St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1897-03-27

payment Of property yoceived o. pr.
chased BY the corporation. The cor
poration shall become going conceFn
and shall begin business - soon .
three hundred shares shall Be sub
scribed for, or shall be issued for
property acquired or purchased by the
said corporation.
ARTICLE v.
All the corporate powers Of said COZ.
porati0n shall be vested and exercised
by Board Of Directors composed Of
three stockholders 70 be elected annu-
ally ON the third Tuesday In January
Of each year, the llrst el- ction to be In
1888. All such elections shall be BY
ballot, and shall be conducted at the
once Of the corporation. under the
superiutendence Of three commission
crs to be appointed by the Board Of
Directors. Notice Of each election
shall be mailed 10 each stockh0lder,
addressed to his place Of residence -
shown by the books Of the Company, not
less than ten or more than nfteen days
prior to such election, aud each stock
holder. for each share Of stock owned
BY him shall be entitled TO cast three
votes either In person or by proxy, and
each stOckholder may cast al his votes
for one individual, or may divide the
same among several individuals, MT
exceeding three, - such st0ckhOlder
may desire. provided that no fractional
votes shall Be counted or considered.
The three persons receiving the
highest number Of votes shall constt-
tute the Board Of Directors for the en-
suing term, shall at once take their
seats q such, and shall serve and con-
tinue In ONCE until their successors
shall have been elected. A failure 70
elect Directors, - above specified, shall
not dissolve the corporation, but the
Board OF Directors shall continue to
act until an election Is held, which
shall be - soon as may be after notice
- above provided Vacancies occurring
In said Board from any cause whatsO-
ever shall be filled by the remaining
Directors, and any director who may
leave the State temporarily may appoint
In writing, another stockh0lder to act
- his proxy on said Board and exercise
for the time being all the powers Of such
absent Director. Two Directors shall
constitute quorum for the transaction
Of any business.
The said board Of Directors at it.
nrst meeting following the election in
e.ch yesr, shall elect from ita Nh abcr
resident and Vice Prasi.oent. aAd
shall also elect Secretary and Teas
urer. The board ahall appoint from
tire to time. and dismiss at .lsasure.
sucb officers clerk, agents and other
employees - they may .leeW necessary
for the bueiness and purposes Of said
corporation. and NAV Lake and est,ab-
lisls, - we'll - AMEND and altar. all by
laws. rules and regulations requisite for
.he support and mansgeLseat Of the
business Of aaid compsnv. Said Board
os Disectore shall have power and au-
thoEity b. borrow money. execute mort
a.ges, issue notes or bonds. issue and
dslives full paid share Of stock o.
bonds, or obligations Of said company ~
not less than par. In payment for labor
and sesvioes. property, rights. ETC.. &C
tually rendered to or received by said
corporation, md generally to 30 all
things pertinent 70 the objects and pur-
poses OF said corporation. or which nre
lr may be permitted BY tho law applica-
BILE 10 eovporationa-
ARTICLE vi.
Thu act Of incorporation, or any arti-
ole In this charter. may be changed, IL
tered or amended, or the corporation
may be dissolved ct general meeting
Of the stockholders convened for such
purposes, after notice to each stock
holder, directed to his place of resi-
dence, - shown by the books Of the
corporation, not more than fifteen, NOR
less than ten days prior to ~uch meeting.
provided the owners Of three-f0urths
Of the shares Of stock represented at
such meeting shall vote In favor of such
changes, alteration, ameudmeus or dis
solution. Such changes - may be
made In reference to the capital stock
shall require thirty DAYS advertisement,
aud In addition forty days prior written
or printed notice addressed and malled
n each stock holder ut his usual place
Of residence, and the Affirmative vote
Of the owners of . majority Of the
shares Of the capital stock.
ARTICLE VII.
whenever this corporation may be
dissolved, whether by limitation Or
from any other cause, its affairs shall
- 1.rr~s-e..a 80. .~r.- ~ .e~,.k-
holders at . general meeting Of the
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