New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1912-02-10

acquire and operate Steamships and Othe
vessels for the carriage of freight an
passengers for hire; to construct, ow,
and operate docks aud wharyes for th
landing of vessels and for the securing
storing and forwarding of freight and &C
eommIdation of passengers; to establish
aud operate telegraph and telephou,
lines; to construct or otherwise acquire
MAINTAIN and operate canals for naviga
ton, and toacQuire and hold stocks, bond
or other securities of other corporations
owning and operating such canals; Il
construct, own and operate urban anC
interurban railways with electric or Other
motor power, and generally to hold and
exercise all such incidental powers gen.
orally and privileges as relate to the OBJ
jects herein set forth.
ARTICLE 4.
The capital stock Of this cooperation is hereby
declared to be the sum of Ore Million Dollars.
divided into and represent d BY Twenty thousand
shares, of the PAR value Of Fifty Dollars each,
which stock shall be paid in cash, or on such in
stalmsnts and after such notices as the Board OF
Directors may FIX, or may he issued in payment Of
labor or services rendered prov erty actually re-
eeiyed BY said corporation. In case OF failure OF
any subscriber e. pay the installmenrs demanded
on his stock as required, the Board of Directors
shall have the option, after thirty days written
notice to the delinquent, OF forfsitins the stock
with all the amounts previously paid thereon, and
no stoekhoder shah have the rit hit to vote while
in default for upad instalments due on his stock.
The cooperation may began its business and
operations as soon as Five Thousand Dollars of the
.I.Nl l.. -
All shares of stock shall be fully paid and nom
assessable and transfers of stoek shall not be bind
ing upon said company unless recorded upon it,
books of transit r.
No stockholder shall be held liable or responsible
fJr the contracts Of faults o. said corporation in any
further sum than the unpaid balance due on shares
of stock owned by him; nor shall any mere in
tormallty in organiz alton have the effect Of render
in this charter null, or Of exposing stakeholder
to any liability beyond the amount Of stock sub
scibed by him.
The subscription and stock book. shall be kept
at the domicile and in the office Of the Company,
where certificates Of stock shall be issued 70 the
subscribers, and no transfer Of sock shall be re.
cognized as valid and binding until the same is
made upon the stock books of tile Company.
Stock books shall be closed for the transfer Of
stock thirty days before election.
All sub cribers to stock and all who should
acquire stock BY purchase or otherwise, shall be
deemed members of this act of inc 'poration.
ARTICLE 8.
The corporal. powers of said corporation shall
be vested in and exercised, and the business AID
affairs of his corporation shall be managed and
conducted by Board of Directors composed Of
nine members Said d ectors shall be elected an
nully on the first Monday of October, such
other day as Il { stockholders at re ular or any
special may fix and all such elections shall be BY
ballot. OF each election, ten days PRIOR notice
shall be given in newspaper published in the City
of New iberia, louisiana, and the directors thus
elected shall unit! their shall have
been elected. majority Of the votes cast shall
elect, and each hare Of stock shall be entitled to
one vote either in person or BY proxy. A failure
to elect directors on the day required shall not dis
solve the corporation, but the board Of directors
shall co tinue to hold ,h,ir Office until new
Board of Directors have been elected, and ten DAYS
prior notice shall be given in newspaper published
in the City of New ID, ria, of such election. Any
vacancy occurring in the Board Of Directors from
any cause whatever shall be filled by election by
the remaining directors. Five directors shall con-
stitute quorum for the transaction of cuisines.
The Board of Directors At the first meeting
shall elect from their own number Prsiden. and
a first and second Vice-President, and also cleo
Secretary ard Treasur-, but the same person
may held the office of Seeretar, and Treaserer;
and shall appoint from time to time such officers,
clerks, agents, and confer power to appoint same
and other employees - may be deemed necessary
for the business and purpose Of said corporation,
and dismiss the same at pl asure; and shall have
full power to make and establish, well a. change
or amend, or alter eonformzbly to the act Of in
corporation, all ty-laws, rules and regulations
deemed rsquisire for the control and management
of he affairs and business of said corPoration;
shall have full power to borrow moGey, execute
mortgage, inus bonds, make contracts, make
rules for the declarations Of dvideds, and general
" to do all things and act 10 oil matters pertinent
to the objects and purposes Of this corporation;
also to deliver full paid shares Of this stock or the
bonds Of obligations of this corporation in payment
for labor done, or money, or rights in property
actually received.
And any rule or bylaw is subject to repeal,
modi' cations or change BY the hold, r. Of major
iey Of the stock at any meeting Of the Company
The notice of the annual meeting Of the stock
holders may be given BY publication ss above pro-
vded for, or such notice may be gives BY ten days
notice in writing to each stock holder, Of me
and place of holding said annual election, which
may be served BY transmitting such notice to him
addressed through the mails to his last known
place Of residence business, provided, that whes
all Of the stockholders are present in person BY
proxy, they may waive in writing the notice and
delay for such meeting, except in cases where
otherwise provided by law.
In voting for directions each stoekhoidrr shall
he entitled to cast either in person or by proxy,
one vote for each share of stock owned by him
the books of the Company for 1t least thirty Gays
prior to the date of the election. The Board Of
Directors may establish transfer agencies in
hnanc al centers make transfer of seock Of this
corporation, and under such reasonable rules and
regulation. as the Board may establish Stork
transfers on tbs books Of said transfer SCENTS shall
be deemed transferred on the books of the Comp
any.
ARTICLE s.
The following persons shall constitute the first
Board of Directors, to-wt:-
FM Welch, Homer Barouse, J W. Lyman,
Edward l.. Estorge, j. 7. Colomb, DR.. J.. 4. Oil
vier, A. q. Geulas, Jules Dreyfus and Bert Par
man; Of whom r. N. welch shall be president
Homer Barouse, LIST vice. pre-, identj J. w. Lyman
I'd vice.presidcnt and Edward l.. estorge, seeres
tary treasurer.
ARTICLE 7.
Except as to increase Of the capital stock, which
shall be done in the manner and form required by
law, this &C, of incorporation may be changed,
altered, OF modified, or said corporation may be
dissolved by vote Of not 'ess than three fourths
Of the outstanding capital stock at meeting Of the
stock holders called especially for thai purpose after
ten days notice to each stoekho'der Of the time
and place of holding such meetings given in the
manner prescribed BY Article Five of this Act,
or BY publications Of notice Of such meeting for
thirty days in newspaper printed OF published
in the City Of New Iberia, ouisl ma; such meet
ing to be convenedsby the Secretary upon order Of
a majority Of the Board of Directors, or spon
written renest of those holding rot less shzn one
third Of the capital stock.
ARTICLE 8.
Upon the terminssion Of this charter either BY