New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1916-10-14

a.
for such property as may be authoriz -
by law and made in conformity with
legal provisions. The capital stock m ay
IN the manner prescribed by law be IN
creased to the sum of One Hundred and
FIFTY Thousand Dollars. The said corr
Grafton shall begin business as soon As
Twenty-Five Thousand Dollars of the
ca-ital stock have been subscribed for
ana the amount required by law shal!
have been paid in.
And now this corporation intending to
| acquire the dredging business and the
| dredges of Anglers & Mestayer, part
nership composed of Lewis Anglers and
Percy Mestayer, domiciled in the City OF
New Iberia. Parish of Iberia, State o.
LOUISIANA, and also a certain dredge beat
belonging individually to the said Percy
Mestayer, and to issue stock for said bus
mess and said dredge boats. there is at
tached and annexed hereto, and to be
read IN connection with this Charter, an
accurate detailed and itemized descrip-
ton of said property, together with a
statement of its value as appraised by
the Directors, and in conformity with
Section Three of Act 267 of the General
Assembly of the State of Louisiana Of
the year 1914.
ARTICLE v.
All of the corporate powers of said
corporation shall be vested in and exer-
cised by and all the business affairs of
this corporation shall be managed, con-
Quoted and operated with full, complete
and plenary authority by Board of Di-
rectors composed of three 80 members
to be annually elected on the second
Monday of September of each year All
such elections shall be by ballot and 4
of this corporation, for this purpose,
shall be given in the manner required
by law. The Directors elected shall con-
tinue to hold their office until their sue
ccssors shall have been elected and in
stalled, and any vacancy occurring in
the Board of Directors, from any cause
whatever, shall be filled by election Of
The rem alning Directors for the unex
PRED term. All stockholders meetings
the provisions cf ,aw. Tive Directors
shall constitute quorum for the trans
action OF business.
There shall be President, Vice
President and Secretary Treasurer
elected annually by the Board of Di-
rectors, and until the first annual meet
ing on the second Monday of Septembei
1917 of the stockholders as herein pro-
vided for, the following stockholders
shall constitute the Board of Directors, to-
wit: Lewis Anglers, whose Post Off,e
address is New Iberia, La, who shall act
as President; Norbert Mestayer, whose
Post office address is New Iberia, La,
who shall act as Vice President; and
Percy Mestayer, whose Post office adj
dress is New Iberia, La, who shall act
as Secretary Treasurer.
Director may be represented at any
Board meeting by proxy, provided the
other two Directors are personally |
present.
Upon unanimous vote of all of the Di-
rcctors the Board of Directors may be
increased to five members, the addi-
tional members being elected by the
Board of Directors to serve until the
next election by the stockholders; at
which meeting the stockholders NAV
MAINTAIN the number of Directors at five.
" reduce the number to three as herein
provided for. In the event that the
3oard OF Directors is increased to five
r embers, - herein provided for, then
hree shall constitute a quorum, and two
directors may be represented by proxy
It any meeting of the Board.
ARTICLE vi.
Notice of all meetings of stockholders I
or election of Directors OF any other
purpose shall be given conformably
o Sec. 10 of Act 267 of 1914, under the
PROVISIONS of which this corporation is
rganized, and said meeting shall be at
ended by all of the formalities and re-
uirements prescribed by said section of
aid Act.
ARTICLE VII.
No stakeholder shall ever be held liable
responsible for the contracts, faults or
ebts OF this corporation in any other
UNI than the unpaid balance due for the
took subscribed to by him, nor shall
ny informality in the organization of
ais corporation have the effect of render
'g this Charter null, or of exposing any
Fockholder to any liability beyond the
alance due upon his stock
ARTICLE VIII.
This act of incorporation may be al
red, amended or modified by a vote Of
vo-thirds in amount of the capital
ock represented At any meeting called
u that purpose, after due notice has
zen given as provided for in this act.
The capital stock of this corporation
ay be increased to any amount up 10
5O,OOOOO( one hundred and fifty thou
md dollars) at a meeting of the stock
'lders called for that purpose after
with all of the formalities
rein set forth for stockholders meet
g, upon the affirmative vote of three
urths of all of the outstanding stock
ID further upon a compliance with the
rmalities prescribed by law. .
This corporation NAV be dissolved and