New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1919-02-22

such canals with the necessary water 70
Hrgating purposes and to buy and ope
rate harvesting and threshing machinery
and shall for such purposes have frl
power to exercise any right of Eminen
Domain that might be given by Law +
corporate body of this character, to pur
chase and own, or lease, real estate, ma
lchinery necessary and convenient to carr,
on said business, to pledge or mortgage
sell or exchange same, to fix tariff or not,
OF charges for draining or irrigating lands
threshing and harvesting rice, and gen
orally, to make and enter into any and
all contracts in relation TO said business
that may become necessary.
ARTICLE ".
The capital stock of this corporation Is
hereby fixed at the sum of Five Thou
sand t$5OOO) Dollars, represented by
FIFTY $50 shares of the par value of One
Hundred ($100) Dollars, or in exchange
for such property as NAV be authorized
by law and made in conformity with
legal provisions.
| The capital stock may be increased, in
the manner prescribed by law, to the SUN
of Fifteen Thousand ($15,OoO) Dollars.
Said corporation shall begin business
as soon as Five ThousandO $4,000 Dol
lars of the capital stock shall have been
subscribed and the sum of Five Thou
sand ($5OO0) Dollars shall have been
paid for.
ARTICLE v.
The corporate powers of this corpora
ton shall be vested in and exercised by,
and all the business affairs of this cor
portaion shall be managed and conducted
by Board of Directors, composed of
Three 80 members to be annually elected
on the Third Tuesday Of January of each
year From said Directors there shall lie
elected annually, President, Vice Pres
ident, and a Secretary Treasurer, of the
said corporation. The following persons
shall constitute the first Board of Di-
rectors, to-wit: J. E. Schwing, J. A.
Goodwin, and Miss Louise Banchet
Until the election to be held on the
third Tuesday of January 1919, the fol- |
lowing shall be the officers of this cor
poration: J. E. Schwing, President; j. |
A. Goodwin, Vice President and Miss
Louise Blanchet, Secretary Treasurer
Any vacancy on the Board Of Directors
shall be filled by the remaining members |
of the Board for the unexpired term. |
Amy vacancy in any office shall be filled |
by the Directors for the unexpred term.
Notice of stockholders meetings must
be delivered personally or by depositing
same in the post-office, properly addressed
to each stakeholder, at least Ten Q0) |
days before such meeting. Other stock
holders meetings may be held when
ordered by the Board of Directors or the
holders of at least Twenty Five per cen,.
Of the outtanding stock.
Failure for any cause to elect dircc-
tors on the day named for the purpose,
will not dissolve this corporation, but the
directors in office, as well as the other Of
ficers Of this corporation, shall hold over
until their successors are chosen. In
such event the President shall cause
another election to be held within Thir.yl
1907 days and at date and hour named
BY him, giving the notice to the stock
holders as required by law.
At every Lection and meeting, each
stakeholder shall be entitled to one vote
for each share of the capital stock of the
corporation standing in his name, and
1e may vote each stock by written proxy
given to any other person to represent ,
him at such meeting. II
The election of Directors shall be byI
,allot and the majority of the amount .
# votes cast shall elect the person or per- (
ons- for whom they have been cast. II
ARTICLE VI. 8
The Board of Directors shall frame
md adopt such bylaws and rules and
equations as the affairs and the business $
I the corporation may require, and as il |
nay deem necessary for the proper man
cement, provided, the same shall not
onflict with this charter or with the laws o
+ the State of Louisiana, and of the
United States. 1t shall appoint agents, !,
mployees, servants and clerks as il msyI !,
eem proper, fixing their compensation.
shall have the right to fix and determine
he salaries Of the several officers herein
rovided for.
ARTICLE VII. 4
No shareholder shall ever be held liable
: responsible for the contracts or faults
this corporation in any further sum :,
han the amount of his indebtedness TO :,
,e corporation; nor shall any mere in =.
'rmality in organization have the effect
rendering this act null, or of exposing
ny share holder to any liability beyond ~
lie amount of his or her shares. :,
ARTICLE VIII. !,
This CORPORATION shall have, enjoy and :.
Eercise all the rights, privileges and inn v
unities granted by Act 267 of the Acts 1.
the General Assembly of the State of %
in the year of 1914, and all m
nendments to said act, and this charter Oh
ay be changed, altered or annulled, or il,
is corporation dissolved, under the terms
I'd conditions and in accordance with
i'd Act, No. 267. Pc
ARTICLE TX. tic
The name and post office address Of le
e subscribers to these articles of in ini
and the number Of shares eri
hich each of its stockholders hereby TO
,ree to take and pay, appear opposite sh'
cir respective signatures.
Thus done and passed At New Iberia,
eria Parish. Louisiana in the presence all
Messrs. E. S. Broussard and F. 6. Al
tout, good and competent witnesses, TIL
10 have signed these presents, together an
til the appearers and me, Notary, after en-
q reading of the whole. dn
shares ae'
E. SchwinR. New Iberia, La. 30