New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-01-15

laws bearing upon the subj matter,
receiving goods on storage, issuing the
various receipts authorized therefor, max
ing charges for the sane.
ARTICLE Ill
! The capital stock of said corporation
shall be Five Thousand Dollars divided
into and repre- scented by Fifty shares of
the sum of One Hundred Dollars each,
which said stock shall be paid for IN cash
At he time OF subscription, or the same
may be ISSUED at not less than par in
payment OF exchange for property OF
rights actually received OF purchased 10y
said corporation; and the same may be
issued fully paid for money advanced or
f0t other valuable consideration or ser
vices as the Boa,d OF Director, of said
corporation may determine, provided that
no stock shall be issued until the consil-
Grafton therefor has been received by
said corporations.
Every sale Of stock shall he made on
The books of tie Company at its flise
and on the surrei der of the certificate
therefor new certificates issued to tn.
proper holderthereof
The Capital Of this corporation may be
increased to Twenty thousand Dollars
TINS cooperation shall commence doing
business as soon as Three Thousand Dol
lars of he Capital stock shall have been
subscribed and the proportion required
by law paid in. The Board of Directors
sha'l have the power to determine how
much additional stock Shall be issued
WITHIN the limitations prescribed by
this Charter. q
ARTICLE ".
The full corporate powers of this cor
poration shall be vested in and exercised
bv u Board of three Directors; provided
that III the exercise of the full corporate
rights in matters which extend beyond
he usual aut hOrity of the Board of III
rectors it shall be necessary for all Di
rectors to concur il proposition. Upon
failure OF such concurrence, the matte,
shall be submitted to the stockholders H.
the same manner AS though the corporate
power had been reserved. From the d.
rectors shall be elected PtesId.n, md
Secretary, who shall also be Treasurer.
The following persons each dec 'aring
that he is the bona tiae holder Of 81 share
OF StocI herein unpledgpd will constitute
the first BOARD of Directors: Emile Gajan,
whose address is New IBERIA La. ano
Charles A. POiSsou, whose Post Office Nd
dress Is Jeanerttte, La, and &. A. Nc
Gowen. whose Post Office address j.
Jeanerette La.
Emile Gajsn shall be President and
Charles PoiIson, Secretary Treasurer
The said Board Of Directors shall con
tinue IN Office until the lst day OF Deem
Der, 1917, on which date and annual,
thereafter, the Board of Directors sha,l
hn Ipr f.I. ha Of r
ers being held at Two O'Clock z, N. o.
The said day unless the same shall be -
holiday, when the election shall the fol-
towing legal day thereafter; aud the
Board of Directors so elected shall pro
ceed to the election of the officers herein
above provided for, who shall hold Office
for one year. q
Notice of the meeting of stockhc,y9 rs
for he purpose of said election and TO,
other purpose incident to the transaction
of corporate business shall be deiv6 9d
personally or by depositing in the post.
office properly addressed to each stock
holder at least fifteen days before such
meeting.
The Board of Directors shall appoint :
one stakeholder to preside at such eec-
ton as Commissioner. In event of IN.
failure Of the missioner to attend, the
President shall by appointments fiji 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 tn.
other officers of said Company shall hole |
over until their successors are chosen |
In such event the President sh il caus. |
another election to be held within thirt, |
days, giving the notice requr. by law
At every election and meeting each |!
stockholder 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 he ty |
ballot and ma ority in amount of votes |
east, each share of stock voted Il. on t. |
persons for whom they have been east
After each election the Board Of Direct
ors shall elect from their nun Der the Of !
icers of this corporation. Vacancies
shall be filed for the unexpired term b,
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
I he corporation may require and Ms il may
deem necessary for the conducting and
therefor, providing the same
shall not conflict with this Charter or
with the laws of the State and the United
- ates. It shall appoint agents, employ.
eos, servants and clerk as it may deem
proper, fixing their compensation, term
of service, and Diminishing them at pleas
ure. II shall have the right to fix and de-
termine the salaries of the several officers
herein provided for
ARTICLE VI.
In case Of dissolution or termination OF
this contract either by limit alton of it's
{ harter or from any cause. the liqnida
ton of it's affairs shall be conducted by
one liqnidstor selected by the stockhold
ers with all the authority or nted by pro-
vision of Section 90 Act 267 of the Gener-
al Assembly of 1914.
Thus done and passed at my notarial
off ce in the Town of New ID ria, Parish
Of Iberia. on This 2nd day of December,
1918. in the presence of + J. LeJeune
and c. C.. Edwards, good and competent