New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1919-01-25

chase and own, or lease, real estate, ma
chinery necessary and convenient to carry
on said business, to pledge or mortgage
sell or exchange same, to fix tariff OF note
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 ($5000) Dollars, represented by
Fifty (50) shares of the par value of One
Hundred $500 Dollars, or in exchange
for such property IS 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, 000) Dollars.
Said corporation shall begin business
as soon as Five Thousand ($50O0) Dol
lars Of the capital stock shall have been
subscribed and the sum Of Five Thou
sand ($50OO) Dollars shall g. have been
paid for.
ARTICLE v.
ton shall be vested in and exercised by,
and all the business affairs of this coz
portaion shall be managed and conducted
by Board of Directors, composed Of
Three (3) members to be annually elected
on the Third Tuesday of January of each
year. From said Directors there shall be
elected annually, a President, Vice Pres
ident, and q Secretary Treasurer, of the
said corporation. The. following persons
shall constitute the first Board Of Di-
rectors, to-wit: J. 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: ]. E. Schwina, 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.
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 outtandinE stock.
Failure for any cause to elect direc-
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 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
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 the 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 q it
may deem necessary for the proper man
agement, provided, the same shall not
conflict with this charter or with the laws
of the State Of Louisiana, and of the
United States. It shall appoint agents,
employees, servants and clerks Is It msy
deem proper, fixing their compensation.
II shall have the right to fix and determine
the salaries Of the several officers herein
provided for.
ARTICLE VII. n
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 Indebtedness to
the corporation; NOR shall any mere in
formality in organisation have the eject
Of rendering this act null, or Of exposing
any share holder to any liability beyond
the amount of his Or her shares.
ARTICLE VIII.
This scorooEation shall have, enjoy and
exercise ell the rights, privileges and i'm!
munities granted BY Act 267 Of the Acts
Of the General Assembly Of the State Of
Louisiana, in the year Of 1914, md all
amendments to said act, and this charter
may BE-, changed, altered or innulled,, OF
this corporation dissolved, under the terms
and conditions and n accerdancG viii
ssid Act, No. 267.
ARTICLE TX. s
The Aaams and post Office address Of
the subscribers to these articles Of in