New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-12-18


the sum OF One Hundred Dollars each,
which said stock shall be paid for in cash
at the time OF subscription, or the same
may be issued at not less than par in
payment or exchange for property or
rights actually received OF purchased by
said corporation; and the same may be
issued fully paid for money advanced or
for other valuable consideration or SER
vices as the Board of Directors Of said
corporation may determine, provided that
no stock shall be issued until the eonsid.
GRAFTON therefor has been received by
said corporation.
Every sale Of stock shall be made on
the books Of tie Company at its Office
and on the surrender of the certificate
therefor new certificates issued to the
proper holder thereof.
The Capital of this corporation may be
increased to Twenty Thousand Dollars.
This corporation shall commence doing
business - soon as Three Thousand Dol.
lars Of the Capital stock shall have been
subscribed and the proportion required
by law paid in. The Board Of Directors
ehall have the power to determine how
much additional stock shall be issued
within the limitations prescribed by
this Charter.
ARTICLE Nv.
The full corporate powers Of this cor
p0ration shall be vested in and exercised
by Board Of three Directors; provided
that in the exercise of the full corpor ate
rights in matters which extend beyond
the usual authority of the Board of Di-
rectors, it shall be necessary for all Di-
rectors TO concur in proposition. Upon
failure OF such a concurrence, the matter
shall be submitted to the stockholders in
the same manner as though the corporate
power had been reserved. From the Di-
rectors shall be elected President and
Secretary, who shall also be Treasurer.
The following persons each declaring
that he is the bona fiae holder of share
of stocb herein unpledged will constitute
the first Board of Directors: Emile Gaja
whose address is New Iberia, La, and
Charles A. Poirsou, whose Post Office ad
dress is Jeanerette, La, and G. A. Nc
Gowen. whose Post Office address is
Jeanerette La.
Charles A Poirson, Secretary Treasurer.
The said Board Of Directors shall con-
tirue in Office until the 1st day of Deem
Der, 1917. on which date and annually
thereafter, the Board of Directors shall
be elected; the meeting of the stockhold
ers being held at Two o'clock P. NJ.
the said day unless the same shall be a
holiday, when the election shall the fol-
lowing legal day thereafter; and the
Board of Directors so elected shall pro-
coed to the election of the officers herein
above provided for, who shall hold office
for one year.
Notice of the meeting of stockholders
for the purpose of said election and for
other purpose incident to the transaction
of corporate business shall be delivered
personally or by dspositing in the post.
office properly addressed to each stock
holder at least fifteen days before such
meeting. 80
The Board of Directors shall appoint
one stockholder TO preside at such cleo
ton as Commissioner. In event of the
failure of the Commissioner to attend, the
President shall by appointment fill the
vacancy.
Any failure from any cause whatever
to elect Directors the day named for the
purpose shall not dissolve the corporation
but the Directors in Office as we'll as the
other officers of said Company shall hold
over until their successors are chosen
In such event the PRECEDENT sh. II cause
another election to be held within thirty
days, giving the notice required by law.
At every election and meeting each
stakeholder shall be entitled to one vote
for each share of stock registered in his
name and may vote by proxy.
The election of Directors shall be by
ballot and 4 majority in amount of votes
cast, each share of stock voted upon to
count for one, shall elect the person or
persons for whom they have been cast.
After each election the Board of Direct
ors shall elect from their number the Of
ticers of this corporation. Vacancies
shall be filled for the unexpired term BY
the remaining members of the Board of
Directors.
ARTICLE v.
The Board of Directors shall frame and
adopt such bylaws and rules and regula-
tions as the affairs and the business Of
the corporation may require and as it may
deem necessary for tho conducting and
management therefor, providing the same
shall not conflict with this Charter or
with the laws of the State and the United
States. 1t shall appoint agents, employ.
ees, servants and clerk as it may deem
proper, fixing their compensation, term
of service, and Diminishing them at pleas
ure. It shall have the right to fix and de-
termine tho salaries of the several officers
herein provided for
ARTICLE vi.
In case of dissolution or termin alton Of
this contract either by limitation of its
Charter or from any cause, the liquida-
ton Of its affairs shall be conducted by
one hquidator selected by the stockhold-
ers with all the authority 9ranted by pro-
vision of Section 20 Act 267 of the Gener-
al Assembly of 1914.
Thus done and passed at my notarial
office in the Town of New Id 'ria, Parish
of Iberia, on this End day of December,
1915. in the presence of E. j. LeJeune
and C. C. Edwards, good and competent
witnesses, who hereunto sign their names
together with said parties and me, Nota-
nv, after due reading Of the whole.
Original Signed
F. GAJAN,... ......... "A Shares
CHas. A. POIRsON. 49,. IA Shares
G. A. MCGOWEN ............ Shares
Witnesses:
E. J. LEJEUNE,
~ ~ EDwARDS.