New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1912-03-02
.oor;ro and onsrate steamship0 and Otnor

motor power and generally TO nOlu ant
! 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 10 be the sum of Ore Million Dollars
divided INFO and represented by Twenty thousane
shares, Of The par value of Fifty Dollars each,
which stock shall be paid in cash or on such in
stallments and after such notices as the Board OF
Directors ia, FIX, or may be issued IN payment OF
labor or services rendered or property actually re-
ceivrd by said corporation In case 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, ofSfortriring th- stock
with all the amounts previously paid thereon, and
no stock holder shall have the hi TO vote whiic
in default for upaid installments due on his stock
The cooperation may begain its business and
op.ratons as soon as Five Thousand Dollars OF the
capital stock shall be subscribed and paid Tor
All shares of stock shall be fully paid and non
assessabe, and transfers of stocF shall not be bind
ing upon said company unless recorded upon III
books of trsnsf r.
No stakeholder shall be held liable 1tsponsibls
for the contracts Of faults OF said corpcion in any
further sum than the unpaid balance due on shares
of stock owned by him; moi. shall any mere IN
formaty in organization have the effect OF render
ing this charter null, of exposing stakeholder
TO anv liability beyond the amount OF stock sub
scribed by him.
The subscription and stock books shall be kept
at the domicile and in the Office Of the Company,
l. Of, hall he
subscribers, and no transfer of stock shall be re-
eognized 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.
All subscribers to stock and all who shouls
az qure stock BY purchase otherwise, shall be
deemed members of this act of Incorporation.
ARTICLE S.
The corporate 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 directors shall be elected an
nully on the first Monday of October, or such
other day as the stockholders at res 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 a newspaper published in the eity
of New Iberia, L suisana, and the directors thus
elected shall serve until their successors shall have
been elected. majority of the votes cast shall
elect, and each hare of stock shall be entitled to
enc vote either in person or by proxy. failure
to elect directors on the day required shall not dis
solve the corporation, but the board of directors
shall co tnue to hold their offlc- until new
Board of Directors have been elected and ten days
prior notice shall be given in newspaper published
in the CITY of New Iberia, 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 busnes.
The Board of Directors at the first meeting
shall elect from their own number President and
first and second Vice-President, and also cleo
Secretary and Treasure, but the same person
may h Id the Office Of Secretary and Treasurer;
and shall appoint from time to time such officers,
clerks, agents, and 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 pleasure; and 'hail have
full power to make and establish, well as change
| or amend, or alter conformably to the act of in
! corporation, all ty-iaws, rules and regulations
deemed requisire for the control and Management
of the affairs and business Of said corporation; and
| shall have full power to borrow money, execute
mortgage, issue bonds, make contracts, make
rules for the declarations of dividends, and general
ly to do all things and in all matters pertinent
to the objects and purposes Of this corForaton; 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 is subject to repeal,
modif cations change by the holders OF 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 as above pro-
vided for, such notice may be given by ton day,
| NOTICE in writing to each stockholder, Of me
! and place of holding said annual election, whieh
may be served by transmitting such notice to him
| addressed through the mails to his last known
place of residence business, provided, that whe,
all of the stockholders 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 stockholder shall
he entitled to cast either in person by proxy
one vote for each share of stock owned by him
which shall have been standing in his name or
|
prior to the date of the election. The Board o.
| Directors may establish transfer agencies il
| financial centers to make transfer Of stock Of th
corporation, and under such reasonable rules ant
| regulations as the Board may establish. Storh
transfers on the books Of said transfer agents shall
be deemed transferred on the books of the Comp.
| any.
ARTICLE s.
The following persons shall constitute the frs
Board of Directors, .to-wit:-
f. NJ. Welch, Homer Barouse, J w. Lyman
| Edward l.. Estorge, ]. r. Colomb, Dr. j. i. OIL
vier, A. g. Goulas, Jules Dreyfus and Bert Par
| man of whom r. NJ. Weleh shall be president
| Homer Barouse, 1st vice pre-, ident; J. W. Lyman
I'd vice president and Edward l.. Estorge, secre
ARTICLE 7.
Except as to increase of the capital stock, which
shall be done in the manner and form required b,
| law. thi, &C, Of Incorporation may be changed
altered, modified, or said corporation may b
dissolved BY vote of not less than three fourth
of the outstanding capital stock at meeting Of tn
stock hoaers called especially for thai purpose afte
| ten days notice to each stoekhoIder Of the tim,
and place of holding such meetings given in tn
manner prescribed by Article Five of this Act
! OF BY publications Of notice of such meeting 70
tniftY Gays IN some Newspaper printed or pubsnct
in the City Of New iberia, ouisisna; such meet
ing to be convened by the Secretary upon order o
majority Of the Board of Directors, or upor
written request Of those holding not less than one
| third Of the capital stock.
ARTICLE 8.
Upon the termination Of this charter either b,
limitation or any other cause, the business an,
affairs thereof shall be liquidased under the super
intendence of three commissioners sc eeted from
am ,ng the stockholders at general meeting calle.
for the purpose in the manner above provided
whs shall iu addition to the duties prescribed b,
law, perform such further duties and give sucl
security as may be required BY the ockholders
In case of the death of any of the commissioner
during the term of his duties as such, the remain
ing commissioners shall elect successor hcm tn.
stockholders.
Thus done and passed at my office in the Cit,
IL New Iberia, Parish of Iberia, State Of Louis
ana, on the day and date just above written "
the presence Of f. w Baumsn and Melvin W
Fisher, competent witnesses, who hereunto sigr
their names with appearers and me- Notary afte,