The weekly Iberian. (New Iberia, La.) 1894-1946, 1911-04-08

struction business with all power.
and rights incidcntal or necessary
to the same; to obtain and recriV,
Ivy grant, purchase, gilt, o. be
, quest, both real and personal prop
crty; and for the purchase o. land
supplies, material, or the payment
of labor, contracts AMI work, tt
issue stock certificates or bonds il
payment thereof md at surh val
uation as may be agreed upon EN
and between the directors for thi.
corporation and the owners o
land. materials, supplies, and the
lahore; S and contracts of work; &c
, obtain, accept or receive from
-...ily safe, county, parish, district
ward, town, village or person any
rights, privileges or franchise.
which the same may offer for the
construction Of any of the things
herein provided for; to borrow
money or to purchase and lease
property on its own credit for the
purposes Of constructing lines OF
transportation or for the reclaim
alton or irrigation Of lands, and, as
evidence of Indebtedness OF this
corporation for such loans or the
purchase or lease Of said proper
ty, to issue its corporal" bonds or
promissory note bearing interest
and made payable either in United
States currency or gold coin and
at such time and place as may be
approved by the directors and 70,
securing the payment of said bonds
or notes, to mortgage and pledge
its property real or personal, and
its rights, privileges and fran
chises; TO acquire and TO hold
stocks, bonds or other securities Of
other corporations, and to do all
things needful and necessary, or
that may be incidental to the OBJ
jects and purposes herein set forth
ARTICLE ".
The capital stock Of this cOrpor-
alton is hereby declared to be the
sum OF one million dollars divided
into ana It presented by ten thous-
and shares OF the par value of one
hundred dollars (SlO0.0W each,
which stock shall be paid for in
cash or on such instalimcnts and
after such notices as the board OF
directors may fix, OF. may be is
sued in payment of labor or ser
vices rendered, or property act
ualiy received by said corporation
In case of the failure of any sub
scriber to pay the installments de-
manded on his stock, as required,
the board OF directors shall have
the option after thirty days writ
TO, a
FORGETTING his stock with all
amounts previously paid thereon
and no stakeholder shall have the
right to vote while in default for
unpaid installments@ due on his
stock.
This corporation may begin busi-
ness and operation as soon as fivei
thousand doNars of the capital
stock shall haN been subscribed
and paid fbr.
All sha.fs of stocnssaall be fully
paid andfnon-asscssibIe, and trans
fers of @tock shall not be Binding
upon snid corporation unless re-
cordea ApSHsftss-k books Of transfer.
No stakeholder Nhali be held liza
bic or responsible Tor the contracts
or faults of said corporation i'm
any further sum nan the unpaid
balance due on SHARES OF stock
owned by him; n9i' shall any mere
infOfmaiity in organization hav"
the effect of reuFlering this charter,
gull 0h.of exp6sing any stockholE
H to a'fy'@1iabiIity beyond Me
an1ount of his stock. The suhstTip-
ton asd stock book shaIlgsSe kept
at the offiee and domieiaa of the
company where certificates Of
stock shall be issued to the sub
scribers and no transfer OF stock
shall be recognized as valid and
upon the company until the
same is made upon the stock book
of the corporation. Stock-boOks
shah be closed for the transfer of
stock ten days before election.
ARTICLE V.
The corporate powers OF this
shall be vested in and
and its business and at
fairs shall be managed and con-
Quoted by board OF directors
OF seven O. stock holders.
Said directors shall be elcted |
I'll tIlS III NlOisidN vi a,
March or such other day as the /
at regular or spe-
.ial meeting may fix.
OF each election ten days prior +
notice shall be given in news
PAPER published in the City OF New /
IBERIA, and the directors thus cleo
ed shall serve until, their success
ors shall have been elected. A
majority of the votes cast shall
lect, and each share of stock shall
'e entitled to one vote, either in
'erson or by proxy.
A failure to elect directors on
he day required shall not dissolve
he corporation but the board of
irectors shall continue to hold
heir office until their Successors
hall have been elected.
Any vacancy occurring in the
GARD of directors from any cause
'hatever shall be filled by election
v the remaining directors. Five
irectors shall constitute a quorum
Or the transaction of business.
The board OF directors at their
rst meeting each year after their
ection, shall select one OF their q
lmber az president, vice pres
lent and ary-treasurer,
Id shall appoint from time to time {