New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-07-25

mixed, corporal or incorporeal, to hav
anc appoint such managers, director
and officers and agents and servants a
its business may require, and to max
and establish as we'll as to alter an
amend from time to time such bylaw:
ru'.s and regulations for the propa
management and government of the at
fairs OF said corpora ton as may be nee
esssry and proper, and generally to DOS
sess all the powers hereinafter men
toned and that now are or may here
after be conferred by law or necessar,
to promote its objects and interests.
ARTICLE II.
The domicile of this corporation shall
be at New Iberia, Louisiana, where ser
vice of citation or other legal process
shall be made upon the president of sale
corporation or, in his absence, upon the
vice-president, or, in the absence of said
officers. upon the secretary of said cor
poration.
ARTICLE III.
The objects and purposes for which
this corporation is organized and found
ed and the nature of the business to De
carried on by it are hereby declared to be ::
To drill and exploit for oil, gas, salt
and other minerals, to develop, produce,
buy OF sell same; to operate oil wells,
mines, pipe lines, tank cars and all 9TH
er operations incidental thereto: to buv,
sell or lease lands or options on lands;
to borrow money, or to purchase and
lease property on its own credit. and as
evidence Of indebtedness of this CORPORA.
ton for such loans, or the purchase or
lease Of said property, to issue its cor
porate bonds or promissory notes bear
ing interest and made payable either in
United States currency or gold coin. and
At such time and place as may be ap-
proved by the directors and for securing
the payment Of said bonds or notes. 10
mortgage and pledge its property or as
sets or any portion of its property Or
assets.
ARTICLE ".
The capital stock Of this corporation
is hereby declared to be the sum of Two
Hundred Fifty thousand Dollars,
($250.000.00), divided into one thousand
O.00O shares of preferred stock of the
par value Of One Hundred Dollars
(s100.00) each and Fifteen Hundred
(15OO) shares of common stock of the
par value Of One Hundred Dollars
($10000) each.
The preferred stock shall be interest
bearing, the interest being six per centum
per annum and the same being also Gu
mulative. All earnings Of the CORPORA
lion available for dividends shall primar-
ly be dedicated to the payment of this
thereafter the preferred and
common stock shall be on q parity and
participate equally in all dividends.
Said stock, both preferred and COM
non, shall be paid for in cash, or on
'uch installments and after such no.
ices as the board Of directors may fix,
Y may be issued in payment Of labor or
erv:ces rendered OF property, contracts,
eases o. options actually received by
aid corporation. .,.- so l.
In case Of the failure Of any subscriber
o ray the installments demanded on his
rock, as REQUIRED. the board Of directors
hal; have the option; after thirty days ,
written notice to The DELINQUENT, of :
osfeiting the stock with all the amounts ,
,eviously paid thereon, and no stock !,
ol .er shall have the right to vote while :
a default for unpaid instailments due ;
n his stock.
This corporation may begin it, BUSH
ess and operations as soon a. Ten
thousand Dollars ($1000000) of the
apital stock shall have been subscribed .
nd paid for. j,
III shares Of stock shall be fullv paid .
nd non accessible. and transfers of stock .
hall not be binding upon said corpora :
on unless recorded upon its books Of :
'ansfer.
No stakeholder shall be held liable or :
.sponsible for the contracts or faults !:
said corporation in anv further sum !.
IAN the unpaid balance due on shares
stock owned bv him; nor shall anv
ere informality in organization have :
'e effect OF rendering this charter null +.
OF exposing a stockhoder to anv !
ability beyond the amount of stock sub
,ribed bv him. ::
The subscription and stock book shall !.
Kept at the domicile and in the office !,
the CORPORATION. where certificates Of +
ock shall be issued to the subscribers, =
nd no transfer of stock shall be rec :
gnized as valid and binding until the \
Inc is made upon the stock books of the :
'rporation. Stock books shall be closed
u the transfer of stock ten DAYS be- :
're election.
All subscribers to stock and all who =
aould acquire stock by purchase or
'herwise shall be deemed members f
lis corporation.
ARTICLE v. Z
The corporate powers of said CORPORA
on shall be vested in and exercised and
e business and affairs of this corpora
on shall be managed and conducted nv
board Of directors composed of five :,
embers. +
Said directors shall be elected annual
m the first Monday of June
OF each election ten days prior notice
all be given in newspaper published
the City of New iberia, and the d.
ctors thus elected shall serve until their
ceessors shall have been elected. A &c I,
ajoritv of the votes cast shall elect and !.
oh share of stock. common or pre- i
rred, shall be entitled to one vote. Z
her in person or by proxy, for each o. .,
rector o.
failure to elect directors on the dav
1ulred shall MT d;e.o1r> A. OF