New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-04-18
ARTICLE III.

($1OOOO) 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, or the
same may be issued, full paid, for money
advanced, or for such other valuable con-
sideration or services as 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 cap
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
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 % 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 ap-
pointed by the President, after ten days
written notice to the stockholders. Each
share &C :.cck shall be entitled to one
vote, in person or by prsxy, and 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
President and another to be Secretary.
ARTICLE v.
The said Board of Directors shall have
full control and nagement of the prop
erty, business and affairs of this corpo-
ration and shall conduct, manage and
use the same as in their discretion thew
deem fit, and as is consistent with the
objects of this corporation.
The Board of Directors is authorized |
to frame and adopt such bylaws, rules
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
all agents, employees, servants, and clerks
as it may deem necessary for the con-
duct of the 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-
vided for.
ARTICLE vi.
This charter may be changed, modified
or amended, the capital stock increased
or decreased by compliance with the
formalities of law, or this corporation
may be dissolved at a general meeting
of the stockholders convened for the
purpose, with the assent of three fourths
of the entire subscribed capital stock,
present or represented at said
Notice of such meeting shall be given
by at least thirty days continuous publ
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
Of its charter, or from any cause, the
liquidation of its affairs shall be con-
Quoted by three commissioners selected
from the stockholders, with like assent
and at meeting called for that purpose
IS 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
nissioners, the survivors or survivor shall
continue to act
ARTICLE VII.
No stakeholder of this corporation shall
.ver be held liable or responsible for
he contracts or faults thereof in any
further sum than the unpaid balance due
he corporation on the shares of stock
subscribed for or owned by him; nor
shall any informally in organization
,ave the effect of rendering this char
er null or of exposing a stakeholder to
my liability beyond the unpaid balance,
f any, of his stock. !,
Thus done and passed at my office in
he City Of New iberia, Parish of Ibe- I
ia, Louisiana, on the day and date
lbove given, in the presence of Maurice I
5alliand and William Bauman witnesses.
Who have signed as such with me, Notary
fter due reading Of the whole.
Witnesses: +.
M. Calliand,
w. p.v~n.u