St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1901-05-04

otxSy 09y3 Ateef Tie death d oOeh d
ceased member. In case Of Tie deaGh
q any bosEowiaG Deobef, his hsirs q
Representatives shall b eatitled 70 &C
ceed TO I'll his rghts a1d ohliea&ioos,
pFUvide0 e b dose within sixty dayO
after the death q such member. IL k
should ever oecur that tie associates
coald not 1ad NE for it, fuDds, it shall
have the right - call In 11pledee0
shares and to liquidate same - provid-
ed fOe The withdraWel Of shares; full
paid stock 70 be called In hrst In the re-
verse order Of issae, and then the shares
Il the oldest series BY allotment; both
called In, 70 be entitled to six per ceat
interest per an1um from the time Of
their hast dividesd. At the close q
each centennial period, December 3lst
and June 30th, the net earned profits
shall be asceFtaiDed and . dividend de-
clared spoa the value Of each share In
force In such Q manner - the Board Of
DirectorB shall determine; provided
that the Board shall Arst set aside to Q
reserve or other fund such N amount
- they deem advisable; and provided
further, that the dividend shall not ex-
coed the pcrtica Of prodts earned, and
withd1wable by said shares, and
further, that the dividend upon full paid
stock shall not be less than six nor
more than ten per cent per annUD.
Whenever the shares On any hook, BY
reason Of payment Of i0stallDest o.
stock ard accumulatioas Of dividends
thereof, shall be worth the par vaive
Of One Hundred Dollars each. such
stock II thereby nsatured ard shall be
payable ~ speedily ~ may be fossd
consistent with the best interest Of the
stockholders and OF the asoociatioa.
In the case Of dissolution or terDina-
don Of the charter from any cause, the
association shall be liqaidased BY three
shall be . borrower. selected By tie
stock holders. said commissioners 70
have power to oil vacancies IN their
number by selecting from The stock
holders asyoDe eligible aDder the
charter as director.
Article v.
All the powers Of this eoFporatioa
shall be exercised BY . Board Of Diree-
tors, composed or eleven stockholders
owning 1t least ten shares Of stock each
Of the association; said directors 70 be
elected q . general meeting cosvesed
for that purpose on the 1rst Tuesday q
January, each year, commencing o. the
Arst Tuesday Of January, ls07; notice
Of sucb neetang shall be Published in
. 1ewapaper OF st. Tamma1y and
Washingtoa Parish, for the space q
ten days Immediately preceding said
election; said electios shall be By ballot
ut the domicile Of this corp0fatioo,
uDder the Supervision Of three connie
ssooers, stockholders appointed bv the
Board Of Directors 1t the last proceed
ing nesting; each share Of stock u en-
titled 70 one vote, and the stockh0lder
receiving majority Of the votes cast
shall be elected; failure 10 hold IN cleo.
tioa On the day specified shall not dis
solve this corporation, bat the Direc-
tors II Once shall hold power until IN
election be held after ten days notice Of
the time and place thereof; the DiFec-
tois shall elect from their nunber Q
Freshest and Vice Presideut; . ma
jofity Of the Directors shall be quoru0
9O0 SasC SI04A9oCSSOo VI UU090S9SS III w
cancies shall be filed by the remaining
members Of said Board Of Directors;
the Directors shall select and appoint .
Secretary, Treasurer, IN Attofney, .
Notary and such other omcers - shall
be necessary, but no salary shall be paid
except to the Secretary; the Directors
shall have power to make bylaws, u
select . place Of meeting. TO suspend
any and al odscers and have gepesL
authority 70 cany out the objects and
busane&s Of the associstion, bat they
shall not have power 4, purchase real
estate except for cash, nor contract any
Indebtedness In excess Of amount Of
cash on hand. The following named
pers0ns shall constitute the Board Of
Directors to serve until the regular
meeting In January, 1907, or antil their
success0rs are elected, to-wit: James
u. Thomnsoa, H. X. Warren. Z. J.
Frederick. C. b. E Babingtoa, J. 8.
Jones, 7. v. Hosmer, C. z. Williams.
n. c. Day, H. ID Bickham, H. J. Smith
and s, ID. BullOch.