New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1912-02-24
acquire and opsrate steamship: and other

iuterurban railways Win .eieceI iS u
motor power, and generally to hold anu
exercise all such incidental powers gem
orally and privileges as relate TO the oo'
iects herein set forth.
ARTICLE 4.
The capital stock of this cooperation Is nefe0y
declared TO be the sum OF Ore Million DoiA'S,
divided into and represent, BY Twenty IN -usaha
shares. of the rar value OF FIFTY DoiiAfs eAeh'
which stock shall be paid in cash. or on sueh III
stsllments and after such notices as the Board OF
Directors may fix, or may be issued IN payment oi
labor or services rendered or property actually re-
ceved by said corporation In case OF failure Oh
an, subscriber t. pay the lnstallnenfs demahdeo
on his stock as required, the Board OF Dirttofs
shall have the option, after thirty days written
notice to the delinquent, OF fortsitins the stock
with all the amoun's previously paid thereon, ana
no stockholder shah have the rlt ht to vote whh:
in default for upaid installments due on his stock.
The cooperation may began its business ana
,r-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
,ss.ssab|e and transfers of stocE shall not be bind
inc uron said company unless recorded upon Its
books of transit r. go
for the contracts Of faults said corporation In any
further sum than the unpaid balance due on shares
OF stock owned by him; nor shall any mere IN
orality IN organic alton have the effect OF render
ing this charter null, or of exposing stookhoider
t, any liability beyond the amount ct stock sub
scrbed by him.
The subscription and stock books shall be kept
at the domice and in the office OF the Company,
where certificates of stock shall be issued to the
subscribers and no transfer of stock shall be re-
eoenized as valid and binding until ths 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 SHOULD
ACQUIRE stock BY purchase or 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 ar
affairs of his corporation shall be managed and
conducted by Board of Directors composed OF
nine members Said directors shall be elected an
nuy en- the first Monday of October, or such
other day as the stockholders at a 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 tify
of New Iberia, ausiana, and the directors thus
elected shall until their successors shall nave
been elected. A majority of the votes cast shall
elect and each share 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 cor porasion, but the board OF directofs
shall co tinue to hold thtir Office until a 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 suah 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 business.
The Board of Directors at the first meeting
shall elect from their own number Presidsn and
first and second Vice President, and also cleo
Secretary and Treasure, but the same person
may 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 surpose 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 bylaws, rules and regulations
deemed requsre for the control and management
OF ne a1IdlIS ana JUSTICES oI
shall have full power to borrow money, execute
mortgage, issue bonds, make contracts, make
rules for the declarations of divide IDS, and genera
y to dc all things and act in ali matters pertinent
to the objects and purposes Of this CORPORATION; as
also to deliver full paid shares Of this stock or the
bonds of obligations of this corporation in payment
for labor done, money, or rights IN property
actually received.
And any rule or bylaw is subject to repeal,
modi cations OF 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
no dsrs may be given by publication as above pro-
vided for or such notice may be given by ton days
NOTICE in writing to each stockholder, of time
| 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 when
all Of the stockholders present in person or by
pr.xy, they may waive in writing the notice and
delay for such meeting, except in cases where
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 days
prior to the date of the election. The Board Of
Directors may establish transfer agencies in
financial cenrers to make transfer OF stock OF this
corporation, and under such reasonable rules and
regulation. as 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:-
FM Weleh Homer Barouse, W. Lyman,
Edward L. Estorge.J r. Colomb, Dr. Z Oil
vier A. G. Goulas, Jules Dreyfus and Bert Par
man; of whom Y. NJ. Welch shall be president,
Homer Barouse, LIST vce-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 m nner and form required by
law, this act of Incorporation may be changed,
| altered, or modified, said corporation may be
dissolved BY vote of not less than three fourths
Of the outstanding capital stock at meeting of the
stock holders called especially for tina, purpose after
ten DAYS notice to each stakeholder of the time
and place of holding such meetings given in the
manner prescribed by Article Five of this Act,
or By publications Of norice Of such meeting for
thirty days in some newspaper printed or published
in the City of New iberia, Louisiana; such meet
ing to be convened BY the Secretary upon order Of
majority of the Board of Directors, or upon
written request Of those holding not less than one
third Of the capital stock.
ARTICLE 8.
Upon the examination Of this charter either by
limitation or any o,he, cause, the business and
affairs thereof shall be lquidased under the suprr-
intendence of three commissioners seize ed from
am ,ng the stockholders at general meeting called
for the purpose in the manner above provided,
who sbal iu addition to the duties prescribed by
law, perform such further duties and give such
security as may be required by the ockholdes.
In case of the death OF any Of the commissioners
during the term Of bis duties as such, the remain
ing commissioners shall elect successor frcm the
stockholders.
Thus done and passed at my Office in the City
IL New iberia, Parish of IBERIA State of Louis.
sna ON the day and date just above written in
the presence OF +. Bsuman and Melvin w.
Fisher, competent witnesses, who hereunt0 sign
thar names with appearers and me- notary after