New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-07-18


and officers and agents and servants as
its business may require, and to make
and establish as we'll as to alter and
amend from time to time such bylaws,
rul.s and regulations for the proper
management and government of the af-
fairs OF said corporation as may be nee
essay and proper, and generally to pos
sess all the powers hereinafter men
toned and that now are or may here
afte1 be conferred by law or necessary
to promote its objects and interests.
ARTICLE II.
The don,icile 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
po1ation.
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, salt
and other minerals, to develop, produce,
buy or sell same; to operate oil wells.
mines, pipe lines, tank cars and all 9TH
e. 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 or
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
At such time and place as may be ap-
proved by the directors and for securing
the payment of said bonds or notes. 10
mortgage and pledge its property or as
sets or any portion Of its property or
assets.
ARTICLE ".
The capital stock of this corporation
is hereby declared to be the sum of Two
Hundred Fifty Thousand Dollars.
$3.50 100000, divided into one thousand
d.OO0) shares of preferred stock OF the
par value of One Hundred Dollars
($100.00) each and Fifteen Hundred
1500) shares of common stock of the
par value Of One Hundred Dollars
($100c0) each.
The preferred stock shall be interest
bearing, the interest being six per centum
per annum and the same being also Gu
mulative. AL earnings of tho corpora
ton available for dividends shall primar-
lily be dedicated to the payment of this
interest; thereafter the preferred and
Ii
participate equally in all dividends. =
Said stock, both preferred and COM
mon, shall be paid for in cash, or on
such installments and after such no.
tees as the board of directors NAV fix.
OF may be issued in payment of labor or
services rendered or property, contracts,
leases or options actually received by
said corporation 't-f -efr :
In case Of the failure of any subscriber !
to fay the installments demanded on his
stock. as REQUIRED. the board of directors
shall: have the option, after thirty days
written notice to She delinquent. of
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. l1sl o. f. 5gac,es
This eofpofation- may begin Ito bust :,
ness and operations as soon as Ten
Thousand Dollars $50, 00000) Of the
capital stock shall have been subscribed
and paid for ,, i
All shares Of stock shall be- fully paid /
and non- assessible. fand transfers of stock
shall not be binding upon said corpora
tion unless recorded upon its books Of
transfer.
No stakeholder shall be held liable of
for the contracts Tor faults
Of said corporation in, any, further sum !
than; the unpaid balance due on shares .
Of stock owned by him; nor shall any
~ ere, inforrnality in organization have
the effect offrendering this charter null
or of expdsing "a istockhoder to any
Liability beyond, the amount of stock sub,
scribed BY him. ~ ~ u
The subscription and stock book shaHj
be kept At the domicile and in the office |
Of the CORPORATION. where certificates Of
stock shall be issued to the subscribers,
and no transfer of stock shall be rec-
ognized as valid and binding until the
SouC ID Iudoc upOu tQc STOCK DOCKS SOf the |
corporation, Stock books shall be closed
for the transfer of stock ten. days be-
fore election. II =" nj
All Subscribers to stock and all who
should acquire stock by purchase or
otherwise shall be deemed members If
this corporation. -, 4
ra'a' r ARTICLE. " 80
= The corporate powers of said corpora
ton shall, be vested in and exercised and
the business and affairs Of this corpora
ton shall be managed and conducted bv't
board of directors composed of five
m embefs. 255r t. o.
Said directors shall be elected annual
~ on the first Monday Of June. II
OF each election ten days prior notice
shall be given in newspaper published
in the City of New iberia, and the d.
rectors thus elected shall serve. until their
successors shall have been elected al
majority of the votes cast shall elect and
each share of stock common or pre-
ferred, shall be entitled to ! one vote,
either in person or by proxy, for each
director. i
A failure TO elect directors on the day
required shall not dissolve the corpora
ton but the board of directors shall, con-
tinue to- their Office and another eIect;or