New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-03-28
ARTICLE III.


, (S1OOOO) each, which stock shall be
paid for in cash at the time OF sub
scription, or the same may be issued at
not less than par in payment or exchange
for property or rights actually received
or purchased by said corporation, OF the
same may be issued, full paid, for money
advanced or for such other valuable con-
sideration or services the Board Of
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 car
ital 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
Stockholder A majority of said Board
shall constitute 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 ~ share and Alexander z.
| Ewes One ~ 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 ap-
pointed by the President, after ten days
written notice to the stockholders. Each
, share &c ..cck =L:ll BE entitled to one
vote, in person or by proxy, and ma
6 FORTY 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 co.,
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
b 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 they
deem fit, and as is consistent with the
objects of this corporation.
The Board of Directors is authorized
h to frame and adopt such bylaws, rules
d and regulations as the affairs and bus
- mess of the corporation may require,
and as it deem necessary for the con-
d duct and management thereof.
,e The said Board shall elect or appoint
r all agents, employees, servants, and clerks
d as it may deem necessary for the con-
re duct of the business of this corporation,
n fix their compensation, term of service,
J. with the right to dismiss them at said
,f Boards pleasure; and said Board shall
,. have the right to fix and determine the
70 salaries of the several officers herein pro-
a vided for.
:: ARTICLE vi.
~ This charter may be changed, modified
:. or amended, the capital stock increased
:. or decreased by compliance with the
N formalities of law, or this corporation
= may be dissolved at general meeting
!. of the stockholders convened for the
!. purpose, with the assent of three-fouxths
\ of the entire subscribed capital stock,
. whether present or represented at said
meeting.
- Notice of such meeting shall be given
" by at least thirty days continuous publ
he cation Immediately preceding said meet
!; ing in one of the newspapers published
~ in the City of New Iberia, Louisiana.
-; In case of dissolution or termination
! of this corporation, either by limitation
"a of its charter, OF from any cause, the
-. liquidation of its affairs shall be con-
:. Quoted by three commissioners selected
-, from the stockholders, with like assent
-, and at a meeting called for that purpose
- as above set forth in this article,
=. Said commissioners shall remain in
- office until the affairs of said corporation
shall have been fully liquidated. In case
of the death of one or more of said COM
- missioners, the survivors or survivor shai!
80 continue to act.
III ARTICLE VII.
49, No stakeholder of this corporation shan
ever be held liable or responsible fo'
- the contracts or faults thereof in any
49, further sum than the unpaid balance dus
w., the corporation on the shares of stock
-. subscribed for or owned by him; n"
shall any informality in organization
H., have the effect of rendering this cnai'
+.r ter null or of exposing stakeholder y
I'D any liability beyond the unpaid balsnes'
Tho if any, of his stock. !.
Thus done and passed at my offcs
~. the City of New Iberia, Parish OF iDs
con ria, Louisiana, on the day and =.
w. above given, in the presence OF MsuA.
~ Galliand and William Bauman witness1
49, who have signed as such with me, N0''''
=; after due reading of the whole
Witnesses: -