St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1903-02-28

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erty subject thereto. To borrow money,
give security, sign bonds, etc. To make,
draw, endorse, issue and utter negotia-
bic notes, checks, drafts, receipts. due
bills, bills OF exchange, bills Of lading,
and to take, acquire, receive and hold
the same, and to do all other things and
acts necessary and proper in the exer-
else of the rights and powers above men.
toned, and in the control, management
and government of the business and
affairs of this corporation.
All citations and legal process shall
be served upon the President, and in
his absence upon the Vice President,
and in case Of the absence Ut both the
President and Vice President, upon the
Secretary and Treasurer.
Article III.
The capital stock OF this corporation
is fixed at one hundred Thousand $lO0,-
OOO) dollars, divided into 1000 shares Of
500 each, and which shall be paid for
in cash at the time of subscribing there
for, except as to j. S. Jones and ]. F.
Pickett, who may pay for stock in this
corporation with property real and per-
sonal, movable and immovable belong
ing to Jones l. Pickett, firm composed
OF said Jones l. Pickett domiclled in st.
Tammany Parish, Louisiana, and en-
gagged in the business above mentioned
aud Of which firm this corporation is
intended to be the successor. said j. s.
Jones and j. F. Pickett, however, in
order that they may receive stock in
this corporation. In lieu Of property be-
longing to said firm, shall make sworn
cash valuation and inventory of all
property intended to be turned over to
this corporation in exchange for stock
thoI elm, and deliver same to the Board
Of Directors hereof, who shall consider
valuation shall be agreed to said Jones
and Pickett shall Immediately transfer
said property to this corporation and
upon which they shall each be entitled
to take as many shares Of stock in this
corporation as the property transferred
by them to this corporation will answer
for. Shares of stock shall be transfer
rable only by entry of the transfer in
the stock book OF this corporation and
the surrender OF the original certificates
of stock to this corporation to be can
celled and new certificates of stock
shall be issued to the transferee.
This corporation shall commence
business as soon as Fifteen Thous-
and Dollars worth OF stock has been
taken and paid for as above said.
Article Nv.
Tie pow ers, control and business at.
fAirs o: this corporation shall be man.
aged by and vested in and exercised by
Board of three Directors. No pe1son
shall be eligible as director except stock
holders. A majority Of the directors
shall constitute u quorum for the trans-
action of business. A majority o: the
directors must be residents Of the Parish
of St. lammany. Each of the directors
shall have an equal voice and vote in
tho affairs of the corporation, The Board
of Directors shall pass all Ordinance and
bylaws needful and necessary for their
owl government and to carry out and
exercise the powers conferred by this
charter and the purposes for which it is
established. They shall require the
Treasurer of the. corporation to give
bond for the faithful performance of his |
duty beto:e he takes charge of his Office
and pass on the suf1iciency of the bond |
rendered. Fix the compensation of the
officers Of this corporation, Employ as
agents and employees for this |
and fix their duties, pre-
scribe their elnployments and compen-
sation and discharge such assistant,
agents and employees, employed by
them at will and whenever they see
proper, and hire others in their placea.
and do everything needful and necessary
in narrvinu IN and ss0u A.. -
fairs of this corporation. The officers of
Ibis corporation shall be President,
Vlc5 President and Secretary and Treas.
arer, who shall he the Board Of Direc-
;ors above mentioned. III voting for
Directors the stockholder s shall desie-
nate Oh their ballots which shall be
President, which Vice President and
which Secretary and treasurer. Mr.. ].
J. Jones shall be the first President. Mr..
J. F. Pickett, the first Vice President
70 i Airs. Emma Jones the irst Secrc-
ary and Treasurer and they shall hold
heir Offices until February II, 1904, at IL
o'clock M. 1T which tune an election
hall be held by the stockholders, and
directors aud officers elected, who shull
erve for one year, and directors and
Ulcers shall 10 elected at the san Q time
nd il the same way an nu all ? thereafter,
mt in the event no election il held At
he tino fixed this failure shall not
ause the diss olution Of this corporation.
ut the directors aud officers in Office
t the time of the failure shall continue
n Office until an election is held and
Ulcers and directors elected which shall
9 as coon after the lste fxed by this
llarter as possible. In cases where the
Ulcers aid directors have not been
lected on the date fixed in tn IS charter.
ut are elected on day subsequent,
le directore and officers so elected shall a
,rve until tho following cleo ton; but in d
7ery case when no election is held at
le date 4xed by this char ter. this COR
1ration shall not be aunullsd b, reason
ereof, Eu, the directors and officers il
ice at the time Of the failure shall
ntinu ne in Office until an electio on is
I'D and directors AID officers elected o.
provided for in this charter. =,
In case Of the removal, resignation or
ath OF any director or officer, meet III
9 Of the stockholders shall be called
d they shall elect successor to fill a.