New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-04-04
nARTYcI.E TIL

|
($3,000.O0), divided into Thirty Share.
of the par value of One Hundred Dollars
($100.O0) each, which stock shall b,
paid for in cash at the time of sub
scription, cor the same may be issued a
not less than par in payment or exchang,
for property or rights actually receive,
Tor purchased by said corporation, or tn,
same may be issued, full paid, for money
advanced, or for such other valuable con-
sideration 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 such
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 CAP
ital stock shall have been subscribed for
ARTICLE ~.
The corporate powers of this corpora
tion shall be vested in and exercised by
a 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 On share and Alexander P.
Ewes, One On 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 the said corporation. under the super
vision of one commissioner to be up
pointed by the President, after ten days
written notice to the stockholders. Each
share sc ~..c:k -sh.ll Re 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 cor
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
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 ana
use the same as in their discretion thcv
deem tit, and as is consistent with the
objects of this corporation.
The Board of Directors is authorized
to frame and adopt such bylaws, rules
and regulations as the affairs and bus
mess of the corporation may require, |
and as it deem necessary for the con-
duct and management thereof.
The said Board shall elect or appoint
al agents, employees, servants, and clerks
As it may deem necessary for the con- /
duct of tho business of this corporation,
Fix their compensation, term of service,
with the right to dismiss them at said |
Boards pleasure; and said Board shall |
have the right to fix and determine the
salaries of the several officers herein pro-
iided for.
ARTICLE VI.
This charter may be changed, modified
u amended, the capital stock increased
u decreased by compliance with the
.ormalities Of law, or this corporation
nay be dissolved at a general meeting
# the stockholders convened for the
purpose, with the assent Of three-fourths
# the entire subscribed capital stock,
whether present or represented at said
meeting.
Notice of such meeting shall be given
" at least thirty days continuous publ
alton Immediately preceding said meet
ng in one of the newspapers published
n the City of New iberia, Louisiana.
In case Of dissolution or termination
f this corporation, either by limitation
+ its charter, or from any cause, the
iquidation of its affairs shall be con-
ucted by three commissioners selected
rom the stockholders, with like assent
nd at meeting called for that purpose
s above set forth in this article
Said commissioners shall remain in
ffice until the affairs of said corporation
hall have been fully liquidated. In case
the death Of one or more of said COM
,issioners, the survivors or survivor shall
ontinue to act. II
ARTICLE VII.
No stakeholder Of this corporation shall
YER be held liable or responsible for 1
,e contracts or faults thereof in any
1rther sum than the unpaid balance due
he corporation on the shares of stock
for or owned by him; nor
hall any informality in organization
ave the effect Of rendering this char
y null or Of exposing . stakeholder to
ny liability beyond the unpaid balance,
any, Of his stock.
Thus done and passed At my office in
,e City Of New Iberia, Parish Of Ibe-
q, Louisiana, on the day and date :
oove given, in the presence Of Maurice :
alliand and William Bauman Witnesses.
no have signed - such with me, Notary
l. e IL