The weekly Iberian. (New Iberia, La.) 1894-1946, 1922-02-04

for the transaction of business, the
said Board shall be elected each year
at an election held for that purpose
on the First Thursday of January of
each year, Of which said election fiji
teen days notice shall be given prior
thereto by written notices sent by
mail to each of the stockholders at
least fifteen days prior to said cleo
ton. Each stakeholder shall be entitl-
ed to as many votes as he shall have
shares Of stock, which may be cast
in person or by proxy, and MAORI
ty of all votes cast shall elect, and
in case of tie vote in any said cleo
tions, or in any other business mat
ter or controversy arising at any
meeting or meeting of the stock
holders or of the Board of Directors,
the deciding vote shall be cast by
the President. A failure to elect di-
rectors on the date above specified
shall not have the effect of dissolv-
ing this corporation but the incumb
ent directors or officers shall, in such
event, hold office until their success
sors shall be elected and qualified
under meeting held after notice
duly given as above prescribed. Any
vacancies occurring in the Board of
Directors shall be filled from the
Stockholders by the remaining Board
of Directors.
ARTICLE vi.
The officers of this Corporation
shall consist of a President, Vice
President and Secretary and Treas
urer. The office of the Secretary and
Treasurer may be held by one and
the same person, as decided upon by
the Board Of Directors. The said Of
ficers shall be elected by the Board
of Directors at the same time that
the Board Of Directors are elected,
and the officers thus elected shall
have power to employ such clerks,
bookkeepers, agents and employees
as are necessary for the business of
said Corporation, and to fix the sal
aries for same. For the present and
until an election is held for the pur-.
pose Of electing Board of Direc-
tors and officers as provided in Arti-
Gle Five hereof, the following stock
holders shall constitute the first
Board of Directors, to-wit :-Arthur
Robinson, Alfred Jones, Frank H.
Wallace, Cleveland Brown, Gilbert
Leblanc, H. w. Coleman and Arthur
Smith, with Arthur Robinson as
President; Alfred Jones, Vice-Presi-
dent, and Frank H. Wallace, Secre-
tary and Treasurer, and said Board
until their successors shall have been
elected and installed in office.
ARTICLE VII!
All transfers Of stock Of this Cor
poration must be made upon the sur
render of the certificate of stock and
by and under the direction of the
Secretary Of this Corporation. Any
stakeholder desiring to sell his stock
must first offer the same to the Pre-
sident Of said Corporation, who shall
have the option Of purchasing the
same for the company or for himself
at the price fixed by the owner there
of, and he shall have a ten-day OPP
ton in which to purchase same, and
upon his failure to do SO, then the
party holding said stock for sale will
have the right to sell the same to
any one desiring to purchase the said
stock. All such stock shall have print
cd upon it's face, Transferred to per-
sons not originally members Of said
corporation, only upon conditions
named ain Article Seven of the Chart
er Of said Company"
No stakeholder shall ever be held
liable or responsible for the obliga-
tions, contracts or debts Of this Cor
poration in any further sum than the
unpaid balance due on the subscrip- |
ton of the shares Of stock held by
him, nor shall any informality in
organization have the effect Of rend- :
ering this Charter null.
ARTICLE VIII.
This Charter may be amended, al
tered or modified, or the Corporation
dissolved by vote of two-thirds of
its capital stock, represented at a |
meeting called for that purpose, of |
which meeting thirty days previous
notice shall be given by publication.
and written or printed notices in the
manner mentioned for other meet
ings.
ARTICLE TX.
Whenever this Corporation shall
be dissolved by limitation of its
charter or otherwise, its affairs shall ]