New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1912-02-03

| vessels Iof the carriage OF freight anC
passengers for hire; to construct, owl
and operate docks Rud wharyes for the
landing of vessels and for the sscuI ing
storing and forwarding of freight and ac.
communication of passengers; to establish
aud operate telegraph and telephous
lines; to construct or otherwise acquire
MAINTAIN and operate canals for naviga-
ton, and to acquire and hold stocks, bonds
or other securities of other corpol ations
owning and operating such canals; to
construct, own and operate urban and
lnterurban 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 a.
The capital sook of this Cooperation is hereby
declared to be the sum of Ore Million Dollars,
divided into and represenud by Twenty tn jusand
shares, of the Far value of Fifty Dollars each,
which stock shall be paid in ca.h or on such in
stsllments and after such notices as the Board of
Directors may fix, may be issued in PAYMENT of
labor or services rendered or property actually
ceivrd by said corpora alton. In of failure of
any subscriber t. pay the instAllments demanded
on his stock as required, the Board of Directors
shall have the option, after thirty days written
notice to the delinquent, or forfeiting the stock
with all the amounts previously paid thereon, and
no stookholder shall have the ril bit to vote while
in default for upaid installments due his stock
The cooperation may begain its business and
operations as soon as Five Thousand Dollars of the
capital stock shall be subscribed and paid for
d. l.. t,,li.
assessabe, and transfers of tock shall not be bind
ing upon said company unless recorded upon it,
books OF TRANSIT r.
No stock holder shall be held liable or responsible
for the 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
formaty in organic alton have the effect Of render
Ing this charter null, or of exposing stakeholder
t F., any liability beyond the amount of stock sub
scribcd by him.
The subscription and stock books shall he kept
at the domicle and in the Office of the Company
where certificates of stock shall be issued the
subscribers, and transfer of ock shall be re-
cognized as valid and binding until the same is
made upon the stock books of the Company.
Stock books shall be closed for the transfer of
stock thirty days before election.
An subscribers to stock and all who should
acquire stock by purchase otherwise, shall be
deem ed members of this act of incorporation.
ARTICLE s.
The corporate powers of said corporation shall
be vested in and exercised and the business ard
affairs of his corporation shall be managed and
conducted by Board of Directors composed Of
nine members Said directors shall be elected
nully on the first Monday of October, or such
other day as the stockholders at regular or any
special may fix. and all such elections shall be by
ballot. OF each election, ten days prior notice
shall be given in a newspaper published in the City
of New Iberia, L susiana, and the directors thus
elected shall serve until their shall have
been elected. A majority of the votes Gait shall
elect, and each share Of stock shall be entitled to
one vote either in person or BY proxy. A failure
to elect directors the day required shall not dis
solve the corporation, but the board of directors
shall co tnue to hold their Office until a new
Board Of Directors have been elected and ten DAYS
prior notice shall be given in a newspaper published
in the City of New iberia, of such election. Amy
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 business.
The Board of Directors at the first meeting
shall elect from their own number President and
a first and second Vice-Prcsident, and also cleo
Secretary and Treasurs, but the same person
may Id the Office Of Secretary and Treasurer;
and shall appoint from time to time such officers,
clerks, agents, ard confer power to appoint same
and other employees as 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, as well as change
or amend, or alter conformably to the act Of in
corporation, all ty-laws, rules and regulations
deemed rsqusirc for the control and management
of the affairs and business of said corporation; ana
shall have full power to borrow moLey, execute
mortgage, issue bonds, make contracts, make
rules for the declarations Of dividends and general
ly to do all things and act in all matters pertinent
to the objects and purposes Of this corfsration As
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 10 subject to repeal,
modif cations or change by the hold r. Of a major
ity Of the stock at any meeting of the Company
The notice of the annual meeting Of the stock
holders may be given BY publication a. above pro-
vided for, such notice may be given BY ten days
notice in writing to each stockholder, Of me
and place of holding said annual election, whish
may be served BY trsnsmi,ting such notice to him
addressed through the mails to his last known
place of residence or business, provided, that whea
all Of the stockholders present in person or by
pr, KY, they may waive in writing the notice and
g.. ~ in uh~v~
otherwise provided by law.
In voting for directors each stakeholder shall
he entitled to cast either in person or by proxy,
one vote for each share Of stock owned BY him
which shall have been standing in his name on
the books Of the Company for At least thirty eays
prior to the date Of the election. The Board Of
Directors may establish transfer agencies in
financial centers to make transfer Of stock Of this
corporation, and under such reasonable rules and
regulations az the Board may establish Stork
transfers on the books Of said transfer agents shall
be deemed transferred on the books of the Comp
any.
ARTICLE 6
The following persons shall constitute the first
Board of Directors, to-wit.-
r. NJ. Welch, Homer Barouse. J W. Lyman,
Edward l.. Estorge, j. r. CoIomb DR.. ]. =. Oil.
vier A. q. Geulas, Jules Dreyfus and Bert Par.
man; Of whom r. NJ. Welch shall be president,
Homer Barouse, LIST vice. PREF identlJ. W. Lyman
I'd vice-president and Edward l.. Estorge, secrs'
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, modified, or said corporation may be
dissolved by vote Of not less than three fourths
Of the outstanding capital stock at meeting Of the
stockholders called especially for thar purpose after
ten days notice to each stockholder 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 some newspaper printed or Published
in the City Of New Iberia, ouisiana; such meet
ing to be convened BY the Secretary upon order Of
a majority Of the Board of Directors, or upon
written request of those holding not less than enc
third Of the capital stock.
ARTICLE 8.
Upon the termination If this charter either BY
limitation or any othei cause, the business and