St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1901-12-21
Article Ill.

This COrpOratioe may sue or be suet
in its Corporate name, make aud use
Corporate seal. to break aud alter Al
pleasure, hold, have, receive, purchase
convey. sell, mortgage, hypothecate
pledge. LEAST, sub lease AMI enjoy real
personal and mixed property. also to
borrow and lend money and 10 make
contracts. make aud establish such by
laws. rules and regulations as may be
necessary, and at the same time alter anc
change them ut pleasure. aud shall pos
sess all rights and privileges to which
corporations are or may be authorized
aud entitled to possess.
Article ".
The capital stock OF this corporation
shall be Fifteen Thousand Dollars, d.
vided into and represented by three
thousand shares, of the sum of five dol.
lars per share, payable in such a man.
ner as the Board Of Directors may de,
termine. All shares of stock issued
shall be signed by the President and
Secretary.
At all elections by, or meetings OF
the stockholders, each share of stock
shall be entitled to one vote to be cast
by the person in whose name the stock
appears on the books Of the corporation
or by his agent or proxy duly autbo-
rized to that effect in writing.
Article V.
No stockholder shall have the aui hor-
ity or the right to sell or otherwise dis
pose of his stock III whole or in part
without first giving to the President of
this corporation ten days notice il,
writing of his desire or intention to
dispose of his stock or Il portion there :
of, and allowing the Stockholders the
hrst opportunity 10 buy said stock at
the same price offered by others, and
upon failure or neglect Of the other
stockholders TO avail themselves within
the said ten days. of the right to pur-
chase, the said stock may then be sold
in open market.
The stock of this corporation may be
under the above conditions,
provided such transfer be made on tire
books Of the corporation ut it's office
in Covington, st. rammany Parish, this
State, and on the surrender of the
certificate therefor. No transfer of
any fractional part of 4 share shall be
made. This corporation shall COM
lnence doing business as soon as five
thousand dollars of its capital stock
shall have been subscribed for. The
Board of Directors shall have the right
aud authority to determine how much
stock shall be issued.
Article vi.
The business affairs and corporate
powers of this corporation shall be in
rested in and transacted by Board of
Directors composed of nine stock
iOiders, five of whom shall constitute a
quorum. No person shall be eligible
IL director or officer rs herein pro-
'ided in this charter, who is not u
'tockholder Of this corporation. The
of the Board of Directors
hall be elected by majority of the
'otes of tile st ckholders cast ut a |
Meeting to be held for that purpose
ach yeai. The following persons shall
the first Boaad Of Directors
J. Smith, DR.. G. K. Tolson, H.
E. F. Limongi. Sandy ID.
'ulloch, Joseph B. Lancaster, + E.
'mith, W. j. Warren and Bertrand
.abat, with the said II. J. Smith as
resident, Dr. G. Il. FOLSOM as Vice
resident, Sandy ID. Bullocil as Teas
rer. and Joseph b. Lancaster as Secre-
sry; which said Board Of Directors
nd officers shall continue in Office until
he first Monday in December, 1909. or
ntll their successors are elected. On
'hich date and annually thereafter an
lection for Directors shall be held ut the
flee of the corporation after fifteen
ays notice thereof shall be given by pub
cation in one Of the newspapers pub