice President, the SAID Geo.
P. Lane as Secretary, and the said Al
fred Renouuet. as Treasurer; and said
Board, AS so constituted, shall coutinae
and remain Ia office until the third Mon
day in January 1918, when the first cleo
ton of directors under this charter, shall
take place, or until their successors have
been elected and qualified.
Failure from any cause, to elect direc-
tors, on the date stipulated, shall not dis
solve the corporation, but the officers and
directors then in Office snail holu over I'M
til their successors shall have been duly
elected and qualified. In the event of
any failure to hold tho election on the
date stipulated, the president shall call a
new electior Nj II, d i at g ~ thereafter, not
ice Of which said election shall be given
as inbefore provided. At all elec-
tons and meetings of stockholders, each
stockholder shall DC be entitled to one
in his own name and may vote in person
or by proxy.
All elections shall be by ballot and
shall be held ander such rules aud regu
lstions as the Board of Directors may
prescribe.
The Board Of Directors shall have the
power to fill all vacancies in it's midst
from among the st stockholders of this corp
grafton.
The Board of Directors shall have con
troll Of the property of this corporation,
and shall so conduct, manage and use
the same as in its discretion it may deem
fit and to the best interests of tue corp
grafton.
The Board of Directors shall appoint
such officers, agents, managers, en-
ployees, clerks and servants AZ may be
necessary for conducting ths business
and affairs of this evaporation. They
shall fix their compensation and shall
have the right to dismiss them at plea
sure. and they shall also have the right
to enter into agreements and contracts
for their services. They shall have the
power authority to make and establish, as
well as alter and amend, any and all by.
laws, rules and regulations for the con-
duet, support and management of the
business and affairs of this corporation.
The Board of Directors shall have full
power and authority to borrow money, to
issue bonds, notes or other evidence of
debt, and to secure same by mortgage or
pledge, or both, upon the property OF this
corporation.
ARTICLE VI.
This Charter may he changed, modified
or amended, or this corporation may be
dissolved by q general meeting of the
stockholasrs, convened for that purpose,
with the assent of three fourths of the
capital stock of this corporation, present
or represented at such general meeting,
and which meeting shall be held after
notice shall have been given to each
stakeholder by registered letter, address
ed to his last known address and deposit
tsdIin the post office Of the United States
at least ten days prior to date of said
meeting. Notice Of all meetings of stock
holders not herein, Or by law otherwise
provided for, shall pc given in the man
ner herein Immediately above design mated
Any change proposed. or made with re-
Iefence to the increase or decrease of the
capital stock OF this corporation shall be
made in accordance with the laws of tho
State of Louisiana, on the subject Of al
tering the capital stock Of corporations.
ARTICLE VII,
In case of the dissolution or termina-
ton OF this corporation, either by limi-
tation OF its chatter, or for any other
cause. its affairs shall be liquidated by
three commissioners selected by stock
holders at a general meeting held, as
set forth. The said COM
miss toner's shall remain in office until the
affairs Of this corpo alton shall have been
fully liQuidated; and in the event Of the
death or incapacity of any one of said
commissioners to act the vacancy shall
be filled by the surviving commissioners.
ARTICLE VIII.
No stakeholder shall ever be held liable
Or responsible for the contracts or faults
Of this corporation in any further sum
that the unpaid balance due the corpora
lion on the shares of stock subscribed
for or owned BY him, nor shall any mere
in organization have the effect
At rendering this charter null, or of expo
'iug any stakeholder to any liability be.
Fond the unpaid balance (if AMY due
apou his stock.
The appearers hereto have written Cd
1osite their respective names the number
If shares subscribed by each Of them, and
his Act of Incorporation shall serve as
he original subscription list of this Cor
Thus lone and passed at New Iberia,
n the Parish of Iberia, in the State of
Louisiana, on the day and date hereinbe.
ore first written, in the presence of A. j.
>ammaek and 2. &. Broussard, eompe-
ent residing witnesses, who have signed
hese presence; together with the said ap
,sareYs, and me, Notary, after due read.
ng Of the whole. (SigHed)
!. T. STAFFORD. 40 Shares
J. D. STAFFORD. 800. 80 Shares
I. P. LANE. 40 Sbares
RENOUDET. Share
|. DkNRCHAUD. ......, II Share
per pro A. 7. Stafford.
u;.,.s A. J. CAMMACK.
K. Q. BRoUsSARp.
G. n. COMPTON, Notary Public.