New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1919-02-15

Isuch canals with the necessary water 10
irrigating purposes and TO bsy and ope
Irate harvesting and threshing machinery
and shall for such purposes have ful
power to exercise any right of Eminen
| Domain that might be given by Law t
a corporate body of this character, to pur
chase and own, or lease, real estate, ma
chinery 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 ano
all contracts in relation to said business
| that may become necessary.
ARTICLE ~.
The capital stock of this corporation i
hereby fixed at the sum Of Five Thou
sand (s5000) Dollars, represented by
Fifty 500 shares of the par value of One
Hundred ($10oD Dollars, or in exchange
for such property as may 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 sum
of Fifteen Thousand ($15,0OO) Dollars.
Said corporation shall begin business
as soon as Five Thousand $4,000 Doll
lars Of the capital stock shall have been
subscribed and the sum of Five Thou-
sand (S5000) 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 81 members to be annually elected
on the Third Tuesday of January of each
year. From said Directors there shall he
elected annually, President, Vice Pres
ident, and 4 Secretary Treasurer, of the
said corporation. The following persons
shall constitute the first Board of Di-
rectors, to-wit ]. E. Schwing, ]. A.
Goodwin, and Miss Louise Blanchet.
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, SchwinR, President; j.
A. Goodwin, Vice President and Miss
Louise Blanchet. Secretary Treasurer.
shall be filled by the remaining members
Of the Board for the unexpired term.
Any vacancy in any office shall be filled
by the Directors for the unexpired 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 10)
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 cent.
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
fcers of this corporation, shall hold over
until their successors are chosen. In
such event the President shall cause
another election to be held within Thirty
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
he may vote each stock by written proxy
given to any other person to represent
him at such meeting.
The election of directors shall be BY
ballot and thu majority of the amount
Of votes cast shall elect the person or per
sons for whom they have been cast,
ARTICLE vi,
The Board of Directors shall frame
and adopt such bylaws and rules and
regulations as the affairs and the business
Of the corporation may require, and a. it
may deem necessary for the proper man
sgement, provided, the same shall not
conflict with this charter or with the laws
of the State of Louisiana, and of the
United States. 1t shall appoint agents,
employees, servants and clerks as il may
deem proper, fixing their compensation.
It shall have the right to fix and determine
the salaries of the several officers 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 sun,
than the amount of his indebtedness to
the corporation; nor shall any mere in
formality in organization have the effect
of rendering tins act null, or of exposing
any share holder to any liability beyond
the amount of his or her shareA
ARTICLE VIII.
This CORPORATION shall have, enjoy and
exercise all the rights, privileges and inn
munities granted by Act 267 of the Acts
of the General Assembly of the State of
Louisiana, in the year Of 1914, and all
amendments to said act, and this charter
may be changed, altered OF, annulled, or
this corporation dissolved, under the terms
and conditions and in accordance with
said Act, No. 267.
ARTICLE TX.
The name and post office address of
the subscribers to these articles of in
corporation, and the number of shares
which each Of ito stockholders hereby
agree to take and pay. appear opposite
their respective signatures. .
Thus done and passed 1t New iberia,
|Iberia Parish, Louisiana in the presence
al Msssrs. E. S. Broussard and F. 9.
Patout. good and competent witnesses,
who have signed these presents, together
with the appearers and me, Notary, after
due reading of the whole.
shares
y. z. Schwina, New iberia, La. 80
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