St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1904-04-16
Louisiana.
Article Nv.

is hereby fixed at one hundred thousand
dollars, divided into or represented by
ten thousand shares of ten dollars
each Said stock shall be paid for IN
cash at not less than par, or the same
may be issued al not less than par in
payment of property actually received
or purchased by the corporation, or in
payment for labor done and services
performed, accordingly as the Board of
Directors may determine. Said corpo-
ration shall be authorized to begin bust
Dess and be a going concern when two
thousand shares of its stock shall have
been subscribed for. No transfer of
stock shall be binding upon..or have any
effect upon the corporation unless and
until made on its books.
The Board of Directors shall have the
power at any regular or special meeting
to order the issue and sale of additional
stock from time to time up to the
authorized capital stock of the corpora
ton. as In the judgment of the Board
of Directors the business and nece SSH
ties of the corporation may require.
Article V.
All the corporate powers aud authori
ty of this corporation shall be vested in
and be exercised by Board of Direct
ors. to be composed Of three stock
holders. a majority of whom shall con-
stitute quorum for the transaction of
business. Said Board shall he elected
annually by the stockholders on the
second Monday in May of each year,
beginning in the year nineteen hundred
and five. All elections shall be by bal
lot at the Office of SAID corporation, un-
der the superintendent OF two COM
missioners to be appointed for that
purpose by the Board IF Directors, and
ten davs' prior notice of each election
shall be given by publication, published
in the Parish of st. Tammany, State OF
Louisiana. Each share of stock shall
be entitled to one vote, to be cast nv it's
owner. either in person or by written
proxy. ard majority OF the votes cast
shall elect. A failure to elect at such
times Board of Directors or any Mem-
Der thereof, or any Of the corporate
officers as herein provided for, shall not
operate to dissolve this corporation,
but the incumbent directors and Off GERS
shall continue in the exercises of their
duties until the successors shall have
been elected and shall have taken their
places. for which purpose an election
shall be held thereafter as soon as pos
sible.
Vacancies occurring in said Board of
Directors shall be filed by the remain
ing Directors. At the f1rst meeting fol-
lowing each election said Board of Dr.
rectors shall elect of their number q
President, a Vice President and a Sec.
retarv-Treasurer. The Office of Secre-
tary and Treasurer may be FL d by one
and the same person.
The Board of Directors may make
and establish, alter. amend and abolish
all bylaws rules and regulations as it
may deem necessary and proper for the
management of the affairs of the corpo-
ration. not inconsistent with this char
ter and in pursuance of law; it shall
have power to contract debts, borrow
money, issue notes and bonds and other
obligations; execute mortgages, ALLEVIATE
and lease property, real, personal and
mixed; to appoint such clerks, agents,
managers aud employees as may be re-
quired, and generally to do all things
incident to the objects and purposes Of
the said corporation, and moreover,
said Board of Directors shall have
power and authority to issue and de-
liver full paid shares of stock. or bonds
or other obligations of said corporation
in payment for property bought. labor
or services done and performed, or
money borrowed.
Article vi.
Whenever this corporation is dis
solved, either by limitation. or for any
other cause, its affairs shall be liqui-
dated under the supervision of three
to be appointed for that
purpose by the stockholders at gener
al meeting convened for that purpose
after thirty DAYS public notice thereof
shall have been given in one of the |
newspapers published in the Parish of
St. Tammany. State OF Louisiana; said
shall remain in Office |
until the affairs Of sail corporation |
shall have been fully liqnidated and |
settled. and In case of the death Of one
)r more of said commissioners. the
survivor or survivors shall continue to
lct until a successor shall be elected by
me stock holders at q special meeting
;alled for that purpose, after ten daye
advertisement in a newspaper published
n the Parl. b of St. Tammany, State of
louisiana.
Article VII.
This act OF Incorporation may be
modified. changed or altered, Or said
may be dissolved with the
- n ~ in, |
apital stock of the said corporation
ad at any general meeting of the stock
oldrrs convened for such purpose by
he Board Of Directors. after thirty davs
revious notice ut such meeting shall
ave been published in newspaper
,lblished in the Parish Of ST. Tammany.
tate of louisiana. The capital stock
this corporation may be increased or
ecreased at any time in accordance
18th the laws Of the State Of Louisiana.
Article VIII.
No stock holder of this corporation
,all ever be held liable or responsible
n the contracts or faults of said cor
ora,ion in any further sum than the
Dpaid balance due to tho company on
'e shares of stock owned by him, nor
lall any mere informality in organiza.
on hove the effect OF rendering this
,alter null or exposing stock holder
any liability beyond the amount OF
IS stock.
Article TX.
F. G. Marrero, f. Y. Ames and A.
arrero shall constitute the first Board
Directors, with said F. Il. Marrero
President and said A. Marrero as
ice President and said f. Y. Ames az
'cretary- Treasurer. and said Board
all serve until the second Monday in
av. 1905, and until their successors D
all have been elected, as hereinbetore
divided for.
Thus done and passed in my Office, in c