The weekly Iberian. (New Iberia, La.) 1894-1946, 1911-04-15

= service of citation or 9TH" iega
, process shall be made upon I'll
president OF said CORPORATION, on
in his absence upon the Ni,e-pres
{ ident, in the absence of both, M
on the secretary-treasurer.
, ARTICLE Ill.
. The objects and purposes 70
which this corporation j. or1iu.z,.
and the nature of the business t,
be carried on by it are hereby e.
clared to be as follows, to-Wit:
To construct and build rail
roads, railways, either steam, c!ec
trio Or other motive power; tC
build and construct power houses
wharves, docks, passenger an,
freight depOts, freight yards ant
warehouses, with all ntcessas
spurs, side tracks, switches, turn
outs, water tanks. sand alI grave
pits, grain elevators, cotton com
presses, round houses, sheds Goa
chutes, platforms, ferries. bridges
and all other necessaries, acccssor-
les, adjuncts and appurtcnances
necessary in tn" construction Of z
line Of railway Or railways; TO re
claim and irriyatc Ian Is and tC
build and erect the necessary
pumping plants and machinery for
the proper reclamation ana irriga-
ton of the same; and to engage in
a general development and con
struction business with all powers
and rights incidental or necessary
to the same; to obtain and receive
by grant, purchase, gift, or be-
quest, both real and personal prop
erty; and for the purchase OF land,
supplies, material, or the payment
OF labor, contracts and work, to
=, issue stock certificates or bonds in
payment thereof and at such val
uation as may be agreed upon ~
and between the directors for this
corporation and the owners Of
land, materials, supplies, and the
laborers 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 tho things
herein provided for; to borrow
money or to purchase and lease
property on it's 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 corporate 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 for
securing the payment of said bonds
or notes, to mortgage and pledge
it's 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 he 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 represented by ten thous-
and shares OF the par value of one
hundred dollars ($1OO.OO) each,
which stock shall be paid for in
cash or on such installments and
after such notices as the board of !
may fix, or may be is
sued in payment of labor Or SER
vices rendered, or property act
ually received by said corporation.
In case of the failure of any sub |
scriber to pay the installments de-
handed on his stock, as required,
the board of directors shall have
the option after thirty days writ
ten notice to the delinquent, OF |
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 bust
ness and operation as soon as five
thousand dollars of the capital
stock shall have been subscribed
and paid for.
All shares of stock shall be fully
paid and worcestershire, and trans
fers of stock shall not be binding
upon said corporation unless re-
corded upon it's books of transfer.
No stakeholder shall be held La
Die or responsible for the contracts
'r faults of said corporation in
my further sum than the unpaid
balance due on shares OF stock
owned by him; nor shall any mere
nformality in organization have
he effect of rendering this charter
lull or of exposing any stockhOld-
r to any liability beyond the
mount of his stock. The subscrip-
ion and stock book shall be kept ;
It the office and domicile of the
ompany where certificates of
took shall be issued to the sub ,
cribers and no transfer of stock ,
hall be recognized as valid and ,,
hiding upon the company until the :
anne is made upon the stock books
I the corporation. Stock-books {
hall be closed for the transfer of !
took ten days before election.
ARTICLE V. {
The corporate powers OF this g
shall be vested in and
and its business and af- v
airs shall be managed and con- t
ucted by board of directors
OF seven ~ stockholders.
Said directors shall be elected
on the first Monday or
[arch or such other day as the
at regular or spe-
al meeting may fix.
nf nonh n1n 70