New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-03-13

ration is hereby fixed at Thirty
Thousand ($30,000.00) Dollars,
divided into three hundred 1900
shares of One Hundred ($10000)
Dollars each, payable in cash, or
its equivalent as may be determ-
ined by The Board of Directors.
The corporation is to be a 60
ing concern as soon as Fifteen
Thousand $15,000.00) Dollars Of
its capital stock shall have been
subscribed for.
The amount to which the CAPT
tai stock of this corporation may
be increased, is hereby fixed at
Fifty Thousand ($50000.00) Dol
lars.
All transfers of stock of this
corporation shall be entered on
the stock book, and no transfer
shall be, in any manner binding on
this corporation, until so reg:s-
tered in its stock book.
No stakeholder shall have the
right to sell his stock on the mar
ket without having offered it, in
writing at it's book value, to the
directors Of this corporation,
twenty (20) days previous to the
contemplated sale of said stock,
and if the directors of this cor
poration when said stock is Offered
to them at it's book value, desire
to buy it, purchase shall be made
on behalf Of the corporation, and
the stock shall then and there be-
come treasury stock to be dis
posed of as the Board Of Direc-
tors shall determine.
A notice Of the obligation so to
offer the stock to the corporation
shall be printed across the face Of
each certificate of stock.
Article v, ..r@'t
All Of the corporate powers Of
this corporation shall be vested
in and exercised by a Board OF
Directors, composed Of four a.
stockholders, three (3) of WHOM
shall constitute a quorum in the
transaction of business, which
said directors shall be elected at
a general meeting Of the stock
holders of this corporation, to he
held on the third Tuesday in
January in each year, and notice
of said election shall be given by
a letter to be written ten (10)
days previous to said election. and
sent to the last known address Of
each of the stockholders. The
first meeting of the stockholders
under this charter for the pur-
pose of electing a Board of Direc-
tors, shall occur on the third Tues.
day of January 1921.
The said board, at its first meet
ing after each annual election,
shall elect from its members a
President, a Vice-President, aud
a Secretary Treasurer.
The said Board of Directors
shall serve until the third Tues
day Of January 1921, or until their
successors shall have been duly
elected and qualified to-wit:
Fritz Dietlein, New Iberia. La,
President; james " Dunbar, New
Orleans, La, Vice-President; Ar
mold E. Frick, New Iberia, La,
Secretary Treasurer.
The first election for directors
under this Charter shall take place
On the third Tuesday Of January,
in 1921, until which
time, or until their successors shall
have been elected and qualified,
the following stockholders shall
constitute the first Board of Direc-
tors: Fritz Dietlein, New Iberia,
La; James V. Dunbar, New Or
cans, La; Arnold e. Prick, New
iberia, La; Ebert L. Dukate, BIZ
ok. Miss.
The first Tuesday of January
in 1921, shall be the
,egular day for the meeting of
to elect directors, but
he failure from any cause to elect
directors on the day stipulated,
hall not dissolve this corporation,
nut the officers and directors then
n office, shall hold over until
heir successors shall have been
luly elected and qualified.
And in the event of any failure
o hold an election on the day
stipulated, the President shall call
i new meeting on ten (10) days
lotice as near thereafter, or as
loon thereafter, as practicable.
At all elections and meetings Of
he stockholders, each stockholdcr
hall ha anfifInJ IN ana vnfa for