New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-08-01

ty of any kind, whether real personal or
mixed, corporal or incorporeal, to have
anG appoint such managers, directors
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,
ru'.s and regulations for the proper
management and government of the sf
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 pc
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
er operations incidental thereto: to buv
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
acts or any portion of its property Or
issets.
ARTICLE ~.
The capital stock Of this corporation
i. hereby declared to be the sum of Two
Hundred Fifty Thousand Dollars.
($25O000O0 divided into one thousand
10000 shares of preferred stock OF the
par value of One Hundred Dollar,
($1000O) each and Fifteen Hundred
(1500) shares of common stock of the
mar valve Of One Hundred Dollars
($100OO) each.
The preferred stock shall be interest
bearing, the interest being six per centum
per annum and the same being also Gu
mulative. All earnings Of the corpora-
ton available for dividends shall primar-
ilv be dedicated to the payment Of this
interest; thereafter the preferred and
common stock shall be on 4 parity and
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.
or may be issued in payment of labor or
services rendered or property. contracts
leases OF options actually received by
said CORPORATION.
In case Of the failure Of any subscriber
to ray the installments demanded on his
srock as required, the board Of directors
shat; have the option, after thirty days
written notice to THE DELINQUENT. of
FORGETTING the stock with all the amounts
pl evicusly 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 its bust
ness and operations as soon rs Ten
Thousand Dollars ($1O,OO0.O0) of the
| capital stock shall have been subscribed
and raid for.
All shares of stock shall be fullv maid
and non assessible. and transfers of stock
shall not be binding upon said corpora
ton unless recorded upon its books Of
transfer.
No stakeholder shall be held liable ~
responsible for the contracts or faults
Of said corporation in anv further sum
than the unpaid balance due on shares
Of stock owned bv him; nor shall any
mere informalitv in organization have
the effect of rendering this charter null
or of exposing a stockhoder to anv
liability bevond the amount of stock sub
scrihed bv him.
The subscription and stock book shall
be kept at the domici'e and in ~" 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 TIL
corporation. Stock books shall be coset
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 b
a board of directors composed of fiv
members.
Said directors shall be elected annual
ly on the first Monday of June.
OF each election ten DAYS prior motto
| shall be given in a newspaper pubishe
, in the CITY of New iberia. and the ii
rectors thus elected shall serve until thei
successors shall have been elected.
maioritv of the votes cast shall elect an
; each share of stock. common or pre-
: ferred, shall be entitled to one vot.
either in peYcnn or hv prnyv foy e,r