St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1902-06-28


shall be fifteen hundred dollars, (Sl50O)
divided into and represented by thirty
(3O) shares of fifty (50) dollars each,
which stock shall be paid for in full in
cash or in installments of not less than
twenty five (25) per cent at intervals of
not more than thirty days, as the Board
of Directors may determine. Such stock
shall be transferable only on the books
of this corporation, upon surrender of
the certificates therefor.
The stock of this corporation shall be
held and owned bv the stock holders,
subject to the following conditions and
agreements which are made a part of tn q
contract of subscription to such stock
and which are declared to be binding
on the original subscriber to such stock,
and upon all persons who may become
possessed of such stock either by gift,
devise, Inheritance, purchase, pr in any
other manner, tO.wit:
l. The possession or ownership OF a
share of stock does not entitle the pos
SCISSOR or owner to the privileges of the
club house, unless he has been elected a
member. ca No individual shall own
more than one share of stock. (3) In
case any stock holder shall die, resign,
be expelled from the corporation as pro-
vided in the bylaws or rules, or be
absent from the Parish of St. Tam
many for period of more than one
year, without notifying in writing the
Board of Directors, Of such absence and
having such absence approved by such
Board in writing, or shall pledge, sell
n ~ hic n
Directors shall have the right, within
three months after it shall be informed
of such death. resignation, expulsion or
absence, or of such sale, pledge, or dis
posal of such stock, to purchase such
stock for the corporation, in whom
Sewers hands the same may be, at par,
for cash; and upon the purchase OF such
share of stock, the certificate represent
ing the same shall be cancelled on the
books of the corporation, and such
share of stock may again be sold and
issued to any person who may be elected
a member of the corporation IN the
manner provided by it's rules and
bylaws.
Article v
The business and affairs of the club
shall be directed and managed by a
President, Vice President, Secretary,
Treasurer and Board of Directors con-
sisting of eleven stock holders, four of
whom shall be the President, Vice
President. Secretary and Treasurer and
of which Board the President shall be
ex.officio chairman. all of whom, except
the Secretary and Treasurer, shall hold
their office for one year or until their
successors shall be elected, and they
shall exercise all the rights and powers
of the corporation, except insofar as
restricted by the charter and by laws
of the corporation. Citation shall be
served on the President, and, in his alb
sence, on the Vice President, and in
absence of both, on the Secretary. The
Secretary and Treasurer shall be elect
ed by the Board of Directors, and shall
be removable at their will. No person
who is not stock holder of this corpo-
ration shall be eligible as Director.
The officers and first Board of Direc-
tors shall consist of:
Harvey 4. Ellis-President.
b. NJ. Miller-Vice President.
Il. J. Domergue, Jr.-Treasurer.
Jos. Secretary.
Directors-E. A. Leonval, Fred lily,
j. NJ. Thompson, N. &. Pearsall, C. Il.
Louis Medal and T. E.
Brewster. And all of said officers shall
hold thier offices until the annual meet
ing on the third Monday of May 1903.
Article vi
The general meeting of the members
of this corporation shall take place on
the Third Monday of May in each year,
didates for office: as provided foi uuder
Article V. and for the transaction of
such ether business as may be neces
sary. The President, or acting Presi-
dent may at any time call special
meeting whenever, in his opinion, it is
deemed advisable in the interest Of the
and i: shall also be his
duty so to do when requested in writ
ing by five stockholders. Such meet
ing shall take place after notice OF the
day and purpose thereof shall have been
posted conspicuously in the club room
during seven (7) full days previous to
The date of said meeting. At all meet
ings each stock holder shall have one
vote, and shall vote IN person, and not
by proxy. Sixteen (lG) members shall
be a quorum for the transaction OF bust
ness at all meetings, and decision of
! majority of the quorum present shall
be valid as u corporate act, save as
hereinafter excepted.
Article VII
This corporation is authorized TO
lease, purchase, hold, mortgage and |
convey such real estate in the town o!
covington or elsewhere. as may BE- re-
luired for the accomplishment Of its !
purposes. II may ordain bylaws, rules
md regulations, and alter, amend and |
abrogate the same at pleasure, except |
Is otherwise provided in this charter or
~ its bylaws; and shall generally pos
sess and exercise all the powers incl
lent to corporation and necessary to
carry out the purposes for which it has
been organized. 1t may have u seal with
such device and inscription as the Oil
;ers of the corporation may adopt
Article VIII
Nc debts shall be created in any one
'ear in excess OF the actual revenues of
said year, unless by consent of ma
Ority of The members at Il meeting of
he corporation.
The Board of Directors shall have
power assess and to collect such admis-
lion fees and annual dues or assess
nents, as shall be prescribed by the by
avs or authorized by the corporation.
No stock holder or member shall be
leld lab Z or responsible for the debts,
contracts or faults of said corporation
'eyond the amount OF any dues or as
esSments which he may owe for the
urrent year.
Article TX
All acts and obligations Of this cor
,oration shall be authenticated by the
ignature of the President and of the
treasurer.
Article x