The weekly Iberian. (New Iberia, La.) 1894-1946, 1918-01-19

desire; and in the interest of said bu-
siness, to make such advances as are
required; and to carry out the purpo-
ses hereof, II shall have power to re
ceive security by way of mortgage or
pledge, and 10 borrow money and is
sue notes and to secure the same by
mortgage, pledge or otherwise; to
lend money. and make advances based
upon crop securities or such other Sc
curities as may be deemed desirable;
10 own and operate any factory or
plant for the purpose of converting
featured articles of any nature what
ever.
ARTICLE ".
The capital stock of this corporation
Ia hereby declared to be the sum Of
Ten Thousand A$l0, 600. 00-Doliars,
divided into one -I00-shares
of the var value of One Hundred
800 .00-Dollars per shares. Said
stock to be paid form cash, or in ex-
change for such property as may be
authorized by law and, made in con-
formity with legal provisions.
The capital stock may be increased,
in the manner prescribed by law, to
the sum of Twenty-five-S25. 900 90
Dollars.
Said corporation shall begin bust
ness as soon as Ten Thousapd-$ $4,000. :
00-DOllars Of the capital stock shall
have been subscribed aud the sum of
Ten Thousand-$10,0 600. 0O-Dollars
shall have been paidfor.
ARTICLE
The corporate powers of this cor
poration shall be vested IN and exer-
cised by, and all the business affairs
of this corporation shall be managed
and conducted BY a Board of Direc-
tors, composed of three-3-members
to be annually elected on the second
Wednesday of February of each year.
From the said directors there shall be
elected annually, President. Vice
President and a Secretary-Treasure
Of the said corporation. The follow
ing persons shall constitute the first
Board of Directors, to. wit:-Gustave
BONN, Jr., George M. Germany and
John II. Valet.
Until the election to be held on the
second' Wednesday of February, 1919,
The following shall be the officers of
this Gustave BONN, Jr. :,
President; John II. Valet, Vice-Pres-
ident; and George M. Germany, Secre-
tary-Treasurer. Any vacancy on the
Board of Directors shall be filled by
the remaining members of the Board
for the unexpired term. Any vacancy
in any Office shall be filed by the Di.
rectors for the unexpired term.
Notice Of stockholders meetings
must be delivered personally or by
depositing same ia the post office, pro.
perly addressed to each stakeholder,
at least ten--l0-days before such
meeting. Other stockholders meet.
ings may be held when ordered by the
Board of Directors or the holders of at
least thirty three and e-th1rd-33.
per cent of the outstanding stock.
Failure from any cause to elect di-
rectors on the day named for the pur-
pose, will not dissolve this corpora
ton, but the directors in Office, as we'll
as the other officers of this corpora.
ton, shall hold over until their sue.
cessors are chosen. In such event the
President shall cause another election
to be held within thirty-3O--days
and at date and hour named by him.
giving the notice to the stockholders
as required by law.
At every election and meeting, each
stock holder shall be entitled to one
vote for each share of the capital stock
OF the corporation standing in his
name. ane he may vote such stock by
written proxy given to any other per-
son to represent him at such meeting
The election of Directors shall he
by ballot add the majority of the
amount of votes shall elect the person
or persons Tor whom they have been
cast.
ARTICLE vi.
The Board of Directors shall frame
and adopt such by laws and rules and
regulations as the affairs and the bu-
siness OF the corporation may require.
and as 1t may deem necessary for the
proper management, provided, the
same shall not Conflict with this chart.
er or with the laws of the State Of
Louisiana, and OF the United States.
Ii shall appoint agents, EMPLOYEES.
servants and clerks as it may deem
proper, fixing their compensation.
Ii shall have the right to fix and de.
termine the salaries of the several of.
hcers herein provided for.
ARTICLE VII.
No shareholder shall ever be held
liable or responsible for the contracts
or faults of this Corporation in any
further sum than the amount of his
indebtness TO the Corporation; nor
shall any mere informaiity in orpani.
cation have the effect of rendering
this act null, or ofIexposlng any share.
holder to any liability beyond the
amount of his or her shares.
ARTICLE VIII.
This corporation shall have. epioy
and exercise all the rights. priv |
leges and immunities granted by Act
267 of the Acts OF the General Assem-.
bly, of the State OF Louisiana. in the
year 1914, and all amendments to said
act, and this charter may be changed.
or annulled, or this corpora.
ton dissolved, under the terms and
conditions and in accordance with
said act number 267.
ARTICLE
The name and postoffice address of
the subscribers to these articles of in.
and the number OF shares
which each Of its stockholders hereby
agree to take and pay, appear oppo-
site their respective signatures.
THUS DONE AND PASSED. at Lo-
reauville, in the Parish of Iberia.
State of Louisiana. in the presence OF i
Messrs. F. O. Darby and Berth Mes
layer, good and competent witnesses.
who have signed these presence, to.