New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1911-04-29

NAV commence business when Six thou
sand Dollars CSC, 900 00) of its capita
stock shall have been subscribed for
ARTICLE V.
All of the corporate powers of this cor
poratiou shall be vested in, and exercised
! by Board of Directors, composed o.
| five (5) stockholders, three 90 OF whom
| shall constitute quorum for the trans
action of business, which said directors
shall DO elected at general meeting OF
the stock holders of this corporation, to be
| held on the third Monday in January, III
each year, aud notice of said election
shall be given by registered letter ad
dressed to each stakeholder. at his last
known address, and deposited in the post
office of The United States at least ten
days prior to the date OF said meeting.
The Board of Dlrecto fs, OF tins cor
poration Mt its first n Getting, shall elect
from among its number, pre- sident, a
vice president, secretary and a treas
urer; the Office of secretary mud treasurer
may be held by one person; IN the event
he Office OF secretary Is held separately,
then and in thai ease. it shall not be nee
essnry for the said Office TO be Il stock
holder and member of the Board The
Board of Directors, prior TO the election
of officers, shall determine whether OF not
such Offices shall be held by one person,
and II not, whether or not The secretary
shall be elected from among Its members.
The first Board of Directors shall con
sst OF the following: |. u. Stafford, An
drew Stafford. George Z. Lane, Alfred
Renoudet aud Chas. |. Denechaud with
A. L. Stafford, President the said |. ID
Stafford as Vice President, the SAID Geo
T. Lane rs Secretary, and the said Al
fred Renoudet, rs Treasurer; aud said
Board, as so constituted, shull continue
and remain In office until the third Mon
day in January 1918, when the first cleo
ton OF directors under this charter, shall
take place, CT 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 holo over un-
til their successors shall have been duly
elected and qualified In the event of
any failure to hold ths election on the
date stipulated, the president shall call a
new election in, &C ediately thereafter, not
ice Of which said election shall be given
rs hereinbefore provided. AT all elec
tons and meetings of stockholders, each
stockholder shall be be entitled to one
vote for each share of stock represented
in his own name aud may vote in person
or by proxy.
All elections shall be by ballot and
shall be held under such rules and regu-
lations us the Board of Directors may
prescribe.
The Board of Directors shall have the
power to fill all va, ancies il its midst
from among the 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
he same as in its discretion it may deem
tit and to the best Interests of the corp
Dration.
The Board of Directors shall appoint
such officers, agents, managers, EN- !
ployees, clerks and servants as may be
necessary for conducting the business
and affairs of this corporation. They |
shall fix their compensation and shall
nave the right to dismiss them ut plea
sure, and they shall also have the right
% enter into agreements and contracts
or their services. They shall have the
power authority to make and establish. as
we'll as alter and amend, any and all by
avs, rules and regulations for the CON
1uct, support and management of the
business and affairs of this corporation.
The Board of Directors shall have full
1ower and authority to borrow money, to
ssue bonds, notes or other evidence of
lebt, and to secure same by mortgage or
pledge, or both, upon the property of this
corporation.
ARTICLE vi.
This Charter may be changed, modified
,r amended, or this corporation may be
dissolved by general meeting OF the
convened for that purpose,
With the assent of three fourths of the
capital stock of this corporation, present
,r represented at such general meeting,
md which meeting shall be held after
lotice shall have been given to each
stakeholder by registered letter, address
ID to his last known address and deposi-
ed n the post Office OF the United States
It least ten days prior to date of said
Meeting. Notice Of all meetings of stock
FOLDERS not herein, or by law otherwise
provided for, shall be given in the man
Ter herein Immediately above design ated
Any change proposed, or made with re-
efenoe to the increase or decrease of the
capital stock Of this corporation shall be
made in accordance with the laws of the
State of Louisiana, on the subject of al
ering the capital stock of corporations.
ARTICLE VII.
In case of the dissolution or termina-
ioH of this corporation, either by limi-
alton OF its charter, or for any other
ause, it's affairs shall be liquidated by
hree commissioners selected by stock
olders at a general meeting held, rs
ereinbefore set forth. The said COM
nissioners shall remain in office until the
fairs Of this corpot alton shall have been
ully iiquidated; aud in the event of the
cath or incapacity Of any one of said
to act the vacancy shall
70 filled by the surviving commissioners.
ARTICLE VIII.
No stakeholder shall ever be held liable
r responsible for the contracts or faults
I this corporation in any further sum
hat the unpaid balance due the corpora.
ion on the shares of stock subscribed
Or or owned BY him; nor shall any mere
ncapacity in organization have the effect
I rendering this charter null, or of expo
ing any stakeholder to any liability be-
ond the unpaid balance (if amy due
pom his stock.
The appearers hereto have written op
osite their respective names the number
shares SUBJ cribed by each OF them, and
his Act Of Incorporation shall serve as
10 original subscription list of this Cor.
grafton.
Thus lone and passed at New Iberia,
the Parish Of Iberia, in the State of
ouisiana, on the day and date herenbe-
IRE first written, in the presence of A. J.
ammack and L s. Broussard. CONNIE
mt residing witnesses, who have signed
lese presence, together with the said an
carers, and me, Notary, after due read
g OF the whole. (SigEed)
/. T. STAFFORD. 40 Shares
d. STAFFORD. 40 Shares
/. p. LANE. 40 shares