St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1889-03-30

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Louisiana snd Alssisippi . also to
train ~ the Board Of Dirsotors of said
corporation Gay 4aterminss and TO con-
struct establish, purchase, lease and
use suitable wharves, piers, warehouses,
yards. steamboats,, haRboRs, locomo-
tiveA engines. cara, dspots, stations,
hotels. eating houses. and other works,
\ appasatus and appustenanoss connected
With or incidental 70 the operation Of
said railroad and it, connections: and
70 run. manage and employ the same a.
the Board Of DirectOrs Of said COMPANY
may cOnsider to be most expe lient to
the general welfare Of said corporation:
to t1ansport take. carry and convey
passengers. freight. merchandise. prop
esty and mails upon it, said railway.
boats and vehicles By the aid Of steam
or any other powe-. and 70 store meF-
chandise. freight and property within
its yards, depots or warehouses. and 70
charge and receive for sneh tsansportA-
ton, safe keeping and storage. snch
tolls, fees and charges as may from time
70 time be established by the Board Of
Directors of said corporation.
ARTICLE FOURTH.
The capital stosk Of said corporation
10 hereby fixed ut the sum Of two hum.
dred and 6fty thousand dollars. to be
divided into. or represented BY two
thousand Ave hundred shares. Of the
sum Of one hundred dollars each. Said
stock shall be paid for N cash. at the
time of subscription. or the Same may
he issued at not less than par, in pay
ment Of property actually received or
purchased by said corporation.
ARTICLE FIFTH.
All the corporate powers OF said cor
poration shall be vested in and exer-
cised bv Board OF Directors composed
Of Ave stockholders n be elected an.
nualiy ON the second Thursday Of July
in each year. All such elections shall
be by ballot and conducted at the Office
of said corporation, under the superin-
Evidence Of three commissioners to be
appointed by tho Board Of Directors.
and of which election ten days prior
notice shall be given in one of the daily
newspapers published in the city Of
New Orleane. A majority Of the votes
cast shall elect, and each share Of stock
shall be entitled to one vote, TO be cast
by the owner either in person or by
proxy. The directors thus elected shall
serve and continue in Office until their
Successors shall have been elected. A
failure 70 elect directors on the date
above specified shall not dissolve the cor
pOration, but the existing Board of Di-
rectors shall cause another election TO
be held within & irtv days thereafter,
whereof ten days prior notice shall be
RiveL in one Of the daily newspapers
published in New Orleans. Vacancies
occurring in aaid Board Of Directors
from any cause Whatsoever shall be fill
ed by the remaining directors. Three
directors shall constitute = quorum for
the transaction Of any business, and the
Board Of Directors aE their frat meeting
following each annual election shall
elect one Of their number TO be president
Of said corporation. another TO be vice.
president thereof, and another to be
secretary, who shall also act ~ treasurer
Of said corporation. Said Board of Di.
rectors may appoint from time to time.
anil also dismiss at their pleasure, auch
officers. agents, clerks or other employees
they msy deem necessary for the busi-
ness and purposes of aaid corporation.
and make and establish. ~ we'll rs alter
and amend, all bylaws. rules and reRn-
Iati0ns requisite for the support and
management Of the business and affairs
Of said corporation. Sal Board Of Di-
rectors shall have full power and author
ity 70 borrow money. execute mortgages,
issue notes or bonds, and generally to
do all things pertinent 10 the objects
and purposes Of said corporation. or
which ara. or may b. permitted by the
laws and applicable % corporatinns; and
also to issue and deliver full paid shares
Of stock, or bonds or obligations If sail
company at not less than par value in
payment for labor done, or money Dor
rowed. or property or rights actually re-
ceived by said corporation.
ARTICLE SIXTH.
Whenever this corporation may be
dissolved. either by limitation or from
any other carse, it, Affairs shall he liQui-
dated BY three commissioner 10 be APP
pointed from amongst the Stockholders
at . general meeting Of stockholders
convened for such purpose; of which
meeting thirty days previous notice
shall be given by advertisements in one
Of the daily newspapers Published in
The city Of New Orleans; aad . majority
IN amount Of the capital stock Of aaid
company shall he requisite to elect.
Raid mmisslonevs shalt remain in o..
noe until the a4;sir3 Of said corporation
shall have Lssn fully settled and liqui-
dated; and in caAe Of the death Of one or
more Of said commissioner, the survi-
vor or survivors shall continue TO act.
ARTICLE sEvvNTH.
This act Of Incorporation may be
changed, modified or altered, or said
company may be dissolved with the %
sent OF three-four ths Of the stock repre-
sented Of any general N Getting Of the
stockholders convened for such pur-
pose. after thirty days. previous notice
shall have been advertised in one Of the
daily newspapers published in the city
Of New Orleans. such changes ~ may
be made in reference to its capital stock
shall require in addition to said publi-
cation forty days previous notice in
writing or In print, addressed 10 each
stockholdsr ct his usual place Of resi-
dence.
ARTICLE EIGHTH.
No stakeholder shall ever be held liza
BILE or responsible for the contracts or
faults cfsaid corporation in any further
sum than the unpaid balance due ON
the shares Of stock owned by him, nor
shall any mere infoHmality in orgsniza.
ton have the effect of rendering this
charter null. nor Of exposing . stock
holder to any liability beyond the
amount due on his stock.
ARTICLE NINTH.
This corporation shall commence its |
operations or business ~ soon ~ two |
thousand shares Of its stock shall have
been subscribed for: and the following
named persons shall constitute the first |
Board of Directors of said company. and
serve A. such until the second Thurs-
day in July. A. d. 1883. or until their
successors saall have been elected, viz:
Philip A. Orr. Ernest Martilli. Samuel
4. Poitsvent, Theophilus n. Favre and