New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-07-11

ty of any kind, whether real, personal or
mixed, corporal or inco1poreal, to have
ane appoint such managers, directors
and officers and agents and servants as
its business may require, and to make
aid establish as well as to alter and
amend from time to time such bylaws,
rules and regulations for the proper
management and government of the at
fair. OF said corporation as may be nee
esssry and proper, and generally to pos
sess all the powers hereinafter men
toned and that now are or may here
after be conferred by law or necessary
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 said
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, sal.
and other minerals, to develop, produce,
buy or sell same; to operate oil wells
mines, pipe lines, tank cars and all 9TH
er operations incidental thereto: to buy
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 OF
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
1t such time and place as may be ap-
proved by the directors and for securnz
the payment of said bonds or notes. &c
mortgage and pledge its property or as
sets or any portion of its property d
assets.
ARTICLE ~.
The capital stock Of this corporation
is hereby declared to be the sum of Two
Hundred Fifty Thousand Dollars
($25O.O000O), divided into one thousand
u,00O) shares of preferred stock Of the
par value of One Hundred Dollar,
($1OO.OO) each and Fifteen Hundred
(15OO) shares of common stock OF the
par value Of One Hundred Dollars
($1000o) each.
The preferred stock shall be interes'
bearing, the interest being six per centun
per annum and the same being also Gu
nulative. All earnings Of the corpora
:~sI ~le hal
ilv be dedicated to the payment Of this
interest; thereafter the preferred ani
common stock shall be on q parity and
participate equally in all dividends.
Said stock, both preferred and com
mon, shall be paid for in cash, OF on
such installments and after such no.
tees as the board Of directors may FIX
or may be issued in payment Of labor OF
services rendered or property, contracts
leases or options actually received by
said corporation.
In case Of the failure Of any subscriber
to ray the installments demanded on his
stock. as REQUIRED. the board Of directors
shat; have the option, after thirty days
written notice to Che delinquent. of
fo,feiting the stock with all the amounts
previously paid thereon, and no stock
hol 'er shall have the right to vote while
in default for unpaid installments due
on his stock.
This corporation may begin ito bust
ness and operations ~ soon ~ Ten
thousand Dollars ($10,000.00) of the
capital stock shall have been subscribed
and paid for.
All shares Of stock shall be fully paid
and non assessible. and transfers Of stock
shall not be binding upon said corpora
ton unless recorded upon its books .!
transfer.
No stakeholder shall be held liable OF
responsible for the contracts o, faults
Of said corporation in any further sun,
than the unpaid balance due on share.
Of stock owned by him; nor shall any
mere informality in organization have
the effect of rendering this charter null
or Of exposing a stockhoder to any
liability beyond the amount Of stock sub
scribed by him.
The subscription and stock book shall
be kept at the domicile and in the offic'
Of the CORPORATION, where certificates O.
stock shall be issued to the subscribers
and no transfer of stock shall be rec
ognized as valid and binding until tn
same is made upon the stock books of tn
corporation. Stock books shall be close
for the transfer of stock ten days be
/ fore election.
All subscribers to stock and all VIII
should acquire stock by purchase o
otherwise shall be deemed members =
this corporation.
| ARTICLE v.
The corporate powers of said corpora
ton shall be vested in and exercised an
the business and affairs of this corpora
ton shall be managed and conducted
a board of directors composed of fiv