New Iberia enterprise and independent observer., 1914-07-04

ty of any kind, whether real, personal OF
mixed, corporeal OF 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
rules and regulations for the proper
management and government of the af-
fairs 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
afte, 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 oe
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 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
tion 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
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
(s25O,OO0OO), divided into one thousand
Il 1,OOO) shares of preferred stock OF the
par value of One Hundred Dollar.
($1000O) each and Fifteen Hundred
(1500) shares of common stock of the
pa. value Of One Hundred Dollars
($1000O) each.
The preferred stock shall be interest
bearing, the interest being six per centum
per annum and the same being also Gu
.nulative 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 a 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.
tices as the board of directors NAV fly.
or may be issued in payment of labor or
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
seock as required. the board of directors
shat; have the option, after thirty days
written nosice to the 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 its busi-
ness and operations as soon as Ten
Thousand Dollars (s1O,000.OO) of the
capital stock shall have been subscribed
and paid for.
All shares of stock shall be fullv paid
and nom assessible. and transfers of stock
shall not be binding upon said corpora
ton unless recorded upon its books Of
transfer.
No stockholder shall be held liable OF
responsible for the contracts or faults
of said corporation in anv further sum
than the unpaid balance due on shares
Of stock owned by him; nor shall anv
mere informality in organization have
the effect of rendering this charter null
or of exposing stockhoder to anv
liability bevond the amount of stock sub
scribed by him.
The subscription and stock book shall
be kept at the domicile and in the office
OF the cornoration. 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
same is made upon the stock books of the
corporation. Stock books shall be closed
for the transfer of stock ten days be-
fore election.
All subscribers to stock and all WI
should acquire stock by purchase o,
otherwise shall be deemed members 4
this corporation.
ARTICLE v.
The corporate powers of said corpora
tion shall be vested in and exercised ant
the business and affairs of this corpora
tion shall be managed and conducted bv
board of directors composed of five
members.
Said directors shall be elected annual
ly m the first Monday of June
Of each election ten days prior notice
shall be given in a newspaper published
in the City of New iberia, and the d.
rectors thus elected shall serve until theil
successors shall have been elected. 4
majority of the votes cast shall elect anc
each share Of stock. common or pre.
ferred, shall be entitled to one vote
either in person or by proxv. for eacl