New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1914-06-27

anc 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
essay 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 DC
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
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
1t such time and place IS 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 OF 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.
(s2so,00o.00), divided into one thousand
$4,000 shares Of preferred stock Of the
par value of One Hundred Dollars
($100.00) each and Fifteen Hundred
(1SO0) shares Of common stock Of the
par value Of One Hundred Dollars
{$10000) each. s. ,r.7to. t..
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-
lily be dedicated to the payment Of this
interest; thereafter the preferred and
common stock shall be on . parity and
participate equally in all dividends.
Said stock, both preferred and com
mcn shall be paid for in cash, or ON
such installments and after such no.
tees as the board Of directors may fix.
or may be issued in payment Of labor or
services rendered or property, contracts,
leases or options actually received by
said CORPORATION. rAtu ..4-stt t
In case Of the failure of any subscriber
TO ray the installments demanded on his
stock. as required. the board of directors
shall; have. the option, after thirty days
written. notice to Che delinquent. of
FORGETTING the stock with all the amounts
previously paid thereon, and no stock
h6l 'ef shall have the right to vote while
in default for unpaid installments due
on his stock. r...xt ~ ..4e
This, corporation may begin its BUSH
ness and operations % soon % Ten
Thousand Dollars i($1O, O000O) of the
capital stock shall have been subscribed
and paid for, ,
All shares Of stock shall be fully paid
snd non asssssibie, snd trahsfers Of stock
shall not be binding upon said corpora
ton unle1s recorded upon its books Of
tfansfer. u'.,.f-...-, -,
No stakeholder shall be held liable or
responsible for the contracts or faults
Of said corporation in any further sum
than the unpaid balance due on shares
Of stock owned by him; nor shall any
mere informality in Organization have
the effect Of rendering this charter null
Or Of exposing stockhoder to any
liability beyond 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 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
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 who
should acquire stock by purchase or
otherwise shall be deemed members #
this corporation.
ARTICLE v.
= 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 by |
board of directors composed of five
members. 49, r--a
Said directors shall be elected annual.
ly on 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 their
successors shall have been elected. A
majority of the votes cast shalt elect and
each share of stock, common or pre-
ferred, shall be entitled TO-, one vote.
either in persdh or by PROXY, for each
director afs ~. frs
A failure TO elect. directors on the dav
Al ALAn