New Iberia enterprise and independent observer., 1914-04-11
ARTICLE TIT

ton shall be Three Thousand Dolla,
o ($3,OO0.O0), divided into Thirty Share
n of the par value of One Hundred Dollar
e (S1O0.0O) each, which stock shall
paid for in cash at the time of sub
scription, or the same may be issued a
not less than par in payment or exchang
tor property or rights actually receive
or purchased by said corporation, or tn
same may be issued, full paid, for none
3 advanced, or for such other valuable con
sldeTation or services as the Board o
Directors of said Corporation may de-
termine; provided that no stock shall
be issued until the consideration there
for has been received by the said cor.
poration.
No transfer of stock of said corpora.
ton shall be recognized unless suct
transfer thereof shall have been made
on the books of the corporation on the
surrender of the certificate therefor.
This corporation shall commence do
ing business, as soon as all of the car
ltal stock shall have been subscribed for
ARTICLE ".
The corporate powers of this corpora
ton shall be vested in and exercised by
Board of Three (3) Directors, elected
from among the stockholders, consisting
of the President, Secretary and one
Stakeholder. A majority of said Board
shall constitute a quorum for the trans
action Of business
| The following named persons are de-
clared to be the incorporators of this
Company as follows: Julien T. Ewes
twenty Eight shares; Mrs Mary Y.
Ewes One O share and Alexander P.
Ewes, One (1) share. And the said in
corporators shall constitute the First
Board of Directors, with Julien T. Ewes
as President and Alexander P. Ewes as
Secretary. They shall hold their offices
until their successors have been duly
elected. The Directors are to be elected
annually, on the Third Tuesday of jan
uary Of each year, by ballot at the office
of tho said corporation, under the super
vision of one commissioner to be ap-
pointed by the President, after ten days
written notice to the stockholders Each |
:s:-= ct :tcck =k:!! be entitled to one
vote, in person or by proxy, and a ma
jority of the votes cast shall elect Any
vacancy on the Board of Directors shall |
be filled for the remainder of the year
by election by the remaining directors
A failure to elect directors on the
date specified, shall not dissolve this coz
poration, but the directors then in office
shall remain in office until their sue
cessors are elected, and they shall, as
soon as possible cause an election to be
held as above provided. At the first
meeting following their election, they
shall elect one of their number to be
President and another to be Secretary.
ARTICLE V.
The said Board of Directors shall have
full control and management of the prop
erty, business and affairs of this corpo-
ration and shall conduct, manage and
use the same as in their discretion thew
leem fit, and as is consistent with the
objects of this corporation.
The Board of Directors is authorized
o frame and adopt such bylaws, rules
ind regulations as the affairs and bus
ness of the corporation may require,
md as it deem necessary for the con-
uct and management thereof.
The said Board shall elect or appoint
II agents, employees, servants and clerks
$ it may deem necessary for the con-
uct of the business of this corporation,
TX their compensation, term of service,
nth the right to dismiss them at said =
'oards pleasure; and said Board shall
ave the right to fix and determine the c
alaries of the several officers herein pro- !.
ided for. =
ARTICLE vi. 1
This charter may be changed, modified 8
r amended, the capital stock increased Il
r decreased by compliance with the a
ormalities of law, or this corporation L
lay be dissolved at a general meeting a
the stockholders convened for the
urpose, with the assent of three-fourths Il
the entire subscribed capital stock,
neither present or represented at said :, -
eeting. u utt
Notice Of such meeting shall be given O.
? at least thirty days continuous publi- \,
tion Immediately preceding said meet =,
g in one of the newspapers published .,
the City of New Iberia, Louisiana. b,
In case Of dissolution or termination ! "
this corporation, either by limitation ct
its charter, or from any cause, the 50
luidation of its affairs shall be con- fr
cted by three commissioners selected tr
om the stockholders, with like assent ca
d at meeting called for that purpose r
above set forth in this article. n
Said commissioners shall remain in ga
ice until the affairs of said corporation -,
all have been fully liquidated. In case
the death of one or more of said COM pe
ssioners, the survivors or survivor shall 70 70
ntinue to act. ~
ARTICLE VII. ""
No stockholder of this corporation shall A
r be held liable or responsible for
. contracts or faults thereof in any
'ther sum than the unpaid balance due -
. corporation on the shares of stock
oscribed for or owned by him; nor
Ill any informally in organization
re the effect of rendering this char
null or of exposing a stockholder to
? liability beyond the unpaid balance,
any, of his stock
Thus done and passed at my office in
City of New Iberia, Parish of Ibe-
Louisiana, on the day and date
we given, in the presence of Maurice I
liand and William Bauman witnesses. an
0 have signed as such with me, Notary Cne