The weekly Iberian. (New Iberia, La.) 1894-1946, 1911-03-25

process shall hc made lpon TN,
president Of said corporation. or
| in his absence upon the Nlcc-prcsz
| idcnt, in the absence Of both. up
on the secretary -trcasurcr
: ARTICLE III
The objects aud purposes 20
| which this corporation - orEau arH
| ana the nature Of tn" business a.
be carried ON hv II are herchN o.
clared To be as follows, - wit,
| To construct and hulId r31t
| roads. railways, either steam. eIee
| trio or Other motive power IL
build and construct power houses
wharvcs, docks. passcug"; auI
freight dcpots. freight wards 3n1
warehouses, with all neccseii,
spurs, side tracks, switches. turn
outs. water tanks. sand ana gray II
pits. grain elevators, cotton com
presses, round houses, sheds. coal
chutrs. platforms, ferries, bridges
and all other nrCeSSauIeS. aCGe%sor
les, adjuncts and appuItcnances
necessary IN the construction of Il
line of railway or railways, to re-
claim and irrigatr lands and Tea
build and erect th necessary
pumping plants Hnd mac hinurv Tor
the proper reclamation ana lrrIga-
ton of the same; and to engage IN
n general development and con
struction business Witl all powers
and rights incidental or necessary
to the same; to obtain aud receive
Ivy grant. purchase, gift, or "
quest, both real and personal prop
crty; aud for the purchase OF lard
supplies, material, or tn" payment
Of labor, contracts and work, to
issue stock certificates or bonds in
pay thereof and ut such val
uatiOn az may he agreed upon by
and between the directors for this
corporation and the owner Of
land, materials, supplies, and the
laborcrs and contracts Of work TO
obtain, accept or receive from
any state. county, parish, district
ward, town. village or person any
rights, privileges or franchises
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 limos OF
transportation or for the reclaim
alton or irrigation of lands, and, as
evidence Of Indebtedness of this
corporation for such loan or the
purchase or lease of said proper
ty, to issue its corporate bonds or
promissNry note bearing interest
and made payable either in t'nito5
States currency or gold coin and
at such time and place as may be-
approved by the directors and for
securing the payment Of said honds
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 nccdfuI and necessary, or
that may be incidental to the oh
jects and purposes herein set forth
ARTICLE ".
The capital stock Of this cOrpor-
alton is hereby declared to hc the
sum Of one million dollars divided
into ana represented by ten thOus-
and shares Of the par value OF one
hundred dollars (Sio0.0op each
which stock shall be paid for in
cash or on such instaIImcnts and
after such notices as the board oi
directors may fix, or may be is
sued in payment Of labor or ser
vices rendered, or property act
uaIly received by said corporation
In case of the failure of any sub
scriber to pay the installmcnts de
handed on his stock, as required
the board or directors shall have
the option after thirty days wri.
ten notice to the delinquent, OF
fOrfeiting his stock with all
previously paid thereon
and no stock holder shall have the
right to vote while in default for
unpaid installments due on his
stock
This corporation may begin bust
ness and operation as soon az five
thousand collars Of the capital
stock shall have been subscribed
and paid for.
All shares of stock shall be fully
paid and -asscssihlc, and trans
fers of stock shall not be binding
upon said corporation unless re
corded upon its books of transfer.
No stakeholder shall he held liza
bic or responsible for the contracts
or faults Of said corporation in
any further sum than the unpaid |
balance due on shares OF stock |
owned by him; nor shall any mere
in organization have
the effect OF rendering this cha rter |
null or of exposing any stOckhold-
er to any liability beyond the |
amount Of his stock. The subscrip-
ton and stock book s4all be kept |
At the office and douJciie of the
where certificates Of
stock shall be isspM b the sub
'cribers and as'1ransfer OF stock
upon the company Antii the
lame is made lEyoH the stock books
If the corporation. Stock books
hall be closed for the transfcr of
took tcp days before election.
/ ARTIcLE y
The corporate esp6Wcrs of this
corporation shall be vested in and
and its business and af-f
airs shall be managed and con-
|ucted by a board of directors
opposed OF seven t7N stockholders.
Said directors shall be elected
on the first Monday or
Iarch or such other day as the
tOckhOlders at a regular or spe-
ial meeting may fix.
OF each election ten days prior
Office shall be given in n uevs-